Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni Singh, highlighted Guyana’s vast investment opportunities during his presentation at the Guyana Energy Conference and Supply Chain Expo 2025, which took place at the Guyana Marriott Hotel. He emphasized the government’s ongoing policies to build a diversified, resilient, globally competitive, and attractive business economy.
Dr. Singh reassured investors that Guyana, under the current administration, remains a stable and well-managed economy with a long-standing record of responsible financial governance. He urged investors to seize the opportunities available, emphasizing that Guyana is not only a lucrative destination for business but also one that upholds sound economic management and responsible governance.
Recalling the People’s Progressive Party/Civic’s (PPP/C’s) previous tenure in office, he pointed out that the government successfully reduced the country’s debt-to-GDP ratio from over 600 percent in 1991 to 38 percent in 2014. With the PPP/C back in power, this ratio declined to 24 percent in 2024, making it the second lowest in the Western Hemisphere.
Dr. Singh stressed that the government is laying the foundation for a strong and competitive non-oil economy even as the oil industry continues to grow.
“We are not waiting for the twilight hours of our oil economy whenever that happens. We are doing that today!” he stated.
He outlined Guyana’s impressive non-oil economic growth, noting that between 2021 and 2024, the non-oil economy expanded at an average rate of 10.3 percent. Key sectors contributing to this growth include services, agriculture, forestry and fishing, construction and infrastructure, housing, and mining.
Since the PPP/C returned to office in August 2020, the government has implemented a strategic economic agenda to ensure diversification and long-term sustainability beyond the oil sector. As a result, Guyana has become one of the fastest-growing economies in the world.
Dr. Singh also highlighted a significant milestone in economic governance: the first transfer of oil revenues to the Consolidated Fund in 2022, following the passage of the Natural Resource Fund (NRF) Act.
“We took a position that we will not use a single dollar of our oil revenue until we put a strong NRF Act in place. We did that in December 2021,” he reminded.
He further explained that the government maintains a balanced approach to economic management by allocating resources to address immediate needs, investing in critical infrastructure, and expanding social programs to benefit the population.