In a significant move to bolster economic ties, Dr. Peter Ramsaroop, Chief Investment Officer and Head of the Guyana Office for Investment, addressed a high-profile business luncheon alongside Her Excellency Raquel Peña, Vice President of the Dominican Republic. The event, hosted by the Guyana-Dominican Republic Chamber of Commerce and Industry at the Hyatt Centric Santo Domingo, gathered prominent government officials, business leaders, and investors from both nations to discuss strategies for enhancing bilateral cooperation and regional prosperity.

Dr. Ramsaroop highlighted the transition from policy discussions to actionable economic initiatives, emphasizing the concrete developments in trade, energy, manufacturing, and agriculture. “This is not just about agreements on paper. We are witnessing tangible investments, new joint ventures, and expanding trade opportunities that lay the groundwork for sustained economic growth,” he stated.

Vice President Peña reiterated the strength of the partnership between Guyana and the Dominican Republic, noting its positive impact on job creation and business development. “The establishment of the Guyana Chamber of Commerce in the Dominican Republic reflects our commitment to deepening commercial, cultural, technological, and educational exchanges,” she remarked. “These initiatives are already yielding significant results, strengthening ties and enhancing the quality of life for our citizens.”

Dr. Ramsaroop pointed out the robust collaboration between the two nations in the energy sector, highlighting ongoing discussions aimed at advancing their oil and gas industries. He emphasized the potential for strategic cooperation in this critical area of development.

On the topic of food security, he underscored the importance of large-scale agricultural investments, particularly those backed by Dominican partners, in reinforcing Guyana’s reputation as the “breadbasket” of the Caribbean. A notable example mentioned was the recent joint venture between Dominican company Fersan and Guyanese firm Gaico Inc., which focuses on fertilizer production. “Through targeted investments in agriculture, we are ensuring both food security and economic stability for our nations,” he noted.

Tourism and connectivity also emerged as key focal points during the discussions. Dr. Ramsaroop emphasized the transformative effects of direct flights between Georgetown and Santo Domingo, stating, “Improved connectivity is driving increased business activity and tourism exchange, laying the foundation for greater economic integration.” Vice President Peña echoed this sentiment by highlighting that in 2023, the number of Guyanese tourists visiting the Dominican Republic had doubled, partially due to these direct air connections. Looking ahead, she announced plans for 2025 to launch multi-destination tourism packages that would further link Guyana with the Caribbean tourism flows.

Furthermore, Dr. Ramsaroop stressed the significance of education and workforce development in sustaining economic growth. He pointed to collaborative efforts between Guyanese and Dominican institutions aimed at equipping individuals with skills necessary for success in high-growth sectors such as energy, manufacturing, and tourism. He specifically mentioned an agreement between Guyana’s Ministry of Labour and the Dominican Republic’s INFOTEP training institute as a pivotal step toward developing a capable workforce.

The strengthened partnership reflects the leadership and vision of His Excellency Dr. Mohamed Irfaan Ali, President of Guyana, and His Excellency Dr. Luis Abinader, President of the Dominican Republic. Both leaders have prioritized deeper economic integration and investments that promote regional growth and create opportunities for their citizens. Their commitment to fostering a robust relationship has facilitated strategic agreements and projects that are already yielding results across various sectors.

In closing, Dr. Ramsaroop called upon stakeholders to capitalize on the investment opportunities generated by this enhanced partnership. “The policies are in place, partnerships are delivering results, and opportunities are abundant. Now is the time for swift execution to ensure that every investment translates into long-term prosperity for both our nations,” he urged.

The business luncheon underscored the commitment of both Guyana and the Dominican Republic to deepening economic ties, fostering a shared vision for growth and prosperity in the region.