The American Chamber of Commerce (AmCham) Guyana is calling on the Government to pursue a bilateral tax treaty with the United States, saying such an agreement would strengthen investor confidence and further cement economic relations between the two countries.
Speaking on the Energy Perspectives podcast, Executive Director Richard Leo said Guyana has made significant progress in attracting American investment but should continue implementing reforms that make the country an even more competitive destination for international business.
Leo said Guyana has succeeded in attracting and maintaining the interest of American companies by fostering a climate of confidence and shared prosperity.
“We’ve done well on attracting and maintaining interest and inspiring confidence in American firms through… delivering on shared prosperity and seeing American firms win key contracts,” he said.
However, he believes additional policy measures are needed to strengthen the country’s investment climate and encourage sustained long-term investment.
Among the priorities he identified were modernising public procurement, streamlining permitting processes and negotiating a bilateral tax treaty with the United States.
Leo stated, “Looking at improving things like modernizing public procurement, which is already actively being done… looking at how permitting and some of these things need to be done in a more holistic manner, but also looking at things in the future like having a bilateral tax treaty. Those are all things which I believe would complement and grow or inspire confidence.”
A bilateral tax treaty is an agreement between two countries designed to prevent the same income from being taxed twice, provide greater certainty for businesses operating across borders and encourage cross-border trade and investment.
Leo also highlighted two other reforms frequently raised by international investors—developing a sovereign yield curve through the issuance of longer-term government bonds and securing a sovereign credit rating.
“I’ve heard from many international investors… Guyana potentially having a yield curve… issuing bonds more than from one year to three to five years, as well as having a credit rating, which continues to be an ask from several international banks,” he said.
A yield curve is a measure of the interest rates a government pays when borrowing money over different periods, such as one, three or five years, and is widely used by investors to assess borrowing costs and market conditions.
A sovereign credit rating is an independent assessment of a country’s ability to repay its debts, helping investors gauge financial risk before investing.
The AmCham executive made the comments while discussing ways to strengthen Guyana-U.S. business ties amid the country’s continued economic expansion.
According to Leo, AmCham Guyana serves as a bridge between the two countries by facilitating market entry, promoting trade and investment, advocating on behalf of American companies and helping local businesses build the capacity needed to partner with U.S. firms.
He explained, “We serve as a bridge between the U.S. and Guyana. So, think of market entry or market development, trade facilitation or investment promotion.”
Leo noted that AmCham, which celebrates its eighth anniversary this month, has witnessed a significant increase in international interest in Guyana as the country’s economy continues to expand.
He said maintaining strong relationships with American businesses while preparing Guyanese companies to take advantage of new commercial opportunities remains one of the organisation’s key priorities.
AMCHAM Guyana is a voluntary, non-profit organization founded in 2018 to build and expand commercial ties between the United States and Guyana.
It represents local and U.S. businesses, advocates for digital technology and e-commerce, and hosts key industry events like HSSE (Health, Safety, Security, and Environment) conferences.
