Media Advisory: Guyana Business Journal & Caribbean Policy Consortium hold a webinar on Transforming Guyana: Guyana and Her Diaspora.

June 11, 2022

MEDIA ADVISORY:

Guyana Business Journal & Caribbean Policy Consortium hold a webinar on Transforming Guyana: Guyana and Her Diaspora featuring Mr. Arthur Deakin, Dr. Vibert Cambridge, Dr. Lear Matthews, and Ms. Rosalinda Rasul.

Recording Available Here:

Panelists:

Arthur Deakin, Energy Practice Co-Director, American Market Intelligence (AMI)

Dr. Vibert Cambridge, Professor, Media Arts & Studies, Ohio University

Dr. Lear Matthews, Professor, Department of Community and Human Services, State University of New York, Empire State College.

Ms. Rosalinda Rasul, Head of Diaspora Unit, Ministry of Foreign Affairs & International Cooperation Guyana

Moderators:

Dr. Terrence Blackman, Medgar Evers College at the City University of New York, Guyana Business Journal (Moderator)

Dr. David E. Lewis, Caribbean Policy Consortium & Manchester Trade Ltd. Inc. (Moderator)

Key Quotes:

“… the size and and the scale and the speed of the development and discovery of these resources we haven’t seen it in anywhere else in recent times, I. think 50 of the total offshore resources discovered in the entire world have been in Guyana since 2015 so this has been really incredible and with this excitement it’s also important to take a step back, it doesn’t mean that Guyana is going to continue finding resources at this pace I mean it would be nice if they did but it’s it’s unlikely so it’s really taking advantage of this investor momentum and this desire for oil and gas right now from the entire world to capitalize on getting the investment necessary to develop this this energy sector, setting the right framework, being as transparent as possible to ensure that investors feel safe coming into Guyana, that is what’s going to be needed to really capitalize on all these sources…” – Arthur Deakin

“…objective of the political system of the state is to establish an inclusionary direct democracy by providing increasing opportunities for citizens and their organization in the management and decision-making processes of the state with particular emphasis on those areas of decision making that directly affect their well-being it is saying that we’ve got to have a national conversation a more participatory thing it is asking for a shift in governance a shift in paradigm” – Dr. Vibert Cambridge

“..resentment between guyanese who remain and those in the diaspora must end.” Dr. Lear Matthews

“…we were more focused on getting a lot of work done and putting structures in place… absolutely no one in the diaspora is prevented from coming to Guyana or engaging the unit here in terms of their interests…” – Rosalinda Rasul

Executive Summary

Guyana discovered offshore oil reservoirs in 2015, and the first barrel of oil was produced in December 2019. Guyana’s new oil sector will transform the structure of the economy, including boosting Guyana’s export earnings. Guyana has been here before with the exploitation of its other natural resources, but this has not translated into significant benefits for the people of Guyana. This time could be different, with Guyana’s GDP per capita expected to increase from US$6,953 per capita in 2020 to US$15,153 per capita in 2023, and the country could become the world’s largest oil producer in per capita terms by 2030. However, if the benefits are to be equitably distributed, significant investment in human capital and physical infrastructure is required, including within the hinterland and rural areas.-Dr. Justin Ram.

How do we catalyze the role of the Guyanese Diaspora in this journey?

Terrence Blackman, Ph.D.

Founder & CEO Guyana Business Journal

Email: [email protected]

Dr. David E. Lewis

Founder and Co-Chair, Caribbean Policy Consortium

Vice President

Manchester Trade Ltd. Inc.

International Business Advisors

2200 Pennsylvania Avenue NW – 4^th Floor

Washington, DC 20037

Email: [email protected]