‘Don’t come looking for gov’t contracts, money is in the private sector’ – Investors told at Energy Conference

Guyana, the region’s economic powerhouse with its new found oil wealth, is open to investment across local sectors and an open invitation was once again offered to investors from all over the world on Wednesday.

Speaking during day three of the 2024 Guyana Energy Conference and Supply Chain Expo, Chief Investment Officer and Agency Head for the Guyana Office for Investment (Go-Invest) Dr Peter Ramsaroop said investors should not only look to the government for contracts but seek out opportunities in the private sector.

“Don’t walk around asking where to invest and don’t tell us you have $1 billion to invest.

“… Do your research, we are open for business but there is no need to see a government minister. Get a good lawyer and set up your business,” Dr Ramsaroop said.

But even in the absence of research, Dr. Ramsaroop said the openings in the private sector are endless.

“Don’t just come looking for government contracts, money is in the private sector.

“Our private sector has stepped up,” he added, noting that just about 60 per cent of all investments last year were from local investors.

But he had another piece of advice for foreign investors.

“Don’t come trying to do it on your own… local content is real,” he said while pointing to the interconnected investment opportunities in all sectors.

He outlined during his presentation the support those investors can receive from Go-Invest.

“We will work to ensure you have ease of doing business and we will continue to welcome all of you to be part of Guyana’s development.

“Invest in what you know or what you are interested in… if you are waiting for the next phase then you are already too late,” Dr Ramsaroop added.