Guyana pushes for stronger regional connections for greater investment

The International Business Conference (IBC), themed “Building a Strong Tomorrow: Guyana’s Manufacturing Sector,” served as a key platform to explore the dynamic economic ties between Guyana and Suriname.

The event emphasised the importance of regional collaboration in driving sustainable growth and development.

Guyana’s Chief Investment Officer of the Guyana Office for Investment Dr Peter Ramsaroop delivered a keynote address highlighting how these strategic connections are fostering new investment opportunities, regional trade, and a broader vision for prosperity in the region.

Dr Ramsaroop stressed the importance of the close relationship between Guyana and Suriname, two neighbouring Jaguar economies with aligned goals in sustainable development and economic growth.

He emphasised that this partnership enables increased movement of goods, services, and people, leading to greater economic integration.

Key to this connection is the twinning of products between Guyana and Suriname, which allows both nations to complement each other’s strengths in sectors like agriculture and agro-processing, energy, large-scale manufacturing and eco-tourism, thereby creating a more robust regional market.

The benefits of Guyana’s strategic location extend beyond its connection with Suriname serving as a critical link to Northern Brazil, a landlocked region with untapped economic potential.

Dr Ramsaroop emphasised the impact of Guyana’s deep-water port, set to enhance cross-border trade and provide access to global markets for Northern Brazil. This infrastructure positions Guyana as a gateway to the Atlantic, making it a crucial player in the regional supply chain and boosting trade flows.

He also pointed out the significant investment potential in Lethem, a town near the Brazil-Guyana border. Opportunities in hotel and casino developments, large-scale agriculture, and cold storage facilities were highlighted as key areas for growth. With the development of an international airport in Lethem and the deep-water port in Berbice, investors can leverage Lethem’s strategic position as a logistics and tourism hub, further contributing to Guyana’s economic diversification.

Additionally, Dr Ramsaroop spoke about the recent introduction of the regional ferry service connecting Guyana to Trinidad and Barbados, which has expanded the logistics sector. This new transport route improves the movement of goods and people, making Guyana a key logistical hub and an attractive destination for investment. This enhanced connectivity supports regional trade, creating a more integrated market that benefits all participating countries.

Georgetown, the capital of Guyana, is also undergoing rapid development, with nine international hotels under construction and 3,000 high-quality new rooms expected by 2026. These projects aim to enhance the tourism sector, offering more value-added experiences that appeal to international travellers.

This growth in hospitality is aligned with Guyana’s broader goals under President Dr Irfaan Ali’s Vision 2030 and Beyond Agenda, focusing on sustainable development, energy and food security, and the well-being of its citizens.

Dr Ramsaroop’s address at the IBC underscored the strategic opportunities emerging from Guyana’s partnerships with Suriname, Northern Brazil, and the Caribbean region.

Through investments in logistics, infrastructure, and tourism, Guyana is building a foundation for long-term economic stability and growth. As these regional connections strengthen, the vision of a prosperous, integrated future for Guyana and its neighbours becomes more attainable, offering benefits that extend across the entire region. This collaborative approach not only secures a bright future for Guyana but also positions the country as a pivotal player in driving regional development and attracting global investments.