Maritime Development in the context of a Blue Economy
His Excellency Dr.Mohamed Irfaan Alli at SAG Gala Ball 2023
Guyana’s President Dr. Mohamed Irfaan Alli has called on members of the Guyana Shipping Association (SAG) to work together to build the shipping industry which is on an upward trajectory as the country’s economy expands.
Speaking at the 10th Annual Dinner of the SAG at the Guyana Pegasus, President Alli told attendees that as the local economy expands shipping, logistics and the maritime sectors will be key in capitalizing on the opportunities of the transformative industry.
“If we are to build an economy with small population and small capital formation we have to learn to work in consortium, we have to learn to come together. We are not competing against each other and this is an important decision businesses need to make in Guyana, why is it we can’t sit together at the table to see whether maybe this is a model in which we can raise capital from our diaspora, from the local population, from local equity fund, and maybe look at the building of an indigenous national shipping company,” President Alli said.
According to the President, there is need to quickly modernize the sector with new laws in keeping with international standards, ensure that the private sector and human resources are in a position to benefit from the spinoff through adequate training and certification.
President Alli said that plans are in place to make Guyana an important regional shipping hub.
We cannot understand the importance or the strategy of developing the maritime sector in Guyana if we do not understand where the region is going and where the world is going.
“You hear from time to time that Guyana is strategically located geographically but we have never really taken advantage of it. We will use our geographic position to build a maritime sector, a shipping sector, a logistic sector, a trade sector, an economic zone that is second to none in Latin America and the Caribbean.
The Head of State said this is the path the country must take because many international companies are already positioning themselves to make Guyana a manufacturing hub so the government is working with the shipping association and maritime and national companies to come up with a solution that is sustainable, viable and economically feasible.
According to the President, the government has invested heavily in the removal of wreckage in the Demerara River and he called on the private sector to place an important role in the establishment of a Deep Water port.
“We believe strongly that the private sector must play an important role in the establishment of any Deep Water port wherever its located. We have already reached out to many of the local players on putting together a consortium for us to work on the development of the Deep Water Port. For all the models that we have seen the government may have to play a role as a partner in capitalizing this transformative post. We are not building a Deep Water port for only one sector, a deep water port that is deeply integrated with the transformation of the economy and the diversification of the economy, we can create a massive logistic chain through Guyana,” President Alli said.
He emphasized that the Blue Economy in not only for the shipping industry. “It will be how our water ways and ocean are treated in the context of climate change. It will be adaption measures that are important for the ocean to survive.”
He said while the Guyana in pursuing an oil and gas sector it is simultaneously pursuing a development trajectory and remains a leader on the carbon credit market.
The President concluded, “The Blue economy will bring opportunities and challenges and the shipping industry is a subset of the it is indispensable to the global economy. The SAG is on the right track when it begins to do its own future development in the context of the Blue Economy. The Shipping Industry cannot be built outside of construct of the Blue Economy because you are now going to build an industry that is sustainable and functional in the economy 2030 and beyond.”
