BY ANTONIO DEY | HGP NIGHTLY NEWS
President Irfaan Ali has underscored the need for a broad-based approach to Guyana’s development, warning that the country must not “put all its eggs in one basket.”
Speaking at the inaugural Energy Insights Breakfast Brief, hosted by the Georgetown Chamber of Commerce and Industry (GCCI), the Head of State stressed that while the oil and gas industry offers immense opportunities, prudent management and economic diversification are essential to ensure sustainability and protect future generations.
“It takes planning, vision and discipline to translate oil wealth into development. What is referred to as the Dutch Disease—the curse of corruption, the widening gap between the rich and the poor—these are the pitfalls we must guard against,” the President declared.
Dr. Ali said his administration is actively exploring other economic stimulants, including construction, agriculture, and digital technology, to balance growth and shield the nation from the risks of overdependence on oil revenues.
“The government’s role is to develop the policy framework that supports the expansion of businesses, fosters innovation, drives transformation, and creates quality jobs,” he explained.
The President also highlighted artificial intelligence (AI) as a key pillar in Guyana’s future economy, revealing that government is engaging international stakeholders to position Guyana as a regional leader.
“Guyana cannot chase short-term gains and mortgage its future. We must be known for having AI investments backed by a data centre of regional scale—the largest in the Caribbean—so that we can become a net provider of data centre facilities,” he said.
He further called on the private sector and other stakeholders to join the government in driving this transformative agenda, especially in building human capital for both oil and non-oil industries. Training programs, he noted, will be rolled out extensively to equip Guyanese with the skills required in crude oil development and beyond.
