SHOCKING: Guyana’s President Announces Plan To Make Georgetown A Tax-Free City Due To…..

SHOCKING: Guyana’s President Announces Plan To Make Georgetown A Tax-Free City Because Of Rising Sea Levels

In a shocking move, Guyana’s President Mohamed Irfaan Ali has announced plans to make Georgetown, the country’s capital city, a tax-free city. This bold decision is aimed at mitigating the effects of rising sea levels, which pose a significant threat to the city’s existence ¹.

Georgetown, situated at the mouth of the Demerara River, is about six feet below sea level, making it vulnerable to flooding. The city’s sea wall and extensive network of canals are struggling to keep the Atlantic Ocean at bay. Climate Central predicts that Georgetown will be one of nine cities expected to be underwater by 2030, emphasizing the need for urgent action ¹.

President Ali’s plan to make Georgetown a tax-free city is designed to attract businesses, investors, and talent to the city, thereby boosting its economy and creating opportunities for its residents. The president believes that by making Georgetown a hub for business and innovation, the city can become more resilient to the challenges posed by climate change.

“We must think about the future, think about the floodplain, think about a natural expansion of the city, and think about the industrialization that will take place,” President Ali said, highlighting the need for proactive measures to address the city’s vulnerabilities ¹.

The government’s plan to develop a new city, Silica City, is already underway. Located in the hilly region of Guyana, Silica City is envisioned as a smart city, powered by renewable energy, and designed to accommodate over 12,500 households. However, with Georgetown being the country’s commercial hub, it is essential to ensure the city’s survival and prosperity ¹.

Making Georgetown a tax-free city is a strategic move to incentivize businesses to stay and invest in the city. This decision is expected to create jobs, stimulate economic growth, and increase the city’s competitiveness. The government is confident that this initiative will attract new businesses, entrepreneurs, and innovators, who will contribute to the city’s development and resilience.

“The livelihood of thousands of people, both within Georgetown and outside of Georgetown, depend on the city being maintained as an attractive and efficient urban center providing services to local and international clients,” said a government official, emphasizing the importance of preserving Georgetown’s economic viability

².While the plan to make Georgetown a tax-free city is a welcome move, it is crucial to address the city’s underlying infrastructure challenges. The government must invest in upgrading the city’s sea wall, improving its drainage system, and enhancing its flood protection infrastructure. Additionally, measures must be taken to promote sustainable development, reduce waste, and encourage environmentally friendly practices.

As Guyana navigates the challenges of climate change, it is essential to adopt a multi-faceted approach that addresses the country’s economic, social, and environmental vulnerabilities. The government’s plan to make Georgetown a tax-free city is a step in the right direction, but it must be complemented by sustained investments in infrastructure development, sustainable practices, and climate resilience.

In conclusion, President Ali’s announcement to make Georgetown a tax-free city is a bold move that acknowledges the city’s vulnerabilities and seeks to address them through innovative economic policies. As Guyana embarks on this new initiative, it is crucial to prioritize sustainable development, climate resilience, and infrastructure development to ensure the long-term viability of Georgetown and the well-being of its residents.

References:

¹ Sukhnandan, S. (2023, November 25). Will Guyana’s capital city, Georgetown, sink by 2030?

² Caribbean News Service. (n.d.). Towards Making Georgetown, Guyana a Top-Class Caribbean City.

³ Government of Guyana. (2024, October). Guyana’s Low Carbon Development Strategy (LCDS) 2030.