Guyana and the Dominican Republic Deepen Economic Ties as Chief Investment Officer and Agency Head of the Guyana Office for Investment, Dr. Peter Ramsaroop Highlights Strengthened Bilateral Cooperation

Guyana’s Chief Investment Officer and Head of the Guyana Office for Investment, Dr. Peter Ramsaroop, today delivered a compelling address alongside Her Excellency Raquel Peña, Vice President of the Dominican Republic, at a high-level business luncheon hosted by the Guyana-Dominican Republic Chamber of Commerce and Industry. The event, held at the Hyatt Centric Santo Domingo, brought together key government officials, business leaders, and investors from both nations to discuss strategies for deepening economic collaboration and enhancing regional prosperity.

Dr. Ramsaroop emphasized that Guyana and the Dominican Republic have moved beyond policy discussions to real economic action, pointing to major developments in trade, energy, manufacturing, and agriculture. “This is not just about agreements on paper. We are seeing tangible investment, new joint ventures, and expanding trade opportunities that are setting the foundation for sustained economic growth,” he stated.

Vice President of the Dominican Republic, Her Excellency Raquel Peña, reinforced the strength of the relationship, highlighting its growing impact on business and job creation. “The establishment of the Guyana Chamber of Commerce in the Dominican Republic reflects a clear purpose: to deepen commercial, cultural, technological, and educational exchanges,” she said. “These efforts are already producing tangible results strengthening ties, increasing investment, generating employment, and improving the quality of life for our people.”

Dr. Ramsaroop highlighted the strong collaboration between Guyana and the Dominican Republic in the energy sector, noting that both nations are actively advancing their oil and gas industries. He highlighted ongoing discussions on future developments, underscoring the opportunities for strategic cooperation in the sector.

On food security, he underscored the significance of large scale agricultural investments, backed by Dominican partners, in strengthening Guyana’s role as the “breadbasket” of the Caribbean. He pointed to the February 18 joint venture between Dominican company Fersan and Guyanese firm Gaico Inc., focused on fertilizer production, as a prime example of the economic benefits already materializing. “Through targeted investments in agriculture, we are ensuring not only food security but also economic security for our nations,” he said.

Tourism and connectivity were also key discussion points, with Dr. Ramsaroop emphasizing the transformative impact of direct flights between Georgetown and Santo Domingo. “With improved connectivity, we are seeing increased business activity and tourism exchange, laying the groundwork for even greater economic integration,” he stated.

Vice President Peña echoed this sentiment, noting, “In 2023, the number of Guyanese tourists visiting the Dominican Republic doubled, in part due to direct air connectivity. In 2025, we will launch multi destination packages that invite Guyana to participate in Caribbean tourism flows connecting with the over 11 million visitors who come to the Dominican Republic each year.”

Dr. Ramsaroop further emphasized the role of education and workforce development in sustaining economic growth, pointing to ongoing collaborations between Guyanese and Dominican institutions. “Our vision for economic expansion is tied to human capital development. Through strategic training programs and partnerships, we are equipping our people with the skills required to thrive in high growth sectors such as energy, manufacturing, and tourism,” he said. He highlighted the agreement between the Dominican Republic’s INFOTEP training institute and Guyana’s Ministry of Labour as a key step in building a workforce that can meet the demands of evolving industries.

The strengthened partnership between Guyana and the Dominican Republic is a direct result of the leadership and vision of His Excellency Dr. Mohamed Irfaan Ali, President of the Co-operative Republic of Guyana, and His Excellency Dr. Luis Abinader, President of the Dominican Republic. Both leaders have championed deeper economic integration, prioritizing investments that drive regional growth and create opportunities for their citizens. Their commitment to fostering a robust, mutually beneficial relationship has paved the way for strategic agreements and tangible projects that are now yielding results across multiple sectors.

Dr. Ramsaroop closed with a call to action, urging stakeholders to seize the investment opportunities created by the strengthened partnership. “The policies are in place, the partnerships are delivering, and the opportunities are limitless. Now is the time to execute with speed and precision to ensure that every investment translates into long term prosperity for both our nations,” he stated.

The business luncheon reinforced the commitment of Guyana and the Dominican Republic to deepening economic ties and fostering a shared vision for regional growth and prosperity.