Guyana stands on the threshold of economic transformation. The message delivered by Vice President Dr Bharrat Jagdeo at Guyana Online Academy of Learning (GOAL) graduation ceremony on Tuesday was timely and significant for both the over 2,000 graduates in attendance and the broader national community. His remarks serve as a call for young professionals to harness the opportunities being unlocked by the country’s rapidly evolving economic landscape.
Over the past decade, Guyana’s development trajectory has been reshaped by the advent of the oil and gas sector. However, what sets the current phase apart is the deliberate policy direction to ensure this growth is inclusive, diversified, and future-focused. The Vice President’s announcement of a forthcoming development bank offering zero-interest financing to small and medium enterprises (SMEs) is a commendable step in this direction. This initiative could potentially dismantle a long-standing barrier to entrepreneurship—access to affordable capital, while promoting a more active private sector, led by a new generation of Guyanese innovators.
Beyond finance, the policy thrust outlined by Jagdeo demonstrates a clear intent to broaden the country’s economic base. The deliberate positioning of key sectors such as environment, hospitality, and digital services alongside oil and gas is a recognition that long-term sustainability demands diversification. With more than 10,000 Guyanese now working in the oil and gas industry and over US$700 million in procurement opportunities accessed by local companies, the framework for local empowerment is not theoretical, it is already producing tangible benefits.
Moreover, the announced expansion of the Local Content Law to cover additional sectors signals a widening of the net of opportunity. This move could catalyze job creation in emerging areas while further embedding national ownership in the development process. Such policy mechanisms, when paired with strategic education initiatives like the GOAL scholarship programme, create an enabling environment for meaningful upward mobility.
The significance of the GOAL programme itself must not be overlooked. Initially conceived as a campaign promise to deliver 20,000 online scholarships, it has exceeded expectations with over 39,000 scholarships awarded. This represents the fulfillment of a political commitment and the empowerment of a generation that is better equipped to lead Guyana into the future. The more than 500 individuals who earned master’s degrees this year are all potential leaders, entrepreneurs, and change-makers.
However, the Vice President’s caution to graduates not to rely solely on government employment should be taken seriously. In a modern economy, the public sector alone cannot absorb the full talent pool of graduates. The emphasis on creating Guyanese-owned companies to provide outsourced services to the state emphasizes a shift toward a more entrepreneurial development model. This represents a critical opportunity, but it also places a responsibility on young professionals to be proactive, innovative, and prepared.
Financial literacy and empowerment, which Jagdeo flagged as major policy areas for the government’s next term, are essential pillars of this new economic model. In an environment where investment opportunities will be more democratized, underwritten by the state to minimize risk, citizens must be equipped with the tools and understanding to make informed decisions. Building this capacity at the grassroots level will be key to ensuring that prosperity is not concentrated in the hands of a few but shared across the population.
As Guyana navigates this phase of accelerated growth, it is critical that policy, education, and opportunity remain aligned. The Vice President’s vision offers a roadmap, but its realization depends on execution and on the will of citizens, especially the youth, to step up to the challenge. The transition to a knowledge-based, service-driven, and entrepreneurially vibrant economy is within reach, but only if supported by a culture of innovation, accountability, and sustained effort.
Guyana is entering a decisive chapter. The next generation of Guyanese professionals, armed with education, ambition, and state support, must now lead that charge.
