Journey getting fired up: National economic, infrastructure expansion plan to be unavailed

A national economic expansion and infrastructure integration plan outlining an unprecedented five-year transformation will soon be unveiled.

This is according to President Dr Irfaan Ali, who made the announcement while speaking at the Guyana Oil and Gas Energy Chamber’s Annual Awards Presentation Dinner at the Marriott Hotel in Georgetown on Friday.

Ali said the plan will map the country’s rapidly accelerating development, supported by large-scale investments in energy, infrastructure, logistics, and emerging industries.

“This journey is now getting fired up,” he told industry leaders, policymakers, and private-sector executives. “In the coming days, I will open with great clarity the economic expansion, infrastructure integration and development projections for our country over the next five years.”

The President said the next phase of investment will centre on Wales and Berbice, which he described as forming the core of a new national energy ecosystem.

At Wales, more than US$4 billion is expected to be spent over five years on the gas-to-energy project, power plants, fabrication facilities, industrial zones, marine works, and logistics services.

In Berbice, a second gas project, a deep-water port, industrial expansion, and a gas pipeline estimated at more than US$2 billion will anchor another wave of development.

Combined, the initiatives are set to drive close to US$10 billion in new infrastructure and energy-related investment.

“This is remarkable. If this does not excite us as a people, I don’t know what will,” Ali said.

Guyana is projected to end the year producing about 930,000 barrels of oil per day, up from 650,000 barrels earlier in 2025. Output is expected to reach a conservative 1.3 million barrels per day by 2030.

Ali cautioned that a global oversupply is forecast between 2025 and 2030, saying Guyana must maintain a competitive and technologically advanced energy sector.

“This industry is price, cost, technology and regulatory sensitive. That is why disciplined, careful planning is essential,” he said

He added that sustained growth will depend on preparing the labour force for rapid expansion, noting persistent shortages in skilled workers.

“The greatest complaint in the private sector today is a shortage of human capital,” he said, urging workers to prioritise skills training, productivity, and excellence to keep pace with national development.