By Josiah Williams
Finance Minister Dr. Ashni Singh has emphasized the importance of investing in long-term projects that can yield profits over the medium and long term, speaking at the Guyana Energy Conference and Supply Chain Expo.
Addressing attendees on the third day of the conference, Dr. Singh highlighted Guyana’s robust economy, noting that both its oil and non-oil sectors offer favorable investment opportunities that will endure well into the future.
Over the past few years, Guyana’s economy has experienced significant growth, with its GDP more than tripling to nearly 4 trillion dollars.
Dr. Singh pointed out that the country has been recording real economic growth averaging over 30% annually, with projections indicating an average growth rate of about 20% over the next four years.
Dr. Singh underscored the confidence investors should have in Guyana’s long-term economic growth, especially with the country’s increasing oil production.
Currently producing 645,000 barrels per day, Guyana is estimated to reach 1.2 million barrels per day by 2027.
In addition to the oil and gas sector, Dr. Singh encouraged investors to explore opportunities in sectors such as agriculture, health, education, tourism, and training development, emphasizing their potential for high profitability.
Highlighting Guyana’s fiscal strength, Dr. Singh noted that the country boasts the second lowest debt-to-GDP ratio in the Western Hemisphere.
He assured that the government has implemented robust fiscal policies to ensure that revenues from oil, gas, and other industries remain within the country and benefit its people.
As Guyana continues to position itself as an attractive investment destination, Dr. Singh’s remarks serve as a call to action for both international and regional investors to capitalize on the country’s long-term economic potential.