Entrepreneurs must seize local business opportunities in Guyana – Walrond

Tourism, Industry and Commerce Minister Oneidge Walrond has urged local entrepreneurs to take advantage of the “remarkable” opportunities coming their way for investing in Guyana’s economy.
She was at the time speaking at the second edition of the ‘Econome Business Conference and Mixer’ on Saturday.
“We must send a resounding message that the time is now. The time to invest is now, the time to seize business opportunities is now, the time to explore collaboration is now and the time to strike deals is now,” the Tourism Minister emphasised.
She noted that with the growing number of ongoing developments, the country has witnessed its economy mounting at a phenomenal rate.
“More than one billion US dollars has already been deposited into our Natural Resources Fund (NRF). Our non-oil economy is expected to grow at a rate approaching ten per cent, which is more than itself the overall global average,” Walrond highlighted.
The Minister further emphasised that with strategic leadership and interventions by the Government in all sectors, efforts are being made for the citizens who will reap the benefits and enjoy a country of constant advancement.
In the recent past, Guyana has been receiving significant attention from foreign investors, indicating their interest in the various opportunities available in the country.
While speaking at a webinar in March, the President of the Guyana Manufacturing and Services Association (GMSA), Rafeek Khan, noted that Guyana’s investment regime makes it an attractive destination for investors.
“Companies are very, very excited to partner in Guyana. The cost of getting leased land is more lucrative in Guyana… We see our tax incentives are being easier to do business in Guyana. So, there is a wide range of opportunities in Guyana and why businesses want to come in,” he stated.
Meanwhile, during a press conference held in April, President Dr Irfaan Ali had announced that the Government is working on a project that will allow investors, including ordinary Guyanese, to invest and get returns in the country’s booming oil and gas sector.
“I’m now working on a plan to go much larger and much further than SUVs [vehicles contract], one in which all the private sector, every single cent, we can mobilise as a country to invest in a business opportunity in the oil and gas sector to create an infrastructure that all those investors can invest and one in which ordinary Guyanese will be able to invest so that they too can be part of the growth and opportunities. I will launch that very soon,” the President said.
A recent report published by FocusEconomics, a provider of global forecasts, stated that Guyana will lead the list of top five nations with the fastest-growing economies up to 2026.