Georgetown, Guyana (May 13,2016)-On May 13, 2016, Minister of Natural Resources, Honourable Raphael Trotman, received a courtesy call from newly appointed Ambassador to the People’s Republic of China, H.E Baynay Karan and Ambassador to the United States of America H.E Riyad Insanally.
During the visit, Minister Trotman updated the Ambassadors on the current priorities of the Ministry, its ongoing engagements with Chinese and American companies and partnership and investment opportunities that are available within the extractive industries sector. The Minister also shared some cross cutting areas for support which include training and capacity building, policy development, and the establishment of a Regulatory Agency for Guyana’s growing Petroleum sector.
In response to a question from Ambassador Karan about due diligence procedures for the extractive industries sector, Minister Trotman noted the important role the Ambassadors can play in facilitating due diligence procedures that will help the Ministry to regulate investment interest in the natural resources sector. He reiterated the Ministry’s commitment to a culture of transparency and open governance by noting that “we are not looking for fly by night startups, but for credible people who are willing to invest and their investment will be protected”. Ambassador Insanally was also in support of such a role noting its importance in helping the Ministry to network with credible investment partners overseas.
The Ministry will furnish the both Ambassadors with general information about ongoing developments in the Natural Resources Sector and has committed to mutual and continuous sharing of relevant information to help both Ambassadors to be better prepared to advance Guyana’s interests on foreign soil.
