AS we approach vision 2030, it is evident that the President Irfaan Ali-led government will leave no stone unturned in pursuing continued national development in the next five years. At his inauguration ceremony last Sunday, the President delivered bold and powerful words, renewing his call to shape Guyana’s future as he embarks on a second term.
“Our vision is a Guyana as a rising frontier where oil fuels ambition, sugar and rice sustain, and gold and diamonds anchor prosperity,” he proclaimed.
Guyana’s rapidly expanding economy, powered by oil revenue, has created the foundation for accelerated growth across all sectors. This was reflected in the last two national budgets, the last of which hit the trillion-dollar mark. Before oil, Guyana’s overall GDP growth stood at 0.7 per cent in 2015, 3.3 per cent in 2016, 2.1 per cent in 2017, 4.1 per cent in 2018, and 4.7 per cent in 2019.
In contrast, the non-oil economy expanded by 11.7 per cent in 2023 and a further 13.1 per cent in 2024, outpacing pre-oil growth rates by a wide margin. Traditional industries such as mining, agriculture, fisheries, and forestry have all benefitted from this momentum.
President Ali emphasised that oil revenue will not make Guyana a “one-sector nation.” Instead, it will be used to drive diversification, create more jobs, raise incomes, and secure broad-based prosperity. This direction is a continuation of the government’s 2020-2025 plan for economic diversification.
In the next six weeks we will see the roll out of several major projects reflecting this vision. These include a second Gas-to-Energy (GtE) plant in Region Six, a new bridge across the Corentyne River linked to Suriname, fertiliser and natural gas plants, new urban centres such as Silica City among other projects. While infrastructure remains a priority, there are plans for continued technological advancement that will see the modernisation of government services being done at a faster and seamless pace. These projects are all geared towards both individual livelihoods and the wider economy. Opportunities for local companies to provide services for industrial, construction, engineering and other economic development will be made available.
Take the Gas-to-Energy project as an example. Once completed, it is expected to cut electricity costs by up to 50 per cent, reduce reliance on imported fuel, and significantly minimise outages and disruptions, marking a major step towards a sustainable energy future. Similarly, the soon-to-be-opened Demerara River Bridge and ongoing road network upgrades will address long-standing infrastructure challenges, directly easing the traffic woes faced by many Guyanese. Investments in affordable housing, free university and tertiary education, and expanded healthcare services further underscore the administration’s commitment to fueling ambition with tangible progress.
President Ali has pledged to “convert ambition into action, and action into transformation.” Ultimately, his second term will be defined not by promises, but by the government’s ability to deliver results that improve lives across the nation.
DISCLAIMER: The views and opinions expressed in this column are solely those of the author and do not necessarily reflect the official policy or position of the Guyana National Newspapers Limited.