“This is not a retail market” – President Ali tells foreign businesses

– urges investors to partner with locals and bring manufacturing plants to Guyana

President Irfaan Ali has sounded calls for foreign companies to partner with Guyanese businesses and shift their operations here, telling them that Guyana is not just a retail market.

The Head of State made these remarks on Thursday evening at the opening of the International Business Expo that is being held at the National Stadium.
The expo features some 389 booths, including 29 international companies from Suriname, Barbados, Trinidad and Tobago, Brazil, Colombia, the Dominican Republic, the United States (US), and India.
“For the international exhibitors who are here, this is not a retail market. If you’re serious about doing business, get into partnership with the local private sector and bring your manufacturing plant and your industrial plant here to Guyana, [and] we will give you the incentive to bring it here so that jobs will be created here, the income will be created here, and the revenue will be created here,” President Ali asserted.
The Guyanese leader was at the time speaking about the construction boom Guyana has experienced over the last five years, even during the COVID-19 pandemic period when most of the global economies were struggling. As a matter of fact, from 2020 to 2025, cement imports in Guyana grew by nearly 200 per cent, while paint imports increased by almost 300 per cent, and steel imports skyrocketed to an unprecedented 2600 per cent.
According to President Ali, “If this level of demand is there for cement, paint and steel, then we have to work with the private sector to expand their capacity to produce these important input materials right here in Guyana.”

With the cost of electricity in the country expected to be significantly slashed by half when the Government’s model Gas-to-Energy (GtE) Project comes on stream mid next year, the Head of State stressed, “…that steel will be produced here, that paint… that cement – all of it will be produced here. And that is where we are leading the economy, into a mass manufacturing and industrial base, to satisfy these demands.”
Over the last four years, the demand for construction material has significantly increased across the country. Local paint production has moved from 2.9 million litres in 2020 to almost six million litres in 2024.
“When you look at the total paint production in the last four years, it is more than 40 million litres of paint locally,” he stated, adding that the same trend is seen in sand and stone production.
According to Ali, the increase in local production not only expands business operations but also opens up opportunities for job creation and reduces prices.
“These are the stories that we are very proud of… When you look at private growth in the last four years, the growth of opportunities, more jobs, the expansion of the quarrying sector, and the mining sector – when those expand… demand for heavy equipment increases. When demand for heavy equipment increases, what happens? More need for mechanics, more need for heavy-duty operators, and more need for servicemen and women [and these lead to] higher-quality jobs and higher-paying jobs. That is how the economy is integrated,” the President stated.

Economic engine
Similar sentiments were expressed by Housing and Water Minister Collin Croal during Thursday’s opening ceremony of the International Building Expo. The Minister pointed out that his Ministry’s housing and water programme is an “economic engine” that has generated jobs for contractors, masons, carpenters, engineers and suppliers while also creating opportunities for young entrepreneurs and small businesses.
According to the Minister, the Building Expo provides a platform for the stakeholders in the construction sector to explore more opportunities.
“This Expo will once again bring together developers, contractors, engineers, architects, suppliers, banks, insurance companies and policymakers in one venue. It is here that ideas will be exchanged, partnerships will be formed and the foundations for the next wave of construction development will be laid. We expect to see some of the latest innovations in housing designs, green-building technologies and sustainable infrastructure… You will witness first-hand how technology, engineering and creative thinking are transforming the way we build,” Croal stated.
Under the theme “The Road to Success: Guyana 2030 and Beyond”, the International Building Expo 2025 will run from August 14 to 17 at the Guyana National Stadium, and according to Minister within the Housing and Water Ministry Susan Rodrigues, the Expo creates a platform for small- and medium-scale businesses to network and showcase their products and services.
“We will witness another remarkable gathering of professionals, builders and stakeholders that provides incomparable opportunities for networking among industry leaders and also provides Guyanese with affordable options driven by competition,” Minister Rodrigues noted.
The Expo will highlight all of the Government’s successes and progress over the last five years in housing, water, infrastructure, agriculture, health, and education.