The first session during the morning on the second day of the International Energy Conference and Expo Guyana 2023, featured presentations by the Honourable Dr. Bharrat Jagdeo, Vice President of Guyana, as well as the Honourable Vickram Bharrat, Minister of Natural Resources of Guyana.
Vice President Jagdeo shared a bit on the history of the Low Carbon Development Strategy project, investment deals that were made at the time of the project’s creation and other deals that have been made in recent times. He elaborated on the importance of Guyana’s indigenous communities and their role in the LCDS. The Vice President stated that this is “our contribution to the global fight against climate change but we are monetizing these resources and utilizing these resources for the development of our country”
Minister Vickram Bharrat voiced during his speech that Guyana has a thriving future on the horizon, but multiple steps still need to be taken before reaching to that point. He highlighted that there is an open policy for foreign investment in any sector of Guyana. Minister Bharrat mentioned that Guyana currently has the second highest growth rate in the non-oil economy, and the Government of Guyana is committed to growing this non-oil economy even further. A commitment to make sure every Guyanese benefits from the new revenue stream was also an important point that was shared. Despite being small, Minister Bharrat stated that the creation of an educated and skilled population is also vital for a developed Guyana. He concluded his speech by announcing that there are currently 14 offshore blocks that are up for auction.