The Guyana Office for Investment wants to see new ventures in the oil and gas sector paying more attention to local content.
Speaking at the opening of the 2nd Guyana International Petroleum Business Summit & Exhibition, the Chief Executive Officer of Go-Invest, Owen Verwey said Go-Invest remains open to support new business ventures and will support the development needs of new companies.
He pushed for those ventures to support local content.
“Go-Invest encourages the new ventures to look at local content and local benefit in your business development process. It is a great source of quickly acquiring local knowledge, avoiding the usual and unusual business development challenges and it will ensure that the locals benefit from some of the economic successes that are to come and this, in turn, helps to ensure the sustainable development of your businesses and the Guyana economy”, Mr. Verwey said.
He said the Guyana Office for Investment looks forward to supporting the new businesses that will be exploring new ventures in the near future.
Verwey said there were a number of new companies and new ventures birthed out of the 2018 edition of GIPEX and he is confident that this year’s event will offer more.
At the end of 2018, Guyana was already buzzing with interest in the oil and gas sector as the country celebrated its 10th oil find. Since then, there have been six more oil finds and that has brought in additional interest.
The GIPEX conference is seeing business leaders from across the world gathering in Guyana for information and opportunity about the country’s oil industry.
The Guyana Office for Investment is one of the agencies that has been supporting the entry of new businesses and ventures into the market.
The Go-Invest CEO said Guyana is open for business as it faces an exciting time ahead.
“As Guyana prepares to fully enter the world of oil and gas, this agency, Go-Invest, has been continuing to prove its capabilities in recent years. However, we do recognize the challenges and are currently in the process of reviewing our operational structures, our roles, our resource capabilities and most importantly our strategies. This is to ensure the agency can adequately support businesses in this era”, he said.
He noted that the Go-Invest review will make consideration for both the oil and gas sector and the traditional sectors of Guyana.
GIPEX opened this morning and will wrap up on Thursday evening.