Guyana heading for ‘new wave’ of economic opportunity

Chief Investment Officer and Agency Head of the Guyana Office for Investment, Dr. Peter Ramsaroop, has urged investors to pay attention to the government’s development plans as Guyana enters a new wave of economic opportunity, supported by the much-anticipated reduction in energy costs.

Dr. Ramsaroop made these remarks at the launch of ‘Air Dash’, the country’s newest luxury aviation service, a partnership between the local company Roraima Airways and a Panamanian helicopter company.

He told the gathering that ‘Air Dash’ was developed to serve a growing need for efficient travel, noting that the company is the first in a wave of investment activities set to impact every sector.

Given the government’s vision to transform Guyana through various infrastructural developments, the modernisation of existing industries, and a manufacturing phase that will take off as a result of cheaper energy, the Chief Investment Officer urged investors to keep an eye on the government’s budget to understand where investment opportunities exist and how they can fit.

“The next phase, as we bring electricity costs down this year, will usher in a new wave in Guyana called the manufacturing wave,” he said.

The first five years have seen the oil and gas industry “stirring” the economy, and now the government is using its resources to modernise key industries.

“So, when you look at what is going to happen in the future, in the next phase of Guyana, investments like this are just a start,” he said in reference to Air Dash. He also advised investors that if they are considering where to invest in Guyana, they should “read the budget and follow the money.”

Air Dash’s Director, Gerry Gouveia Jr., in his remarks, said that the private sector is proud to access the essential facilities that the government has been developing, as these provide the foundation for increased investment.

He noted that the private sector welcomes investment and the increased opportunities for Guyanese businesses to partner with international companies to create unique products and relationships.

Gouveia Jr. underscored that the successful launch of ‘Air Dash’ is a result of meaningful partnerships and collaborations, not only between the aviation companies but also with entities like ANSA McAL, which provides land travel facilities for Air Dash clients, Impressions Branding, Scotia Bank, and regional partners with whom discussions are being held regarding regional travel that will connect the Caribbean to Guyana.

Air Dash is offering an executive flight service to enhance corporate travel within the country. It currently operates 10-minute flights between Georgetown and Timehri, as well as services to the Vreed-en-Hoop Shorebase and Essequibo.

A section of the gathering at the launch