Senior Finance Minister tours Texila American University

Alludes to President Irfaan Ali’s vision for diversification of the economy including through world class education and health care

Georgetown, Ministry of Finance, July 13, 2021: As Government continues to place focus on the diversification of Guyana’s economy through the strengthening of new and emerging sectors, Senior Minister in the Office of the President with Responsibility for Finance, Dr. Ashni Singh today visited the Texila American University where he toured the facility and met with the University’s Dean Dr. Dheeraj Bhansal and other University representatives.

The Minister's visit was primarily to gain a better understanding of the institution's progress since its establishment in Guyana in 2011 and to discuss the University’s future plans for expansion. Upon learning about the progress at the institution and the number of persons, comprising Guyanese and other foreign nationals, who have graduated in the field of medicine thus far, Minister Singh commended the officials for this major achievement and for their investment in such a facility as he also noted that the institution boasts a modern and well-equipped campus which has produced to date, over 400 licensed medical doctors currently practicing not only in Guyana, but also worldwide.

“There was once the point when we used to send our students elsewhere to study medicine and come back to Guyana. We now have the very interesting phenomenon-the reverse phenomenon that young medical students are coming from the rest of the world to Guyana, studying to become a doctor, qualifying as doctors and going on to practice medicine, not only in Guyana but some of them have gone back to their home countries- Jamaica, Trinidad and Tobago, Africa, and India. It is extremely pleasing for me to observe how this private sector educational institution responded to the investment environment that we had created pre-2015 years, grew over the years and is now poised for even greater growth,” Minister Singh emphasized.

During the visit, the Senior Finance Minister spoke with some of the foreign students and alluded to President Irfaan Ali's vision for diversification of the Guyanese economy and Guyana’s potential as a destination for world class education and health care. Additionally, he posited that institution’s like Texila will aid in the country’s development.

“In our first budget when we returned to office in 2020, one of the initiatives was to remove the corporation tax on education and medical facilities. That was intended to even further enhance Guyana’s attractiveness as a destination for investment in education and healthcare and we see this not just from the point of view of widening the options that are available to Guyanese students…but we see investment in education and health care as a business. Also, from the economic standpoint, we see this as an important economic development,” Minister Singh said.

He outlined the fact that because the institution exists, it means that jobs are being created in the form of administrative staff, other support staff and also through the provision of support services.

“When international students come to Guyana not only do they come and pay their tuition fees, but they live in Guyana, they rent accommodation in Guyana, they consume goods and services, they interact with Guyanese,” he reminded.

Texila University came to Guyana in 2011 and acquired the plot of land on which the institution was constructed in 2014 as part of the People’s Progressive Party Civic (PPP/C) Government’s agenda to develop Providence and the East Bank area as a major corridor for economic development. Government had also indicated then, its recognition of Guyana as a potential destination for investment in new and emerging sectors including specialized education and specialized healthcare.

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