AS Guyana accelerates efforts to diversify its economy beyond oil and gas, Vice President and People’s Progressive Party/ Civic (PPP/C) General Secretary, Dr. Bharrat Jagdeo, has spotlighted a series of emerging growth poles that the government will strategically focus on in the PPP/C’s next term in office.

Dr. Jagdeo, while speaking during a press conference at Freedom House, Georgetown, outlined to reporters a bold national plan that will sustainably generate growth in the build-out of a post-oil economy.

The Vice President said that the government was looking at the services sector, noting that it will provide a major growth boost for the economy.
With over 85 per cent forest cover and one of the world’s richest biodiversity hotspots, Guyana is positioning itself as a premier global eco-tourism destination. Dr. Jagdeo said the government was already moving to incentivise large-scale eco-lodge investments in the hinterland.

“In terms of assets for eco-tourism, we have the best in the world. We have more bird species than the entire United States of America. We have huge biodiversity hotspots,” he noted.

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He highlighted that Guyana’s tourism product is already gaining traction, with increasing visitor arrivals, new international airlines, and the ongoing construction of 12 international-standard hotels as clear signs of growing investor and consumer confidence.

The Vice President also pointed to agriculture as a major growth driver in the coming years, emphasising its central role in food security and regional export potential.
A $1 billion aqua-culture industry is within reach as Dr. Jagdeo touted big plans to develop the industry, targeting the expansion of rice, soya and others.  Processing hubs in Lethem and other elements will aid in the transformation of the agriculture sector.

Adding to this, Dr. Jagdeo said the country’s cooking oil production could be done right here in Guyana, while pointing out that the dairy industry will also see a significant boost, alongside increased meat production.

“We need to expand that, even to cater for the changes. People are eating more chicken by far, pork, beef, or whatever else. And that’s why you see the prices ticking upwards, because the demand is there,” he said.

The third growth pole he pointed to be the integration between Guyana and its neighbour, Brazil. The deep-water port will link the two nations and turn Guyana into a key trade corridor, Dr. Jagdeo said.

The Vice President further pointed to the information technology sector as a huge growth pole and noted that, with cheaper electricity, Guyana will be able to host data centres and other developments.
“So, there are new growth poles, several of those, that we are working on at this stage now, and big investments will flow into these areas to make sure they grow rapidly,” Dr. Jagdeo added.
Supporting these growth poles will be a massive infrastructure network that is already in the works.

A new highway from the new Demerara River Bridge to Wales on the West Bank of Demerara, the Palmyra to Moleson Creek road expansion, the four-lane road to the airport and other projects will form a crucial component of the major shifts in settlement patterns, economic activities and logistics.