PRESIDENT Dr Mohamed Irfaan Ali has declared that Guyana’s economic achievements must ultimately be measured by its ability to build a diversified and resilient economy capable of withstanding international disruptions, rather than relying solely on rising revenues or impressive economic growth figures.
The Head of State made the observation on Thursday evening while delivering the feature address at the official opening of GuyExpo 2026, held at the National Exhibition Centre in Sophia, Greater Georgetown.
President Ali argued that the country’s real economic progress would depend on how effectively it broadens its productive base, develops new industries and reduces its vulnerability to external economic pressures.
“The test of our success will not be in the revenue we’re able to generate,” he said, adding that economic growth alone would not determine whether Guyana had achieved sustainable development. Instead, he emphasised the importance of expanding the country’s economic foundation and creating greater opportunities across multiple sectors.
The President also highlighted growing international interest in Guyana beyond the petroleum industry, revealing that an investment group with a portfolio exceeding US$10 billion, including approximately US$5 billion in pre-approved investments, had arrived in the country.
According to Ali, the group is assessing potential opportunities in agriculture, infrastructure, housing, tourism and logistics, signalling the expanding range of investment possibilities emerging within Guyana’s economy.
He maintained that the government’s investment framework is built around predictable policies, clearly established priorities and well-defined incentives, allowing domestic and international investors to identify opportunities and make informed decisions.
To reinforce his assessment of the economy, President Ali referenced the International Monetary Fund’s 2026 Article IV report, which recorded real GDP growth of more than 19 per cent in 2025. The report also highlighted expansion across several non-oil sectors, including construction, services and information and communications technology.
The President further pointed to improvements in the labour market, noting that employment increased by nearly 60 per cent between 2020 and 2025, while the unemployment rate declined from 12.8 per cent to 6.2 per cent.
“This is not guesswork. This is not cherry-picking,” he declared, describing the figures as evidence of the broader economic transformation taking place.
Beyond attracting international capital, Ali said the administration is focused on strengthening the capacity of Guyanese entrepreneurs and businesses to participate more meaningfully in the country’s development. This includes creating opportunities for local companies to expand, generate employment and establish themselves as competitive players in regional and international markets.
He also outlined an ambition for local contractors and businesses to work alongside foreign contractors and international oil and gas companies, eventually positioning themselves to pursue projects outside Guyana within the next three years.
The President’s remarks placed particular emphasis on ensuring that economic expansion translates into stronger domestic business ownership, greater private-sector participation and a wider range of employment opportunities for Guyanese.
GuyExpo 2026, one of the country’s longest-running trade and investment exhibitions, is being held under the theme “Creating Tomorrow’s Opportunities Through Today’s Investments.”
The exhibition features more than 317 booths, bringing together businesses, entrepreneurs, investors and other stakeholders to showcase products, services and investment opportunities across different sectors of the economy.