President Irfaan Ali on Friday said foreign direct investment in Guyana has surged to approximately 35 per cent of the country’s Gross Domestic Product (GDP), describing it as a powerful indicator of growing global confidence in the country’s economy and governance.
Speaking at the Guyana-Canada Business Forum, the president said the scale of investment flowing into Guyana reflects confidence not only in the economy, but also in the country’s political stability and development trajectory.
“Foreign direct investment has surged to levels estimated at approximately 35 per cent of GDP. That is no ordinary number,” President Ali stated.
“That tells you about global confidence, investors’ confidence, confidence in the political system, confidence in the government, confidence in the economy and confidence that in the risks they are taking to invest, they believe that they can be successful.”
The head of state said Guyana has moved beyond the stage of having to introduce itself to international investors, noting that the country is now recognised globally for its economic transformation and strategic opportunities.
He highlighted Guyana’s leadership in climate policy, biodiversity, agriculture and renewable energy advocacy long before the emergence of the oil and gas sector.
According to President Ali, Guyana is now positioning itself for the next phase of development through diversification into sectors such as healthcare, education, tourism, agro-processing, manufacturing, artificial intelligence and data centres.
“We are building out the most modern healthcare system in the world, the most modern education system in the world, not only for Guyanese, but as an economic component of the diversification of our economy,” he said.
The president noted that Guyana is aggressively embracing AI and digitisation, integrating technology into healthcare, immigration, public services and national planning systems.
“We have embraced AI as a development partner of the future,” he stated.
President Ali urged Canada to get more involved in Guyana’s development, noting that while Canada used to be Guyana’s biggest trading partner, Canadian companies haven’t acted fast enough to take advantage of new opportunities.
He identified hydroelectricity, smart grids, pharmaceutical manufacturing, agriculture, tourism and manufacturing among the sectors offering major opportunities for Canadian investment.
The president further stressed that Guyana’s development model is aimed at creating prosperity for all Guyanese through policies that encourage private sector expansion and entrepreneurship.
“The government’s only role is to create the environment through systems and policies. The role of business, making money, development and growth is the role of the private sector,” he said.