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Q2 net profit fell by 18% to $637 million.

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Total income rose by 12 percent in the same period.

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Guyana to ‘remove bureaucratic hurdles’ for Saudi investors

  • Mohamed Irfaan Ali, President of Guyana, made this promise to a 65-member Saudi delegation from the private and public sectors
  • Al Badr said his government would set up a Saudi desk at the Ministry of Finance to help facilitate trade

Guyana has pledged to a group of Saudi investors visiting the South American country to remove all hurdles in the way of making investment.

Mohamed Irfaan Ali, President of Guyana, made this promise to a 65-member Saudi delegation from the private and public sectors, led by Deputy Minister for Investors Outreach Badr Al Badr, who attended the Saudi Arabia-Guyana Investment Engagement.

“We want to partner with you. We want to partner with the world, but you must understand that we also want to move quickly. We have an obligation to the people of this country to deliver to them as fast as we can,” said Irfaan Ali, according to local media reports

He added: “I can assure you that we can get our technical people in a room with you, and we will not leave until we finish the project.”

Al Badr said his government would set up a Saudi desk at the Ministry of Finance to help facilitate trade, but the Guyana president wanted to go further with establishing economic and diplomatic ties.

“We are prepared to make the land available for you to establish your embassy in this region in Guyana, and I expect in the next quarter that we must have positive movement on this. We are ready for you to have your permanent footprint here,” Irfaan Ali said.