China’s investments in Guyana top US$10B in 2024

China’s investments in Guyana totalled more than US$10.6 billion in 2024 alone, said Chinese Ambassador to Guyana Yang Yang, as the two countries celebrated 53 years of friendship at a reception at the Marriott Hotel in Kingston, Georgetown, on Thursday.

Bilateral trade reached US$1.4 billion this year, four times higher than in 2019, highlighting deepening economic ties between Beijing and Georgetown.

“We regard Guyana as a key partner in the Caribbean and Latin America, and firmly support Guyana in pursuing your own development path. And we are committed to taking our relations to a new level on the basis of mutual respect,” Ambassador Yang said.

Speaking at the event, President Irfaan Ali underscored the deep-rooted and evolving partnership between the two countries.

He also reaffirmed Guyana’s unwavering support for a global order based on democracy, peace, sovereignty, freedom, and respect for territorial integrity.

“Discussions were held with Ambassador Yang which included safeguarding of our sovereignty and territorial integrity and the role China must play in ensuring this region remains peaceful and our neighbour in a just manner, follow what we all believe that is international order and the rule of law and the respect of our sovereignty and territorial integrity,” he said.

Ali also restated Guyana’s support for the One China policy.

“China has stood with us, partnered with us, and lent support in critical national priorities,” he added.

China has backed several major infrastructure projects in Guyana, including the New Demerara River Bridge, expansion of the Cheddi Jagan International Airport, six new regional hospitals, and the development of the Guyana-China Friendship Joe Vieira Park.

Ambassador Yang said cooperation would continue to expand across sectors such as energy, mining, infrastructure, and agriculture, with increasing interest in new areas of partnership.

“We are also willing to work with Guyana to tap deeper into cooperation potential, and to expand our collaboration from traditional areas such as energy, mining, infrastructure, and agriculture to emerging fields like the digital economy, green development, and artificial intelligence,” she said.

Guyana was the first English-speaking Caribbean country to establish diplomatic relations with China, in 1972.