PRIME Minister (PM), Brigadier (Ret’d) Mark Phillips, during the GAICO Construction and General Services annual awards dinner, in his speech, highlighted Guyana’s remarkable economic growth and praised the company for its contributions to national development.
In his keynote address, Prime Minister Phillips emphasised Guyana’s extraordinary economic performance, and noted that the country’s GDP surged by 49.7 percent in the first half of 2024.

According to the Office of the Prime Minister (OPM), the non-oil economy demonstrated robust growth at 12.6 per cent, while the construction sector expanded as well by an impressive 43.7 percent.
“GAICO exemplifies what is possible when businesses embrace opportunities that seek to create a conducive business environment for our people,” he said.

The OPM said the Prime Minister acknowledged Komal Singh, the Managing Director of GAICO, for his efforts in transforming the company into a model of Guyanese entrepreneurship.
PM Phillips highlighted the GAICO’s recent achievements, which include the establishment of a state-of-the-art fertiliser blending plant and the implementation of innovative waste management solutions. He said that this initiative demonstrates that local entities can achieve global standards while maintaining Guyanese values.

“Emphasising the crucial role of private sector partnerships in national development, Prime Minister Phillips noted, “Guyana’s future is not built by government alone, nor by businesses in isolation. It is through collaboration—public and private sectors working hand in hand—that we will realise the full potential of our nation,” the OPM said.

He also underscored the government’s commitment to creating an environment where businesses of all sizes can flourish, ensuring that the benefits of development reach every corner of Guyana through increased investment in education, gender equity initiatives, and programmes designed for underserved communities.

Additionally, the OPM said the event celebrated GAICO’s employees and acknowledged their role in the company’s success. The Prime Minister praised GAICO’s investment in its workforce, operational expansion, and sustainable practices.

On its website, the company said that it is integrally involved in the development of Guyana in the civil works sector, marine sector and most recently in the Oil and gas sector in the areas of oil spill response and waste management. The company comprises of over 74 trained professionals and approximately 30 more subcontracted professionals. Together, the GAICO family has been able to execute various high risk projects safely and timely.
First Lady Arya Ali was one of the special invitees at the event.