We are soon to become the envy of the Caribbean. Our dream of becoming an economic powerhouse will soon materialise. With the discovery of over 5 billion barrels of oil, Guyana is set to become a major oil producer. And given the high prospect of additional oil discoveries, investors are eager to enter our fledging financial heaven.
Moreover, our strategic position between LAC further opens up countless business opportunities; from shipping and railroad services to manufacturing and agriculture. Land, labour and capital, the three elements of production are in abundance. With the correct combination of fiscal and monetary regime coupled with astute and bold leadership, Guyana is undoubtedly destined for greatness.
However, and here is where it becomes interesting, under this current Government, that is an elusive dream. With all the riches that would likely flow, our citizens have zero chance of benefitting. In fact, things might even get worse because of the gross incompetence by the Government. Our Minister of Finance is absolutely clueless when it comes to managing the economy; our Minister of Legal Affairs is the biggest pettyfogger in the entire nation; and our President, well, he is buried in oblivion.
Hence, there is no assurance that this Government will get anything right. If through a sleight of hand, they’ve managed to conceal the signing bonus for over 6 months, it is inconceivable what would transpire to the hundreds of millions that will follow.
But there is hope. And we now have the opportunity to right the wrong. With Irfaan Ali as President, Guyana is destined for greatness. Putting politics aside, Irfaan Ali is the best Guyana has to offer. The nation is at a critical juncture where astute leadership and economic shrewdness are warranted, and Irfaan Ali is the only one who could deliver.
With the reversal of over 200 tax measures, implementation of a robust Local Content Policy that would ensure our local businesses benefit from activities emanating from the oil sector, higher public servant wages, and generous cash transfer to parents and elderly, our economic landscape would surely transform. And there is a ton more, however, in the interest of time, I would end here.