Shipping Association commends Govt on transformative 2025 National Budget

Dear Editor,
The Shipping Association of Guyana (SAG) applauds the Government of Guyana for presenting a progressive and transformative 2025 National Budget under the theme “A Secure, Prosperous, and Sustainable Guyana.”
This budget demonstrates the Government’s unwavering commitment to fostering economic growth, enhancing infrastructure, and creating opportunities that benefit all Guyanese, especially those in the maritime and shipping sectors.
SAG welcomes construction of a new Parika ferry stelling and the Waterfront Development Project. This transformative initiative will position Parika as a major regional hub for transportation and commerce.
This development prioritizes operational efficiency, safety, and commuter comfort, ensuring the region’s growth potential is fully realized.
Equally commendable is the Government’s commitment to dredging of the Demerara River channels to accommodate larger ships. This initiative will not only enhance navigational safety, but also reduce shipping costs and increase the efficiency of trade logistics. By ensuring that Guyana can handle increased trade volumes, this project cements the country’s role as a critical player in regional and global trade.
The SAG also applauds theallocation for the removal of wrecks and obstructions inthe Essequibo and Demerara rivers. This long-overdue measure will improve navigational safety, boost operational efficiency, and create a more seamless shipping experience; which are critical for supporting the country’s economic aspirations.
The SAG also recognizes the fiscal reforms introduced in Budget 2025 as measures that will benefit both businesses and the working class. Key initiatives such as increasing the income tax threshold to $130,000, reducing PAYE rates, and introducing non-taxable overtime earnings up to $50,000 demonstrate a strong commitment to enhancing disposable income, stimulating domestic spending and creating a more inclusive economy.
The Shipping Association of Guyana lauds the Government’s strategic approach to fostering macroeconomic stability, reducing costs, and investing in critical infrastructure. These efforts will undoubtedly empower the maritime and shipping sectors to thrive, enabling Guyana to capitalize on its growing economic opportunities.
We look forward to collaborating with policymakers to ensure the successful implementation of these initiatives. The SAG remains dedicated to supporting measures that enhance Guyana’s competitiveness and create a sustainable future for all stakeholders.

Sincerely,
Shipping Association
of Guyana