–GO-Invest head says tax incentives, diversification, digital reforms strengthen country’s investment appeal

GUYANA remains a promising destination for foreign investors, offering stability and generous tax incentives, according to the country’s Chief Investment Officer and Agency Head of the Guyana Office for Investment (GO-Invest), Dr Peter Ramsaroop.

In a video posted on his Facebook page, Dr Ramsaroop explained that although Guyana is now a major oil producer, it has always maintained a diversified economy.

There is significant room for investors to take advantage of traditional sectors, particularly agriculture, the Chief Investment Officer said.

According to Dr Ramsaroop, the agro-processing sector presents exciting opportunities for economic diversification.

“Agriculture and agro-processing [are] now tax-free sectors, corporate taxes [are] zero. You can’t ask for better than that from a country,” Dr Ramsaroop said, noting that with the region’s high food import bill, the agriculture sector is even more critical.

He further stated that many investors initially come to Guyana seeking opportunities in the oil and gas sector, but when they analyse the broader economy, they recognise the opportunities that exist beyond the energy industry.

Previously, President Dr Irfaan Ali stated that Guyana is positioning itself to become the Caribbean’s leading food production and distribution hub by leveraging its raw agricultural output, expanding agro-processing capacity, and investing in major infrastructure to reach global agro-industrial scale.

Agro-processing infrastructure is also expanding beyond Guyana’s coast with the establishment of 15 new agro-processing and packaging facilities across multiple regions.

This year, $113.2 billion has been allocated in the national budget to support food security initiatives.

The government has outlined plans to invest heavily in storage and post-harvest infrastructure, green technologies and the expansion of industrial complexes, to open 100,000 acres of new arable land to boost agricultural capacity.

The People’s Progressive Party/Civic (PPP/C) Government has emphasised that agriculture and food security remain central to Guyana’s economic strategy for resilience, reaffirming its commitment to continuing to develop the sector and improve the livelihoods of farmers.

GUYANA IS COMPETITIVE

Dr Ramsaroop further underscored that efficient regulatory frameworks are in place, making Guyana “extremely competitive”.

“We’ve got one of the best investment regimes around the world, and it’s protected by law,” the Chief Investment Officer said.

He added, “So, you can bring your capital into Guyana, and you can take your capital back out at no penalty. You can repatriate all your profits. In many countries, you’re not allowed to do that. In Guyana, we still allow foreign companies to own land. I don’t know how long that will last, but the fact is, you can apply for land and own land in Guyana.”

Additionally, he stated that the local private sector has stepped up, pointing to investments that have resulted in infrastructure of international standards.

“We want the private sector to do well. Our job is to make ease of business, the best way possible. Government is not here to run anything. Our job is to make sure every investor, every business owner gets a chance to be successful,” Dr Ramsaroop said.

“Their goal is to make money. All we ask is that they follow our laws, treat our people well, pay them well and be part of local content.”

He added that the country’s laws are in place to provide structure and efficiency.

Speaking further on reforms, Dr Ramsaroop also highlighted the ongoing digitisation efforts that are expected to transform Guyana’s economy.

President Ali’s directives under the National Digitalisation Programme mark a decisive step towards modernising Guyana’s public sector and economy.

Digitisation, the conversion of analogue information into digital form, is a prerequisite for the broader goal of digitalisation, which involves using technology to streamline processes, improve efficiency and foster transparency.

By mandating strict timelines for the initiative, President Ali has signalled that the era of paper-heavy procedures and fragmented records must come to an end.

Dr Ramsaroop noted that even GO-Invest has undergone digitisation, highlighting the introduction of the artificial intelligence application, ‘Ask Henry’.