Go-Invest anticipates multimillion-dollar investment

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(Guyana Chronicle): OCEAMAR, a leading Mexican offshore service provider has turned its attention to one of the world’s newest petroleum states, Guyana, with the aim of making a multimillion-dollar investment.

Guyana, with a Gross Domestic Product (GPD) of around US$4 billion, is pegged to grow tremendously in the coming years because of its new-found oil wealth. And the anticipated growth has already attracted several international companies, many of whom are interested in investing in the nascent oil-and-gas sector.

Oceamar is among the latest investors which have set their sights on Guyana. The company, according to its website, focuses on meeting the needs related to the maritime and oil industries, offering a comprehensive and specialised service. It operates in all the ports of the Gulf of Mexico.

Chief Executive Officer (CEO) of the Guyana Office for Invest (Go-Invest), Dr. Peter Ramsaroop, has said that Oceamar, while being a large oil-support company, focuses on many components such as logistics, food management and so forth. The company offers air, land and maritime support.

Dr. Ramsaroop and his team met with a delegation from Oceamar and Mexico’s Ambassador to Guyana, Jose Omar Hurtado Contreras, on Monday.

“The discussions are still in the preliminary stages, but we outlined the local investment opportunities to the company,” said the CEO during an interview with the Guyana Chronicle on Wednesday.

When asked how much money the company is looking to invest in Guyana, Dr. Ramsaroop said discussions have not reached that stage as yet, but, considering the types of service Oceamar offers, he foresees the investment running into hundreds of millions of GYD.
In addition to Oceamar, the CEO said a number of other oil-support companies are looking to establish local operations.

With a projected GDP growth of 26.2 per cent for 2020, Guyana, being one of the only countries in this hemisphere expected to see positive growth, is seen as the ideal investment destination.

And it was already reported that the Government of Guyana is actively encouraging Foreign Direct Investment (FDI) and offering tax concessions for priority projects through Go-Invest.