“We can’t think only about empowerment through wages, cash grants” – Pres Ali

…emphasises need for workers to diversify income

President Dr Irfaan Ali has emphasised the need for workers to seek to diversify their incomes, noting that economic empowerment must not only come through wages or direct cash grants. He was at the time speaking during a Labour Day brunch he hosted for workers on Friday last at State House.

“We can’t only think about empowerment through wages. We can’t think only about empowerment through cash grants. We have to think about empowerment as something long-term. Something sustainable. Something that will elevate the family,” the President expressed. According to him, workers must learn and be given opportunities to diversify their incomes. “Empowerment is not only in the form of structured salaries,” he noted.

Diversify through entrepreneurship
According to President Ali, a key aspect of this empowerment is for workers to diversify their sources of income. This can be achieved through entrepreneurship, which can be supported by the soon-to-be-launched Guyana Development Bank (GDB). “So, we can take your innovative ideas. So that we can take your small vision and work alongside you. And transform that vision into something grand. That allows you to build your own business. That allows you to take charge of your own revenue stream. That allows you to build a new model of development. A new model of revenue. And a way in which you can empower yourself,” he expressed.
The sum of US$100 million was set aside in Budget 2026 to launch the GDB this year. Targeting small and medium-sized enterprises (SMEs), especially those led by vulnerable groups such as women, youth, and persons living with disabilities, this state-backed financial institution will offer zero-interest, zero-collateral loans of up to $3 million, with the possibility of an additional $7 million in financing from commercial banking institutions at preferential rates.

Diversify through Investments
Another key initiative is the creation of opportunities to invest in state-led projects.
“We have to develop our opportunities and carve out a specific modus, a specific programme through which our workers can own things. You have to own things. We want the workers to own things. And that is why in all the major opportunities, whether it’s the gas plant or the fertiliser plant or whatever is coming, we are going to develop special mechanisms and incentives so our workers can invest and our workers can own a piece of the assets of the future,” President Ali said.
Just last month, the Guyanese Government issued a preliminary call for investors, especially Guyanese, to support two major projects – the cooking gas bottling plant and fertiliser facility, which will utilise natural gas that will be brought onshore via the Gas-to-Energy (GtE) Phase Two Project at Wales, West Bank Demerara (WBD).
Investors are invited to submit preliminary Expressions of Interest (EoIs) by May 15 to be part of the entities that will be set up for these energy projects. For the Guyana Ammonia and Urea Plant Inc (GAUP), which is pegged at US$300 million, the Government is targeting investments with a cap of US$5 million per investor. Additionally, the Guyana Gas Bottling and Logistics Company Inc (GGBLC), which is estimated at US$40 million, has a cap of US$1 million per investor. However, it was noted that interested parties may indicate the maximum amounts they are willing to invest. Investors can assume a Government guarantee of a 10 per cent annual return on both projects. Moreover, both GAUP and GGBLC will be private companies and not publicly traded entities. While the Government is inviting all interested investors to apply, it noted that preference will be given to Guyanese investors, including those in the diaspora.

Empowerment through education
Meanwhile, the head of state also explained that a key part of this empowerment drive is to ensure every person benefits from a good-quality education.
“So, your children can have the best opportunity to become whatever they want to become in this country of yours. That is giving them a chance of having the best possible future ahead of them,” President Ali noted. In addition to making the University of Guyana (UG) tuition-free, the Government has created tremendous opportunities for citizens to upskill and retrain themselves for emerging economies within the country, all free of cost.

Empowerment through infrastructure
President Ali further outlined that empowerment is achieved through the Government’s investment in infrastructure.
“When you’re living in the south and we finish the Aubrey Barker Road, your value goes from $20 million to $100 million. That is $80 million of net value we have created for that labour family,” he explained, noting that citizens must now be taught how to leverage that added value. “And this is what I spoke to the unions about today. How do we work with the workers to deploy this additional value? To use this additional value that the Government is creating within your families and in your communities. To earn you more money. To diversify your income. To expand your income base. And to give you an opportunity of true long-term transformation,” he expressed.