–President Ali outlines bold, expansive vision for economic and social evolution
–junior stock exchange, SMEs loan, new tax incentives, more cash grants among comprehensive measures
— says gov’t to create jobs, continue investments in education, health
PRESIDENT Dr. Irfaan Ali has unveiled a sweeping five year agenda for what he describes as “the most ambitious phase” of Guyana’s economic and social transformation, anchored in diversification, digitization, and broad based prosperity.
Addressing an audience of government officials, diplomats, private sector leaders and citizens at the Arthur Chung Conference Centre (ACCC) on Wednesday afternoon, President Ali said that the re elected Peoples Progressive Party/Civic (PPP/C) administration would “build on the historic achievements” of the past five years, with a sharpened focus on ensuring that growth is widely shared.
At the centre of the plan is a major push to deepen financial inclusion and expand access to capital.
He revealed that the soon-to-be-established Guyana Development Bank, capitalised with US$200 million, will provide zero interest, zero collateral, micro credit to small and medium sized enterprises, women owned businesses, young entrepreneurs, and persons living with disabilities, alongside structured mentorship and training.
The President also announced the creation of a junior stock exchange, and new investment vehicles to allow ordinary Guyanese here at home and in the diaspora to participate directly in large industrial projects through equity promising guaranteed returns.
“We are building an ecosystem where financial knowledge, unprecedented access to capital and new avenues for investment converge,” he said, adding:
“This holistic strategy will ensure that Guyana’s prosperity is widely shared and deeply inclusive for every citizen. My Guyanese brothers and sisters, this is our vision regarding financial and economic empowerment, a vision which, when realised, would ensure that every citizen has the knowledge access and opportunity to prosper; a vision that encourages our citizens to dream of bigger possibilities.”
SMEs will be able to access up to $3 million without collateral at zero interest, with a further $7 million available through co financing with commercial banks at preferential rates. Agent-banking networks, digital banking, and mobile wallets will be rolled out to reach remote communities, supported by legal and regulatory reforms, and a modernised Bank of Guyana.
He announced, too, that Budget 2026, to be presented early in the new year, will make provision for an $100,000 cash grant to every Guyanese citizen aged 18 years and older.
He further disclosed that additional cash grants will be paid over the next five years, as the government continues to roll out measures aimed at improving household welfare, and strengthening disposable income.
Alongside new financing instruments, the President pledged additional tax incentives and targeted cash grants, building on more than G$70 billion already distributed in direct transfers in the government’s last term in office, and extensive tax reductions on income, fuel, and key household costs.
President Ali stressed that diversification would run “both vertically and horizontally”, with value added agriculture, manufacturing, tourism, and the creative industries all identified as pillars of a more resilient economy.
Major industrial parks at Wales and in Berbice will be powered by cheaper energy from the gas to energy project, expanded solar generation, and the revived Amaila Falls hydropower project.
JOBS, EDUCATION & HEALTH
On the social side, the President vowed to sustain and expand jobs, and to continue “massive investments” in education and health.
Education will remain free at all levels, with the Guyana Online Academy of Learning (GOAL) and the new AI driven Digital School offering thousands more scholarships and personalised learning nationwide.
In health, government spending has almost quadrupled since 2019, with 12 new hospitals underway, telemedicine at over 80 sites, and plans for a modern oncology centre and a life-sciences park.
The Head of State also reiterated commitments to build 40,000 new homes over the next five years, improve water and sanitation systems, modernise transport and urban infrastructure, and advance a comprehensive digital government platform to make public services faster, more transparent, and accessible.
“For us, the people come first, always. It is a guiding principle, putting people at the centre of every decision that shapes the economic blueprint,” the President said.
NEW TAX-INCENTIVES
Meanwhile, Dr. Ali revealed a wide-ranging package of tax incentives aimed at deepening economic diversification, encouraging private investment, and easing the financial burden on households, small businesses, and vulnerable groups.
Central to this is the creation of special development zones which will be detailed in the 2026 national budget.
These zones will operate under a tax free incentive regime, targeting sectors that generate export earnings, or replace imports, with a particular emphasis on agricultural technology, agro processing, and non oil economic activity.
In a bid to support both businesses and families that rely on ‘pick up’ vehicles, the government, he said, will introduce a flat tax on double cab pick-ups, regardless of age.
Vehicles up to 2,000cc will attract a tax of $2 million, while those between 2,000cc and 2,500cc will face a $3 million tax. Officials say this will make it easier to renew or upgrade transport capacity, especially for enterprises operating in agriculture, construction, and services.
Signalling an intent to reward work, and encourage formal employment, the administration has pledged to continue raising the income tax threshold over the next five years, with the goal of approaching levels seen in more developed economies.
At the same time, it will abolish net property tax on individuals, a move framed as an incentive for citizens to build savings and assets.
“These plans represent a blueprint for transformation that can be tangible in your daily life, in the work you do, the wages to earn… with your trust and partnership will turn this moment into a movement, a momentum that carries growth in our homes,” the President said.
A series of targeted tax measures will be used to stimulate investment in care and social services. Companies engaged in childcare and elderly care will see corporation tax removed on income earned from these services. The government will also co invest in childcare and elderly care facilities from 2026, on the condition that providers benefiting from concessions agree to cap their fees at affordable rates.
