A major player in Guyana’s gold industry has committed to setting aside shares for Guyanese individuals and businesses when the country’s proposed junior stock exchange becomes operational, President Dr Mohamed Irfaan Ali has announced.
Speaking at the Local Content Summit Networking Reception at the Four Points by Sheraton, the President said the commitment underscores the importance of establishing the exchange, which is expected to create new investment opportunities for citizens.
According to President Ali, the initiative will allow broader participation by Guyanese in large-scale projects and forms part of the government’s efforts to expand local content beyond the oil and gas sector.
He disclosed that the Ministry of Natural Resources has been directed to review the local content framework, noting that there has been growing interest in increasing local participation in sectors such as financial services and insurance.
“The coming weeks will be very exciting for local content and local participation in large-scale transformative projects,” the President said.
The proposed junior stock exchange is among several mechanisms being pursued to increase local investment opportunities.
Another such mechanism the President pointed to is the Guyana Development Bank legislation, which has already been tabled in the National Assembly, and a planned diaspora bond that will offer fixed returns while helping to finance major infrastructure projects.
