As US oil giant ExxonMobil prepares for first oil in 2020, former Private Sector Commission (PSC) Chairman Eddie Boyer is urging that the traditional sectors that have carried the country’s economy over the years not be forgotten.
In his final address as Chairman, Boyer called for much focus to be placed on Guyana’s traditional sectors.
“We should not look at oil and gas as the saviour only, but look at the industries that carried us to this point over the years and we are definitely conscious of those industries – the manufacturing, agriculture, mining and all the other sectors that we embrace in the Private Sector,” he posited.
According to Boyer, much of the focus this year was to get the local Private Sector prepared for the mammoth opportunities that would be available as Guyana got into oil production.
On this note, he urged that the Local Content Policy be examined carefully, emphasising that it should be balanced and advantageous to everyone.
“With the advent of oil and gas, Guyana has already started to attract investors and the industrialisation of the nation has begun. The potential influx of capital and growth in GDP [Gross Domestic Product] has already resulted in foreign and local companies becoming interested in expanding through partnerships and investments, and we see the need to be prepared,” Boyer posited.