Private sector pleased to see diversification signal in President Ali’s five-year agenda
Head of the Private Sector Commission (PSC), Gerald Gouveia Jr, says President Dr Irfaan Ali’s outline of his government’s economic and social agenda for the next five years sent a clear signal that economic diversification, not oil and gas dominance, is at the centre of the administration’s plans.
Speaking on Wednesday, Gouveia said the President’s address further solidified the private sector’s confidence in the country’s direction, noting in particular that oil and gas was not the main focus of the presentation. He said this reinforced the view that Guyana is not being positioned as an oil-and-gas economy, but rather as a diversified economy that happens to have oil and gas.
According to Gouveia, this approach aligns closely with long-standing calls from the private sector for diversification, collaboration and the formation of consortiums where businesses can pool resources, technology and expertise to drive national development. He said while the government’s role is to establish the framework and create the right investment climate, it is ultimately up to the private sector to seize the opportunities and do the work needed to move the country forward.
Gouveia described the President’s announcements as laying the foundation for what he termed a “land of opportunities,” adding that the private sector is both geared up and eager to take advantage of what is being created.
He also pointed to the government’s tax policies and incentives as clear indicators of its priorities, noting that they highlight strong support for sectors such as tourism, manufacturing, the creative industries, logistics, connectivity, hinterland development, as well as initiatives targeting the elderly, young people and persons with special needs.
Gouveia said these incentives not only signal government priorities but actively encourage private sector investment across a wide range of areas, including animal care, which he noted has now been made tax-free. He said this reflects a broader policy approach that seeks to ensure no Guyanese is left behind.
The PSC head said the private sector is fully committed to working alongside the government to advance this agenda, even as businesses prepare for an intense period of activity heading into 2026. He added that while this will mean a busy Christmas season, the private sector is ready to hit the ground running in the new year.
