Guyana Chronicle Business Epaper

Billions in private investment drive Guyana’s economic transformation

––

former PSC Chairman credits bold policy reforms, flourishing business environment for unprecedented growth

By Shaniya Harding

WHILE newer sectors

such as oil and gas have played a major role in fast - tracking Guyana ’ s economic growth, the private sector has firmly established itself as a vital engine driving the country’s transformation.

This is according to former Chairman of the Private Sector Commission ( PSC ) and current Chairman of the Agriculture Sub - Committee , Komal Singh

In a recent interview with this publication, Singh highlighted the ever - important role of the private sector in national advancement

Emphasising its growing impact , he said Guyana ’ s private sector has contributed billions of dollars to the country’s economy over the last five years.

This , he pointed out , did not happen by chance, as according to him , robust government policies and easier market entry have had a significant impact on Guyana’s economy and overall progress He believes these favourable conditions will propel the country into a stronger , more secure economic position

He stated that the private sector has invested between $2 to $3 billion in Guyana’s economy within the last five years, noting that the sector drives in -

vestments largely from a taxation, technological and innovation standpoint

“ The private sector is proven to be the real engine of growth that creates jobs, that contribute significantly from a taxation standpoint

When you are looking for innovation and technology, the private sector has been leading on that front,” he said , adding that the sector has also seen major investment from manufacturing players The last five years have been particularly important for the private sector, according to Singh, who described it as a period of unprecedented expansion that highlighted the relevance of the sector to national progress

Looking back, he said that the billons invested by private sector players have been used for the construction of major infrastructure and manufacturing ventures

“When you really look back over the last five years , the private sector has invested in excess of $2 to 3 billion That is investment coming in to build out ports , manufacturing sectors , throughout every single sector .” This , he noted, has had a ripple effect on the country’s other industries

“ That is why you see all the other sectors having continuous growth rates over the last five years This is because of the commitment that the private

Komal Singh , former Chairman of the Private Sector Commission and current Chairman of the Agriculture Sub - Committee

sector has as it relates to the growth and development in this country ,” he emphasised

CREATING OPPORTUNITES

This progress was shaped by government policy. Singh shared that recent policies implemented within the last five years have opened doors for and have removed hurdles for members of the private sector Measures such as the local content legislation have bolstered growth, strength-

ened systems and improved investor confidence. “Government over the last five years have implemented fiscal measures to create an enabling environment so the private sector can be comfortable to invest Our investor confidence level right now is at its highest,” he said

Citing the impact of the local content legislation , Singh added , “ The local content legislation creates an opportunity for Guyanese companies to get into the oil and gas sector . It helps Guyanese companies to find partners and bring those partners into Guyana It helps them build the skill set necessary and bring them up to speed to meet the demands of those requirements.”

The government has also invested directly into the sector through national projects Investment in road infrastructure, energy expansion and the soon-tocome-on-stream gas-to-energy project have injected opportunities into the private sector

Singh explained that each new initiative offers fresh prospects for businesses , whether through direct investment or by ripple effects such as reduced manufacturing costs. “Government introduced and spent significant amounts of money on road development and energy The gas-to-energy project is a classic example When the

gas-to-energy project gets on stream fully, we are expecting to see a significant reduction in energy costs

That will see a significant boost in the manufacturing sector , making us more competitive internationally,” he said

Easier access to finance is another area Singh said the government has strengthened Prior to 2020, businesses had to endure lengthy waiting periods –sometimes more than two years - for permits, which significantly hampered the establishment and expansion of enterprises

Today , through more streamlined systems and the introduction of the single-window system, these challenges have been eliminated. “Access to financing used to be a big challenge Government working with local banks and foreign banks allows us now to access finance more easily Prior to 2020, we were taking over two years to get a permit This stymied major and critical infrastructure development Streamlining the business process in terms of permits was extremely good,” he added . “ The single window system guarantees you a timeline and creates a onestop shop.”

These changes have also paved the way for easier entry into the private sector With the sector expanding more than ever, more Guyanese have sought to become entrepreneurs, and this has never been easier, according to Singh He noted that this is largely due to the government’s commitment to improving access and supporting enterprise

FOLLOWING GOVERNMENT’S STATEGIC PLAN

On the ease of establishing a business now versus five years ago , Singh stated, “It has been very transformational . It’s mind-boggling when you look at what happened over the last five years The ease of doing business in Guyana has greatly improved Government has a strategic plan for five and ten years ahead There is a 2030 vision that the President has outlined.”

This plan , he added , helps the private sector align investments with government priorities . “ That gives us more vision in terms of aligning our investments with government ’ s plan You do not want to invest in something outside of government plan It gives us that high level of confidence that we can invest and understand government investment will be

coming right next to us.”

These measures have strengthened Guyana’s private sector locally and are positioning it for regional success

Singh noted that with investment growing rapidly, the country could soon become a regional leader in private enterprise. “Our position regionally is being sorted out right now Very soon, we will become the regional leader in the private sector Trinidad has been ahead because of their strong manufacturing industry, but with the push and investment we are seeing, Guyana will soon become that major breadbasket of the region.”

Currently, the commission, along with other key stakeholders, is examining barriers to trade, including non-tariff hurdles. “Many of the non - tariff barriers affecting free movement of goods are on the table for discussion If we don’t have a robust logistics hub within the region to move produce timely and economically, we will not truly grow our local economy Government is working to strengthen regional logistics so we can move products more easily throughout the region,” he said.

While policy changes, implemented measures , streamlined systems and the removal of barriers are strengthening the private sector Guyanese businesses and entrepreneurs are the ones driving the economy forward

To this end , Singh is urging citizens to take advantage of the evolving landscape . “ With all the development and transformation taking place in Guyana, Guyanese have an opportunity of a lifetime, and we should not miss the boat The opportunities being created are for every single Guyanese You need to take the initiative and be willing to move yourself forward.”

Moreover , he noted that employment opportunities are more available than ever. “There are jobs around this country for almost every single Guyanese There are enough opportunity and enough jobs for every single Guyanese.”

Through collaboration , policy reform and sustained investment, Guyana’s private sector is expected to continue its upward trajectory Singh remains highly optimistic about the current path With Guyanese at the backbone of the sector and the Government of Guyana creating new avenues and equitable opportunities, the country’s economic momentum is poised to continue at a rapid pace.

‘Tomorrow’s future will and must be built today’

–– President Ali says, highlights Guyana’s

SETTING ambitious goals to leverage oil and gas resources for long - term sustainability , Guyana is looking to strengthen strategic partnerships and collaborations, President, Dr Irfaan Ali has said.

Speaking at the opening of the 2026 Energy Conference and Supply Chain Expo on February 17, the Head of State emphasised that Guyana is leveraging its momentum and embracing boldness in the dynamic global energy landscape

“Tomorrow’s future will, and must be built today, and this is the journey, this is the time, this is the moment, the moment when we dare, when we imagine , when we become bold; because without being bold , without taking risks, and without partnership, we will live in isolation,” he told stakeholders

The conference was officially declared open by President Ali at the Kingston Marriott Hotel and runs until February 20, bringing together regional and international industry leaders for the premier event centred on innovation , collaboration , and sustainable development.

Held under the theme , “Building Tomorrow’s Future Today,” the conference attracted participation from companies representing 32 countries, reaffirming Guyana’s expanding role in the global energy landscape

“That is what this energy conference is about , that partnership We are not just building in Guyana; we are building for a sustainable future,” the President said

The country is looking to put key infrastructure in place to withstand the next wave of innovation

“We are not sleepwalking into this future We are moving in a bold way into this future , understanding that this future requires technology to work, that this future requires technology to work constantly and consistently And how do we achieve this? Here in Guyana, we want to outline this journey,” he said

CHALLENGES

Referencing data from a real-time survey conducted among delegates and participants at this year’s conference, he said 65 per cent of respondents believe the world is not going in the right direction , while 90.22 per cent believe Guyana is heading in the right direction.

ambition to leverage oil, gas resources for long-term sustainability

According to the survey, many respondents pointed to the rise in the cost of living, conflict, and climate change as leading concerns affecting the world ; meanwhile , in Guyana, labour shortage, technology deficit, and climate change were identified as serious concerns

“ There are some challenges that we have to deal with in the future; challenges, all of which require energy Technology requires energy, food requires energy, economic transformation requires energy. So, we have to be able to make these changes, understand these changes, and build our systems to withstand the challenges that come with these crises that the world is facing,” the President said

To respond to these deficits and challenges, Dr Ali noted that Guyana must first rapidly expand its oil and gas sectors

“How do we leverage this sector? How do we ensure that today ’ s prosperity is building tomorrow ’ s sustainability? It is not achieved by spending; it is achieved by spending plus strategic alliances, integration, partnership, and understanding what are the sectors that will lead to long-term sustainability and how we are investing in the infrastructure to create those long-term opportunities and what are the long-term opportunities?

LONG-TERM SUSTAINABILITY/

COLLABORATION

He pointed to the country ’ s efforts , citing the soon - to - be - completed gas to energy ( GTE ) project , with the country already eyeing the prospects of

Guyana to be, because of our strategic geographic location, a transport and logistics hub for the region,” he said Such partnerships and investments create an ecosystem that generates high-paying jobs, that lead to industrialisation and manufacturing, and that accelerates the pro-

ductive sector

He reiterated that Guyana is blessed with resources that allow the country to build an economy and to accelerate its productive capacity

“ We are strategic in this outlook because we want as many partners as possible to have a stake in our development, because if we have many partners having a stake in our development , then they all have a responsibility to ensure that their stake is successful and it enhances our success rate and create the environment for us to be successful,” he said.

building a second power plant

Simultaneously , the country has launched an expression of interest in the Amaila Falls Hydro Project , signalling its push to have clean, renewable energy sources while exploring for fossil fuels

“ And we are working with our partners to leverage our gas and our petroleum to become an energy exporter in the region, exporter in terms of infrastructure and logistics…, our national security must lead to regional energy security and allow us to be more structurally integrated in the rest of the region ,” he said

He added: “That is why our long-term sustainability requires integration of our economy with the rest of the region’s economy It is about us building the infrastructure, creating the infrastructure , investing in the infrastructure, investing in what will optimise these long - term opportunities.”

At this year’s conference, key energy partners from the United Arab Emirates, Saudi Arabia, and the United States have signalled their readiness to strengthen existing partnerships and build new collaborations on mutual interests

“ That is why we have Saudi Arabia here with us, and we are working with the Kingdom of Saudi Arabia , the UAE , Qatar , the U . S ., and Bechtel , and we are working on what? The most transformative infrastructure for tomorrow’s future -- the deepwater port Linking the deepwater port with Brazil, linking the deepwater port with the rest of the region, ensuring that we position

RBL, Demerara Bank up mortgages in response to govt’s transformative housing agenda

REPUBLIC Bank ( Guyana ) Limited and Demerara Bank Limited, earlier this month, announced major changes to their mortgage packages, which will see Guyanese getting hassle-free access to larger sums for house construction at competitive interest rates.

Demerara Bank Limited, in making its surprise announcement, said it was expanding its Residential Housing Loan framework, increasing the lending ceiling from $30,000,000 to $40,000,000 while maintaining a competitive interest rate of five per cent per annum, effective February 9, 2026

“Under the revised structure, residential housing loans of up to $40,000,000 will attract an interest rate of five per cent per annum, making Demerara Bank the only commercial bank in Guyana currently offering this level of residential financing at this rate The bank believes that access to affordable financing should not become more restrictive simply because housing costs have evolved,” the bank announced It indicated the following Revised Tiered Interest Rate Structure (Reducing Balance):

Up to $4,000,000 – 3.5 per cent p a

$4,000,001 to $9,000,000 – 3.7 per cent p a

$9,000,001 to $15,000,000 – 4.5 per cent p a

$15,000,001 to $40,000,000 – 5 per cent p a

The bank emphasised that in recent years, the cost of residential construction has increased steadily, driven by rising material prices , labour costs , and contractor fees. These realities have made it increasingly difficult for many prospective homeowners to complete or comfortably finance their homes within traditional lending limits Demerara Bank said its revised loan ceiling is designed to better align financing options with today’s construction environment and the practical needs of borrowers

“The adjustment reflects the bank’s continued commitment to empowering Guyanese citizens and supporting one of life’s most meaningful milestones of owning a home The bank promotes that Homeownership remains a significant achievement for individuals and families, symbolising stability, independence, and long-term security The enhanced lending framework ensures that customers are able to borrow slightly more where necessary without being penalised by higher interest rates This approach supports households seeking to build, complete, or purchase homes that meet modern standards of comfortable living,” the bank said, adding

that it has long maintained that economic growth must translate into meaningful opportunities for citizens By adjusting its residential housing loan limits, the bank continues to play an active role in supporting national development, strengthening communities and helping families achieve their aspirations

“ Demerara Bank Limited remains deeply committed to supporting every Guyanese at every stage of life True to its name and purpose, the bank continues to stand with its customers as they build their futures,” the bank said in making the announcement

Days later, Republic Bank unveiled an even higher mortgage ceiling, saying it was “proud to announce a timely and strategic change to its residential mortgage offerings, further reinforcing its commitment to making homeownership more affordable and accessible for all Guyanese families.”

According to the bank, this move was a direct response to the Government of Guyana’s transformative housing agenda under the 2026 Budget Republic Bank is now the only bank offering mortgages up to G$60 million at a highly competitive rate of 5 per cent with no lending ceiling for residential mortgages

“No ceiling means that there is no limit to the amount customers can borrow for residential mortgages at Republic Bank,” the bank said in a press release

In addition, to the G$60 million at 5 per cent offer, the bank said its current Low-Cost Mortgage package also features competitive interest rates to help more persons achieve their homeownership dreams:

3.50 per cent for amounts up to GYD$9 million

4.25per cent for amounts over GYD$9 million and up to GYD$20 million

5 per cent for amounts over GYD$20 million and up to GYD$30 million

“These unmatched offerings underscore the Bank’s leadership in the mortgage market and its proactive approach to meeting the evolving needs of customers across all segments,” the bank said before unveiling additional benefits which include extended repayment terms tailored to customer’s needs, monthly amortized payments and up to 100 per cent financing

“ As Guyana ’ s housing landscape continues to expand , Republic Bank stands ready to deliver strategic, affordable and customer - centred solutions that help more Guyanese achieve their homeownership dreams,” the bank said while encouraging customers to visit their nearest Republic Bank branch or for more information.

IPED takes bold risks for Guyana’s entrepreneurs to thrive

–– provides training, refinancing, remedial services to support small business growth

By Faith Greene

THE Institute of Private Enterprise Development ( IPED ), established in 1985, has been strategically focused on improving livelihoods by fostering sustainable micro and small enterprises through carefully crafted finance and advisory services. Its goals include the development of a culture of entrepreneurship, providing timely financing, providing technical and managerial support services , and promoting sustainable environmental practices and technologies

Speaking with this publication, IPED’s Business Development and Marketing Manager , Robert Williams, underscored the institution’s importance and significant contribution to Guyana’s economic development

According to Williams, IPED bridges the gap between providing opportunities at the lowest level for Guyanese to be a part of the inclusive process of Guyana’s development and growth

The institution also provides training for businesses that need help, especially with refinancing and remedial services to help those that are struggling

IPED provides businesses with an ecosystem support that allows for the identification of challenges within small businesses and later working with them and other supporting agencies to build capacity

“So, our role of providing these business opportunities to people who can’t read, to people who can’t write , to people who just have good sound business ideas is even more important now in our oil and gas economy And we see our role even in supporting what the government is doing as being even more important right now because access and accessibility have always been claimed to be a problem,” he emphasised

To support businesses, IPED has created opportunities that are more flexible, and welcoming to entrepre-

IPED , he explained , takes chances where the formalised banking sector cannot assume such risks It serves as a hub for nurturing ideas and creating pathways for business-minded Guyanese to transition into the formal banking system

IPED’s Business Development and Marketing Manager , Robert Williams

neurs as Guyana’s economy grows

Noting that IPED is open for partnerships, particularly as it relates to understanding the needs of persons in rural areas , Williams said the institute has always been conscious about corporate responsibility and takes the issue of having an economic space that balances the resources in a way that allows them to meet economic goals very seriously

According to him , the recent changes in Guyana’s economic landscape has motivated IPED to create

even more access and opportunities for Guyanese

Recently, IPED signed a $1 billion loan agreement with the Inter-Development Bank (IDB).

Additionally, the institute has launched its Invoice Financing Product , which caters to those in the oil and gas sector and other areas where funding is required based on submitted invoices

Williams explained that the product is available to contractors or services providers who are required to wait an extended period of time to receive payments or cash

“This would affect their cash flow So that particular product is geared to meeting that gap in the cash flow or until that client or clients get their pay And it’s not just to the oil and gas, but if you have contractors out there who may have worked for the government , who may have provided services elsewhere, and we can validate that those particular services will be paid for later on, we can advance as much as 80 to 90 per cent of that invoice amount ,” he said

Williams further stated that IPED has been creating

greater access across each of its branches, which are located in Mabaruma, Port Kaituma , Mahdia , Lusignan, and Rosignol, among other parts of the country

YOUTHS

Turning his attention to the youth, he informed this publication of the launch of IPED ’ s skillbased entrepreneurship project which caters to persons in this category.

Moreover, IPED offers a ‘Youth Loan’ to youths with startup ideas

He related that the loan is for young people who are at least 18 years old and have a business idea IPED then works with these youths, helping to streamline, strengthen and make this business plan market ready

IPED also signed a memorandum of understanding with the New Amsterdam Technical Institute (NATI), that allows them to work with youths who are graduating with technical skills in carpentry and other skills

The entity’s aim is to get onboard with the Guyana School of Agriculture and other technical schools to inform students who are

graduating that they do not need to rush to work, that they can build out a business plan and start their own businesses with the technical knowledge and skills they would have learnt

Added to all of this , IPED will be celebrating its 40th Anniversary in March under the theme “40 years of Strengthening Enterprises , Transforming Lives , and Supporting National Development.”

This will be celebrated with a Micro Exposition which is slated for March 19 and 20 , 2026 from 10:00hrs on Main Street , Georgetown The expo will give IPED the platform to showcase and exhibit their products and services, while highlighting the impact of microfinance on small business development

Meanwhile , on March 26 and 27, 2026, IPED will be hosting its Micro Conference from 08:00hrs at the Pegasus Corporate Suites in Kingston

These events are expected to promote entrepreneurship, financial inclusion, and the growth of micro and small enterprises in Guyana.

Guyana’s economic transformation accelerates under Vision 2030, Budget 2026

–– Ramsaroop says

GUYANA continues to demonstrate measurable economic transformation marked by record levels of non-oil investment, rapid private sector expansion, and sustained national development under the visionary leadership of His Excellency, President, Dr Mohamed Irfaan Ali and the Government’s Vision 2030 national - development framework.

Speaking at the recently held Guyana Energy Conference and Supply Chain Expo , Peter Ramsaroop , Chief Investment Officer and Agency Head of the Guyana Office for Investment, highlighted the pace, scale, and impact of Guyana’s economic expansion, further reinforced by the strategic measures outlined in Budget 2026

“ If you were here in 2021 and you’re back today and you don ’ t have work in Guyana, you missed the boat completely ,” Ramsaroop was quoted in a press release as saying He underscored the breadth of opportunities

created through decisive leadership and sustained policy implementation

He emphasised that Guyana ’ s advancement is not theoretical, but tangible and measurable

“Guyana is no longer a future story It is a performance story, defined by execution, investor confidence, and broad - based growth across multiple sectors.”

RECORD NON-OIL INVESTMENT DRIVING DIVERSIFICATION

Since 2020 , Guyana has facilitated and positioned more than G$1 trillion in non-oil investments, accelerating diversification across agriculture, manufacturing, logistics, construction, ICT, services, and export-oriented industries, the release said

It added that Budget 2026 strengthens this trajectory through accelerated infrastructural development nationwide; expanded taxfree agriculture under the Food Dominance strategy ; enhanced incentives

Peter Ramsaroop, Chief Investment Officer and Agency Head of the Guyana Office for Investment

for manufacturing and agro - processing and expanded logistics , energy , and connectivity projects supporting national productivity

These investments are supported by prudent fiscal management and the strategic reinvestment of oil revenues into productive , long-term economic sectors, the release said

“We are not simply diversifying We are modernising existing industries while building entirely new ones Oil is accelerating

transformation, not defining it,” Ramsaroop noted

AGRICULTURE POSITIONED AS A MODERN INVESTMENT SECTOR

Under His Excellency, President Irfaan Ali’s national food - security and Food Dominance agenda, agriculture has been repositioned as a structured and globally competitive investment sector

Investors benefit from expanded tax exemptions , duty - free concessions on machinery and inputs, structured investment agreements and dedicated export facilitation and market - access support, the release added.

“Agriculture in Guyana is no longer subsistence based It is structured capital deployment supported by strong policy, infrastructure, and export access,” Ramsaroop stated

PRIVATE SECTOR EXPANSION ANCHORS

ONE GUYANA ECONOMY

A central pillar of Guyana’s transformation is the strength and expansion of its domestic private sector.

Guyanese-owned businesses across manufacturing, agro-processing, logistics, construction , aviation services, ICT, and professional services are expanding at unprecedented levels

Local entrepreneurs and members of the Guyanese diaspora continue to demonstrate strong confidence in the country’s economic direction , reinforcing the government’s One Guyana vision of inclusive and broad - based prosperity

“ One Guyana means one economy , driven by our people, strengthened by our private sector, and supported by leadership committed to ensuring prosperity reaches every region and community ,”

Ramsaroop said

VISION 2030 DELIVERING MEASURABLE RESULTS

Further, the release said that six years into Vision 2030, Guyana’s progress is evident across infrastructure, agriculture, manufacturing, services, and human capital development

“Performance does not happen by chance. It is the

result of vision, planning, discipline , and execution Vision 2030 is not a slogan, it is a national blueprint delivering measurable results,” Ramsaroop affirmed. He noted that Guyana remains open for investment, now positioned as a competitive, high-growth economy built on confidence, stability, and delivery

“The ship has left port The next phase of growth toward 2030 and beyond is already underway.”

In closing , Ramsaroop emphasised that Guyana’s transformation reflects decisive leadership, disciplined policy execution , and the resilience and ambition of its people. As the country advances toward Vision 2030, it is steadily building a diversified, modern, and inclusive economy, powered by private sector growth and strengthened by national unity

“ Opportunity does not wait Guyana has moved from promise to performance , powered by our private sector and united as One Guyana Those who act now will help shape the future that is already being built.”

US$100M to support new STEM initiative

EXXONMOBIL has announced its commitment of US $ 100 million to a new science, technology, engineering and mathematics (STEM) initiative in Guyana

Describing it as a “transformational” investment in the country’s human capital and long-term development, President Dr Ali said the funding will support a central pillar of the government’s strategy to equip the next generation of Guyanese with the skills needed for 2050 and beyond

“ We have to ensure that the next generation of Guyanese , and this generation , are equipped with the necessary skills, training , and knowledge to take Guyana forward , to advance Guyana , and to ensure that we have the human capacity and capability to do this,” the President told ExxonMobil ’ s board members and senior executives during an engagement at State House

To this end, he pointed to the recently commissioned Guyana Technical Training College in Berbice, which would serve not only Guyana, but the wider region , giving the country a world - class facility scarcely a decade into its oil and gas journey

“This is how you transform society This is how you leapfrog society This is infrastructure and investment we must make,” he added

He noted that the new STEM centre, to be constructed on the University of Guyana campus , is expected to have its first physical building completed by 2028, with work to begin well before that date

The location was deliberately chosen, he said, to elevate STEM education and place even younger children in a campus environment that nurtures

President Ali stressed that education and training were identified from the outset as critical to Guyana ’ s development pathway

Dr.

Ali and ExxonMobil’s, Chair and Chief Executive Officer (CEO), Mr Darren Woods

curiosity and ambition

While the physical infrastructure is being developed, President Ali said the government will move “ almost instantaneously ” to begin training teachers and facilitators through the Ministry of Education

A key focus of this programme will be to dramatically improve outcomes in secondary level mathematics and strengthen STEM foundations across the education system

“This is a really great

moment for the education sector, a great moment for our country and for the innovators of tomorrow,” he said

STRATEGIC PARTNER

The President emphasised that ExxonMobil is not viewed merely as an oil operator , but as a strategic partner in building a development model that is strategic and balanced in its oil and gas expansion, envi-

ronmentally conscious , with initiatives such as the Global Biodiversity Alliance

“We want to showcase to the world a development in oil and gas that is strategic in every form, one that is balanced, one that takes the environment with it in its growth and development,” he said

Reiterating his government ’ s commitment to a stable investment climate, President Ali told ExxonMobil ’ s leadership that Guyana is a jurisdiction where “ the rule of law applies” and where investments are “safe, sound and protected”.

He underscored that managing a sector of this magnitude requires strong leadership , focus and , above all , trust between the government and its partners

“Exxon is our partner, and we have to confront the opportunities of the future as partners, there is no way we are separating ourselves from each other

This is a stable environment,” he said

Meanwhile, Chair and Chief Executive Officer (CEO), Mr Darren Woods said since ExxonMobil ’ s first offshore oil discovery just over a decade ago, the company had been committed not only to responsibly developing oil and gas resources, but also to ensuring that offshore production “creates opportunities for progress onshore.”

He said the company shared President Irfaan Ali’s ambition to use these resources to transform the economy and bring “ enduring prosperity” to the Guyanese people Reflecting on ExxonMobil’s role in Guyana since the Stabroek Block discovery , Woods said that in just ten years the find had changed the country’s future He added that he was confident the next decade would deliver even more, powered by the people of Guyana and built on education.

Guyana, bilateral partners security, investment, other key

ON the sidelines of the 50th Regular Meeting of the Conference of Caricom Heads of Government in St Kitts and Nevis, President, Dr Irfaan Ali and Prime Minister Andrew Holness of Jamaica met to discuss continued co-operation in energy, agriculture, investment, technology transfer, regional security and infrastructural development . President Ali during the engagement reiterated Guyana’s continued support for the people of Jamaica following Hurricane Melissa and committed to strengthening the historical partnership between the two countries

PRESIDENT , Dr Irfaan Ali described the recent bilateral meeting with the United States Secretary of State, Marco Rubio, as very positive. The discussions during the meeting were deliberate and focused and they led to a better understanding of the US and CARICOM positions on important issues Among the key items discussed were regional security, regional development, and the situations in Venezuela and Cuba

GUYANA and Suriname earlier this month committed to continuing the strong partnership between both countries on energy and food security and co- operation towards regional connectivity The nations’ leaders President, Dr Mohamed Irfaan Ali and President of Suriname Dr Jennifer Geerlings-Simons met on the sidelines of the 50th Regular Meeting of the Conference of Caricom Heads of Government in St Kitts and Nevis where they discussed several areas of mutual interest

EARLIER this month, President, Dr Irfaan Ali and a team of government officials held a tripartite meeting with two Governors from Brazil at State House The visiting officials included the Governor of the State of Roraima, HE Antonio Denarium, accompanied by 11 delegates, and the Governor of the State of Mato Grosso, HE Mauro Mendes Ferreira, accompanied by five delegates Discussions focused on food security, energy security, infrastructure, and security, as well as ways in which the two states could enhance their collaboration with Guyana

ON February 21, President, Dr Irfaan Ali met with the Prime Minister of St Kitts and Nevis and current Chair of CARICOM, Dr Terrance Drew, at State House where they discussed a number of issues relating to CARICOM and the advancement of Guyana–St Kitts and Nevis relations (Office of the President photos)

partners discuss energy, key areas of interest

HIS Excellency the President, Dr Irfaan Ali met with a visiting Indian military team on February 11 at State House Discussions focused on strengthening bilateral relations between the two countries and collaboration with the Guyana Defence Force in training and other areas. The Indian military team was led by Colonel Sachin Khajuria and included Colonel Pradeep Singh Saini, Lieutenant Colonel Sandeep Kumar, Captain Achin Pillai, and Captain Vikas Anand Chief of Defence Staff, Brigadier Omar Khan was also part of the meeting

During the month of February, President, Dr Irfaan Ali met with the President of Panama, His Excellency José Raúl Mulino Quintero. During the meeting, Guyana highlighted opportunities for partnership in oil and gas, logistics, agriculture, climate action, and security Panama also accepted Guyana’s invitation to join the Global Biodiversity Alliance as a founding member Guyana and Panama also agreed to strengthen private-sector collaboration, enhance connectivity and energy integration, and pursue continued engagement to advance shared prosperity and regional co-operation Panama also signalled its plan to open an embassy in Georgetown and reaffirmed its diplomatic and multilateral support

Govt investing billions in young people’s future

By Shaniya Harding

THE Government of Guyana continues to demonstrate its commitment to development through sustained efforts aimed at educating , empowering and advancing the nation’s young people.

This was reinforced by President, Dr Irfaan Ali in the latest episode of “Tea on the Terrace,” which was aired earlier this month

In the video, which was posted on the President ’ s official Facebook page, the Head of State engaged Minister of Labour and Manpower Planning , Keoma Griffith and Minister of Tourism, Industry and Commerce, Susan Rodrigues, on their ministries’ respective roles in advancing national development

He also took time to interact with students of the

newly established Guyana Technical Training Institute ( GTTI ), emphasising the significant level of investment in young people across multiple sectors

Speaking from Berbice, which is rapidly emerging as a hub for oil - and - gas development, President Ali highlighted the scale of investment being made in the country’s next generation He pointed specifically to the GTTI , the first of its kind in Guyana , which is expected to train thousands of Guyanese for expanding technical fields

“We are here in Berbice, Port Mourant This is the capital of oil-and-gas technical training in Guyana , where the government has invested tens of billions of dollars into a world-class, state - of - the - art facility to train this and future generations of top-end oil-and-gas

workers,” he said. “We have commissioned this facility, an extraordinary facility , as I said, tens of billions of dollars of investment.”

Sustainable growth remains a key pillar of development and, as the President explained, efforts are underway across sectors to equip young Guyanese with the skills required for emerging industries Sharing insight from his ministry, Minister Griffith said investments such as the training institute , along with others in the pipeline, are shaping the country’s future workforce

“ This is such a major win for Guyana We’re not only transforming this country, but we’re also making investments that we will reap and see 10, 20, 30, 40, 100 years from now where Guyana will be firmly positioned as a technical training institute in this entire Carib-

bean,” Minister Griffith said He added that the drive is also aimed at addressing Guyana’s labour shortage.

“ We have a major labour shortage here in Guyana, but we are putting in investment to have that manpower and planning element so that we can catch up.”

Similarly, Minister Rodrigues shared updates on the progress of the Tourism and Hospitality Institute , which is projected for completion by mid - year The facility is expected to serve as a source of skilled Guyanese for one of the country’s fastest-growing sectors

“ Here in Berbice , we also have the Tourism and Hospitality Institute world - class international standard hospitality institute,” she said

Speaking directly to students at the technical institute, Minister Rodrigues

added, “I hope all of these young people here today understand that this would not have been possible if you didn’t have a President who had a vision to create a Guyana that you are now living in, opening up new opportunities here at this technical training college.”

Throughout his walkthrough of the facility and engagements with trainees and trainers, President Ali underscored the tangible scale of resources being deployed Trainees are utilising specialised machinery valued at approximately US$30,000 per unit, while advanced instrumentation equipment in the laboratories carries a price tag of close to US$180,000 each These investments demonstrate the seriousness with which the government is approaching skills development, he emphasised

Additionally, the comprehensive 18 - month programme being delivered would ordinarily cost about US $ 150,000 per participant, an expense now being absorbed by government to ensure young Guyanese are internationally certified and industry-ready

According to the President , each piece of equipment and every programme introduced forms part of a deliberate strategy, not only to modernise training infrastructure, but to position the nation ’ s youth at the forefront of Guyana ’ s expanding oil , gas and diversified economic landscape

During the episode , some of the trainees got the opportunity to relay their expectations and what this step in their educational journey means to them.

Guyana’s climate model gaining global backing

climate, biodiversity experts praise country’s transparent governance, credible framework

WITH there being more global demand for stronger environmental safeguards, Guyana stands out given its ability to leverage its Low Carbon Development Strategy (LCDS) to build market trust, standardise environmental metrics and unlock new streams of private capital at scale, according to climate and biodiversity experts.

During a panel discussion

on day three of the Guyana Energy Conference and Supply Chain Expo, several experts within the climate and biodiversity arena focused on Guyana ’ s development model and how the country is blending economic growth and environmental stewardship

Senior Director of Climate And REDD +, Ministry of Natural Resources, Dr Pradeepa Bholanath,

explained to the panellists and the wider audience that Guyana ’ s climate finance architecture has become an attractive investment hub as it aligns economic growth with environmental responsibility.

The LCDS, in this regard, fulfils the “ do no harm to nature,” characteristic which investors seek, she said Additionally, Bholanath highlighted that President Dr Irfaan Ali stands out in his

leadership as he exemplifies what it means to implement policies that embrace climate security, energy security, and food security

With the LCDS in place, development is not only reaching the coast but hinterland communities, as Bholanath pointed to the expansion of hydropower and solar power in indigenous communities

Under the first LCDS ,

the global climate services provided by Guyana’s standing forests were mobilised to generate revenue for the country , in this instance , under a US$250 million bilateral partnership with the Kingdom of Norway

On December 1 , 2022 , the Architecture for REDD+ Transactions announced the issuance of US$33.47 million TREES credit to Guyana for the five - year period from 2016 to 2020. The Architecture for REDD+ Transactions (ART) is a global initiative that seeks to incentivise the reducing of emissions from deforestation and forest degradation (REDD), as well as restore forests and protect intact forests Subsequently, the government entered into an agreement whereby Hess Corporation purchased approximately a third of Guyana’s credits The agreement sets out that Hess will buy 2.5 million credits per year for 2016 to 2030 to a total of 37.5 million credits for a minimum payment of US$750 million to be paid to Guyana between 2022 and 2032.

Associate Partner of Mckinsey Social, Healthcare and Public Entities Practice, Dr Stephanie Stefanski explained during the discussion that it is very clear that the primary constraint to successful energy transition is not the ambition, capital or aggregate , but how the opportunity can be captured on a broader scale to foster sustainable , equitable and inclusive economic development

Recognising Guyana ’ s push to position itself as a global environmental leader, McKinsey stated that an integrated “ lock and step ” approach linking the synergies where climate finance can help unlock biodiversity finance and aid in bringing benefits to citizens, is needed

There is no single instrument that can unlock scale, she said, but in order to build these mechanisms, stability coupled with strong , clear and transparent governance and credible measurement systems are needed

She said: “Guyana is already taking the first steps today towards one of its kind , national biodiversity information monitoring sys-

tem that will help unlock and create this transparency around its natural capital , which I believe will be really key to unlocking the climate and biodiversity finance together.”

Country Representative of Inter-American Development Bank (IDB) in Guyana, Lorena Solórzano Salazar added to McKinsey’s comments about building trust in the market

She noted that markets require blended finance warranties from institutions like hers, the IDB, or warranties from the countries that can enhance and expedite , attracting more investment from the private sectors, concessional capital, or public/ private partnerships

Second is harmonised standards to make climate and nature finance more transparent and, in this light, she referenced the IDB ’ s recent launch of a common nature finance taxonomy

Such frameworks , the IDB country representative said, are critical for emerging markets like Guyana, where blended finance structures are often required to de-risk projects and accelerate investment flows

She also stated that while REDD+ has played an important role in supporting forest - rich countries , the region must move to now deploy a more sophisticated “toolbox” to further unlock vast natural capital

“REDD+ has played an important role so far But we need to scale up, as Pradeepa was mentioning in how we can capitalise, again, the nature capital of this region in a more sophisticated toolbox,” she said

Also present on the panel were Guyana ’ s Country Co - ordinator of the Forest and Climate Leaders Partnership, Preeya Rampersaud and Bioeconomy Investment Expert at Conservation International , Humberto de Andrade Soares

The panellists further explained that beyond REDD +, they proposed new instruments that could further mobilise private capital in Guyana and the wider Caribbean and Latin America region, including debt-for-nature swaps and resilience-linked financing structures.

Food production giant, Del Monte, eyes massive pineapple investment in Guyana

NEGOTIATIONS are ongoing to secure a large - scale pineapple venture with global food giant, Del Monte, which could see thousands of acres under pineapple cultivation.

Chief Investment Officer of the Government of Guyana and Head of the Guyana Office for Investment (Go-Invest) Dr Peter Ramsaroop disclosed to the media earlier this month

Dr Ramsaroop noted that this could positively impact Guyana ’ s vision to dominate value-added markets

He said : “ Del Monte wants to come in and plant 1000s of acres of pineapples , and if you can get that planted, and you can get our pineapple in a can Now, why would I import that pineapple? [It would be] cheaper coming from Guyana , going into the region, and so is futuristic thinking like that that is going to make a difference with the problems or any [trade] barriers.”

Dr . Ramsaroop also pointed out how Guyana is aggressively moving to eliminate trade barriers within the Caribbean Community (CARICOM) and promote regional integration

Out of 186 countries, only Guyana produces enough food to self-sufficiently feed all its citizens without foreign imports, according to new research

The study, published in Nature Food, investigated how well each country could feed their populations in seven food groups: Fruits, vegetables, dairy, fish , meat , plant - based protein and starchy staples

Worldwide, the study found that 65 per cent of countries were overpro -

ducing meat and dairy , compared to their own populations’ dietary needs. It also found that Guyana, located in South America, is the only country that could boast total self-sufficiency, while China and Vietnam are close behind, being able to produce enough food in six out of seven food groups

Just one in seven of the tested countries was judged self - sufficient in five or more categories

Recently , President Dr Irfaan Ali said Guyana is positioning itself to become the Caribbean ’ s leading food production and distribution hub , as the country leverages its raw agricultural output , expanding agro - processing capacity and major infrastructure investments to reach global agro-industrial scale.

Speaking on the country’s long-term development strategy , President Ali had noted that the wider CARICOM region is increasingly looking to Guyana to play a central role in ensuring food security.

He highlighted , too , recent investments aimed at strengthening the entire food ecosystem, from production to processing, storage and distribution Guyana is scaling up the production of priority commodities and promoting diversification into new crops, livestock, and aquaculture, targeting new markets across the Caribbean and internationally to strengthen food trade and supply chains; investing in agricultural infrastructure, such as the construction of farm-to-market roads, modern storage facilities, upgraded ports , and improved transport links, and modernising agriculture

with technology, including through digital extension services, precision farming , and climate - smart practices

Additionally, there are major efforts to transform the livestock industry and expand aquaculture and sustainable

fisheries; drive value addition and trade logistics, thereby retaining more value within the national economy , and promote inclusion and empowerment by ensuring that women and young people are central to agricultural transformation.

GPL to expand grid as electricity demand soars

FROM new substations , transmission lines and smart-grid technology, the Guyana Power and Light ( GPL ) is undertaking a sweeping overhaul of power generation , especially given that peak demand has jumped from 120 megawatts ( MW ) in 2020 to 236MW in 2025.

This is according to GPL’s Chief Executive Officer (CEO) Kesh Nandlall, who , while part of a panel discussion, elaborated on the company ’ s plans to ensure that reliable power can be attained across the coast and hinterland

With more customers coming on to the grid , in -

dustrial activity accelerating and housing developments expanding at a fast pace, GPL recognises the need for a system that fixes bottlenecks and improves reliability In 2020 , the number of customers connected to the grid was approximately 201,000 but now, there are 244,000 customers , which represents a 21 per cent increase in the company’s customer base

Further , in 2020 , GPL outputted 903 gigawatt-hour (GWh), while in 2025, 1,485 GWh was outputted, according to the GPL’s CEO The latest figure represents a 65 per cent increase Nandlall noted that with peak demand climbing, GPL had to move swiftly to meet

this increase and from 2020 to now , it has added more than 186 MW of capacity

Explaining that peak demand is expected to climb this year , the CEO said : “ We have to equip ourselves to now bridge that gap until the ending of the year , when the gas - to - energy project will become available to us.”

Additionally, he projected peak demand in 2030 to be “1 GWh 650 MW.”

There will also be nine new substations built in strategic locations within the next year.

Some 215 kilometres of 69kV transmission line and more than 200 kilometres of new distribution feeders will also be installed

There will also be major upgrades to existing facilities in Georgetown and along the coast

“Everything is going to be built with redundancy,” Nandlall said, noting that the aim is to make power supply more reliable.

To keep pace , GPL is rolling out an aggressive and modern transmission and distribution expansions, which include constructing 155 kilometres of new 230kV transmission lines to take power to Williamsburg in Region Six ( East Berbice - Corentyne) from the gas-to-energy project

Next five years and beyond to be an ‘incredibly exciting’ period of transformation

–– Senior Finance Minister says

SENIOR Minister within the Office of the President with Responsibility for Finance , Dr . Ashni Singh , has declared the next five years and beyond as an “incredibly exciting ” period of unprecedented transformation.

The minister made this position known during the first day of the recently held 2026 Guyana Energy Conference and Supply Chain Expo

Dr Singh, during a panel discussion with Senior Vice - President for Global Energy at S & P Global , Carlos Pascual , stated that Guyana is witnessing a transformation at a pace that, in his own opinion, has perhaps never been seen before By 2030 , Guyana will have the capacity to produce 1.7 million barrels of oil per day, but Minister Singh emphasised that successes will

not be measured in revenue or barrels but how Guyana has developed It is in this regard that Dr Singh highlighted that the nation has experienced rapid development over the past five years, with significant expansion in world - class healthcare, education, more jobs, and modern infrastructure

“We have an incredibly exciting five years ahead of us, and even beyond the next five years We have an incredibly exciting few decades ahead of us We’re about to see something that has never been seen before anywhere else in the world,”

he said

Over the last five years, Guyana has had real economic growth at an average of about 35 per cent per annum , and according to Minister Singh, this growth is not only driven by oil

The non - oil economy has also grown, the minister pointed out , highlighting the average 11 per cent per year, noting that much of the government’s policy attention is devoted to ensuring a “strong, competitive, and rapidly growing ” non - oil economy

Although oil production has surged significantly since its inception, Dr Singh said that oil is a catalyst, not a

destination

However , Guyana ’ s transformation did not begin with oil, as the senior minister underscored ; it was a modern economic strategy, along with the restoration of democracy in 1992 , after nearly three decades of economic decline and bankruptcy that shaped Guyana for today

Over two decades, institutions were built and the

nation’s financial credibility was restored, he underscored, stating that this allowed for Guyana to be repositioned as a “credible and attractive” destination for investment to captivate companies like oil giant, Exxon Mobil

He stated that these well-established companies did not only come because of oil , but they came because of the effort that the People’s Progressive Party/ Civic (PPP /C) government made to establish Guyana as a “hospitable place for foreign direct investment” and a “hospitable place for domestic private investment.”

Additionally, central to Guyana ’ s developmental model is the Natural Resource Fund, which was designed with strict governance and transparency provisions

He said that from the very start , the government made the conscious decision to establish a sovereign wealth fund, notwithstanding

that they are heavily ramping up investment on the public sector side

The minister further noted that the government has been able to accumulate, in the sovereign wealth fund, enough savings now to pay off the total external debt of the country , all within the space of just about five years

“Our philosophical approach here is that saving for future generations will manifest itself not only in monetary savings in the sovereign wealth fund, but will manifest itself in investment in public infrastructure that will generate returns over the long term, and, in particular, public infrastructure that will secure long-term economic growth and facilitate economic diversification with the objective of a more resilient economy, and, in particular, diversification of the non - oil economy ,” Dr Singh later said

One Communications unveils US$25M investment to support digital transformation

TELECOMMUNICA -

TIONS provider , One Communications, will invest US$25M this year to expand connectivity and strengthen digital infrastructure across Guyana, positioning itself to support the country’s accelerating technological and economic transformation

The announcement was made by Chief Executive Officer ( CEO ), Abraham Smith , during the Guyana Energy Conference and Supply Chain Expo held earlier this month, when he outlined the company ’ s strategy to align network expansion with national development priorities

Smith said Guyana ’ s rapid transformation has already moved beyond preparation into active growth , noting that rising demand for connectivity must be met with forward - looking infrastructural investments.

“Guyana is not preparing for growth ; we are clearly operating inside of it ,”

he stated , adding that as major projects such as the gas-to-energy development advance , telecommunications infrastructure must expand in tandem to support industrial and social development

He explained that One Communications has already extended connectivity into Wales and surrounding communities, strengthening transmission routes and reinforcing links to key industrial facilities in the area to match the scale of ongoing energy projects

“Mobile LTE coverage is active there with additional sites planned to support growing traffic and industrial demand, including realignments towards the gas-to-energy location,” Smith said, highlighting that connectivity is now core national infrastructure that underpins supply chains , risk management and economic scaling.

The CEO noted that over the past 15 years, the compa-

, Chief Executive Officer of One Communications

ny has invested more than US$250 million in network development, including approximately US$100 million in fibre expansion alone in recent years

The planned US$25 million investment for 2026 will further expand domestic fibre networks and enhance mobile coverage nationwide

According to Smith, the company has reconfigured network topology, strengthened redundancy and collaborated with national partners such as the Guyana Power and Light (GPL) to ensure telecommunications systems evolve alongside the country’s broader infrastructure rollout

He added that investment is being deliberately decentralised beyond Georgetown, with nearly 80 per cent of the company ’ s fibre footprint already located outside the capital The fibre network currently serves more than 180,000 homes and businesses, with further expansion planned along emerging economic corridors

As the pioneer of Mobile Money Guyana ( MMG ), One Communications also intends to introduce additional digital services and extend reach into more regions as the country deepens its digital economy

Smith pointed to Guyana ’ s evolving legislative framework, including proposed laws on electronic transactions, open data and data protection, as foundational to enabling innovation and the development of new digital platforms

He also expressed optimism about the establishment of a data centre in Berbice, noting that the

company has already begun installing supporting infrastructure in the region

Echoing national policy direction , Smith emphasised that connectivity is no longer optional but is also essential to inclusive development

“ The promise we are making is clear : to invest ahead of demand, to build systems that hold up under pressure, to ensure inclusion beyond the coast , and to strengthen the digital backbone that allows the country to move forward with confidence,” he said

He stressed that for a rapidly developing nation such as Guyana , digital expansion must be driven not only by infrastructural investments , but also by strong partnerships, innovation and collaboration with government, industry and communities to ensure that connectivity supports both economic growth and social advancement , nationwide