Guyana's President Bharrat Jagdeo. AFP PHOTO

According to the Guyana High Commission in London, the President said the Stern report provides a valuable framework to start linking the issues of global warming to the challenges of economic growth, as he referred to Guyana’s enormous virgin rain-forest being an asset for the globe. He then expressed his intention to work with the UK and other partners to develop innovative policies to maximise its benefits.

Jagdeo noted that the Stern report validates many of his Government’s policies for the sustainable use of Guyana’s rainforest and expressed the hope that the evolution of carbon credit trading systems would allow Guyana to transform the forest into an economic, environmental resource for the benefit of the globe.

He also reiterated his Government’s commitment to a fully sustainable forest industry.

Jagdeo departed Guyana for London on Sunday and the High Commission noted that, while there, he has been leading a series of discussions with investors, business organisations and Government officials about his plans to stimulate significant expansion of Guyana’s private sector and to draw attention to the wide-range of opportunities for investment in his country.

In this light, Jagdeo, on Tuesday evening addressed a gathering of Guyanese and British business persons as he outlined Guyana’s investment opportunities.

He referred to “Exciting, new developments in areas such as information and technology services, diversified agriculture and agro-processing, and eco-tourism”, the High Commission reported.

Meanwhile, referring to the Investment Conference being hosted by British Prime Minister Tony Blair, the President said the initiative was a welcome one and noted that its genesis resulted from a conversation between the Prime Minister and several Heads of Government at last year’s Commonwealth Heads of Government meeting in Malta.

“I am delighted to come to London to talk about the tremendous opportunities our region offers the international business community. Too often, the dialogue between the UK and countries such as ours is focused on the challenges and difficulties we face-instead of the immense opportunities countries such as Guyana present investors with vision and a capacity to deliver,” the President told the gathering.

“It will be good to talk about ways in which our traditional agricultural offerings can be modernised, and ways in which our traditional magnificent tourism offerings can create solid business opportunities for local and international investors,” he further noted.

Jagdeo added, “ We will talk about how to become increasingly ready for a far greater level of diversity in our economies-for services to education, health care and infrastructure development; for a massively expanded information and communications technology sector; for aquaculture and non-traditional agriculture; and for meeting the demands of an increasingly sophisticated eco-tourism market-place.”

Jagdeo then spoke of the unique selling points of Guyana, pointing out that the country is “the size of Britain, but with a population less than that of Birmingham” and Guyana being “the only English-speaking nation in South America” with “vast natural resources, including one of the largest virgin rainforests in the world-our unique geographic and socio-political heritage is a comparative advantage to be grasped.”

Jagdeo said work is continuing to transform all of these into competitive advantage with many of the foundations now in place including a young, well-educated population, stable and open financial markets, a corporate tax regime that allows for the full repatriation of profits, easy market access to in excess of 277 million consumers and a political environment with all major political parties supporting a market-oriented approach to economic growth.

He also expressed his belief that these foundations, coupled with a national economic vision based on prudent macro-economic policy, sustained investment in public services and support for a modern and vigorous private sector, will present ever increasing opportunities for business to generate exports, and support sustainable economic growth.

Jagdeo said Thursday's conference will be a part of achieving this vision as “it will provide opportunities for business with an eye for success, and strengthen our Governments’ ability to fulfill our international obligations”.

The Caribbean Investment Conference, which the President will be addressing on Thursday, along with other Caribbean Governments’ representatives including Prime Minister of Barbados, Owen Arthur, Prime Minister of Belize Said Musa and 200 senior Government and business leaders, will be held at Lancaster House. The Foreign and Commonwealth Office in collaboration with the Caribbean Council is delivering the conference under the Chairmanship of the Minister in the Foreign and Commonwealth Office with responsibility for Caribbean countries’ relations.

During the conference, all participating countries will have the opportunity to promote their respective trade and investment opportunities with each country having the various promotional materials on display.