https://kiskadeewatch.com/opinion/letters/govt-should-be-aware-that-doing-business-with-colombia-comes-with-risks/
Gov’t should be aware that doing business with Colombia comes with risks
Dear Editor,
The recent announcement that the Ministry under embattled Minister Edghill’s responsibility is considering working with the Guyana-Colombian Chamber of Commerce to potentially carry out a number of key infrastructural projects raises significant concerns. Colombia has a long and entangled history with the illegal narcotic trade and given the current money laundering concerns facing Guyana, and the need for strengthening our safeguards against associated financial risks, it would be wise to give preference to other highly capable and reputable countries for the project portfolio under consideration. It is estimated that approximately $11 Billion USD annually is laundered through Colombia and this risk was referred to as “a significant threat to economic stability and the integrity of the financial system”. (Reference: Sentinel). The Chamber may have already put in place the necessary safeguards to avoid Guyana’s entanglement in money laundering, but as we say in our country, “better safe than sorry”.
Our government should make the U.S., UK, China, Japan and the EU our preferred group of Tier 1 partners for any major projects being undertaken in the country and only consider high risk countries such as Colombia once the opportunities available to the Tier 1 group have been fully exhausted. CRG recommends using this approach to safeguard against money laundering and for leveraging the Tier 1 group’s strong systems for added financial protections. In addition, their experience and expertise in project execution makes them an easy choice for major projects, which avoids future controversy and unnecessary risk to our nation’s financial system.
Given the apparent mismanagement involving the Minister in the MV Barima tragedy that has led to the largest tragedy ever faced by our nation, CRG is not surprised that the Minister would seriously consider bypassing better partnerships and entertain entangling our nation’s development with a high risk country like Colombia, which has been on the radar of the U.S. for illegal drug trafficking. The Ministry’s project portfolio should have already been assigned to companies within the Tier 1 group of preferred countries, and Colombia’s Chamber of Commerce should have been politely told thank you for your interest and enthusiasm to participate in our development, but at this moment we are focused on strengthening our partnerships with our top tier partners for our current development needs.
Best regards,
Mr. Jamil Changlee
Chairman
The Cooperative Republicans of Guyana
Source: Kiskadee Watch
Exxon blocks Kashagan’s settlement proposal over Kazakhstan’s US$5 billion fine, Bloomberg News reports
https://kiskadeewatch.com/guyana/exxon-blocks-kashagans-settlement-proposal-over-kazakhstans-us5-billion-fine-bloomberg-news-reports/
Exxon blocks Kashagan’s settlement proposal over Kazakhstan’s US$5 billion fine, Bloomberg News reports
(Reuters) – ExxonMobil blocked a proposal for partners in the Kashagan oil field in Kazakhstan to make a settlement with the country’s government over a disputed US$5 billion environmental fine, Bloomberg News reported yesterday, citing people familiar with the matter.
The North Caspian Operating Company (NCOC), which includes Exxon, Shell, Eni and TotalEnergies has been in a legal standoff with the Kazakh government, which accuses it of sulphur storage-related environmental violations.
Here are more details:
- Kashagan, an offshore field in the Caspian Sea, is one of the world’s largest oil discoveries in recent decades, with an estimated 13 billion barrels of recoverable reserves.
- Kazakhstan late last month restarted enforcement action to collect a 2.3 trillion tenge ($5.22 billion) fine from the international consortium operating the Kashagan oil field, Russia’s Interfax news agency reported.
- A Kazakh court dismissed a lawsuit by the field’s operator seeking to overturn the decision to begin enforcement proceedings to collect the fine, Interfax news agency reported late last month.
- The status of the penalty has become a central issue in the oil major’s talks with Kazakhstan over a proposed expansion of production at the Kashagan oil field, the Bloomberg report said.
- Exxon told the Kazakh government that a potential $80 billion investment in the field would depend on resolving the dispute, according to the Bloomberg report.
- Exxon was not in favour of the recent proposal and persuaded TotalEnergies to its side, the report said.
- Exxon did not immediately respond to Reuters’ request for comment.
Discussion
Source: Kiskadee Watch
Hospitality Institute to be completed by year end – Min Rodrigues
Hospitality Institute to be completed by year end – Min Rodrigues
The Hospitality and Tourism Training Institute (HTTI), currently under construction at Port Mourant, Berbice, is approximately 80 per cent complete and is expected to be fully completed by the end of 2026.
Providing a progress report of the project, Minister of Tourism Industry and Commerce, Susan Rodrigues held a meeting with the Minister of Education Sonia Parag, alongside representatives of Niagara College, Canada, who are assisting with the development of the Institute’s hospitality and tourism curricula.
The tourism ministry who is overseeing the project indicated that that the works are moving apace steadily and should is expected to be completed by the end of this year.
While also informing on the curriculum development process, the Ministry of Education in collaboration with Niagara College, noting that it aims to ensure that the programmes offered at the Institute meet the current and emerging needs of Guyana’s tourism and hospitality sector and align with regional and international industry standards.
During the discussions, the Ministry of Tourism, Industry and Commerce provided input on the sector’s priorities, including occupational demand, service standards, skills gaps and the competencies required of graduates entering the workforce.
These efforts form part of preparations to equip the Institute to deliver training that responds to the demands of Guyana’s growing tourism and hospitality industry.
Minister Rodrigues was accompanied by Permanent Secretary Roger Rogers, Director of the Guyana Tourism Authority Kamrul Baksh and Director of Tourism Sunalie Raghubar.
Minister Parag was joined by Permanent Secretary Shannielle Hoosein-Outar, Chief Education Officer Sadam Hussein and Chief Planning Officer Mishka White-Griffith.
Niagara College was represented by Curriculum Development Expert Joyce Bott and Hospitality Expert Eric Mauke.
Once completed and operational, the HTTI will support the development of a skilled workforce to meet the growing demands of Guyana’s tourism and hospitality sector.
Discussion