GuyExpo 2023 showcases Guyana’s economic transformation, glimpse of the future – PM Phillips

GuyExpo 2023 has returned after a seven-year hiatus and will be providing opportunities to businesses in Guyana; the exposition also seeks to demonstrate the country’s incredible economic transformation as well as the country’s future, owing to the government’s strategic diversification of the economy.

This is the assertion of Prime Minister, Brigadier (Ret’d) Mark Phillips, acting in the capacity of the President at the exhibition’s opening ceremony held at the Sophia Exhibition Complex, Georgetown, Thursday evening.

Acting President, Prime Minister Brigadier (Ret’d) Mark Phillips delivering the feature address at the opening of GuyExpo 2023

According to him, the exhibition is also a celebration of the transformative changes that are sweeping the country and reshaping Guyana’s economy, which is transforming into greater services. This, he highlighted, is a sure sign of an economy that is maturing and modernising.

“After tonight’s GuyExpo has been declared open, you will all have the opportunity to visit the various booths and exhibits, you will see the evidence of an economy that has undergone a metamorphosis. Guyana’s economic trajectory isn’t just marked by rapid growth, it is characterised by a transformation, a paradigm shift is occurring within our economic structure, evident in the emergence of sectors that were not traditionally the mainstays of our economy,” the prime minister underscored.

PM Phillips said the event mirrors the changing features of the country’s economic landscape and serves a reflection of the forward-thinking spirit, which is propelling Guyana into an exciting future.

“GuyExpo is just not a reflection of where we are but a glimpse into where we are headed. Our economic trajectory is not merely about growth, but also it is about qualitative transformation,” the prime minister stated.

He further explained that the robustness of the country’s financial sector, heightened investments in tourism and hospitality and the growth of transportation, construction and logistics are reshaping the nation’s future. 

Additionally,  information and communications technology (ICT) is being expanded, as the government has identified the sector as a new growth pole in the economy.

“It is catalyzing innovation, efficiency and connectivity, ICT has become a driver of productivity, streamlining business and fostering entrepreneurship. It is opening avenues for e-commerce and digital services and has the potential to narrow geographical barriers,” he noted.

Alluding to this year’s theme for the exhibition – “Transforming Guyana Through, Investment, Innovation and Resilience”, PM Phillips said it resonates with the path of transformation envisioned for the country by the PPP/C Administration.

According to PM Phillips, GuyExpo 2023 heralds a new wave of economic opportunities for the country’s private sector, as Guyana undertakes a promising economic transformation owing to the booming oil and gas sector.

Even as the country’s economic growth is attributed to the oil and gas industry, the retired brigadier clarified that the government is investing heavily in diversifying the economy, to prevent the occurrence of the Dutch disease, which is why economic growth is expanding.

The Acting President also congratulated the Minister of Tourism, Industry and Commerce, Oneidge Walrond and her team for organising the return of the much-anticipated exposition.

GuyExpo is a partnership among the Ministry of Tourism, Industry and Commerce, GO- INVEST and the private sector that allows businesses to increase their competitiveness and efficiency and foster growth.

It is Guyana’s largest trade and investment exposition that began in 1995 and was held annually between 2004-2016 before it was discontinued by the APNU/AFC during its stint in government.

Among those present were the Minister of Tourism, Industry and Commerce, Oneidge Walrond, Minister of Agriculture, Zulfikar Mustapha, Minister within the Ministry of Housing and Water, Susan Rodrigues, Minister of Public Service, Sonia Parag, Commissioner of Police (Ag) Clifton Hicken, Chief Fire Officer (Ag) Gregory Wickham and members of the diplomatic corps among other notable officials.