OAS launches collaboration with private sector

The Organization of American States (OAS) has introduced a new collaboration platform designed to unite the private sector with governments and social actors across the Americas. Secretary General Albert Ramdin unveiled the initiative, emphasizing its role in driving economic growth and social development throughout the region.

"This is a structured platform designed to move from dialogue to impact, leveraging the convening power of the OAS and working with governments, the private sector, and social actors across the Americas," Ramdin stated. The platform seeks to create a unique architecture for collaboration among businesses, strategic international partners, and financial institutions.

Launched ahead of the OAS's 56th General Assembly, the initiative aligns with the theme "Toward a Prosperity Agenda: Positioning the Americas for the New Wave of Opportunities." Discussions during the launch focused on key areas such as energy and critical resources, artificial intelligence, digital transformation, and trade facilitation. A special dialogue also addressed the Panama Canal's potential as a strategic hub for trade and regional integration.

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This is a structured platform designed to move from dialogue to impact, leveraging the convening power of the OAS and working with governments, the private sector, and social actors across the Americas.

Ramdin specifically pointed to the significant economic potential in Suriname and Guyana, suggesting they could become the world's second-largest oil region. However, he cautioned that resource wealth alone is insufficient for sustainable growth. "Natural resources alone are not sufficient," he asserted, emphasizing the critical need for investments in local companies, robust governance, transparency, and a stable investment climate to maintain investor confidence.

He further advised that the oil and gas sector should not solely focus on raw material export but should also be utilized for developing regional value chains, supporting local industries, creating employment, and fostering sustainable investments. Ramdin concluded that the future prosperity of the Americas hinges on effectively connecting economic growth with democratic governance, security, and sustainable development.

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Natural resources alone are not sufficient.