Guyana holds immense potential for further US investment – Ambassador Theriot
Guyana is rapidly becoming a prime destination for international investors, with over 3,000 U.S. small and medium enterprises (SMEs) exporting to the country in 2023.
United Stated (US) Ambassador to Guyana, Nicole Theriot, highlighted the nation’s growing investment appeal at the Inaugural International Business Conference on Tuesday.
Beyond the lucrative oil and gas industry, Guyana offers significant opportunities in non-oil sectors, including hospitality, security, and tourism.
The favourable investment environment in Guyana is attributed to the government’s efforts to strengthen the economy and develop key sectors such as gas-to-energy, healthcare, education, and infrastructure.
Ambassador Theriot underscored the impact of U.S. SMEs on Guyana’s economic growth, stating, “It’s not just our large Fortune 500 companies that are making an impact. Small and medium enterprises trading with each other is arguably even more important for long-term diverse economic growth.”
Over the last four years, Guyana has seen approximately US$14.5 billion in US foreign investments, representing 96% of the country’s foreign direct investment (FDI) rates.
The ambassador expressed confidence in Guyana’s potential to become a leading exporter in the Caribbean region
“As Guyanese companies diversify and hone their offerings, I know many more of them will begin to export to the United States,” she said.
For the first half of 2024, Guyana recorded a substantial US$4,163.1 million increase in export receipts, with further growth expected by the end of the year.
In addition to economic investments, the US has significantly invested in Guyana’s human resources and security.
Recently, the government signed a US$16 million contract to acquire two advanced rotary wing aircrafts and the United States deployed flight instructors to support the work of Guyana’s air core.
A US trade delegation is also scheduled to visit Guyana in the coming week.
