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Guyana’s development pathway is being shaped around a strategy of economic growth supported by diversification, industrialisation, and fiscal incentives aimed at broadening opportunities across sectors. The emphasis is on creating a balanced economy that strengthens traditional industries while harnessing the potential of emerging ones.
Agriculture, mining, and forestry remain critical pillars of the national economy, and plans are in motion to accelerate job creation across these areas. A key component involves opening 100,000 acres of land for cultivation, supported by improved infrastructure such as farm-to-market roads, drainage, and irrigation networks. These investments are designed to not only expand agricultural output but also improve resilience against climate impacts and ensure long-term food security (DPI Guyana).
To stimulate private sector development, a new Development Bank for small and medium enterprises is on the agenda. This institution will provide easier access to financing for businesses, particularly in areas such as agro-processing, light manufacturing, and services. Complementary measures include fiscal incentives that guarantee no introduction of new taxes, the removal of value-added tax on heavy machinery, and the elimination of the tributors tax, all aimed at reducing operational costs and encouraging further investment (News Room Guyana).
The energy sector is positioned to play an increasingly transformative role. Oil production is projected to reach 1.7 million barrels per day by 2030, supported by rapid progress in the gas-to-energy programme. This initiative will ensure more affordable power domestically, while simultaneously boosting the export of liquefied natural gas and cooking gas to regional and global markets (DPI Guyana).
Industrial development is also a cornerstone of the plan, with a special focus on transforming Berbice into a hub of modern industry. By fostering agro-industrial complexes and expanding manufacturing capacity, the goal is to position Guyana as the Caribbean’s leading industrial capital. This approach aims to attract investment, create thousands of jobs, and significantly increase the country’s export competitiveness (News Room Guyana).
Together, these strategies reflect a vision of sustainable growth that moves beyond reliance on a single industry. By combining investments in agriculture, infrastructure, energy, and manufacturing with business-friendly policies, the framework seeks to secure long-term prosperity while ensuring that opportunities reach communities across the country.
The Guyana Project is an independent media platform delivering fact-checked, ground-level reporting on politics, economy, and public life in Guyana. With a focus on transparency and development, we bring unfiltered news and thoughtful analysis to help shape a more informed, forward-looking nation.
Driving Economic Growth through Diversification and Industrial Expansion
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