Guyana’s economic transformation is entering a pivotal phase, with manufacturing and logistics emerging as the backbone of the nation’s long-term growth strategy, according to Chief Investment Officer Dr. Peter Ramsaroop. Speaking at the launch of Money Week, hosted by the University of Guyana and the Jamaica Stock Exchange, Dr. Ramsaroop underscored the urgency for Guyanese citizens and businesses to recognize and seize opportunities in these rapidly expanding sectors.
Dr. Ramsaroop highlighted that the logistics sector is on the cusp of significant expansion, driven by the country’s energy boom and major infrastructure projects. “We’re about to move into a whole new set of industries,” he noted, referencing the soon-to-be-launched Gas to Shore project and the resulting decline in energy costs. This reduction is expected to make manufacturing, including agro-processing, a major growth area for Guyana. He urged citizens to consider where they might fit in the evolving manufacturing landscape, emphasizing the importance of following national economic trends and government strategies.
The logistics industry, meanwhile, is benefiting from improved infrastructure, such as new road networks and the development of free trade and industrial zones. These advancements are positioning Guyana as a potential regional logistics hub, attracting both local and international investment. The country’s remarkable 43.6% economic growth in 2024, fueled largely by the oil sector, has sharply increased demand for efficient transportation, warehousing, and freight forwarding services. As Guyana’s exports and trade volumes rise, logistics networks are scaling up to meet the challenge, with the outlook for continued growth through 2031.
President of the Georgetown Chamber of Commerce and Industry, Kathy Smith, echoed Dr. Ramsaroop’s sentiments, stressing that financial empowerment, innovation, and inclusion are essential for sustainable national development. She called for greater financial literacy and for conversations about budgeting, saving, and investing to become commonplace in homes, schools, and communities. Smith emphasized that building generational wealth and economic stability requires a step-by-step approach, with every decision contributing to a stronger financial future.
As Guyana continues to attract attention on the global stage for its energy resources, the focus on manufacturing and logistics is expected to drive job creation, diversify the economy, and ensure the country remains competitive in the region and beyond. The message from both government and business leaders is clear: the time to invest in Guyana’s future is now, and the sectors leading the charge are manufacturing and logistics.
