Since Guyana is gearing towards a more competitive economic development through sustainable energy, the Guyanese government, through His Excellency Dr. Mohamed Irfaan Ali, has doubled their efforts to put Guyana in the international market and expand the movement of goods and people by bridging the gaps between the neighboring regions. Hon. Deodat Indar, Minister within the Ministry of Public Works, confirmed that in 2022, a total of $96.1 billion has been allocated to the ministry, which is responsible for the country’s infrastructure. This allocation will ensure government improves the public infrastructure in the country, which will directly benefit individuals and the business community.
While the Guyanese offshore oil and gas industry remains a strong asset to the economy, Guyana is set to create more markets and increase a trading environment that is beneficial not only for the local but also among the international businesses as well through the establishment of more infrastructure projects to kickstart this expansion. An allocated budget of $20.8 billion for the gas-to-energy project will enable the government to phase out the use of expensive and carbon-intensive heavy fuel oil and see the establishment of a power plant to generate 300 megawatts of power as well as a Natural Gas Liquids (NGL) plant to reduce costs substantially.
Guyana has transitioned from leaning towards its oil and gas produce to using its human capacity in order to foster growth and utilize many of its untapped resources. In 2022, over 2,300 job opportunities were created in the region and as the economy rises rapidly, the Migration Policy Institute (MPI) has projected that Guyana will need an additional 160,000 workers to keep up with its economic growth. Non-oil economy is expected to skyrocket in its growth, driven primarily by rebounds in rice farming and gold mining, as well as continued expansion in construction activity and wholesale and retail trade and repairs.
The country is also expecting gain more international investors as Guyana is set to become a conglomerate in the Caribbean especially focusing on the gas, oil, mining, agriculture, and tourism sectors. Offshore production will also be utilized, hence, the infrastructure projects such as building of roads, bridges, ports and floating production, storage and offloading vessel are one of the few developments Guyana has slated for the future.
With the economic development looking good in prospect, Guyana has been very appreciative of every investor, local or international, in helping to fast-track the government projects and help the locals establish their businesses and create more jobs. Through the collaborative efforts of all the parties involved, Guyana will not only be known in the international scene as the global leader in total offshore discoveries, but also a pioneer of using sustainable energy in the Caribbean.
About Excel Guyana
Excel’s leadership has more than 30 years of experience in building businesses in Guyana and the CARICOM region. 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.
In recent years, Excel Guyana had grown to provide comprehensive business management solutions for international investors and local business partners. The firm’s Recruiting Division, led by Mr. Ewan Shanks, focuses on a Recruitment Process Outsourcing (RPO) model of service, working closely with companies to recruit the right talent for the right position. Additionally, the firm launched a Procurement Division, led by Mr. Eugene Gonsalves, which has secured exclusive agreements with world-class manufacturers and distributors to supply the companies that are building Guyana’s future. To add more value with faster processing and lower acquisition costs for imports and exports, Excel has launched its Customs Brokerage Division which is led by Mr. Ronald Ramcharran Customs Brokerage. Likewise, to satisfy the growing demand for supplies and services in Guyana’s marine and offshore oil and gas industry, Excel has established the Marine and Offshore Services led by Mr. Steve Sinanan.
Recognizing the need for standardized systems with international partners, Excel recently became the first Guyanese business to earn its Integrated Management Systems (IMS) Certification from SGS, the world’s leading ISO certification company. The company has implemented three ISO systems including the ISO 9001:2015 Quality Management System, the ISO 45001:2018 Occupational Health and Safety Management System, and the ISO 14001:2015 Environmental Management Systems.
Excel provides clients with all that they need to establish successful business in Guyana through government relations and orientation, construction management, procurement and logistics, employee relocation, recruiting and human resources, as well as marine and offshore services.
Learn more by calling +592 223-0646 at www.excelguyana.com.