Legacy projects must flow from extraction of non-renewables by foreign investors – Gouveia

Foreign investments in sectors that significantly exploit Guyana’s non-renewable resources should, “as a matter of course,” leave behind Guyana’s significant “legacy projects” that provide some measure of meaningful compensation for the fact that what they take away are wasting resources from which the country cannot hope to benefit again, a senior private sector functionary has told the Stabroek Business.

And Chief Executive Officer of Roraima Airways Inc. Captain Gerry Gouveia, who served in senior positions in the private sector at different points in time has said that he believes that it is the government’s responsibility to ensure that rules and regulations are ‘firmly in place” to ensure that strict contractual arrangements are in place that allow for those legacy projects to provide employment and to “otherwise bring social and economic benefits to the country. “Where wasting and non – renewable like gold, oil and forestry resources   sectors are involved agreements ought to be in place to ensure that legacy projects are in place to ensure that the country as a whole receives some measure of compensation for the fact that we are unlikely ever again to benefit from the resources that are removed once the natural life of the project is over…..