Guyanese to tap into wealth creation opportunities through national co-investments – President Ali

Guyanese will be able to tap into more economic opportunities like co-investing in national projects, as part of the government’s commitment to achieving shared prosperity.

President Dr Mohamed Irfaan Ali announced the plan during a public meeting at Canal No. 2 Polder on the West Bank of Demerara in Region Three on Sunday.

This wealth creation model has the potential to transform the nation’s economic landscape and ensure all Guyanese benefit from the country’s progress. 

President Ali told the residents that the investment opportunities would cater to small, medium, and large-scale initiatives and generate higher returns for the ordinary Guyanese.

“That is a big task before us. The next five years is to build and create these opportunities that will generate wealth at the individual, household, community, region, and national levels,” he stated.

One such project, President Ali noted, is the fertiliser factory that will be established in Region Three and everybody will have a chance to invest.

The national gas company which is expected to be formed later is another investment vehicle that will allow Guyanese to tap into Guyana’s booming economy.  

These efforts will be supported by increased grants and widespread financial literacy campaigns to promote responsible investment.

Incentivising informal workers

The government has increased the maximum National Insurance Scheme (NIS) pension, with the highest contributor receiving approximately $160,000 monthly.

However, the president highlighted that many informal and self-employed workers like farmers, drivers, and seasonal labourers are not registered with the NIS and cannot access pensions when they retire.

He said a national plan will be implemented over the next five years to incentivise the registration of these categories of workers.

“We are going to find an avenue to help you to get on the system. That is what we are about. We have to create an enabling environment [for] you to get on to the system,” the president stated.

He further outlined his vision for a modern, inclusive, and prosperous Guyana, which he said would focus on world-class education, agriculture, infrastructure, healthcare, and digital services.

“Our message is filled with substance. We are not here for seasonal promises, we are here to build a future where every citizen can thrive,” President Ali said.

He was accompanied by Minister of Housing and Water, Colin Croal; Minister of Education, Priya Manickchand, Minister within the Ministry of Public Works, Deodat Indar and former PNC/R Central Committee Executive, Thandi McAllister.