The Chairman of the Private Sector Commission (PSC), Captain Gerry Gouveia Jr., says Guyana is on track for long-term transformation, not solely because of oil wealth, but because of the country’s deliberate shift toward opportunity-driven growth over handouts.
Speaking in a recent interview with The El Dorado Beacon, Gouveia praised the Ali administration’s focus on enabling people and businesses to build for themselves.
“We’re not creating a handout economy,” he said. “Yes, there are short-term support measures from time to time, but what we’re seeing is real facilitation, free education, trade courses, offshore skills training, and scholarships.”
He described the last five years as a period of “exciting transformation,” driven by government policies that have opened new doors for investment, created access to skills training, and encouraged young Guyanese to participate in the country’s growth.
While the oil and gas sector remains the driving force behind Guyana’s economic momentum, Gouveia noted that growth is also being recorded across tourism, infrastructure, agriculture, and technology.
“It’s not just oil and gas anymore. The economy is diversifying, and the private sector is adapting quickly,” he said.
He also pointed to the role of the Greater Guyana Initiative and government incentives that have enabled local businesses to expand their capacity and compete internationally.
“Our companies are now showcasing their capabilities in Suriname, bidding on major oil and gas projects. That alone shows how far we’ve come,” he said.
He cited the success story of Omni Helicopters Guyana, a homegrown aviation company that meets global oil industry standards, as proof that Guyanese enterprises can compete at the highest level.
Furthermore, Gouveia acknowledged that access to capital remains a challenge, but highlighted legislative changes that now allow movable assets to be used as collateral, a significant shift that makes it easier for small businesses to secure financing. “You no longer need land to get a loan. That’s a game-changer,” he said.
The PSC has also partnered with the Inter-American Development Bank (IDB) to establish a small business development desk, providing entrepreneurs with free guidance on preparing bankable business plans and conducting financial feasibility studies.
“There’s a gap sometimes between having a good idea and being able to finance it. That’s where we come in,” Gouveia said. He added that in the coming weeks, the PSC plans to launch new grant programmes to support small and medium-sized enterprises (SMEs).
Meanwhile, he welcomed the efforts to modernise systems and embrace digital transformation. He said that young people are increasingly being trained in technology, coding, and STEM-related careers, many of which feed into the aviation, engineering, and offshore services that are now in demand.
“Guyana is training its own underwater drone pilots and engineers. That’s the future we’re building,” Gouveia said. He also praised the Local Content Secretariat and its efforts to link major businesses directly with local suppliers and farmers.
While Guyana prepares for general elections in 2025, Gouveia encouraged young people to stay engaged and take advantage of the opportunities around them.
“The PSC is here to help. We offer free advice and support. If you want to start something, we can help you figure out how,” he said.
The PSC Chairman said he remains “very optimistic” about the country’s direction. “I believe we are about to witness one of the greatest transformations in our history. But it’s not just about oil, it’s about what we do with it.”
