–President Ali emphasises, points to crucial developments in mining, agriculture sectors

WITH the emergence of the nation’s booming oil and gas sector, the Government of Guyana continues to prioritise the country’s natural resources.
Shedding light on the major strides the country’s natural resources and agricultural sector have made, President Dr Mohamed Irfaan Ali, on Saturday, addressed the nation from the Kingston Seawall esplanade where he outlined the nation’s agricultural development and the government’s plan to sustainably develop the natural resources.

Since taking office, the People’s Progressive Party Civic (PPP/c) has emphasised the significance of the country’s natural resources alongside the oil and gas industry. Over the past three and a half years, the government has worked tirelessly to ensure the continued development of the sector. Among the major investments in this area is the mineral mapping exercise with American company Global Venture Consulting.
Emphasising the importance of this and similar ventures made by the government, President Ali said this is the first step in crafting a comprehensive plan for the sustainability of Guyana’s natural assets.
“This study will give us a better understanding of our natural assets as we plan a comprehensive strategy in how we sustainably develop and target our natural assets in a diversification and expansion of our economy,” President Ali said.

According to the mid-year report shared by President Ali, the government’s countless investments continue to have far-reaching impacts on the mining and agriculture sectors.
In providing a breakdown of the report, he shared that the country has experienced exponential growth in the first half of the year, and his administration is working to ensure Guyana continues on this upward trajectory.
Addressing the mining sector, the Head of State shared there has been a more than 60 per cent boost.

“In the extractive sector, mining and quarrying sectors are estimated to have grown by 64.3 per cent in the first half of the year, driven by growth in the petroleum and other mining industries.
“The bauxite industry has some challenges in the first half of the year, which contracted by 20 per cent. However, with the largest producer expecting to improve output in the second half, the outlook for the sector is very positive for the remainder of the year, with growth now projected at 41.3 per cent for the full year,” President Ali said.
As one of the country’s major revenue areas, gold mining has been revitalised in the years and months; resulting in a positive impact on the sector, as the President stated, “The gold industry also had a contraction of 10.3 per cent in the first half of 2024.”

The President further elaborated stating, “The other mining and quarrying areas, which comprise sand, stone, diamond, and manganese, are estimated to have grown by 45.5 per cent in the first half of the year, driven by greater activity in the construction sector. This industry is now projected to grow by 24.7 per cent in 2024.”
Shifting his focus to agriculture, the rice industry has seen a major economic development, with more than 15 per cent growth in the first half of 2024. This massive boost over just a few months is largely owed to the various innovative policies put in place by the Government of Guyana. As the Head of State explained.

“We had tremendous growth in the rice industry; the rice industry grew by an estimated 17.9 per cent in the first half of the year. And this growth is as a direct result of the impetus we have placed in the industry, the investment in drainage and irrigation.”
The sugar industry has been a precedented boom as the government’s efforts to revitalise the sector continue to be seen. As President Ali shared, “In the first half of this year, not only did we have the issue of the drought that affected the growth of cane in the fields, but also the period of regrowth, the period of having new production ready for the factories.”

He further added that, “We are hoping and projecting that in this second crop, there will be an enormous bounce back from this contraction in the first half of the year.”
Tackling the poultry and livestock sectors, the President shared the investment will continue in the sectors, advancing personnel, knowledge, and the use of technology.
As he stated, “The large poultry investors and farms in the country are now investing in technology, especially given the fact that the demand for poultry is growing at an exponential rate.”

He then went on to state that, “The forestry sector is estimated to have grown by 13.2 per cent in the first half. The forestry sector is once again vibrant. Community forestry associations and organisations are once more revitalising themselves, expanding, reinvesting, and retooling.”
He further added that, “The fishing industry is also estimated to have expanded by 27.7 per cent in the first half of this year and we are going to continue to see greater expansion in this industry.”
President Ali’s address and report showcase the government’s commitment to sustainable development across all natural resource sectors. By balancing growth in traditional industries with the emerging oil and gas sector, Guyana aims to create a diversified and resilient economy.