Dr Singh: Now is the time to invest in Guyana’s booming economy

The government is making significant strides in diversifying and fortifying the non-oil economy, with impressive growth across agriculture, construction, and mining sectors, said Senior Minister in the Office of the President with Responsibility for Finance and Public Service, Dr Ashni Singh, as he made a compelling case to investors at the Guyana Energy Conference and Supply Chain Expo today.

Guyana’s economy is experiencing extraordinary expansion, with annual growth averaging approximately 40 per cent from 2021 to 2024.

“The Guyanese economy at the end of 2024 was five times larger than it was at the end of 2019. Our nominal GDP was just about GY$1 trillion or US$5.2 billion in 2019. By 2024, our nominal GDP surpassed GY$5 trillion or nearly US$25 billion. In per capita terms, that translates to an increase from just over US$6,500 in 2019 to over US$30,500 in 2024,” Dr Singh highlighted.

He emphasised that the government’s investments in transport infrastructure—including roads, deep-water ports, and other large-scale projects—are designed to improve connectivity, reduce inefficiencies, and unlock new business opportunities.

Key initiatives include the Linden to Mabura Hill Road, enhancing connectivity with Brazil, and plans for a bridge across the Corentyne River to strengthen links with Suriname.

In the energy sector, Dr Singh underscored transformative projects such as the gas-to-energy initiative and climate-resilient ventures, which are poised to create a more sustainable and diversified energy landscape.

Beyond infrastructure and energy, the government is making substantial investments in human capital development, as well as improvements in health, housing, and water, creating a more robust foundation for long-term economic resilience.

Dr Singh also pointed out that Guyana’s strategic geographic location and free trade agreements offer significant advantages for investors. The country’s proximity to Brazil and Suriname, along with its integral position within the Caribbean Community (CARICOM), provides seamless access to a large and dynamic regional market.

Investors can capitalise on multiple trade agreements with major partners, facilitating business expansion and market penetration.

“It does not matter what you produce or what you supply. There is demand for whatever it is that you’re producing or supplying in every single sector, whether it’s agriculture, forestry, tourism, or energy,” Dr Singh stated, highlighting the vast opportunities available.

In the oil and gas sector, which remains a significant economic driver, Minister Singh reminded attendees that local content legislation fosters opportunities for joint ventures and partnerships with local companies and nationals.

“If there is anybody still asking why Guyana? Where else but Guyana would you hear such a fascinating and factual story unfolding?” the minister enquired.