“Now is the time to invest in Guyana” – Bharrat tells local, foreign investors 

Declaring that “now is the time to invest in Guyana”, Natural Resources Minister Vickram Bharrat on Tuesday urged both local and foreign investors to continue to seize the opportunities emerging from the country’s rapidly expanding economy as he addressed the opening of the fourth annual Local Content Summit 2026.
Held at the Four Points by Sheraton, the summit was themed “From Policy to Prosperity: Unlocking Opportunities through Collaboration” and brought together Government officials, industry leaders, investors and stakeholders to examine the role of local content in Guyana’s economic transformation.
“We say to investors, both local and foreign, now is the time to invest in Guyana. If you don’t invest now, you’ll probably miss the opportunity,” Bharrat noted during his remarks.
Describing the current period as a defining moment in the nation’s history, the Minister added:
“This period, this juncture in our history, is probably the most exciting period there will ever be in the history of Guyana, and all of us here have a front seat to that. We are going to see the building out of a new modern Guyana. We are building out the modern Guyana that our ancestors, that our fore parents, toiled and lost their lives to build for us.”
Those also delivering remarks at the opening ceremony included the Minister with Responsibility for Finance, Dr Ashni Singh; Director of the Local Content Secretariat, Michael Munroe and Chief Executive Officer of Prestige Management Consultants Anita Ramprashad, among others.
Addressing participants, Bharrat emphasised that Guyana’s success is rooted not only in its oil wealth but in deliberate policy decisions, strong governance and effective management of the sector.
Drawing a comparison with neighbouring Venezuela, Bharrat argued that natural resources alone do not guarantee economic success.
“Just next door to us, there’s a country that is claiming two-thirds of our territory with almost 300 billion barrels of oil in reserve and has been producing oil for decades, which happens to be one of the worst-managed economies in this part of the world today,” he said.
“So it shows you clearly; it is not oil and gas that have propelled Guyana to be the fastest-growing economy in the world. Because if it was oil and gas, then Venezuela would have been the best economy in the world if it was only oil and gas.”
Instead, Bharrat credited what he described as “sound leadership, brave, decisive leadership, good management, [and] making bold decisions” for Guyana’s rapid economic growth.
The Minister highlighted several policy initiatives implemented since 2020, including the establishment of the Natural Resource Fund (NRF), the enactment of local content legislation and the modernisation of petroleum laws.
He noted that more than 7000 Guyanese are now directly employed in the oil and gas sector and pointed to the development of a world-class training centre at Port Mourant aimed at preparing workers for opportunities within the industry.
According to Bharrat, the Local Content Act has been instrumental in creating opportunities across multiple sectors beyond oil and gas.
“It all comes back to the local content legislation because the local content legislation provides the opportunity for the expansion of those sectors,” he noted.
“Whether they are in Black Bush Polder or Ebini, or wherever they are cultivating their crops, they now have an opportunity to expand their farm from one acre to ten acres, from two acres to twenty acres, because the market is being provided for them.”
The Minister also pointed to growth in housing, transportation and medical services as examples of how local content policies have generated broader economic benefits.
Referencing a local entrepreneur who expanded a vehicle fleet from four cars in 2021 to 120 vehicles by 2025, Bharrat said the growth continues to create ripple effects throughout the economy.
“Now that translates to opportunities, not only for himself, but rather than employing four drivers, he now needs more than 120 drivers because they work on shifts,” he said.
Bharrat also underscored the importance of balancing petroleum development with environmental stewardship, noting that Guyana remains one of the world’s most heavily forested nations while expanding oil production.
“Not many countries in this world can boast of producing almost a million barrels of oil while at the same time saying that they’re the second most forested country in the world, with the lowest deforestation rate,” he said.
Bharrat stressed that collaboration and partnerships have been essential to Guyana’s success, acknowledging the role played by international energy companies in developing the country’s petroleum resources.
“There is no way that Guyana could have developed this resource on its own… Without Exxon and without CNOOC and without Hess and the other players here, we could have never gotten to the point where we are right now. And that is why collaboration and partnership are important,” he noted.
The Minister also reminded that the Government is still considering amendments to Schedule One of the Local Content Act to reflect the increased capacity of local businesses.