OTC Conference 2025: Govt’s diversification of economy applauded in Houston

…Guyana is “more than oil” – Chief Investment Officer

The work that the People’s Progressive Party/Civic (PPP/C) Government has done to diversify the economy, was on Monday lauded during the opening day of the Offshore Technology Conference (OTC) in Houston, Texas.
The Georgetown Chamber of Commerce and Industry (GCCI), which fielded a 35-member delegation to the conference and has its own booth at the location, was a participant in the ribbon cutting ceremony of the conference on Monday.
At the conference, President of GCCI, Kathy Smith, recognised the “intentional and deliberate” strategy by the PPP/C Government to diversify the economy. She further noted that these efforts have ensured that there is a range of investment opportunities.

“This space is not just a physical space, but it has become a dynamic platform where there is an opportunity for innovation and collaboration,” Smith was quoted in a statement from the GCCI as saying.
Reinforcing the message of Guyana’s diversification was Chief Investment Officer and Chief Executive Officer (CEO) for the Guyana Office for Investment (GO-Invest) Dr Peter Ramsaroop, who provided key insights into the investment opportunities and made it clear that “Guyana is more than oil.”
The OTC conference is an annual event focusing on offshore energy, bringing together professionals to exchange ideas and advance technology. Over the years, the GCCI has fielded delegations searching for investment and networking opportunities which have led to discussions on joint ventures.
Earlier this year, Smith had urged local Small and Medium Sized Enterprises (SMEs) to sign up for the event, noting that they will have the opportunity to secure investments and business ventures in several key sectors. She had highlighted that the energy sector has a plethora of opportunities that these businesses can capitalise on.
“Most of us would look to the Government to build out the energy sector within Guyana, but if we are to encourage businesses to be part of that sector, to help grow that sector, and in return help grow their businesses, we as the chamber, as an advocacy body, want to make sure that our businesses, our members, have an understanding as to how to do that,” she had said.
“So, for those SMEs who consider themselves high growth and you want to be part of the energy sector, this is an opportunity for you to go there and to get partnership. I’m not sure if anybody might be able to say, but every year that we go, members are coming back for partnership with us every single year that we go,” she added.
The OTC is a series of conferences and exhibitions, focused on exchanging technical knowledge relevant to the development of offshore energy resources, primarily oil and natural gas.
The flagship event is held annually during early May in Houston, Texas, USA since 1969.
More than 100 Guyanese private sector members have participated in the OTC in the previous years. Notably, new businesses who take part in this year’s proceedings of the OTC will be given a one-year free membership at the GCCI.