-Finance Minister says economic transformation creating openings for businesses of every size
GUYANA’S rapid economic transformation is creating opportunities across virtually every sector of the economy, with businesses ranging from small enterprises to major international investors positioned to benefit from the country’s unprecedented growth.
This is according to Senior Minister within the Office of the President with responsibility for Finance Dr. Ashni Singh, who was at the time addressing a recent trade and investment mission here.
Dr. Singh said the country is experiencing an extraordinary period of expansion fuelled by growth in the oil-and-gas sector, large-scale infrastructure projects, and increasing private sector investment.
The minister noted that while oil production continues to drive economic growth, opportunities are emerging across a wide range of industries, including agriculture, agro-processing, manufacturing, tourism, construction, education, and training.
“It almost doesn’t matter which sector you’re doing business in; the opportunities are many,” he said.
He pointed to ongoing investments in transportation networks, energy infrastructure, housing, healthcare, and industrial development as creating demand for goods and services throughout the economy.
According to Dr. Singh, opportunities exist along the entire investment spectrum, from large-scale projects requiring hundreds of millions of US dollars in financing to small and medium-sized enterprises seeking to serve expanding local markets.
“Opportunities are growing along the entire spectrum,” he said. “They exist at the mega end, the large-scale investment opportunities, all the way down to the smallest of enterprises.”
The finance minister stressed that Guyana’s growing population, rising disposable incomes, and increasing levels of foreign direct investment are helping to create a vibrant business environment.
“There is a lot of business to be done,” he said, noting that economic activity is being driven by both public and private sector investments.
He highlighted tourism as one area with significant growth potential, pointing to ongoing investments in internationally branded hotels and efforts to address longstanding constraints that previously limited the sector’s expansion.
He also identified education and skills training as emerging opportunities, particularly as demand grows for internationally recognised certifications and specialised training linked to the oil and gas industry and other sectors.
“There are opportunities even in the training and certification space,” the minister said, noting that strategic partnerships have already enabled local businesses to establish training facilities that previously did not exist in Guyana.
Against this backdrop, he stated that the government’s policy objective remains the development of a globally competitive economy that extends beyond oil and gas, ensuring sustainable growth across multiple sectors.
