Attorney General and Minister of Legal Affairs Anil Nandlall says the government is undertaking a comprehensive review of Guyana’s Companies Act, citing the rapid expansion of the country’s commercial sector and record levels of new business activity.
Speaking on his Issues in the News programme, Nandlall said the review is being driven by what he described as an “explosion” in economic and commercial activity, highlighted repeatedly by President Dr Mohamed Irfaan Ali during recent business openings.
“The President spoke at length… about the buoyancy and vibrancy of the economy. Our economy is expanding massively, and our commercial sector is expanding massively,” Nandlall said.
He pointed to statistics from the Deeds and Commercial Registry Authority, noting that in 2025 alone, 36,251 new business names were registered.
“That is over 3,021 new businesses registered per month… 755 businesses per week… 151 businesses per day,” he said, adding that “19 businesses are registered every hour in an eight-hour working day.”
Nandlall also disclosed that 1,516 limited liability companies were incorporated in 2025, averaging “126 companies per month” and “almost a company every hour.”
“These are amazing statistics. These statistics demonstrate the confidence that people have in the economy of our country, Guyanese have, and local and foreign investors have,” he said.
Against that backdrop, Nandlall said legislative reform is now necessary.
“Our Companies Act… was enacted in 1991. That’s 35 years old. We are reviewing it comprehensively,” he stated, adding that “35 years ago, the Guyana corporate sector was radically different than it is now.”
Attorney General and Minister of Legal Affairs Anil Nandlall says the government is undertaking a comprehensive review of Guyana’s Companies Act, citing the rapid expansion of the country’s commercial sector and record levels of new business activity.
Speaking on his Issues in the News programme, Nandlall said the review is being driven by what he described as an “explosion” in economic and commercial activity, highlighted repeatedly by President Dr Mohamed Irfaan Ali during recent business openings.
“The President spoke at length… about the buoyancy and vibrancy of the economy. Our economy is expanding massively, and our commercial sector is expanding massively,” Nandlall said.
He pointed to statistics from the Deeds and Commercial Registry Authority, noting that in 2025 alone, 36,251 new business names were registered.
“That is over 3,021 new businesses registered per month… 755 businesses per week… 151 businesses per day,” he said, adding that “19 businesses are registered every hour in an eight-hour working day.”
Nandlall also disclosed that 1,516 limited liability companies were incorporated in 2025, averaging “126 companies per month” and “almost a company every hour.”
“These are amazing statistics. These statistics demonstrate the confidence that people have in the economy of our country, Guyanese have, and local and foreign investors have,” he said.
Against that backdrop, Nandlall said legislative reform is now necessary.
“Our Companies Act… was enacted in 1991. That’s 35 years old. We are reviewing it comprehensively,” he stated, adding that “35 years ago, the Guyana corporate sector was radically different than it is now.”
