-by Celestine Chacon

Guyana’s rapid economic expansion extends far beyond the oil and gas sector, with the country’s Local Content Legislation creating opportunities in agriculture, housing, transportation, healthcare and other industries.

This was underscored by Minister of Natural Resources, Vickram Bharrat, during his address at the 2026 Local Content Summit being held at the Four Points by Sheraton Hotel, Georgetown.

During the opening session earlier today, Minister Bharrat highlighted that the local content legislation mandates oil and gas operators and contractors to source a significant share of goods and services locally, thereby generating direct economic opportunities for Guyanese businesses and employees.

“So 75 percent of the food consumed, let’s just use offshore for an example, must be produced in Guyana. And that is a direct, a translated direct opportunities for our farmers, whether they’re in Blackbush, Polder or Hubu backdam or wherever they’re cultivating their crops. They now have an opportunity to expand their farm from one acre to 10 acres, from two acres to 20 acres, because the market is being provided for them,” he said.

Bharrat emphasised that the housing sector has seen substantial expansion, fueled by increased demand for accommodation from expatriate workers, investors, and business travellers.

He pointed to the growing number of apartment complexes and rental properties being developed in and around Georgetown. According to the minister, this significant growth, is a result of effective leadership and local content measures that are ensuring the benefits are felt across multiple sectors.

“Leadership and good management has propelled Guyana to being the fastest growing economy in the world. Yes, oil would have helped, but we are also on the map because of our environmental credentials too,” he said.

Bharrat also urged international partners to share Guyana’s development story, highlighting the country’s balance of economic growth, environmental protection and sustainable development.