THE President of the Guyana Manufacturing and Services Association (GMSA), Rafeek Khan, has emphasised that the past year has been one of genuinely measured progress.
In the National Budget for 2026 it was said that Guyana’s manufacturing sector recorded a 20 per cent growth in 2025. This growth according to Khan is a testament to each of the businesses in the manufacturing sector and is a key pillar of manufacturing and employment in the national development of Guyana.
Local services are growing equally in alignment with the manufacturing sector, with progress across every sub-sector of our economy.
Reflecting, Khan said, “There was a growing demand locally for locally produced goods. Value-added products continue to grow, driven by economic consumption and export readiness. Our members are building the foundations of Guyana’s food security.”
The GMSA head added that the forestry sub-sector also continues to grow in terms of value-added products. Construction and engineering sectors were energised by Guyana’s significant wave of infrastructural development, where local manufacturers/service providers are not merely participants in this growth but are essential to it.
Local manufacturers are actively engaging in this growth, and the services sector continues to expand, creating new pathways for collaboration and investments.
He highlighted that the envisioned industrial hubs and specialised development zones represent something the GMSA has long championed; dedicated manufacturing clusters where businesses can share infrastructure, reduce costs, and drive efficiency through collaboration.
“We are encouraged by the direction the national policy is heading in this area, and we remain engaged to ensure that these zones for industrial hubs will take shape and genuinely serve the needs of our country, of our members at large,” Khan affirmed.
More than this, he noted that the GMSA exists to not only connect and support its members, but to shape the environment they operate in. Khan underscored a few areas the GMSA has advocated for over the years. These include the removal of value-added taxes (VAT) from manufactured furniture and jewellery to strengthen the competitiveness of domestic producers. This makes craftsmanship more accessible to consumers.
Additionally, export incentives have expanded to include value-added timber products, providing the forestry sector with new tools to compete in the international markets.
“Corporate taxes for agriculture and agri-processing businesses have been removed, unlocking new capacity for reinvestment and scaling, particularly important for our small and medium-sized enterprises.
He added, “The Junior Stock Exchange has been established and in motion in collaboration with our other BSOs. This has been a strong advocacy for the GMSA.”
While the oil and gas boom has generated capital and global attention, the deeper transformation of Guyana is one that will outlast any single commodity, the GMSA President said.
He stated further that it will be driven by how we integrate technology into our industries and institutions, which will be the real proof of business through this digital transformation.
Looking ahead, Khan said the government’s 2025 manifesto articulates a national vision for economic growth and industrial modernisation that aligns with the GMSA’s priorities.
