Fri 16th Aug 2019

Congratulations to the people & government of Guyana: world’s fastest growing economy

According to an article in The Vincentian newspaper of 9 August 2019, Guyana now has the world’s fastest growing economy.

SVG Green Party sends congratulations to the people and government of Guyana on having potentially the world’s fastest growing economy. We salute you for this remarkable achievement. Guyana has a GDP of $3.63 billion and the economy is expected to grow by 33.5 percent and 22.9 percent in 2020 and 2021 respectively.

Guyana’s growth rate of 4.1% during 2018 is quite remarkable in comparison to the average of 1.1% in the Caribbean, with much of the growth concentrated in the areas of construction, services, wholesale and retail trade and financial and insurance activities.

Vincentian-born, retired British Royal Air Force Engineer Warrant Officer Ivan Bertie O’Neal BSc (hons), MSc, MBA believes that economic growth in SVG is pitiful in comparison to Guyana. The ULP regime has been an economic failure. The poverty and destitution throughout SVG illustrates this.

Guyana is focused on getting significant inflows of foreign direct investment to its shores as this stimulates the economy. A Green government would bring foreign direct invest to SVG to strengthen the economy and create new jobs.

Guyana is encouraging businesses to form, expand and build capabilities necessary for growth. A Green government would set up infrastructure to help SVG businesses flourish and grow.

Guyana intends to lift all economic sectors and improve the standard of living and quality of life for all Guyanese. A Green government would create new economic sectors in SVG. This would create thousands of new jobs and improve the standard of living and quality of life for all Vincentians.

Guyana’s leading Business Support Organisation emphasised the need for “critical investments” in the country’s social and economic infrastructure to advance the country. Guyana is looking to invest in transport infrastructure, green and cheap energy to help manufacturing and value-adding, and in its human capital.

A Green government would update SVG’s social and economic structure and bring cheaper water and cheap electricity from renewable energy.

Guyana has free education from pre-school to university, as the country believes that there is a strong correlation between the state of the economy and the quality of education.

A Green government would create free, high-quality education from pre-school to university in SVG, and use the Singapore model of having education as the engine of a knowledge-based economy. The focus on tourism as the engine of the SVG economy is a joke and has made our country poor.

An SVG Green Party Government would open a Vincentian embassy in Guyana to promote bilateral trade and increase SVG exports.

An SVG Green Party Government would build a high-quality School of Navigation to promote an SVG fish industry and use the fish industry as a major source of revenue with an annual rate of return of about EC$2.5 billion.

According to Warrant Officer Ivan Bertie O‘Neal BSc (hons) , MSc, MBA, sending a small number of students to study in Taiwan is not cost effective and does not achieve a multiplier effect in education in SVG.

A Green Government would build a science and technology university in SVG, so that thousands of SVG’s children can go to university each year. This will achieve a substantial number of university graduates in SVG. This ECONOMY OF SCALE creates low-cost education, and more importantly, an education multiplier effect in SVG. It will boost the economy and end the perpetuation of generational poverty and destitution in SVG.

SVG needs to follow Guyana’s example and invest in our people, businesses and country to create substantial economic growth.

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