GEORGETOWN, Guyana – Guyana's government says it has allocated more than one billion dollars towards modernizing the maritime sector as it also seeks to enhance regional trade.
Prime Minister Mark Phillips addressing the the Shipping Association of GuyanaPrime Minister retired Brigadier Mark Phillips, addressing the Shipping Association of Guyana, said that the Irfaan Ali administration is committed to developing the country’s maritime sector, including improving port infrastructure, streamlining customs processes, and upgrading regulatory frameworks.
“Millions of dollars have been invested in enhancing the maritime space, including developing deep-water ports and improved docking facilities,” Phillips said, adding “over one billion dollars have been allocated to modernising the sector, with significant upgrades to the Vreed-en-Hoop Buoys and Beacons facility, which plays a critical role in navigational safety.
“This investment ensures that our ports are equipped to handle larger vessels and increased cargo traffic,” he said, noting that to address current challenges, the government is working on comprehensive plans to further upgrade our port facilities, enhance security measures, and streamline regulatory processes.
“Our goal is to create an environment where maritime operations can thrive, ensuring the safety and efficiency of our shipping corridors…Our government is committed to fostering a culture of innovation and supporting research and development within this sector.”
The Prime Minister also highlighted the recent completion of the national Maritime Economy Plan (MEP), noting that the government is also focused on investing in advanced security technologies and collaborating with international partners to bolster the Maritime security framework.
He said that developments like the Liza Phase 1 and Liza Phase 2 projects have significantly increased Guyana’s oil and gas production capacity, adding that this growth necessitates advanced logistics and shipping solutions.
Phillips also stressed the importance of collaboration between government, the private sector and international partners.
“This sector presents immense potential for job creation and economic diversification. Therefore, we must harness these opportunities through strategic investments and partnerships,” he added.
