–President Ali; points to importance of leveraging experience of international stakeholders through synergies

AS Guyana continues to experience rapid economic growth, driven largely by its burgeoning oil-and-gas sector, the government is placing a strong emphasis on public-private partnerships (PPPs) to ensure that the country’s economic success is both inclusive and sustainable.
President Dr. Irfaan Ali and key government officials have repeatedly underscored the importance of collaboration between the public and private sectors in building a diverse economy that benefits all Guyanese.

In a recent interview on The Swift Hour with Concordia Chief Executive Officer (CEO) and Co-Founder Matthew Swift, the Guyanese leader said that his government is placing intense focus on strengthening PPP frameworks.

“Public-private partnership is a very important aspect of the work that we are doing. Expanding public-private partnership is a key aspect of building out the economy, but more importantly is creating an environment in which the private sector can grow.
“And that is what we are focused on. The government must be that enabler of growth and development; that creator of economic opportunities and investment opportunities,” Dr. Ali said.
He said that the government’s role is not to directly pursue business opportunities, but to create a supportive framework that fosters investment.

This, according to him, involves establishing a competitive, policy-driven environment that encourages investor-confidence, and promotes private sector growth.
President Ali emphasised that the government’s focus is on crafting policies and conditions that make it easier for businesses to invest and expand, ensuring the private sector can thrive and contribute to overall economic development.
President Ali pointed out that the government is focused on “[inviting] new investors from all over the world into the private sector to create an environment in which there is a partnership between the more mature private sector and our local private sector that enables faster technology transfers, greater access to capital formation…”

The government has been working closely with local and international private companies to foster an environment that promotes investment in non-oil sectors.
As one of the fastest-growing economies in the world, President Ali stated that reliance on oil revenues alone would not be enough to secure long-term prosperity in Guyana.
Instead, he noted that a diversified economy that incorporates industries such as agriculture, manufacturing, tourism, and renewable energy, underpinned by robust partnerships between the government and private enterprises is key to sustainable development.
One example of PPPs being implemented is the government’s collaboration with the private sector on infrastructure development such as bridges, roads, and schools.

To encourage private sector investment in non-oil sectors, the government has introduced a series of tax incentives and policy reforms aimed at improving the ease of doing business in Guyana.
In addition, the government has partnered with local business associations, such as the Georgetown Chamber of Commerce and Industry (GCCI) and the Private Sector Commission (PSC) to create an enabling environment for businesses to thrive.