Guyana’s economy offers promising prospects as it positions itself to take on the global market with the government at the helm of pursuing aggressive development for the country. At the forefront in this economic revolution is Excel Guyana with three decades of experience in helping businesses find opportunities and become a contributing presence in the country.
Investing in Guyana
Guyana is set to become the largest oil producing country in the world. With its ideal location in accessing global markets within the northern South American region, it is eyed to be a regional investment destination.
It is a resource rich country that has been attracting more and more investors as it offers low operation cost and fiscal incentives for investment. Foreign investors will find it easy to acclimatize as it is an English-speaking country in the region and is composed of a culturally diverse population of Amerindian, European, African, East Indian, Chinese, and Portuguese sub-cultures.
Opportunities for Foreign Investors
In 2020, its real GDP growth rate was 43% and is projected to increase over the next five to 10 years with its transformative economic development plan. Guyana offers investors promising prospects in these areas:
- Energy – Aside from focusing on oil exploration and production, the country is also set on utilizing natural gas as alternative power generation on-shore.
- Agriculture – The country is food secure and offers stable climate as it is far from the hurricane and earthquake zones. With a diversified agriculture-based economy, the country is presently utilizing only 8.4% of its land for agriculture that can still be expanded to 60%.
- Tourism – Guyana is the No. 1 eco-tourism destination in the world and has been reputed to promote sustainable tourism with its beautiful people, virgin rainforest, and rich flora and fauna.
- Forestry – The country has seen increased production, export, and investment in value-added forest products promoting the use of lesser known specifies. Despite this, it still has low deforestation rate.
- Mining – It is richly endowed with minerals, semi-precious stones, industrial materials, base metal, ferrous metal, petroleum, and energy materials and provides significant opportunities for potential investors in extraction, processing, and export.
- Information and Communications Technology – Guyana already has two submarine fiber optic cables and services. In addition, the government is serious on developing infrastructure and expand Guyana’s digital footprint through ICT innovation, entrepreneurship, and investment to secure international competitiveness.
- Manufacturing – The country provides affordable power supply, duty-free market, local resources, and low “time to market” lead time.
- Services – It offers a varied range of services from construction; accommodation and food; art, entertainment, and recreation; transportation and storage; professional, scientific, and technical services; wholesale and retail; repair; and administrative and support.
Strong Government Relations
Serious in providing strong support to the private sectors, Guyana has been implementing policies that are private sector focused. It also created G-iNVEST, a semi-autonomous body with the focus of contributing to Guyana’s Economic Development.
Learn more by downloading this booklet from the Government of Guyana and G-iNVEST.