The decision by Muri Brasil to pull out of its exploratory venture is the latest example of the harm being inflicted on Guyana’s developmental prospects by the A Partnership for National Unity (APNU) and the Alliance For Change (AFC) constant attack on investors in Guyana, Finance Minister, Dr Ashni said on Sunday.
Muri Brasil Ventures Inc, in a statement said that “although the process was legal and transparent, this decision is due to the misinformation, prejudice and hostility to this proposed survey by persons and agencies which are fostering an adverse investment climate in Guyana”.
Anti-development
According to Dr Singh, this pattern of “anti-development behaviour” by the joint opposition can be observed as they have repeatedly protested any project geared towards the development of Guyana.
“The Amaila Falls Hydro Project, the Cheddi Jagan International Airport Expansion Project, the Specialty Hospital Project and the Marriott Hotel Project are all examples of the opposition creating havoc with its one-seat majority in the National Assembly, spreading misinformation and driving away investors,” he said.
He said the same anti-development attitude is seen even at the policy level in the chambers of the National Assembly.
“The Anti- Money Laundering and Financing of Terrorism Amendment Bill and the currently debated Public Procurement Commission Bill saw objection from the opposition, though neither party can identify any real issue of contention with the respective bills,” said Dr Singh.
The minister said similar anti-development sentiments are reflected with the cutting of the 2012 and 2013 national budgets.
“It is important to note that every investor that has been chased out of Guyana represents hundreds of job opportunities for Guyanese that will not be realised.
“The public should not take such coordinated sinister acts lightly as they are indicative of how little commitment the AFC and APNU have to the progress and development of Guyana,” he said.
Muri Brasil Ventures Inc on Saturday announced that it had made a decision to no longer pursue its geographical and geophysical survey following the permission granted by the Guyana Geology and Mines Commission (GGMC) to do so.
The company in a release said the decision was made on December 30, 2013.
The Natural Resources and Environment Ministry had come in for heavy criticism for the deal which was not fully disclosed at a parliamentary committee meeting when the time was opportune.
Study
Permission was granted on November 7, 2012. The locally registered company had said it was never issued a prospecting licence or mining licence, but expressed the hope of acquiring the relevant documents to facilitate mining if the study proves to be feasible.
“These kinds of exploration activities cost millions of U.S. dollars which can only be sourced as exploration investments from outside of Guyana.
“No such investments would be available if the investor is given no assurance that he will be granted prospecting licences. The investor takes a risk. If he or she is not assured of a potential return, investment capital will dry up and so will Guyana’s mining industry,” the company had said.
APNU Member of Parliament Joseph Harmon had called on Natural Resources and Environment Minister Robert Persaud to step down, contending that he had misled the National Assembly.
In response, Minister Persaud had produced an excerpt of the transcript from the sector committee meeting which was held in the Parliament building. The document was produced by the Parliament Office of Guyana.
