Georgetown : President Donald Ramotar told media operatives on Saturday that Chinese investors are welcome in Guyana and their investments are important to the country, similar to other investments.
The President was responding to a question at a media conference at State House which focused on fears expressed by political rivals of a Chinese takeover of the country’s economy whilst taking up residence in Guyana.
“We need investment now, and if you follow the trend of the world, Chinese seem to have more capital available that is helping to drive the world economy,” the Head of State observed.
He pointed to China’s investment in Africa specifically referring to a railway connecting Nairobi to Mombasa. “Major investment is going into this, helping the infrastructure that was not done for hundreds of years,” he pointed out.
He urged the media ‘you should not fall for the popular thing about criticising the Chinese. Their investments are important to us, and we welcome their investment.”
Asked whether there was a think-tank group to determine if the projects being funded by China were good deals, and if this group saw the inclusion of financial experts, the President said he was unaware that he had to set up a think-tank group for everything the Chinese proposed.
“If the Chinese want to come and build a ship that is working from Berbice to Georgetown, should I set up a think-tank to look at that?”
President Ramotar added that Guyana has very clear guidelines for investments and that he is not of the opinion that the Chinese are acting outside of those.
The President was also asked if Guyana could have accessed better rates from other banks. He, however, responded that it is quite the opposite, as China offers the best deals. He explained, “They are far more favourable and the speed at which the Chinese can conclude transactions is especially favoured by the Government.”
