President Ali urges stronger Guyana-Canada partnerships as investment opportunities expand

President Irfaan Ali on Friday called for a reset in Guyana-Canada economic relations, urging Canadian investors and policymakers to move more aggressively to capitalise on opportunities in Guyana’s rapidly expanding economy.

Addressing participants at the Guyana-Canada Business Forum, the president said Guyana no longer has to convince the world of its potential, noting that the country has consistently “punched above its weight” even before the emergence of the oil and gas sector.

He pointed to Guyana’s leadership in climate policy, renewable energy advocacy, agriculture and mining, while highlighting the country’s growing role in global energy security.

“Today, we don’t have to spend much time introducing Guyana,” President Ali stated, before he said, “The fact that you invested your own resources to be at this forum tells me that you’ve already done your homework and are ready to look at the opportunities.”

The head of state reflected on Canada’s historic role in Guyana’s development, including support for democratic governance, institutional strengthening, electoral reforms and human capital development.

However, he expressed concern that Canada, once Guyana’s largest trading partner, has not evolved quickly enough to match the scale of opportunities now emerging in the country.

“Canada was our largest trading partner. This forum allows us to reflect on whether we have done enough to respond to the changing opportunities and the new economy of Guyana,” he said.

President Ali identified several sectors where Canadian expertise could play a major role, including hydroelectricity, smart grids, transmission systems, pharmaceutical manufacturing, agro-processing, tourism, manufacturing and data centres.

He noted that despite Canada’s global reputation in hydroelectricity and energy systems, no Canadian firms responded to recent expressions of interest for Guyana’s second major power plant project.

“You have enormous experience. You have tremendous liquidity waiting to be deployed. Yet, in all of the expressions of interest, you can’t find one Canadian firm,” the president said.

The president emphasised that Guyana’s development strategy is centred on balanced partnerships that include local private sector participation and technology transfer.

“We have advanced the stage in our development where we don’t want a one-sided relationship. We want a balanced relationship. We want our local private sector to grow, own things, be profitable and make money,” he stressed.

Highlighting the country’s economic momentum, President Ali disclosed that foreign direct investment in Guyana has surged to approximately 35 per cent of GDP, describing it as a clear sign of investor confidence in the country’s political stability and economic trajectory.

“That tells you about global confidence, investors’ confidence, confidence in the political system, confidence in the government and confidence in the economy,” he said.

“There are opportunities across all industries,” he said, stating, “You have to come down, be part of the ecosystem we are building.”

The president also reiterated Guyana’s commitment to becoming a global leader in energy, food and climate security, while maintaining one of the world’s lowest deforestation rates and advancing biodiversity initiatives.