President Ali Pledges Diversification Beyond Oil in Second Term
By Antonio Dey | HGP Nightly News
President Irfaan Ali has pledged that Guyana’s booming oil and gas sector will continue to expand, but emphasized that his administration will not allow the economy to remain dependent on petroleum.
Speaking during his inauguration ceremony at State House on Sunday, Ali said his government will pursue new exploration under a stronger production sharing agreement (PSA) to ensure that benefits are greater, gains are wider, and wealth is “truly for the people.”
“Yes, our oil and gas sector will continue to grow, expanding production and revenue for our people. But we are not a one-sector nation. We are building a diversified economy that will generate jobs, raise incomes, and secure prosperity,” the President declared.
Ali outlined his administration’s plan to strengthen traditional pillars of the economy — including mining, agriculture, fisheries, and forestry — while also creating new growth drivers. These include world-class tourism, a thriving blue economy, competitive manufacturing, cutting-edge ICT, and knowledge-based industries.
He stressed that Guyana’s economic future depends not only on the ambitions and policies of government but also on a robust private sector, which he said is poised to play a leading role in wealth and job creation.
