GUYANA is targeting transformation into a global gold and jewellery hub by 2030, with a comprehensive strategy aimed at modernising the industry, increasing production and exports, and positioning the country’s gold and jewellery products more prominently on international markets.
Technical Consultant at the Ministry of Natural Resources Dominic Gaskin said the vision, which originated with President Dr. Irfaan Ali, is being pursued through a 15-initiative strategy designed to address long-standing gaps and deficiencies within the sector.
He was at the time speaking on the ‘Starting Point’ podcast, where he said the strategy represents a structural transformation of Guyana’s gold and jewellery industry, moving it towards a more technology-driven and modern model while significantly expanding the scope and scale of activities.
The overarching goal of the strategy, he said, is for Guyana to become “a gold and jewellery hub” by 2030.
As part of the initiative, the government has introduced the El Dorado Reimagined national brand, which is intended to provide a common platform through which Guyanese jewellers can promote their businesses and products locally and internationally.
The brand is owned and administered by the Guyana Gold Board through a programme management unit established to implement the sector’s development strategy.
Gaskin clarified that El Dorado Reimagined will not be a physical seal or marking placed on jewellery. Instead, qualifying jewellers will receive licences allowing them to promote their businesses and products under the national brand.
He said government-backed international promotion of the brand would allow licensed businesses to benefit from marketing initiatives, including potential trade shows, digital campaigns, and efforts to attract international buyers to Guyana.
The strategy also places significant emphasis on standards and consumer confidence. Licensed jewellers will be required to comply with applicable standards for gold, silver, platinum, palladium, and diamonds, while also meeting requirements covering business practices and customer transactions.
Among the requirements are detailed receipts identifying the products sold, including relevant specifications, acceptance of non-cash payments and proper business signage.
Importantly, Gaskin said the brand would also promote the use of legally and ethically sourced gold, which in Guyana would generally mean gold purchased through the Guyana Gold Board.
He went on to note that the transformation is expected to result in increased investment, training, production, sales, imports, and exports over the next two to three years.
Gaskin indicated that the objective is ultimately to create greater international recognition for Guyana’s gold and jewellery industry, with the country becoming associated with gold in the same way it has increasingly become associated with oil and gas.
