By Samuel Sukhnandan
Day Two of the Energy Conference saw Vice President Dr. Bharrat Jagdeo reaffirming Guyana’s commitment to ensuring the safety of investments in its burgeoning oil and gas industry.
Amidst the gathering of stakeholders and foreign investors, Dr. Jagdeo emphasized the government’s dedication to fostering economic development for the benefit of the nation and its people.
Dr. Jagdeo dismissed concerns that foreign investors are seeking to exploit Guyana’s resources, emphasizing instead the government’s collaborative approach to working with investors for mutual benefit.
The Vice President highlighted ongoing efforts to establish a robust regulatory framework for the oil and gas sector, inviting feedback on the new production sharing agreement (PSA) aimed at governing future oil exploration licenses.
Addressing fears of the “Dutch disease,” Dr. Jagdeo assured attendees that the government has implemented strategic policies to mitigate such risks and ensure sustainable economic growth.
He underscored Guyana’s commitment to balancing the opportunities presented by its vast rainforest resources with the continued expansion of the oil and gas industry, emphasizing the importance of environmental stewardship and responsible development.
As Guyana seeks to harness its energy potential while safeguarding national interests, Vice President Jagdeo’s remarks underscore the government’s proactive stance in fostering a conducive environment for investment and sustainable development.