PRESIDENT Irfaan Ali’s recent engagement with the private sector represents a clear call for national change through teamwork in the economy.
His focus on public-private partnerships during his second term shows that he understands sustainable development requires both Guyana’s entrepreneurial spirit and government support.
The President wants sustainable economic growth that goes beyond the traditional model of government-led development seen in much of Guyana since independence. By challenging businesses to seize opportunities in agriculture, aquaculture, exports, housing, health services, and tourism, President Ali is promoting shared prosperity and shifting the focus from dependency to empowerment.
The Head of State recognised that the government alone cannot create the jobs and wealth needed to lift all Guyanese out of poverty.
What makes his message powerful is his belief that business opportunities should reach beyond corporate boardrooms to include employees and other stakeholders.
This model of stakeholder capitalism reflects a clear understanding of inclusive growth. It shows that true prosperity needs broad wealth distribution instead of concentration. When businesses invest in their workers through skills development, fair wages, and career growth, they strengthen entire communities.
The timing of this engagement highlights the urgency of Guyana’s development. With oil revenues offering unprecedented financial resources, the country has a crucial chance to diversify its economy and build lasting institutional capacity.
The President’s call for leadership from the private sector in key areas lines up with global evidence showing that private investment has increased significantly under his administration.
Agriculture grew by 97 per cent, manufacturing by 47 per cent, and construction by 93 per cent. These numbers prove that the policy environment is already producing real results.
However, the President’s vision goes beyond just economic numbers. He emphasised fair wealth distribution that benefits all levels of society.
This belief shows that sustainable development must include everyone. It positions the private sector as partners in building the nation instead of just taking resources. This shift could determine if Guyana’s oil wealth is a blessing or a curse.
The business community’s response to this challenge will likely shape Guyana’s future for the next generation. By stepping up as champions for fair development, private sector leaders can help make sure that Guyana’s impressive economic growth improves living standards for all citizens.
President Ali has laid out the framework; now, the challenge is in putting it into action and whether all stakeholders will prioritise national prosperity over individual interests.