Industrial zones with tax-free incentives to triple foreign investment in 2025 – Pres Ali

With Guyana’s rapid economic growth and robust policy agenda yielding fruit, President Dr Irfaan Ali has disclosed that there are plans to establish special investment zones countrywide, which could have tax-free incentives for potential investors.
During a recent interview, the President highlighted that Guyana, through systems put in place by the People’s Progressive Party/Civic (PPP/C) Government when it assumed office in 2020, now has the best incentive and most competitive regime in the Caribbean for investment, and spaces must now be identified for further development. With this in mind, the administration is moving to create industrial zones or hubs to boost investments for locals, especially those in the manufacturing sector.
According to the Head of State, the areas identified would experience high-level growth in the coming years as Government continues to develop the necessary infrastructure.
“We are looking at Lethem, Region Nine, which is the border between Guyana and Brazil. We are looking at Linden; we are looking at Region Two, Region Six, and some other areas that will come under a special investment regime,” he disclosed.
“Additionally, the Enmore Development Zone (and) Wales Development Zone will come under the regime that will go to Parliament that will define clearly that these areas will have special and differential treatment, because we want to simulate the growth and expansion in those areas,” the President revealed.
The Guyanese Leader explained that investments in each zone would be governed by an Act that would be tailored to situations and communities within that area, and would be similar to the Special Investment Act for Linden in Region 10 (Upper Demerara-Berbice).
In this regard, President Ali revealed that Government aims to spearhead the venture in 2025 through the fiscal package for that year.
“I know the AG (Attorney General) is already drafting what the structure will look like; is now identifying those zones, and is going to Parliament…,” he disclosed.
“We are the only country in the region that is positioned to do this at scale; not because of our own size geographically, but because of our access,” he added.
Guyana’s incentives to foreigners are geared towards encouraging investment and economic development. These include tax holidays, duty-free concessions, and other benefits in sectors like mining.
President Ali underscored that Guyana’s potential as the world’s premier eco-tourism destination is unparalleled, and, as such, incentives for companies to invest in state-of-the-art facilities are provided.
Ali also pointed out that Guyana’s unique advantage, coupled with substantial Government incentives, is opening up lucrative opportunities for investors to participate and reap the rewards in the healthcare, agriculture, oil and gas, infrastructure and manufacturing sectors. (G1)