— says business community has important role to play in overall development
His Excellency President Dr Irfaan Ali underscored that the oil and gas revenues Guyana earns must not be a means to an end, but a catalyst that drives sustainable development and social equity across the country.
The Head of State told the business community during the inaugural Georgetown Chamber of Commerce (GCCI) Energy Insights Breakfast that they play an important role in ensuring the translation of wealth into opportunities and improved standards of living.
The event was held at the Pegasus Suites and Corporate Centre.
“Oil revenues are already funding schools, hospitals, roads, water treatment plants, and bridges. They are financing transformative projects that were once only dreams. But for us, oil is not an end in itself. It is a means to an end. It is a means of accelerating—a catalyst, a steppingstone.”
The President said that if oil is the fuel, then sustainable development must be the destination. He underscored the important role the business community has to play, along with the Government, in ensuring that sustainable development and social equity are prioritised.
“The beating heart of any economy is the business community. Oil is opening doors, yes, but we must not be content with simply walking through those doors. We must build new ones.”
The President added, “Oil alone won’t cook our food, won’t educate our children, won’t provide the best health care possible, won’t build our businesses. It takes planning, discipline, and vision to translate oil wealth into development.”
He emphasised that social equity must guide policies to ensure that no group, village, or hinterland community is left behind.
“Because development is not real until it is inclusive. Development is not measured by barrels of oil pumped, but by the dignity of lives uplifted.”
Sustainable Development Goals
Pivoting to the Sustainable Development Goals (SDGs), President Ali said that Guyana cannot chase short-term gains and mortgage its future. Its development pathway must be in harmony with the United Nations SDGs.
These, the President said, include:
SDG 7: Affordable and Clean Energy — hydropower, solar farms in the hinterland, and natural gas as a transition fuel
SDG 8: Decent Work and Economic Growth — thousands of jobs being created, along with skills training so that Guyanese can fill those jobs
SDG 9: Industry, Innovation, and Infrastructure — bridges across rivers, ports to connect Guyana to the world, and ICT hubs to connect us to the future
SDG 13: Climate Action — protecting our forests through the LCDS 2030, showing the world that oil and environmental stewardship can co-exist
SDGs 14 & 15: Life Below Water and on Land — managing our resources responsibly so that our children inherit abundance, not scarcity
“Let us commit—the Government, private sector, civil society, and citizens alike—to ensuring that when history judges us, it does not say that Guyana had oil. Let it say that Guyana had vision, that Guyana had courage, and that Guyana had the wisdom to power a sustainable future for all. Because if we use today’s wealth to build tomorrow’s foundation, then Guyana will not just be rich in oil, but rich in opportunity, rich in equity, and rich in hope.”