A team from General Electric (GE) of the United States which was here recently met several government agencies in the areas of energy, water, agro-processing and mining, among others, while exploring business and investment opportunities, the Government Information Agency (GINA) reported yesterday.

According to GINA, Government is optimistic that before year-end an agreement will be signed.

Meanwhile, Chief Executive Officer for the Guyana Office for Investment (Go-Invest) Geoffrey Da Silva said that this is a good indication of the investment climate in Guyana, adding that it will encourage other companies to show interest too.

He also noted that GE, which has an annual sales turnover of US$173B a year, makes some of the best water and electricity turbines in the world. Da Silva also said that the company is also involved in facilitating trade from a country and linking it with energy and water development.

GE’s representatives also held meetings with Go-Invest, the Office of the Prime Minister, the Guyana Power and Light, Rusal Bauxite Company, CGX of Canada, the Guyana Rice Development Board, Banks DIH, Demerara Distillers Limited and the Guyana Sugar Corporation, GINA stated.

Government is of the view, GINA said, that if the company should invest here there will be substantial replacement and upgrading of the entire infrastructure in the energy and water sectors in terms of technology innovation.

And Da Silva explained that “this team has to go back and report to its headquarters in New York and after that they will visit again this year before September. He said government is hoping that by the last quarter of this year some kind of agreement would be developed that will identify two or three areas for the administration to work with them on.