International Business Conference: President Ali urges investors to act now

With exactly one month left until the commencement of Guyana’s first International Business Conference (IBC) 2024, President Dr Irfaan Ali has indicated that himself and several Ministers of Government will be independently engaging investors participating in the conference, as the administration aims to secure foreign investment for all local businesses who will be present.
Organisers of the first ever International Business Conference, which gets underway from October 15 to 17, 2024 at the Guyana Marriott Hotel, are anticipating the attendance of over 100 speakers and more than 500 delegates at the event.
According to the Head of State, the engagements will be conducted both formal and informal settings, with the primary goal being to educate the investors on how government is building out the economy and increasing capital and opportunities for Guyanese, among others.
He explained that Guyanese are already capitalising on the country’s growth and local expertise coupled with increase investment will contribute significantly to ensuring Guyana sustains it economic growth in years to come.
“The local private sector they have the know-how, they understand the market and understand the culture, but the foreign countries have the technology and a bit more capital and when we match that we get a perfect outcome. So that is why I think this conference is key because it brings that local fire power and match it with that foreign fire power and gives us an opportunity to build partnerships because that’s what we want,” the Guyanese Leader said during a recent interview.
“If you don’t invest now, I tell people in two to three years it will be expensive for you to do,” he added.
The IBC, which was organised by the Guyana-Suriname Chamber of Commerce, with support from the Suriname Investment and Trade Agency (SITA), the Guyana Office for Investment (GO-Invest) and the Guyana Manufacturing and Services Association (GMSA), offers a platform for locals to pool their resources, strengthen collective capabilities, and elevate the Caribbean’s standing in the global market.
With high-level discussions, targeted networking opportunities, and avenues for foreign investment, the IBC is set to play a crucial role in advancing regional development and fostering new business partnerships in real estate, infrastructure, mining, industrial services and tourism.
Ahead of the event, President Ali is urging businesses across the Caribbean and the international community to seize the immense opportunities that will be available.
“Many people look at the connectivity of business and the networking and the creation of larger scale companies when they combine their efforts, technology and people capital. But I see something that people sometime don’t look at. If you have more investors from the Caribbean in Guyana or more investors from the Middle East and US then it pushes their economy. And when they are pushed then the bureaucratic delays and the artificial blockade that is there is better served and easier to remove,” Ali said.
According to Ali, government policies would also be examined during the summit, with the aim of finding solutions to overcome challenges such as trade barriers, which would help to enhance regional and international trade.