The recent GBJ webinar, “What a Difference a Decade Makes!” explored Guyana’s remarkable journey over the past ten years with a keen eye toward the country’s promising future. As the panelists, including Ambassador Greg Quinn, VC Professor Paloma Mohammed, and others, shared their insights, a clear picture emerged of Guyana’s remarkable transformation and the challenges it must navigate in the years to come.
At the heart of Guyana’s remarkable progress lies the discovery and development of its vast oil and gas resources. What was once a risky and uncertain endeavor has blossomed into a veritable “gift that keeps on giving,” as Ambassador Quinn eloquently described it. The country’s ability to move from discovery to production in a mere four years, an unprecedented feat in the industry, has been a testament to its resilience and adaptability.
However, the panelists were quick to caution that this windfall of wealth must be carefully managed and leveraged to ensure sustainable and equitable development. VC Professor Mohammed highlighted the critical role the University of Guyana has played in this regard, not only in training the next generation of professionals but also in shaping the policies and frameworks that will guide Guyana’s energy future.
Looking ahead to 2025, the panelists identified several key priorities for Guyana. Firstly, the need to diversify the economy and create meaningful employment opportunities beyond the oil and gas sector emerged as a pressing concern. As Ambassador Quinn noted, the country’s small population and high demand for skilled labor pose unique challenges requiring innovative solutions, including a thoughtful approach to immigration.
Secondly, the panelists emphasized the importance of investing in infrastructure, education, and social services to ensure that the benefits of Guyana’s oil wealth are equitably distributed and felt by all citizens. VC Professor Mohammed’s insights on the University of Guyana’s efforts to expand access to higher education, particularly in underserved regions and indigenous communities, underscored the institution’s pivotal role in this endeavor.
There is an overarching need for strong governance, transparency, and accountability, which underpin these priorities. As Dr. David Lewis, Caribbean Policy Consortium, pointed out, Guyana’s upcoming elections in 2025 will be a crucial test of the country’s democratic maturity and ability to maintain political stability amidst tits transformative changes
Looking ahead to 2025, the panelists painted a picture of a Guyana that has the potential to become a regional leader in sustainable development, leveraging its natural resources to uplift its people and secure a prosperous future. However, they also cautioned that this vision will require a steadfast commitment to long-term planning, cross-party collaboration, and a willingness to learn from the successes and failures of other resource-rich nations.
As Guyana embarks on this next chapter of its journey, the GBJ-CPC webinar series Transforming Guyana has provided a valuable roadmap, highlighting the critical milestones and challenges ahead. Guyana’s future looks increasingly bright, with the University of Guyana at the forefront of this transformation and with the continued engagement of the Guyanese diaspora and international partners. Guyana is poised to become a shining example of what can be achieved when a nation harnesses its natural wealth for the betterment of its people.
