The strong likelihood that the growth of Guyana’s economy will be driven by what are now the country’s proven significant hydrocarbon reserves will not deflect his administration from the pursuit of its ‘green economy’ goals, President David Granger has said.
Asserting that “there is no shadow of turning from our path of becoming a green state,” the Head of State said future oil revenues will be pressed into service “to develop green technologies including green energy options that will lower the cost of production in the manufacturing sector and improve the delivery of public services to the people.”
While there has been some measure of speculative discourse over the coincidence between the country’s major hydrocarbon energy find and the President’s public focus on the ‘green economy’ direction of his administration, Granger, in an interview which will be published in the Guyana Review shortly insists that “Guyana has to reduce its reliance on fossil fuels. Oil is still a commodity in demand and as I have said repeatedly, we want to use the earnings largely to promote a sustainable green development programme. This is a period of transition from a mainly extractive economy to one that is more environmentally conscious. We need to walk on two legs,” the Head of State declared.
The wide-ranging responses provided by the Head of State to questions put to him included pronouncements on the immediate-term focus of his administration, investments, some of the country’s key economic challenges, infrastructure development and the sugar industry. With regard to what he described as his “mission in the short term,” Granger said that his administration was seeking “to repair the damage to the economy and the society which we inherited.” He listed among the “wasteful and broken projects” that his administration had inherited, “the notorious fibre optic cable and Skeldon Sugar Modernization projects and a heavily-indebted
sugar industry requiring billions of dollars in bailouts.”
Asked whether he was concerned over the absence of “a succession of major and aggressive external expressions of interest in investing in Guyana,” President Granger responded that investment interest was only likely to flourish in a convivial environment. “Investors want to see stability and security and we are creating such an environment. Investments are not overnight ventures; they have a gestation period during which investors undertake feasibility and other studies before sinking their capital. This is happening,” the President said.
He added that the APNU+AFC administration was in the process of “improving the country’s reputation as a safe investment destination” and was also focused on the role of public education “in training a skilled work force.” Additionally, Granger said alluded to public infrastructure and public telecommunications which he said were important to providing support for a suitable business climate.
And according to Granger, even as his administration continues to promote agro processing and micro enterprises “as means of self-employment” plans are in train to launch the Guyana Youth Corps “mainly for out-of-school young people” next January.
