Looking into the New Year – The Top Industries that are Projected to Grow in Guyana

Excel Guyana is ringing in the new year with the business community to promote an economic strategy that will not only improve the operations in major sectors, but the Guyanese government will also aggressively implement its transformative development agenda. The Ministry of Natural Resources continues its critical work of ensuring that the oil and gas sector is prudently managed and that it benefits all stakeholders while shifting to a more sustainable energy.

“We believe that partnering up with established firms offering comprehensive services is a key factor not only in streamlining business ventures but it also lessens the risk in investing. As Guyana continues to expand its economic activities, having a trusted firm such as Excel Guyana can be a good advantage for international investors,” Mr. Kris Sammy, Chief Executive Officer of Excel Guyana said.

His Excellency Dr. Mohamed Irfaan Ali has focused the development of the oil and gas sector towards a sustainable future. He stressed that investment in Guyana’s future sustainability means investing long-term in assets and investing in people. Hence, supplementary allocations totaling over $47 billion for support to various major sectors including transport infrastructure, energy and security were secured through the Supplementary Appropriation Act. The economic impact of the oil and gas sector is huge, with the projection that by 2025 oil production could be 750,000 barrels per day (b/d) and by 2027 more than one million b/d of oil equivalent of some of the highest value, lowest carbon crude oil in the world.

The government will also be focusing on its human workforce by strengthening the agriculture and forestry sector. Guyana has made a historic milestone as the first country in the world to be issued with carbon credits for forest protection when Architecture for REDD+ Transactions (ART) TREES issued the world’s first TREES credits, making it the first time a country has been issued carbon credits precisely designed for the voluntary and compliance carbon markets for the successful mitigation of forest loss and degradation.

As the government start to rely on the agriculture sector, it has become clear that the roads and bridges must be developed in order to streamline the process. Hence, $18.2 billion was provided under the Ministry of Public Works for the provision of additional resources to facilitate the upgrading of roads and drains in various communities and $938.2 million for additional inflows under the Caribbean Development Bank’s program to facilitate advancement of civil works on the Linden to Mabura Road Project.

Guyana is projected to boost its economy more than double come 2023. The government, on its part, is gearing up to improve and build infrastructures that will facilitate a faster trade as more resources can be moved from one point to another. All of this is possible since Guyana is gearing towards a Public-Private Partnerships to streamline infrastructure projects.

About Excel Guyana

Excel Guyana’s is at the forefront of the local economic development and has helped many businesses across all sectors with services such as government relations, foreign investment, security management, local and international recruitment, organizational development, digital marketing, real estate, and many more. 

Excel’s expert team is the foundation for a fast-growing integrated company focused on offering comprehensive solutions to our clients and partners. Excel is committed to being a vital driver in the development of Guyana and welcomes interest from foreign partners that have skills and products that are essential to Guyana’s growth.

Excel Guyana is equipped with more than 30 years of experience in helping many businesses in Guyana and the CARICOM region to flourish. Entrusting your business and investments is a delicate process and you can be assured that with more than 10 years of local presence in Guyana, it has established business and supply chain networks in Argentina, Brazil, Canada, China, Colombia, India, Mexico, the United States of America, and Venezuela.

Contact Excel now and secure your Guyana business venture.

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