The Guyanese government is keen on making the most of its potential to become one of the power players in the oil industry in the global market. Thus, it has become among its top priorities to implement initiatives in its development agenda that align with this goal. True enough, oil, as a natural resource, is rich in the country.
However, harnessing the full extent of the oil industry’s potential, as well as the other sectors’, is also dependent on ensuring that all enabling mechanisms are in place to pave for growth. Among these enabling mechanisms is the development of complementary Information and Communication Technology (ICT) initiatives.
Guyana has long integrated ICT into its economic development knowing full well the crucial role it plays in all industries. Foremost, it has continuously harmonized legislation, standards, and best practices relating to ICT to ensure that it is responsive to Guyana’s cultural, economic, and social integration. The main drive is to ensure that Guyana can be at par with the modern economic world that is technology-driven, borderless, and fast-paced and bridge the gap between the hinterland and the coastland.
With the Prime Minister directly overseeing the growth of the ICT sector, the government leads in this digital transformation starting with its services. As it stands, Guyana has allotted $1.3 billion for ICT development that would be allotted for projects that would increase access to affordable and more stable data and bandwidth, improve ICT literacy, enable job creation, and streamline policies and legislation.
Putting this vision into reality are the big strides that the ICT sector took in 2017 and 2019 with the rolling out of submarine fiber optic cables and services. This will be further augmented in 2022 with more forthcoming projects along this line. Training is being provided to the locals to become globally competitive in ICT while 200 new hubs will be developed in the hinterland areas so that they can keep up with this transformation. And, Guyana is just getting started.
These exciting prospects boost the investment potential in the country, attracting local and international players alike. To make the most of this opportunity, it would be best to have a trusted partner to help establish your business in the country. Excel Guyana, with its strong leadership, can provide you with the assistance you need – from government relations, recruitment and labour, finances, security, travel and immigration, aerial survey and GIS mapping, procurement and logistics, among others.