efficiency across all maritime operations”, minister Indar said. Looking at global trends, minister Indar pointed out that “The maritime industry itself is on a growth trajectory, projected to exceed 4.2 trillion by 2031.” The minister praised seafarers, captains, port workers, and oil and gas professionals for their contributions to building a stronger, more resilient maritime economy. “We are mandated to make Guyana that place. That is why a deepwater port has been on the horizon,” the minister said. Minister Indar explained that deepening river channels for larger Panamax and post-Panamax ships will lower import costs, translating into reduced prices for consumers. Work is currently taking place to modernise Guyana’s regulatory laws that govern port facilities. “With a reformed port act put in place and the establishment of an independent port authority will ensure transparency, accountability, and world-class 8 BUSINESS VIEW CARIBBEAN VOLUME 12, ISSUE 09
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