State of Qatar, Cooperative Republic of Guyana … Growing Relations Towards Promising Partnerships -1-

HE President of the Cooperative Republic of Guyana added that the talks he held in Qatar were successful and his meetings with several officials in the country covered topics related to investment opportunities in Guyana and the role of partnership with the Qatari private sector in advancing it, expressing his hope that all these meetings would enhance the available opportunities between the two countries and consider the available potential in Guyana including the joint interest of the two countries and their friendly peoples.

In his meeting with the Qatar Chamber (QC) First Vice-Chairman Mohamed bin Twar Al Kuwari, HE President of the Cooperative Republic of Guyana stressed his country’s interest in developing trade cooperation with the State of Qatar across many sectors including oil, gas, and food security, particularly that Qatar attaches great attention to theses two sectors and have made many achievements in them. His Excellency called on Qatari investors to invest in his country that offers investment opportunities in many sectors, mainly in oil and gas, infrastructure, tourism, services, hospitality, agriculture, and others.

Guyana has a very open investment policy that is free of discrimination. It enjoys a stable and safe investment environment, and is currently focused on building a competitive, sustainable, and resilient economy.

Guyana is located on the northeastern coast of the South American continent. It is bordered by the Atlantic Ocean to the north, Suriname to the east, Brazil to the south and southwest, and Venezuela to the northwest.

With an area of 214,969 square kilometers, it is the third smallest country in South America after Suriname and Uruguay. It is home to about 800,000 people, with the city of Georgetown as its capital. About 35 percent of Guyana’s area is located in the Amazon basin. The name Guyana originates from the language used by the indigenous people, meaning the “land of abundant waters,” as it enjoys an extensive network of rivers, waterfalls, and bays. It includes 276 waterfalls and four major rivers, making hydroelectric power a reliable source of electricity. Sunlight throughout the year also creates a constant source of solar energy. The water in Guyana is not only linked to the abundance of fresh river water but also includes the Atlantic Ocean, which Guyana overlooks with a coastline extending 459 kilometers. The great Kaieteur Falls in Guyana, with a height of 226 meters, is about five times higher than Niagara Falls.

Guyana is famous for gold, diamonds, and semi-precious stones production, with the mining sector exporting these materials and other high-quality bauxite, copper, iron, nickel, and aluminum. Guyana is seeking to attract foreign investments to support its economy. Guyana’s economy has witnessed a radical transformation since the discovery of crude oil there in 2015 and commercial exploration in 2019. According to a statement issued by ExxonMobil in 2020, Guyana has a large, high-quality oil reserve, estimated at 33 billion undiscovered barrels, with the potential to produce 750,000 barrels per day by 2025, which could significantly change Guyana’s economic prospects and put it on the world’s richest countries list.

Source: Qatar News Agency