British investors see lucrative opportunities in Guyana’s booming economy
─ Trade Mission highlights growing economic ties between Guyana, UK
British investors are keenly exploring investment opportunities in Guyana, recognising the country’s burgeoning economy and favorable business environment. This increasing interest was highlighted at a recent reception hosted at the British High Commissioner’s Residence for a visiting British Trade Mission.
This is the third trade mission to Guyana since the current administration took office in 2020. Notably, trade between Guyana and the United Kingdom has surged during this period, underscoring the strengthening economic ties between the two nations.
“Guyana is open for business,” affirmed Minister of Tourism, Industry and Commerce, Oneidge Walrond. In her address to the gathering, she emphasised the government’s commitment to fostering a conducive environment for business development.
“This kind of movement doesn’t come lightly, it doesn’t come by a fly by night, it really comes from vision, it really comes from dedication from a government that understands how to navigate where we are and how we fit in the world economy and the fact that we are able to present to our investors, they have to come and they have to have confidence.
“We heard about 50 per cent of the businesses have been able to create partnerships and we’ve seen successful businesses out of these UK trade missions, it is because the confidence is there,” Minister Walrond stated.
British High Commissioner to Guyana, Jane Miller, enthusiastically promoted Guyana’s investment potential and the enduring reputation of British brands at the event. She emphasised Guyana’s welcoming business environment and the numerous opportunities available to British investors.
“We’re very proud to be bringing the British brand to Guyana,” Miller declared. She highlighted the longstanding presence of British machinery in even the most remote corners of the country, underscoring the reputation of British brands for quality, innovation, and value for money.
Miller emphasized that British investors are not merely seeking short-term gains, but are committed to establishing long-term partnerships and contributing to Guyana’s sustainable development.
The High Commissioner’s remarks align with the growing interest among British businesses in exploring investment opportunities in Guyana.
The trade mission held about 60 meetings with the local private sector to explore mutually beneficial opportunities. The delegation represents a wide range of sectors, including construction materials suppliers, heavy equipment suppliers, financing for infrastructure services and goods, project financing, financing for equipment, and equipment to support poverty reduction and pollution prevention.
Head of the delegation and Managing Director of the Caribbean Council, Chris Bennett, expressed optimism about the mission’s potential to generate concrete outcomes.
“When we do these trade missions, we really are very serious about trying to make something happen from them… And I’m really delighted to say that that is what seems to be working from the previous missions that we’ve organised. Over 50 per cent of the companies that have come have ended up signing some sort of partnership deal or contract with partners here in Guyana,” he disclosed.
Bennett also noted the significant improvements in connectivity between the UK and Guyana, with direct flights now available and a weekly cargo service from the UK. These improvements have reduced costs, transit times, and opened up new opportunities for businesses in both countries.