Guyana

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Guyana business opportunities are largely tied (directly or indirectly), to agriculture and natural resources. In fact, the economy is heavily dependent on the export of a mere six key commodities – sugar, gold, bauxite, shrimp, timber, and rice – which represent nearly 60% of the country’s GDP (other exports include diamonds, alumina, garments, rum, and pharmaceuticals). While Guyana is one of the poorest nations in the Western Hemisphere, it’s economy has nevertheless witnessed moderate economic growth of late. Factors that have encouraged growth include – the sale of numerous state-owned companies, removal of price controls, improvement of laws affecting mining and oil exploration, tax reforms designed to promote exports and agricultural production in the private sector, a more realistic exchange rate, as well as continued high world demand for commodities.

Factors that pose risks to Guyana business ventures include – an economy highly susceptible to adverse weather and fluctuations in commodity prices, a deficient infrastructure, shortage of skilled labour, plus sizable external debt which impedes the government’s ability to expand public investment.

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