–as Ghanaian counterparts signal interest in country’s oil and gas, private sectors
WITH Guyana’s economy rapidly growing, opportunities for investments in commercial trade and the private sector are vast.
This was according to local businessman and director of Guyana Oil and Gas Support Services, Nicholas Deygoo-Boyer, who, during a recent virtual discussion told several petroleum and private sector stakeholders from Ghana that Guyana is the ideal jurisdiction to start and operate a business.

The former Georgetown Chamber of Commerce and Industry (GCCI) and Private Sector Commission (PSC) head said that with few constraints, the country allows for the smooth trading of foreign currency.
“We have no currency control or restrictions, so profits that you make in Guyana can be repatriated to your own company. For foreigners, you can trade in foreign currency if necessary, so as a foreign company looking to make foreign direct investments into Guyana there is very little restricting you from investing into Guyana, earning a profit in Guyana,” Deygoo-Boyer said.

He further said that Guyana has recently become a hub for commercial transportation with direct flights now being offered to several international states.
“In terms of being able to move people in and out of Guyana, we have flights to several major hubs, the US, flights to Miami, New York, to Toronto, Latin America, within the Caribbean, to Barbados and recently to Europe through the UK [United Kingdom],” Deygoo-Boyer related.

Meanwhile, the country’s main shipping port located in Georgetown provides traffic to several Caribbean and Latin America markets.
He said: “For major ports, currently, the main port is the port in Georgetown and there are quite a few sailings from moving goods out of places… the southern US is the main hub, as well as Panama where cargo is aggregated either from Asia or from other Latin American [states].”

He added: “Guyana is a very easy jurisdiction for you to enter into and to start business here.”
Meanwhile, President of the recently established Ghana, Guyana Chamber of Commerce, Gabby Asare Otchere-Darko, said that many key players from Ghana’s petroleum industry and private sector are hoping to collaborate with their counterparts in Guyana.

“What we want to do is see how Ghana can share with our counterparts in Guyana, particularly the private sector, facilitated of course by the petroleum commission, Ghana Gas, GNPC [Ghana National Petroleum Corporation] from our side and also, on your side, the Ministry of Natural Resources, the Local Content Secretariat and of course the Georgetown Chamber of Commerce and Industry [GCCI] and the associations involved in the sector,” Otchere-Darko said during the discussion.

Come next month, the two countries are expected to exchange insights at the Oil and Gas Conference to be held here in Guyana.
The aim is for the two countries to learn from each other in areas of oil-and-gas production and local content laws.
The virtual discussion and conference are in line with the bilateral agreements that were inked between the two nations in December 2022.