–for the next years
THE Guyana Manufacturing and Services Association (GMSA) has welcomed President Dr Irfaan Ali’s announcement of the Government of Guyana’s ambitious five-year agenda focused on economic diversification, industrial expansion, and broad-based prosperity.
The GMSA, in a press statement, expressed its enthusiasm about the suite of measures directly supporting manufacturing, agro-processing, and non-oil industrial development, including new tax regimes, expanded access to finance, and capital market reforms.
The association further acknowledged that several of these initiatives closely reflect long-standing policy recommendations and advocacy advanced by the GMSA on behalf of its members.
As the country continues to build out its infrastructure to support a new industrial era, there is a parallel effort to strengthen Guyana’s governance and administrative framework, supported by modern digital infrastructure and more robust legal and regulatory systems.
“The rollout of government digital platforms, and expanded digital service delivery is expected to make public services more efficient, accessible, and people-friendly. This approach will further improve the ease of doing business and enhance Guyana’s attractiveness to international partners seeking to engage with local enterprises,” GMSA said.
Key initiatives of significance to the manufacturing and industrial sector include: The creation of Special Development Zones operating under tax-free incentive regimes, which will support both export-oriented and import-substitution manufacturing activities.
The establishment of a Junior Stock Exchange will provide new pathways for small and medium-sized enterprises (SMEs) to access equity financing, scale operations, strengthen corporate governance, and usher a new era of business practices.
The proposed Guyana Development Bank, capitalised at US$200 million, will offer zero-interest, zero-collateral financing and represents a critical step toward improving access to affordable capital for SMEs in the manufacturing subsectors and agro-processing.
The GMSA said it views these measures as a strong signal of the Government’s commitment to building a competitive, diversified, and resilient manufacturing base, while deepening private sector participation in national development.
This roadmap provides businesses with the assurance and clarity needed to confidently plan for the next five years and beyond.
The association encouraged its members and the wider business community to actively use this policy framework as a strategic guide and to begin preparing by formalising their operations, strengthening financial records, developing bankable business opportunities to leverage the forthcoming Special Development Zones and positioning for capital market participation and export growth.
The GMSA said it stands ready to work closely with government, financial institutions, and development partners to ensure these initiatives translate into tangible outcomes for manufacturers, agro-processors, and service providers across Guyana.
