Attorney General and Minister of Legal Affairs Mohabir Anil Nandlall, SC, has reported a significant surge in business activity in Guyana, with 36,251 new businesses registered and 1,516 companies incorporated last year, according to data from the Deeds and Commercial Registry.
Speaking during his weekly programme “Issues in the News” on Tuesday, AG Nandlall said the figures clearly demonstrate the growing confidence of local and foreign investors in Guyana’s economy, attributing the trend to the government’s stable economic policies and pro-business agenda.
He explained that it is against this backdrop of rapid economic expansion that the government is moving to modernise the country’s corporate framework, noting that the Companies Act of 1991 is currently undergoing a comprehensive review to ensure it is aligned with Guyana’s evolving economic landscape and international best practices.
The People’s Progressive Party Civic (PPP/C) Government has created various avenues for businesses to flourish in recent times. These include major investments in infrastructure, housing, energy, healthcare, education and public works.
These projects have opened up opportunities for contractors, suppliers and service providers across multiple sectors.
Government-led projects have also created transparent bidding opportunities, allowing Guyanese businesses, large and small, to compete for contracts through established procurement systems.
These projects translate into jobs, livelihoods and growth for Guyanese families, and the scale of development which is underway will significantly increase employment opportunities nationwide.
Moreover, the government’s strong push for training and certification through programmes such as the Board of Industrial Training (BIT) and the Women’s Innovation and Investment Network (WIIN) also opens meaningful and lucrative opportunities for prosperity.
These initiatives are equipping Guyanese with the technical and professional skills needed to participate meaningfully in the country’s expanding economy.
“With all the projects and contracts that are coming on stream, the question is, who will do them?” the minister asked. “The answer is you, the Guyanese people.”
He reaffirmed the government’s commitment to ensuring that citizens are not only beneficiaries of development but also active participants in building the nation’s future.