Invest Guyana 2022/2023. 9th Edition by AMS Guyana

GOINVEST.GOV.GY Invest Guyana 2022/23 | 1 HAITI SantiagodeCuba Kingston MontegoBay Havana Nassau THEJAMAICACUBABAHAMAS TortolaHaitienCap Barbados Port of Spain Georgetown Dominica Antigua St Maarten St Kitts JuanSanDomingoSantoSantiagoPuertoPlata PuntaCanaPort-au Prince ProvidencialesSouthCaicosGrandTurkSaltCay TURKS AND ISLANDSCAICOSDOMINICAN REPUBLIC PUERTO RICO BRITISHISLANDSVIRGIN(BVI)TRINIDAD AND TOBAGOGUYANA N Key Reference: Existing Routes Seasonal Routes Planned Routes Flight Route CONNECTINGMap GUYANA AND THE CARIBBEAN interCaribbeanAirways THE TURKS AND CAICOS ISLANDS . THE BAHAMAS . CUBA . JAMAICA . HAITI . PUERTO RICO . BARBADOS . GUYANA . GRENADA DOMINICAN REPUBLIC . BRITISH VIRGIN ISLANDS . SINT MAARTEN . ANTIGUA . DOMINICA . ST LUCIA . ST VINCENT AND THE GRENADINES Call us | Email us | Visit our Sales Ofﬁce at Giftland Mall, 2nd level, Georgetown, Guyana

Learn more at: excelguyana.com Corporate Formation & Governance Recruitment Process Outsourcing 30 Years of Building Businesses in Guyana and CARICOM Creating Opportunities Building Partnerships. Connecting People Aligning Resources OUR SERVICES Some of Our

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and Agencies 144 Private

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An Overview of Guyana's Local Content Law 40 Guyana Looking to an Economy Beyond Oil – Private Sector Commission 44 Guyana is the UK’s Largest Trading Partner in the Caribbean 50 President Ali Calls on UK, EU Investors to Aggressively Pursue Opportunities in Guyana 51 Guyana to house first World Trade Center in CARICOM 53 A Focus on Capacity Building for Economic Inclusion 56 About Guyana 61 Map of Guyana 62 Investment and Export Procedures 65 Invest in Agriculture 68

Kathryn Duncan Contributing Photography: Wesley Kirton, GYSBI, Guyana Office for Investment, Department of Public Information (DPI), Office of the President, Office of the Vice President, Office of the Prime Minister, Ministry of Agriculture, Ministry of Tourism, Bank of Guyana, LCDS 2030 Secretariat, Guyana Online Academy of Learning, Guyana Tourism Authority, Private Sector Commission

Guyana’s Economy on Course to Double in Size in 2022-2023 - World Bank Report 28

Assuria: Celebrating 10 Years of Success... 121 Connecting Communities through Mega Infrastructure 124 Invest in Tourism 128 New Hotels Coming to Guyana 131 Guyana Beckons! Visit for the Adventure, Explore the Investment Opportunities 132 Tourism Partnerships and Investment Opportunities 134 Invest 55 136 Doing Business in Guyana 138 Government Offices Sector Contributors: Lokesh Singh – Editor and Publisher Devina Samaroo, Khalil Alli, Wesley Kirton, Dr Peter Ramsaroop, Guyana Office for Investment,GYSBI, Demerara Waves, Department of Public Information (DPI), Office of the President, Office of the Vice President, Office of the Prime Minister, Ministry of Agriculture, Ministry of Finance, Ministry of Housing & Water, Ministry of Tourism, Bank of Guyana, World Bank, LCDS 2030 Secretariat, Guyana Online Academy of Learning, Guyana Rice Development Board, Guyana Tourism Authority, Guyana Manufacturing & Services Association, Private Sector Commission

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Investments for a Secured Future We Welcome your Investment. Guyana is Open for Business 16

GUYANA PARADISEINVESTOR- INVEST GUYANA is published annually by: Advertising & Marketing Services P.O. Box 101582, Georgetown, Guyana. Tel: (592) 225-5384; (758) 484-6168 Email: Website:lokesh@amscaribbean.comwww.investguyana.net

Agencies 146 Guyana Embassies / Overseas Missions 147 Advertisers Index 150 Editorial

Connecting Guyana and Guyanese with the World and Opportunities Through ICT 20 Guyana – Offering Golden Opportunities for Transformational Investments whilst Saving the Planet 23 Export Earnings Surpass US$1.3B in First Quarter 2022 27

Review of the Guyana Budget 2022 31

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INVEST GUYANA is a project of Advertising & Marketing Services (AMS) in association with the Guyana Office for Investment (Go-Invest) and the Government AMS Management wishes to express its sincere thanks and appreciation to Dr Peter Ramsaroop - CEO of Go-Invest and his staff and the entire AMS Team for their support in making this publication a reality.

Advertising Sales: Lokesh Singh T: (758) 484-6168 | E: lokesh@amscaribbean.com

SPECIAL FEATURE: The Business of Agriculture 73 Invest in Energy 94 Pioneers in Oil and Gas – GYSBI: How a Multi-Million-Dollar Risk Opened the Door for Others 96 Invest in Forestry 99 Invest in ICT 101 E-Networks: Propelling Change in the Telecommunications Sector 106 Invest in Manufacturing 108 A New Vision for Manufacturing With National Branding and Certification 111 Invest in Mining 113 Invest in Services 117

For Further Information on Investing in Guyana Contact: Guyana Office for Investment (Go-Invest) 190 Church & Camp Streets, Georgetown, Guyana. Tel: 592 225 0658 / 227 0653 Fax: 592 225 0655 Email: Website:goinvest@goinvest.gov.gywww.goinvest.gov.gy

A significant number have entered into Joint Ventures with Guyanese companies and Guyana’s new Local Content Law is allowing for all Guyanese to access opportunities and benefit through Training and Investments in the Oil and Gas Investmentssector.arebeing activated apace across the country with Guyana being declared as the new investors haven of the Caribbean. Georgetown is being transformed into a modern multi story commercial center and home of many new internationally branded hotels. Agriculture is being expanded to increase production and guarantee food security for Guyana and generate increased exports to the Caribbean and other countries through a model partnership with the government of WeBarbados.wish to recognize the many international and local companies who have partnered with Guyana as highly valued Investors and Advertisers in our INVEST GUYANA MAGAZINE as we and our partner Go-Invest continue to promote Guyana as one of the ‘World’s Leading Investment Destinations’. We encourage serious investors and Guyanese nationals to explore the opportunities in a rapidly developing and changing Guyana where ‘The Future is Now’. We trust that the pages of this our ninth edition of the INVEST GUYANA Magazine will be helpful in guiding you to do business in the country. Be sure to visit the offices of the Guyana Office for Investment for professional guidance and support. We wish you every success with your new business ventures in Guyana. Lokesh Singh Publisher / Managing Director Advertising & Marketing Services E: lokesh@amscaribbean.com

President on record, Dr Mohamed Irfaan Ali and his Government in two short years since being elected to office has unleashed a suite of ambitious national projects and initiatives aimed at delivering on his Party’s Manifesto and promises for the benefit of its people and transforming Guyana into a modern multi sector economy with less dependency on the Oil and Gas Sector. National Infrastructure leads the way with the construction of a number of new four lane Highways as part of the national road network expansion to link the capital city of Georgetown to the east, west and southern borders connecting all parts of the country and our neighbouring countries of Suriname and Brazil. The first phase of the Georgetown bypass Highway from Mandela Avenue to Eccles has been completed and works are in progress on a number of others. These road projects will open large areas of new lands for agriculture, housing, industry and commerce across the country allowing government to fulfil its promise to deliver 50,000 house lots during its first term in office. Two new High Span Bridges over the Demerara and Corentyne Rivers, the Gas to Shore Project at Wales, the Deep Water Harbour in Berbice and the new US$300 million Port and Shore Base at Vreed en Hoop, West Bank Demerara are the largest ever financial development projects ever undertaken in AlongGuyana.with Oil and Gas these projects have attracted Fortune 500 and other large companies from across the globe to establish a presence in Guyana.

GOINVEST.GOV.GY Invest Guyana 2022/23 | 9 EditorialG

Transformation to a Modern Economy

uyana is on course to achieve a record 47.2% GDP growth rate for the 2022 year fuelled by its rapidly expanding Oil and Gas sector which has pumped millions of Dollars into the country’s Treasury through earnings from Oil and significant investments in Oil and Gas support services. The expansion of the Oil and Gas sector and its demand for high standards has also challenged the government to act post haste with rapid development of the country and preparing our people to maximise on the many opportunities for investment, employment and Guyana’sdevelopment.youngest

The implementation of our President’s Vision for One Guyana includes a maturing democratic state, multi-racial, multi-ethnic, free enterprise and significant movement to a technologically advanced society. He has challenged the status quo and renewed the vision of good governance and economic advancement. President Ali’s One Guyana platform has renewed the citizens national pride, unity, sense of duty and patriotism.

Guyana’s Investment Platform is based on a democratic government, transparency and accountability and the belief in family, faith and freedom as demonstrated by our multi ethnic, multi religious society. Our free-enterprise economic framework promotes rapid and sustainable economic and social growth. Our public and private sector leaders work together in an extended vision that assures measurable objectives are successful. Guyana is the only English-speaking country located on the Northern coast of South America and is classified as a lower-middle-income country, with US$9,000 per capita income (2021), GDP of US$8.3 billion and a population of approximately 786,552 (2021 est.). Ultimately, with the projected levels of growth over the next decade, GDP is expected to increase six-fold to reach US$22.5 billion, and per capita income is expected to move from current level of US$9,000 to US$30,000 by the end of the decade – thus translating to greater prosperity for all. The structure of Guyana’s economy is relatively diverse. It comprises several productive economic sectors namely: the extractive industry which includes gold, diamond, and bauxite mining–while the other productive industries constitute the agriculture, fishing and livestock, forestry, rice, sugar, gold, manufacturing and the services sector, engineering, and Opportunitiesconstruction. for investors with a vision and a capacity to deliver are immense. Guyana is open for investments with its vast natural resources: a young, educated, and Englishspeaking population; stable and open financial markets; investment protection under the law; unrestricted repatriation of profits; duty-free access, equal treatment for local and foreign investors. The foundation of our investment framework, is investing in an education where our children become our today not just our future. President Ali has renewed Guyana’s purpose in expanding wealth into prosperity in a healthy economy. The government’s massive transformative projects are building towards a Robust Infrastructure. Guyana’s geographical location puts it in a competitive environment serving Northern Brazil and CARICOM. Government is on an aggressive agenda modernizing our health care system and promoting a healthier community. In addition, the vision of our government is to eradicate poverty by expanding the economy as a whole and creating new jobs, broader access to credit and opportunities to fulfil dreams. Through a focused approach to renewing the dream of Housing and land ownership for all with public and private initiatives to build housing and communities throughout Guyana including the hinterlands. With all of the transformation, the Government continues to lead efforts in building conservation partnerships in protecting and defending the environment

Dr. Peter Ramsaroop Chief Investment Officer and CEO of GO-Invest

Guyana - The Gateway to Opportunities Investments for a Secured Future

Where to Invest: Our National Projects: Budget 2022 has outlined an aggressive infrastructure development program totaling seventy-seven billion for roads and bridges. Of the G$76.7 billion, G$49.2 billion is allocated towards roads, while the remaining G$27.5 billion is allocated towards bridges. Hence through the timely placement of these critical transport infrastructure, we have significantly more opportunities for trade and the movement of goods through Guyana. 10 | Invest Guyana 2022/23 INVESTGUYANA.NET

OUR FUTURE HAS ARRIVED

• Reduce cost of electricity by 50% (L-R) Minister of Tourism, Industry and Commerce, Hon. Oneidge Walrond, President of Guyana, Dr. Irfaan Ali, Dr. Peter Ramsaroop and a British Business Executive in talks during the President’s visit to the UK in May 2022

Energy is the driving force behind future large scale development projects in manufacturing and agro-processing and will create many more investment opportunities in Guyana. President Ali is adamant to reduce the cost of electricity in order to further increase Guyana’s competitiveness. Investments are being made in Budget 2022 to achieve the reduction in our energy costs and electricity by 50% by the time we get to 2025. The Gas to Shore Project is projected to generate 300 MW of power, in addition to the Amaila Falls Hydropower Project when operational will contribute an estimated 165 MW to the national grid. During the period 2020 – 2022, the Government invested some G$52 billion in the energy sector, representing 9% of the 2022 national budget and 3% of GDP (2021).Guyanese representation at the Offshore Technology Conference (OTC) 2022 in Texas. (1st photo: L-R) Minister of Natural Resources, Hon. Vickram Bharrat, a Representative of GKB and Dr. Peter Ramsaroop. (2nd photo) Minister Bharrat and Dr. Ramsaroop engaging potential investors.

• To become net energy exporter.

ENERGY: Gas to Shore Pipeline 300 MWs | Amalia Falls Hydro 165 MWs | Hope Wind Project 20 MWs | Solar Farms 33 MWs - Berbice, Essequibo and Linden

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NATIONAL PROJECTS: Deep Water Harbour - Berbice | New Bridge Across Demerara River State of the Art Hospital | 50,000 New Homes and Land Ownership | Corentyne River Bridge - Suriname Guyana-Brazil Road Link 2,000 Miles of New Roads

Since assuming office in 2020, the PPP/C Government has administered three national budgets; and notably–the collective allocation towards capital projects / public investment in infrastructure development projects amounted to a whopping G$398.3 billion (2020 – 2022), representing 72% of the 2022 budget and 22.3% of GDP (2021).

The Government is advancing a massive infrastructure development program which includes the building of several new fourlane highways, new housing developments targeting 50,000 new homes and land ownership by 2025, new bridge across the Demerara River, Guyana/Suriname bridge across the Corentyne River, Guyana/Brazil road linkage, etc.

Moving into the future, Guyana is increasing competitiveness in the field of technology. President Ali stated: “With rapid change in technology, we recognize that investing in our people is pivotal.” 3 large international BPO companies are already here and operating – Teleperformance, Itel and Qualfon. The Government is committed to boosting this sector and making it the most competitive in the region. Go-Invest and Nearshore Americas have undertaken a study of the BPO market to assess the strategic advantages of Guyana as a premier BPO investment destination. The goal is to develop a competitive profile which will attract more Fortune 500 Companies to Guyana. E-Networks is advancing further throughout Guyana, having erected infrastructure and now providing high-speed wireless internet services in the Essequibo islands, Regions 2, 3 and 10. Guyana is a premiere destination for the BPO industry for several critical reasons: Fluent English speaking population; Within close proximity to North America; Young motivated workforce

Opportunities for investment in: Meat Processing Operation; Corn and Soya Bean Production for Stock feed; Agriculture Technology; Aquaculture; Large Scale Cattle Ranching, Pig Rearing; Large Scale Integrated Farms; Value Added Coconut; Dairy Plants

Opportunities for investment in: Business Processing Outsourcing (BPO); Call Centers; Technology Parks; Medical Records Transcription; Telecommunication Services; Network Management and Security; Software Development; Data Processing Centers Agriculture – Modernizing our Known Industries while expanding Exports – The Heart of Our Economy

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Taking the Side of Innovation – Technology - Expanding our ICT Foot Print ICT: Expanded Call Centres | Data Centres | Expansion of Telecom to different Regions

TOURISM : Eco-Lodges | Resorts | Theme Parks | Medical Tourism | Marina and Entertainment | Cruise Ship Terminal Tourism represents a sleeping giant in Guyana as one of its most propitious industries. Guyana’s pristine rainforest, dozens of breathtaking waterfalls, majestic mountains and spectacular biodiversity make for an ideal destination for investments in ecolodges and eco-resorts. The Government is investing in our people to create a highly skilled workforce for the tourism industry as referenced in Budget 2022, with the development of our Hospitality Training Institute. Around 6,000 persons will be trained through a GuyanaBarbados joint tourism initiative, in preparation for four internationally-branded hotels that are set to complete construction in Guyana by 2024.

Opportunities for Investment in: Eco-Resorts, Falls, Lakes, Historical Sites; Linden Soesdyke-Region 10 - River front investment ideal, The Rupununi, Region 9-Savannahs; Sports Entertainment Complex; Theme Parks; Golf Course and Club Tourism; Marina and Entertainment Facility • -25% by 2025 • Reduce CARICOM Food Bill

President Ali’s administration continues to modernize an already diversified economy. In this respect, there is a tremendous amount of emphasis on the agriculture sector and building out the agriculture value chain to maximize efficiencies for getting goods to markets. To this end, Guyana is leading a regional food security agenda to reduce the region’s US$7 billion food import bill by 25% by 2025. To achieve this, Guyana is collaborating with regional counterparts and charting the way forward. The Government’s policies are also geared towards incentivizing the sector to promote new investments in the sector. With vast lands exceeding 20 million hectares, Guyana is ideal and poised for mega investments in large scale agriculture ranging from: Aquaculture and seafood processing to Hydroponic Farming for Niche markets and Mega Farms. Guyana is in close proximity to the US & the Caribbean making it a strategic location for large scale agriculture.

GOINVEST.GOV.GY Invest Guyana

Local companies are answering the call for the increased demand of the burgeoning oil and gas industry and have commenced the manufacturing of rigging equipment and development of fabrication yards. A consortium of local companies have signed a US$300 million contract in April to construct a shore base and port facility to be Exxon’s local service provider. Baker Hughes has built a Supercenter on the East Bank of Demerara to support the Oil and Gas sector and is constructing Guyana’s first mud plant at Kingston, to optimize and counter the pressure of gas and oil. Saipem has developed a fabrication yard in order to support the execution of offshore construction pits. Schlumberger has commissioned a US$75 million facility at Houston employing 150 Guyanese.President

Dr Irfaan Ali and Dr Peter Ramsaroop Dr Peter Ramsaroop visiting Aiden by Best promoting investments in the UK Western Hotel construction site with the developers

Conclusion Guyana is an excellent jurisdiction for investors. Guyana is well known outside of its territories as a business-friendly destination as there is a wide range of incentives and protections for foreign investors. In a microcosm, these incentives can range from exemption from Custom Duty on most plant, machinery and equipment, zero-rate of Value-Added-Tax on imports, and most importantly, full and unrestricted repatriation of capital, profits, and dividends. Corporate taxes were also removed completely from private education and the private health sector, thereby promoting private investment in these sectors – to complement the public health and education sectors. Guyana is led by bold leaders from all walks of life, qualified and optimistic men and women with the courage of their convictions and the vision to lead our nation to greatness. Working together with both local and foreign investors to attain these goals and make them into realities. Guyana is more than an investment, it’s a journey.

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 For further information: T: (592) 225-0658; 227-0653 | E: goinvest@goinvest.gov.gy | www.goinvest.gov.gy

President Mohamed Irfaan Ali continues to promote Guyana locally and worldwide during his many engagements with the local business community and citizens across the country and at the many international fora regionally and internationally in his efforts to attract local and foreign direct investors to buy into his Government’s plan for the development of the country and participate in the many sustainable investment opportunities which abound across Guyana. Since taking office in October 2020, President Ali and his Government have expanded Guyana’s economy and positioned Guyana as one of the leading Investment Destinations in the world. The booming Oil and Gas industry has created a wide range of investment opportunities and the Government has promoted expanding the traditional economic sectors to create a resilient multi sector economy.

In his travels his message has been consistent in promoting Guyana to the world and during the first half of 2022 he has visited and met with the leaders of Dubai, the UK, USA, and other countries.

"We Welcome Your Investment. Guyana is Open for Business."

ThePresidentCo-operative Republic of Guyana

President Dr Irfaan Ali with US President Joe Biden and Mrs. Biden during the Summit of the Americas in Los Angeles, California (L-R) CARICOM Leaders: Prime Minister of Antigua & Barbuda, Gaston Browne; Prime Minister of Barbados, Mia Mottley; Prime Minister of Dominica, Roosevelt Skerrit; CARICOM Secretary General Carla Barnett; President Dr Irfaan Ali; Prime Minister of Belize & Chairman of CARICOM, John Antonio Briceño; Prime Minister of Trinidad and Tobago, Keith Rowley; Deputy Prime Minister and Minister of Tourism, Investments & Aviation of Bahamas, Isaac Chester Cooper; and Premier of Montserrat, Joseph Farrell, at the Agri Investment Forum & Expo in Guyana

During a recent visit to the UK in May 2022, President Mohamed Irfaan Ali, continued to promote Guyana stating “Guyana’s future development trajectory is predicated on strengthening traditional sectors and building new ones, as he encouraging UK investors to be part of this journey.

His Excellency Dr Mohamed Irfaan Ali

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President Ali has earned the admiration of the regional and international community for Guyana’s success and bold leadership especially with his vision to expand the Agricultural sector to ensure food security for Guyana and the Caricom region.

President Dr Irfaan Ali welcomes President of Ghana, Nana Addo Dankwa Akufo-Addo to State House

Many international and regional business and investor delegations have since visited Guyana exploring opportunities for investment and enhancing the country’s global image.

President Irfaan Ali spoke about Guyana’s potential and investment opportunities during his feature address at the Guyana Investment Seminar, held at Carlton House, in London, UK.

President Dr Irfaan Ali with United Kingdom Prime Minister Boris Johnson in London While the President acknowledged the challenges facing the country, he assured his audience that “those are the challenges that we will confront boldly. And those are the challenges our development trajectory will address and must address.”

A large state and private sector investment delegation from the Kingdom of Saudi Arabia will visit Guyana on July 8 and 9.

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President Dr Irfaan Ali, held bilateral discussions with Minister of State for Foreign Affairs and Member of the Council of Ministers of the Kingdom of Saudi Arabia, Prince Adel bin Ahmed Al-Jubeir.

President Dr Irfaan Ali joined by the leader of Sierra Leone and returning Secretary-General of the Commonwealth, The Rt Hon Patricia Scotland QC, for the closing press conference of the Commonwealth Heads of Government Meeting (CHOGM) in Kigali, Rwanda.

“The heads of CARICOM came together, and we have decided that by 2025, we want to reduce the food import bill of CARICOM by 25 per cent. So, the initial target is 25 by 2025, and Guyana has leadership in ensuring this target is met,” President Ali said.

“Our development is about creating a broad platform for the future; a platform in which we are going to strengthen traditional sectors, make them more competitive and we are going to go after new sectors, such as Information Communication Technology (ICT), Education, Healthcare and Tourism” he said.

The discussions focused on a number of areas of cooperation including investment, energy, logistics, food security, climate and regional development.

HOSPITALITY TRAINING IN CANADA In the tourism sector, President Ali announced that Canada will help to train Guyanese in hospitality management. He said that Guyana has launched a programme to get 6,000 Guyanese trained in the sector, stressing that this is necessary to not only create the opportunity, but to build institutional and human capacity to meet the opportunities ahead.

The President highlighted Guyana’s proximity to the US as a positive for visitors who are looking for an alternative in medical services, and the country’s geographic position of bridging South America with the Caribbean.

He pointed to the strides that have been made in the agriculture sector, and Guyana’s lead role in the Caribbean Community (CARICOM) in advancing the region’s food production and food security agenda.

ICT Is one of “the new pillars” that will support the economy. Guyana wants to create a Health sector that is world-class, and a “knowledge sector where Education will play an important role in the building of the new Guyana”.

President Dr Irfaan Ali in discussion with Canadian Prime Minister, Justin Trudeau after the Commonwealth Business Forum for Heads of Government and Business Leaders Roundtable in Kigali, Rwanda

“We have just launched research on finding a wheat variety that can be grown in Guyana to satisfy our local demand to start with, so that the next generation of Guyanese must not be in a position that we are in today, where we are faced with these shocks and sudden increases in prices. And that is where the resources must go; building an economy that is resilient and Withsustainable.”regardstothe

“We have already committed that by 2025, the cost of energy must be reduced by 50 per cent. And by doing that, it will put Guyana on equal footing to compete with other countries where manufacturing and industrial development plays a vital role.”

He outlined an energy mix, including natural gas and other renewable forms of energy as the country’s future.

President Dr Irfaan Ali with Barbados Prime Minister Mia Mottley at State House (L-R) President of Brazil, Jair Bolsonaro; President of Suriname, Chandrikapersad Santokhi and President Dr Irfaan Ali BUILDING A RESILIENT ECONOMY

“We welcome your investment; we are open, and we are ready to have a conversation on how you can be part of Guyana’s development.”

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He noted that Guyana has presented an action plan to reach the target, while pointing to the importance of food security and agricultural diversification at the national level.

energy sector, the Guyanese Head of State acknowledged that Guyana has the highest cost of energy in the region, which places the country at a disadvantage in the manufacturing and industrial sectors. He pointed to efforts underway to address this challenge.

The President also disclosed that a major macro energy policy, which includes Guyana, Northern Brazil, Suriname and French Guiana is being crafted.

“This is the type of transformation I’m talking about. This is where the revenues from oil and gas will go to build other sectors, ensuring other sectors are competitive; ensuring that those sectors are resilient.”

The President also outlined Guyana’s many attributes, including its natural resources, climate services and biodiversity. He said the investment forum is not only about understanding the opportunities that exist, but about understanding how to access those opportunities.

MACRO ENERGY POLICY

“We have some of the largest distribution companies now ready to bring in the capital to replant coffee and cocoa, to ensure that we become self-sufficient in corn and soya as input costs for feed production for poultry and livestock. And that is where the country is going. In just 20 months, we have embarked on a programme of crop diversification.”

The President reiterated that Guyana and the opportunities Guyana presents existed long before the discovery of oil and Hegas.added that with 30 per cent of the world’s wheat taken out of the market, owing to the Russia-Ukraine crisis, global prices have skyrocketed, and countries that rely on wheat heavily, like Guyana, are feeling the brunt.

Within two years, the President added, Guyana will produce all the corn and soya needed for the feed production for our poultry and livestock sector. He also highlighted the collaborations with Barbados on creating the first Guyana/ Barbados food terminal as a pilot programme that will be replicated throughout the Caribbean, with Guyana becoming the food capital of the region, and working with Brazil to sign an agreement to enhance Guyana’s livestock breed, working with Barbados to expand the production of mutton and mutton products to meet the full regional demand.

“We’re now studying whether we now have the potential to become an energy hub for the Guiana Shield, and create a new energy corridor that will supply northern Brazil. So, our energy policy is integrated into the regional energy demand.”

Councilors and Community Service Officers of Campbelltown Village Council using the ICT Hub within the community. Campbelltown borders the mining town of Mahdia

Connecting Guyana and Guyanese with the World and Opportunities Through ICT

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Hon. Brigadier (Ret'd) Mark Anthony Phillips, MSS, MP Prime Minister The Co-operative Republic of Guyana

Prime Minister Phillips on a visit to GPL’s Power Plant. As our Government continues to deliver on our manifesto promises to the Guyanese people and with Guyana becoming one of the fastest growing economies in the world now attracting global investors’ interests, ICT remains high on our agenda. Without ICT expansion, national development will be stymied as it is critical not only for the development of all sectors, but also for the improvement of our daily lives. As Prime Minister holding direct responsibility for this sector, my office continues to take all the necessary actions to ensure that the digital gap and unequal access to ICT across Guyana is eliminated. It is now over one year since the telecommunications sector was liberalised under our Government and this has paved the way for the achievement of more affordable access to the internet countrywide. Moreover, with the complete removal of the previous VAT on data and cellphones, Guyanese now enjoy lower rates for the use and purchase of these essential items for ICT connectivity, and many persons who might not have once been able to afford these are now able to. My office has been actively engaging communities across the country to provide incentivised training in ICT. The response to this initiative is very welcomed by community members and the interest and demand is growing as individuals are grateful for the opportunity to increase their knowledge and improve their skills in ICT.

Prime Minister Phillips with honorees in recognition of International Girls in ICT Day

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Additionally, under the ‘ICT Access for Hinterland, Poor and Remote Communities’ project being managed by my office, rural communities throughout the length and breadth of Guyana are being equipped and connected.

Luis Barreto Country TeleperformanceManagerGuyana “Assembling world-class teams is our expertise. Our Guyanese identity paired with the unique Teleperformance innovation has engineered the industry locally and is ready to serve our clients with the best talent.”

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Furthermore, as we continue the roll out of our e-governance platforms for all government ministries and agencies, Guyanese will begin to enjoy the comfort and ease of digital online access to government services.

I take this opportunity to reaffirm my commitment as Prime Minister to ensure that ICT is used as an engine for economic and social empowerment by reaching every Guyanese in every community across every sector.

The LCDS 2030 sets out an updated vision for how Government intends to drive the transformation of the country. It provides a blueprint for protecting forests, biodiversity and watersheds, and advancing investments in clean and renewable energy, climate adaptation and the ocean economy.

AN UNDERLYING FUNDAMENTAL FOR DEVELOPMENT

Guyana – Offering Golden Opportunities for Transformational Investments whilst Saving the Planet

Hon. Dr. Bharrat RepublicTheVice-PresidentJagdeoCo-operativeofGuyana

H.E. President Bharrat Jagdeo, 2009

“There is no solution to climate change without action on forests. The people of Guyana identified this long ago. As a country where most of our territory is rainforest, we didn’t want to just despair about climate change – we wanted to do something about it. So we proposed two ideas. One, we said we were willing to create the right incentives to save forests. And two, we would use the payments we receive as a low carbon economy. If we are successful, we can offer the world a working example of what it takes to forge a successful, low deforestation, climate resilient economy.”

Accelerating Low Carbon Development, Expanding Investment Opportunities and Diversifying the Economy

LCDS 2030 advances a vision first articulated in 2008 by the then President, Guyana’s current Vice President, Dr. Bharrat Jagdeo. It addresses how Guyana can harness the opportunities of low carbon development to prosper at home and secondly, it outlines how Guyana can lead the way to globally relevant solutions to the biggest challenges of our time, including energy security and climate change.

Guyana was one of the first countries in the world to recognise that economies can rapidly develop, and natural resources can be sustainably managed, and at the same time expand investment opportunities. In 2009, when Guyana formulated the original Low Carbon Development Strategy, Guyana made an offer that no other country had made – to create a global model for jurisdiction-scale action to show how the world’s forests could be maintained. Since then, other countries have followed, and Guyana has worked with partners around the world to gain a far greater understanding of the enormous contributions that our ecosystems make to the world’s health and economy.

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Over the coming decade, with resources from the oil and gas sector, Guyana will make the highest level of investment in health and education that Guyana has ever seen. This will require both public and private investments.

INVESTMENT OPPORTUNITIES IN THE SOCIAL SECTORS

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2. Short-sea shipping, which connects Guyana with the other Caribbean and North American transhipment centres.

ADVANCING THE DIGITAL ECONOMY

3. Deep-sea shipping, which uses larger vessels to transport light, sweet crude oil cargo directly from Guyana to its final destinations in USA and Asia.

Over the longer term, we will augment basic education investments with new support for technical and vocational skills, with a particular focus on strengthening digital skills for a rapidly digitising economy.

LAND SECTORS: AGRICULTURE, FORESTRY AND MINING SECTORS

Guyana’s shipping services largely comprise three main groups:

Within these sectors, there is significant potential for investment in climate resilient crops, expanding agriculture to savannah lands, and diversifying crop varieties; there is also growing opportunity in expanding added value forestry activities in areas such as prefab houses (below) and mineral exploration using efficient and innovative mining technology.

Whilst Guyana’s oil and gas industry expands, the ocean space offers a new frontier for economic development for the benefit of the citizens. Investment opportunities include tourism; expanding carbon sequestration and ecosystem opportunities in mangroves, fisheries and expanding the shipping and logistics sector.

The digital transformation of the global economy is accelerating and Guyana needs to continuously advance the development of domestic capability to realise the immense new opportunities this transformation creates for the country.

RAPID DEVELOPMENT OF THE OCEAN ECONOMY

Guyana started and ended the decade (2010 to 2020) at 0.05% Deforestation Rate, one of the lowest in the world. The Average deforestation rate globally in 2020 was 0.51%. Guyana has maintained over 99% forest cover over the last 4 decades at a level of over 18 million Hectares (or 44.5M Acres).

1. Inter-island transport, which is often undertaken by small “tramp” vessels, serving the larger islands.

The trends emerging in this sector, are multi-growth areas such as increased port calls, larger vessel size, and increased container demand. These show its growing significance as a critical enabling component to support the auxiliary services and demands from various sectors. With the high growth forecast for the economy, the importance of having modernised ports are even more critical to Guyana’s development. This opens up new areas for investment as Guyana prepares to meet the needs of the expanded economy.

• Expansion of data centres to support the provision of services provided by government agencies.

As part of global climate action, Guyana is investing 19.5 Gigatons of CO2 of forest carbon stock to the Ambition for 1.5 C target: Guyana’s Forest has been verified by the UNFCCC at 19.5 Gigatons of CO2, one of the most dense (high carbon forest), and one of the most diverse ecosystems in the world as part of the Guiana Shield Eco Region and the Amazon Basin.

Guyana’s 18 million hectares of forest store over 19.5Gt of Co2. GUyana aims to maintain 99.5% of this forest as a global asset. Remove Every year, Guyana’s forests remove 154 million tons of Co2 from the atmosphere.earth’s Reduce Guyana aims to keep deforestation rates at 90% below the global average. Restore Guyana aims to regrow about 200,000 hectares of forest as a priority.

• Expansion of 4G LTE. • Expansion of the fibre optic network.

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At the same time, we will invest in continued diversification of the economy by supporting non-oil sectors and areas of the country away from the coastline. This will involve support for physical infrastructure – including river, road and air transport networks, the electricity grids; the national digital connectivity network; and more. It will also involve repairing coastal and hinterland climate protection infrastructure, as well as targeted support for agricultural expansion in non-forested parts of the country – to enable Guyana to become selfsufficient in key agricultural products as well as an exporter to regional markets and beyond. This investment will put Guyana on a long-term trajectory to sustain one of the highest growth rates in the world, and create wealth for all of our people.

CARBON MARKETS

Guyana Forest Carbon Credits Conserve

e-Governance • Service-oriented Government Programmes: this will include a national online portal to serve as a gateway to access digital government services, digitisation of population, commercial and land registers; and electronic identification.

Guyana will be engaging in the global voluntary carbon market in 2022. This is a pioneering next step following on from a successful bilateral cooperation with the Government of the Kingdom of Norway over 2010 to 2015. This partnership resulted in Guyana earning approximately US$220 Million on payment for forest carbon services. As Guyana advances in the process of its Low Carbon Development Strategy 2022, participation in the voluntary carbon market will likely see significant financing come to support implementation of the programme areas outlined in the Strategy. There is a growing space for private sector investment within the voluntary carbon market as potential buyers of forest carbon credits as well as supporting national initiatives that will expand and strengthen Guyana’s market participation from the supply side.

Aerial view of Georgetown and the Demerara River

Guyana will seek to bridge the divide between coastal and Hinterland communities by advancing programmes: Access and Connectivity • Expansion of the satellite network which provides part of the National Broadband Network.

INFRASTRUCTURE AND INDUSTRY

that export earnings from locally produced commodities could reach US$7 billion this year, as Guyana looks to further overcome the challenges of COVID-19, and institute appropriate mechanisms to guard against any eventualities which may arise over time.

Using current basic prices as a benchmark, the Bank had determined that Guyana could earn approximately US$7,792,800,000 by the end of 2022; representing an increase of about 55 per cent, when compared with revenues totalling US$4,352,000,000 earned last year. Notwithstanding the projected volatility in prices, based on Budget 2022, the government intends to maintain and even enhance its approach to stimulating growth in various economic sectors.

espite the global challenges being experienced, Guyana continues to register positive economic growth with significant contributions from the export of Guyanese produced commodities during the first quarter of 2022. The Bank of Guyana’s Quarterly Report on the country’s economic performance, reported that export earnings exceeded US$1.3 billion during the period under review. Dr Gobind Ganga Governor, Bank of Guyana

Export Earnings Surpass

US$1.3B in First Quarter 2022

“Facing head-on, the many formidable challenges, our government continues to work in earnest to advance the aggressive transformation agenda as previously outlined. At this moment of unprecedented opportunity for our country, we seek now to convert the bright prospects before us into realised national and individual well-being for all Guyanese,” Senior Minister in the Office of the President with responsibility for Finance, Dr Ashni Singh had Supportedsaid. by the robust institutional architecture that the government has established, Budget 2022 ensures that two complementary and critically important objectives are met: Firstly, that the urgent development needs of the country are met in the shortest possible time, and that the longterm economic well-being of the country is protected and safeguarded at all times. The first quarter of 2022 was somewhat a reflection of the government’s vision, as that period was a productive one for Dr Ashni Kumar Singh Senior Minister in the Office of the President with Responsibility for Finance

Bank of Guyana building Higher export receipts, were delivered from crude oil, which earned US$1.6 billion; other exports US$63.8 million; bauxite US$23.3 million and timber US$6.9 million. While lower export receipts were generated from gold, rice and sugar with US$27.7 million, US$5.3 million and US$2.8 million, Itrespectively.wasalsoreported

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The Report also indicated that the merchandise trade surplus increased by 47.6 per cent or US$204.4 million, from US$429.7 million to US$634.2 million. This outturn reflected a US$368.4 million growth in exports to US$1,365,200,000.

WORK IN EARNEST

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“For the Caribbean, robust growth of 6.9 percent is forecast for 2022, slowing slightly to 6.5 percent in 2023. Overall growth in Latin America and Caribbean (LAC) is expected to slow to 2.5 per cent in 2022. Globally, economic growth is expected to be approximately 2.9 per cent, a reduction of the original 4.1 per cent forecasted in January.” the World Bank added.

Guyana’s economy, which recorded positive economic growth, on account of sustained production in the oil-and-gas sector, and positive output performances in the non-oil sectors.

Guyana’s Economy on Course to Double in Size in 2022-2023 - World Bank Report

The World Bank is projecting that despite being surrounded by somber economic growth figures in the Caribbean and around the world, Guyana’s economy will actually double in size in 2022-2023. The World Bank announced growth prospects for Guyana, other Caribbean countries and the world in its updated Global Economic Prospects report.

“As oil-and-gas activities continued, the non-oil economy experienced moderate growth, on account of economic activities regaining momentum from the full reopening of the economy, coupled with fiscal measures to alleviate the rising costs of production and services,” the Central Bank said.

Booming Oil and Gas Industry Fueling Growth (L - R.) Finance Minister Dr Ashni Singh (centre) with Country Director for the Caribbean, Lilia Burunciuc (left) and the new Resident Representative of the Bank for Guyana and Suriname, Dilletta Doretti. Dr Ashni Singh met with the team from the World Bank to discuss opportunities for enhanced collaboration. (Photo: Ministry of Finance)

Considering its overall performance in the first quarter of 2022, Guyana’s economy is well positioned to record real oil Gross Domestic Product (GDP) growth of 49.6 per cent, and 7.5 per cent non-oil growth by the end of this year. This significant growth, the Central Bank related, is expected to be mainly as a result of expansions in all major sectors of the economy, as all COVID-19 restrictions have been lifted, and the economy has been fully reopened. Additionally, output of oil is expected to greatly increase, with the introduction of the Liza Unity.

In Guyana’s case, the World Bank expects that the economy will double in size from 2022 to 2023. This, according to the World Bank, is due to the rapid development of the offshore Oil and Gas industry. In a further breakdown, the World Bank Report noted that Guyana’s economy would grow by 47.9 per cent this year and 34.3 per cent in 2023 - the highest in the Latin America and Caribbean region. Real GDP is an inflation-adjusted measure that reflects the value of all goods and services produced by an economy (in this case, Guyana’s economy) in a given year. In simpler terms, the real GDP measures a country’s total economic output, adjusted for price changes.

Liza Unity FPSO vessel

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Guyana on target to achieve 47% GDP growth in 2022

Guyana, through oil giant ExxonMobil, began producing oil back in 2019. Since then, Guyana’s economic growth has taken off. Exxon has also said it anticipates at least six projects offshore Guyana will be online by 2027.

The oil company had said that their Liza Phase 2 project, where drilling started this year, will have the capacity to produce 220,000 barrels of oil per day. Exxon had also revealed that the Liza Phase 2 development was funded at the cost of some US$6 billion, including a lease capitalization cost of approximately $1.6 billion, for the Liza Utility FPSO vessel. For the Phase 2 development, six drill centres were planned, along with approximately 30 wells – 15 productions, nine water injection and six gas injection wells.

Thesetargeted.newprojects continue to contribute to the advancement of the Guyanese economy. More than 2,600 Guyanese are now supporting project activities on and offshore, which reflects an increase of more than 20 per cent since the end of 2019. ExxonMobil and its key contractors have spent over US$300 million with more than 800 local companies since 2015. The Stabroek Block is 6.6 million acres (26,800 square kilometres). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is the operator and holds 45 per cent interest in the Stabroek Block. Hess Guyana Exploration Ltd holds 30 per cent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 per cent interest.



The US$9 billion Payara development, the third development, will meanwhile target an estimated resource base of about 600 million oil-equivalent barrels and was at one point considered to be the largest single planned investment in the history of TheGuyana.Yellowtail development, which will be oil giant ExxonMobil’s fourth development in Guyana’s waters, will turn out to be the single largest development so far in terms of barrels per day (bpd) of oil, with a mammoth 250,000 bpd

The gross domestic product at current prices was US$7.373 billion in 2021 compared to US$4.940 billion in 2020, while per capita GDP in 2021 was estimated at US$10,212 compared to US$6,900 in 2020. The contributions to gross domestic product of the major sectors, as measured at 2012 prices, are shown in the table overleaf.

Guyana Budget 2022

Steadfast Against All Challenges, Resolute in Building Our One Guyana

Hon. Dr. Ashni Singh Senior Minister, Office of the President with Responsibility for Finance

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Review of the

Prepared by Khalil Alli, FCA MSc., Partner, Jack A. Alli, Sons & Co. Chartered Accountants

PERFORMANCE OF NATIONAL ECONOMY IN 2021 Budget 2021 had projected that the national economy would have grown by 20.9 percent in 2021, with the non-oil sectors and oil sector expected to grow by 6.1 percent and 46.7 percent, respectively. Actual growth for 2021 was 19.9 percent, with the non-oil sectors growing by 4.6 percent.

OVERVIEW

The Senior Minister in the Office of the President, Honourable Dr. Ashni Singh, presented the 2022 Budget on 26 January 2022. This is the third budget presented by the current PPP / Civic administration led by H.E. Dr. Irfan Ali. Budget 2022 was presented under theme “Steadfast Against All Challenges, Resolute in Building Our One Guyana”. It projects total expenditure of G$553 billion (US$2.652 billion) while total revenue is estimated at G$488 billion (US$2.341 billion). The budget deficit for 2022 is estimated at G$65 billion (US$311 million).

National Output

increased foreign direct investment. Sector % of 2021 GDP % of 2020 GDP % of 2019 GDP Petroleum 45 37 2 Agriculture, Fishing and Forestry 14 18 25 Mining and Quarrying 7 8 14 Manufacturing 3 4 6 Services: Real Estate 4 5 7 Construction 5 5 7 Wholesale and Retail Trade 4 4 7 Administrative and Support Services 4 4 6 Financial and Insurance Activities 3 3 5 Other 11 12 21 Source – Budget Speech 2022 2019 2021 Petroleum FishingAgriculture,&Forestry Mining Quarrying& Manufacturing Services 2021 2021 2021 20212020 2020 2020 2020 2020 2019 2019 2019 2019

The balance of payments recorded a surplus of US$130.2 million in 2021 compared to a surplus of US$104.7 million for 2020. The main contributors are highlighted below. 2021 US$mln 2020 US$mln 2,975.5 1,064.1 858.4 979.2 201.4 243.2 76.2 73.3 24.1 26.5 27.7 199.4 178.4 (740.3) (493.3) (3,552.9) (1,756.8) Current – Services (Net) (2,557.1) (1,820.9) account benefitted from increased earnings from sales in 2021, which offset declines in most other commodity lines. The current account ended in an increased deficit of US$1.533 billion due to the importation of Guyana’s second FPSO – Liza Unity, and increased net service payments The account of the balance of payments ended with a surplus of US$1.678 billion, increasing from US$920 million in the prior year, due mainly to

Gold

capital

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Balance of Payments

Other Imports

Other and Re-exports

Current Account Merchandise Crude Oil

crude oil

Sugar 14.6

The gold sector contracted by 14.8 percent due to challenges faced by both large and small to medium scale producers, while the quarry activity grew by 15.9 percent as public and private construction activity increased. The agriculture, fishing and forestry sector was severely impacted by floods as Guyana experienced the second highest level of rainfall since 1981 during the first half of 2021. The sector is estimated to have contracted by 9.1 percent in 2021.

Rice

Account

Fuel & Lubricants

Current – Transfers 965.2 658.1 Total Current Account Deficit (1,533.1) (822.9) Total Capital Account Surplus 1,678.5 919.6 Errors and Omissions (15.2) 8.0 Overall Balance 130.2 104.7 Source – Budget Speech 2022 The current

Bauxite

overseas.

Timber

The petroleum sector continued to expand during 2021, producing 42.7 million barrels of oil in 2021 compared to 27.2 million in 2020. In 2021, there was one FPSO operating offshore Guyana – the Liza Destiny.

Total public and publicly guaranteed debt amounted to US$3.1 billion at the end of 2021 with external debt and domestic debt amounting to US$1.4 billion and US$1.7 billion, respectively, compared to US$1.3 billion and US$1.3 billion at the end of 2020. The increase in the domestic debt in 2021 is partly due to the issue of debentures by the Bank of Guyana for US$959 million to securitise Government overdraft positions coming forward. The debt (including guaranteed debt) to GDP ratio at 2021 year-end was 38.7 percent. Natural Resources Fund

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The Natural Resources Fund amounted to US$607 million at the end of 2021, comprising US$357 million from Guyana’s share of profit oil and US$52 million from royalties in 2021, in addition to the balance of US$198 million at the end of 2020. There were no withdrawals from the Natural Resources Fund up to the end of 2021.

BUDGET REVENUE

PROJECTIONS FOR 2022

statutory and non-statutory

3.6 3.4 Rent, royalties and land development schemes 1.7 3.3 Bank

Form of Current Revenue 2022 BudgetG$bln 2021 BudgetG$bln Value-added tax 56.6 53.6 Corporation tax 48.2 38.2 Excise tax 46.3 40.1 Personal income tax 46.5 37.9 Import duty 27.6 21.2 Withholding tax 46.3 37.4 Other tax revenue 15.3 13.7 Transfers

3.0 2.5 Withdrawal

Source – Budget Estimates 2022, 2021 (Above) Hon.Dr. Frank Anthony, Minister of Health handing over $20 million worth of medical equipment funded by the Inter-American Development Bank (IDB) to Region Three (Essequibo Islands-West Demerara) (Top) President, ExxonMobil Guyana, Alistair Routledge and well-known businessman and miner, Andron Alphonso during the signing of the agreement to establish a multi-billion-dollar shore base port facility at the foreshore, Plantation Best, West Bank Demerara (Bottom) Artist’s rendering of the shore base facility.

The balance of payments surplus resulted in an increase in net international reserves at the Bank of Guyana to US$810.8 million as of 31 December 2021, compared to US$680.6 million at the prior year end. Public and Guaranteed Debt

Fund 126.7 0 Other current revenue 10.2 14.8 432.0 266.1

Of the total projected revenue for 2022 of G$488 billion (US$2.341 billion) in Budget 2022, G$432 billion (US$2.072 billion) is from current sources while G$56 billion (US$269 million) is from capital sources. The major sources of current revenue of G$432 billion are summarized in the table below. from bodies of Guyana profits from Natural Resource

2021

Responsible

2021 BudgetG$bln Ministry of Finance 54 45 Ministry of Public Works 96 40 Ministry of Health 57 39 Ministry of Human Service and Social Security 30 30 Ministry of Education 33 25 Ministry of Home Affairs 28 24 Ministry of Agriculture 29 19 Ministry of Housing and Water 17 13 Guyana Defence Force 18 15 Regional Authorities 60 54 Office of Prime Minister (inc. Power Generation) 40 13 Other Authorities 59 43 Public Debt 32 23 553 383 Source

I. Excise tax, Import Duty and VAT:  Reduction of excise tax on gasoline and diesel from 20 percent to 10 percent  Extension to 31 December 2022 of the freight cost adjustment which utilises pre-pandemic freight values in the determination of CIF values for tax and duty purposes  Removal of excise tax and VAT on new (less than four years old) motor trucks of any tonnage for transport of goods  Removal of excise tax on new single cab pickups below 3000 cc  Removal of excise tax on new double cab pickups below 2000 cc  Reduction of excise tax on new double cab pickups between 2000 and 3000 cc from 110 percent to 75 percent  Removal of VAT on cranes, safety equipment, and oil spill response equipment  Removal of VAT on new haulers for pulling containers or similar vehicles for pulling

II. Income Tax and Withholding Tax:  Increase in monthly income tax threshold from G$65,000 to G$75,000  Removal of two percent (2%) withholding tax on resident contractors  Recognition of premiums paid for life and medical insurance as a deductible expense for individuals, up to a maximum of the lower of 10 percent of their income or G$30,000  Removal of withholding tax on interest income earned by individuals on bank deposits where their interest income does not exceed G$10,000 per annum

2022

IV: Other:  Removal of stamp duty on retail transactions

 Increase in low-income mortgage ceiling on loans obtained through the banking system from G$12 million to G$15 million Capital revenue of G$56 billion is expected to be received principally through external loans of G$45.8 billion (US$219.7 million) and external grants of G$10.2 billion (US$48.9 million). The Inter-American Development Bank is expected to provide project loans and balance of payment support loans amounting to G$11.2 billion (US$53.7 million) and G$15.1 billion (US$72.4 million), respectively.

BUDGET EXPENDITURE PROJECTIONS FOR 2022 Budget 2022 projects total expenditure of G$553 billion (US$2.652 billion) compared to G$383 million (US$1.837 billion) in 2021. The table below analyses the allocation of total expenditure across responsible agencies, with comparative allocations from Budget 2021. Authority BudgetG$bln – Budget Estimates 2022, (Above) Hon. Collin Croal, Minister of Housing and Water, tests the water at the commissioning of a G$32.7 million Water Supply Improvement Project in the remote commmunity of Monkey Mountain, Potaro – Sipuruni (Region Eight)

III. Public Assistance and Support:  Increase in uniform grants from G$4,000 to G$5,000 per child  Increase in “Because We Care” grants from G$15,000 to G$25,000 per child  Increase in Old Age Pension from G$25,000 to G$28,000  Increase in Public Assistance from G$12,000 to G$14,000  Introduction of a Dialysis Support Programme which will finance up to G$600,000 per annum worth of dialysis treatment for each dialysis patient in Guyana  An allocation of G$5 billion to meet the cost of other interventions to be determined

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Some of main fiscal measures announced in Budget 2022 are:

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

Architect’s rendering of new Demerara River Bridge



Addition to the ambulance fleet, Ministry of HealthArtist’s Impression of Natural Gas Plant Budgetary allocations for following major road links: Corentyne Main Road to Crabwood Creek (G$8.3 billion)

Soesdyke to Linden Highway (G$2.6 billion)

Linden to Mabura Hill Road (G$6 billion)



Ogle to Eccles Linkage (G$2.3 billion) Sheriff Street to Mandela Road Link (G$1.1 Grovebillion)to Timehri Road Widening ($2.1 billion) Budgetary allocation of G$21.1 billion towards the construction of a fixed, four lane high span bridge across the Demerara River Commencement of “Gas-to-energy” project which will entail the construction of a 225KM pipeline to transport natural gas from offshore Guyana to the West Bank of Demerara to a power plant that will be generate 300 MW of electricity, along with a NGL plant to meet local demand. Budget 2022 includes G$20.8 billion towards the “Gas-to-energy” project. Commencement of the Amalia Falls Hydropower Project with expected capacity of 165 MW  Utilisation of US$85 million received from the Government of Norway towards the Low Carbon Development Strategy, for solar energy, Amerindian land titling, ICT access for the hinterland and sustainable land management projects. Budgetary allocation of G$12.4 billion for a paediatric and maternal hospital, along with upgrades to the West Demerara and Bartica hospitals, and construction of six new regional hospitals. Budgetary allocation of G$6.8 billion towards the national COVID-19 response Budgetary allocation of G$6 billion for investment in field and factory operations at GuySuCo Budgetary allocation of G$5 billion to strengthen flood protection infrastructure



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Some of the policy and expenditure priorities highlighted in the Budget 2022 Presentation are as follows.Amaila Falls



Electric Rider Trucks Electric Narrow Aisle Rider

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TrucksElectric Pallet

Unicarriers which commenced operations in 2013, is a merger between TCM America and Nissan Forklift Corporation. In 2015, Mitsubishi Heavy Industries and Mitsubishi Nichiyu Forklift Company, who are both part of the Mitsubishi Logisnext Americas Group, subsequently acquired Unicarriers.

total due to rounding. Khalil Alli is a partner with the professional services firm of Jack A. Alli, Sons & Co. He holds a BSc. and MSc.in Economics from the London School of Economics and Political Science, and is a Fellow of the Institute of Chartered Accountants in England and Wales.

Banks Automotive & Services Inc. is the official Unicarriers Forklift Truck dealer in Guyana, under the umbrella of the Mitsubishi Logisnext Americas Group.

Jacks & Stackers

The Future In Transportation & Alternative Energy Block 'X' Plantation Ruimveldt, Georgetown 592-225-0910 | Ext. redmondson@banksdih.com2415

(WITHEngineCombustionInternalTrucksCUSHION/SOLID&PNEUMATICTYRES)

GOINVEST.GOV.GY Invest Guyana 2022/23 | 39

Martin Director,PertabLocalContent Secretariat

perspective of many foreign investors, partnering with local companies for the provision of goods and services identified under the first schedule of the Act has actually been beneficial to both parties. First, once the criteria to become a Guyanese company are met as set forth under the Act and the new joint venture is formed, by deduction, at least 51% of the risk of the investment is shouldered by the local counterpart. Second, as with all local companies, the new company would now be conferred with the preferential treatment that accompanies the Act. It is on this notion that foreign investors are seen as not just allies in Local Content policy, and by extension, the Act: they are the springboard from which economic and technological ties can be established to gain access to even larger segments of the global production chain, through the establishment of joint ventures and partnerships between Guyanese Companies and Foreign Investors. It is therefore the intention of the Government, through the Local Content Act, for both the local and foreign companies, and the public sector, to work closely together to assist local companies in meeting the

Overall, Local Content is perceived as a critical player in advancing our structural transformation agenda and building a complex and diversified economy through knowledge transfer, job creation, and stimulating economic activities. In fact, the 40-carved out areas are estimated to generate an additional US$700M by the end of 2022 in additional business activities.

The Local Content Act (“the Act”) of Guyana sets out the framework for the forging of positive economic linkages at the local level along the petroleum value chain. The Act contemplates several key objectives, of which amongst others are: to prioritise Guyanese nationals and companies in the procurement of goods and services, enhance local capacity development, and of course, promote competitiveness

Currently, Local Content is perceived as a major impetus behind the slew of partnerships and joint ventures in Guyana between local and foreign companies. It has played a major role in reducing in-country operational costs and ensuring greater returns on investment among foreign companies especially through the utilisation of local skills and service

Specifically, to ensure maximum participation by our locals, 40 carved-out areas within the petroleum value chain have been identified along with their respective minimum targets of which contractors, sub-contractors or licensees operating in the sector are expected to achieve by the end of the year 2022. This ensures that existing capabilities known to be present within the local supply chain are utilized to support the sector’s operations. Critically, these sectors and subsectors are considered as some of the low-hanging fruits of the industry. In fact, leading up to the finalisation of the respective carved-out areas along with their targets, the Ministry of Natural Resources held extensive consultations with various stakeholders including those from the oil and gas industry, the private sector, governmental agencies, and even civil society. What emerged was a list of basis services along with a string of conservative targets. Hence, the overall objective is to avoid all likelihood of supply-side constraints.

Under the Act, the Local Content Secretariat (“the Secretariat”) has been established and functions as the focal point for the monitoring, evaluation, coordination, and reporting of Local Content in the petroleum operations of Guyana. Therefore, one of its’ key roles is to monitor and evaluate companies’ performance with respect to the Guyanese utilization targets outlined in the Act. To support companies in utilizing services offered by Guyanese nationals and businesses in their operations, the Act allows for the creation of a Local Content Register to provide companies with information related to local skillsets and levels of competence of all registered Guyanese companies from which goods and services can be procured in support of petroleum operations. Critically, only those companies on the Register or those that have been issued with a valid Local Content Certificate shall be utilised to measure compliance with the fist schedule of the Act.

Fromproviders.the

Local Content and Foreign Investment

40 | Invest Guyana 2022/23 INVESTGUYANA.NET

An Overview of Guyana’sContentLocalLaw

The Secretariat is also seeking to develop its investigative and auditing capabilities to adequately perform its functions regarding monitoring and ensuring compliance with the Act. This would serve to verify the information submitted to the Secretariat by companies operating in the sector. Further to the foregoing, the Secretariat will continue to strive to play an even greater role in the facilitation of local supplier development and ensuring that adequate investments are made by companies in this regard. Hence, the importance of local content development in driving structural change and developing a productive, diversified, and complex economy cannot be overemphasised. For further information and clarification of the Act and any related issues, please contact or visit the offices of: Local Content Secretariat: 116-117 Cowan Street, Kingston, Georgetown, Guyana. Tel: +592 225 8315 Email: Website:localcontent@nre.gov.gyhttps://petroleum.gov.gy/

Air

The Secretariat at the end of the year will conduct an in-depth review of the companies’ achievement of the Local Content targets set out in the Act with the aim of amending the target percentage for future years. This review will not only inform the updating of the targets but will also identify additional areas for Guyanese participation based on the procurement activities of companies operating in the sector.

GOINVEST.GOV.GY Barima Bel Park, Georgetown, Guyanawww.cic.co.gy+592-225-3097 info@cic.co.gy

technical requirements for provision of oil and gas services that is internationally competitive and is in accordance with best practices.

Avenue,

Oil & MarineGas& Aviation EmployeeProperty Benefits Fiduciary Lines Casualty Lines Motor Our Insurance YServices OUR INSURANCE PARTNER We are a leading insurance brokerage and risk management firm providing exemplary claims advocacy services. As your partners you can be assured that your assets are protected thereby enabling you focus on achieving your goals.

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Lethem Hotels Barima - Waini Administrative Regions Major Bridge LethemTown/CommunityHotels COOPERATIVE REPUBLIC OF GUYANA PRESIDENT, PRIME MINISTER, VICE PRESIDENT AND MINISTERS GOINVEST.GOV.GY Invest Guyana 2022/23 | 43

GUYANA LOOKING TO AN ECONOMY OIL

Contribution of Sectors to

14.4 Agriculture,

PSC Chairman and of Bilateral Chamber of Commerce with dignitaries after signing MOU in Houston, Texas

President

BEYOND

Based on stable but high world market price for oil, the International Monetary Fund recently projected that the Guyanese economy is poised to double in year 2022-2023. This will be achieved primarily from the production of oil at an average rate of 257,000 bpd this year and the projected growth that is envisioned in all the non oil sectors.

Guyana’s 2022 Budget at a value of GY$529.96 Billion, is the largest ever in the country’s history. The budget revenue was originally pegged at GY$432.01Billion, but increasing oil prices due to major events on the word stage, will see this value increasing significantly. The budget assumed that oil prices would be an average price of US$74 per barrel, resulting in SECTOR COMMISSION OF

WholesaleConstructionWaterElectricityManufacturingquarryingsupplysupplyandsewerageandretailtradeand

Private Sector Commission – Building a Sustainable Diverse Economy PSC Chairman, Paul Cheong presents PSC’s Annual Report 2021 to Barbados PM Hon. Mia Mottley at Barbados Agro-fest 2022

PRIVATE

44 | Invest Guyana 2022/23 INVESTGUYANA.NET Guyana, through its expanding Oil sector, achieved a growth in Real GDP of 19.9% in 2021. This was lower than the phenomenal growth experienced in 2020 where 43.5% was realized based on the country’s inaugural oil production. Its non-oil economy expanded by 4.6% after a dismal contraction of 7.3% in 2020. This was an exemplary result when compared to the global growth rate of 5.9%. The global rate was a significant rebound from 2020 where it contracted by 3.6% In fiscal year 2021, the extractive sector accounted for over 43% of the Gross Domestic Product of Guyana. This was followed by Agriculture, Forestry & Fishing with 14.38%; which represented a decline in that sector. The next major contributions to GDP were the Constructions sector with 6.62% and closely following was Real Estate Activities with 5.73%. This represents a fair growth in both sectors which translates to real economic growth and an impetus to national development via job creation and commercial activities. Manufacturing and Electricity supply had strong showings which augurs well for the concerted drive at the national level to engage in more production centered activities to create value added products and move away from primary production.

Chart showing GDP 2021 Agriculture, forestry and fishing Mining and quarrying Water supply and sewerage Wholesale and retail trade and repairs Transport and Accommodationstorageandfood services Information and communication Financial and insurance activities Real estate activitiesfic and technical services Administrative and support services Public Humanadministrationhealthandsocial work Arts, entertainment and recreation Other service activities 43.4 14.4 Agriculture, forestry and fishing Water supply and sewerage Wholesale and retail trade and repairs Accommodation and food services Information and communication Financial and insurance activities c and technical services Administrative and support services HumanEducationhealth and social work Arts, entertainment and recreation Other service activities 2.41.40.20.2 4.8 0.3 43.4 forestry and fishing Mining and repairs Transport and Accommodationstorageandfood services Information and communication Financial and insurance activities Real estate Professional,activitiesscientific and technical services Administrative and support services Public HumanEducationadministrationhealthandsocial work Arts, entertainment and recreation Other service activities

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for

The2022.large budget is made possible by the injection of GY$126.7 Billion from the National Resource Fund into the economy. This is made possible by the passage of a highly anticipated Natural Resource Fund Law which was passed in late 2021.

The sugar sector managed to contain the reduction in its value added to 34.7% in 2021, and delivered total sugar production of 58,025 tonnes. This was a significant reduction in comparison to the 88,868 tonnes produced in 2020. Reports from the Sugar Corporation was that there was destruction of some 4,300 hectares of cane in inundated fields in the first half of 2021. In year 2022, there is a projection that the Sugar Sector will grow by some 11.8%.

Conversely, the livestock subsector is estimated to have grown by at 9.2% in 2021 in spite of losses during the floods. The increase is on account of growth in the production of poultry meat by 16.5%, beef by 13.9% pork by 23.6% and mutton by 21.3%, from its 2020 output. These more than offset the estimated declines in the production of eggs and milk. The increase in production reflects the growth in demand which is premised on the relaxation of COVID-19 restrictions on restaurants and other food establishments. Also, there was a high demand in the oil and gas and mining sectors for these Thecommodities.Commission through its membership has embraced the CARICOM adopted policy of 25% by 2025 reduction in the food import bill for the region. Thus, the PSC, in supporting the Government of Guyana initiatives, has established working relationships with Private Sectors in Barbados and PSC Chairman, Paul Cheong, Deputy Chief of Mission of the US Embassy, Mark Cullinane and Executive Director, Ian Chung following a courtesy call at the Commission

The Law operationalized the expenditure of Guyana’s Oil funds, and will see the transfer of monies from the National Resource Fund to the Consolidated Fund in 2022.

The PSC believes that the historical passage of the Local Content Law 2021, will serve as a catalyst for exponential development of the local private sector of Guyana. The law has and will allow Guyanese owned businesses to effectively build capacity and subsequently compete in the highly resource intensive Oil & Gas Sector. The Commission welcomes the establishment of a Local Content Secretariat to operationalize and monitor the implementation and execution of the law.

The Commission sees the Oil & Gas sector as having transformational potential for the Guyanese nation. Over the next few years, the massive oil wealth, once used effectively, will transition the current economy to a sustainable diverse one, where the country will move from being a primary producer of materials and products to the manufacturing hub of the Caribbean and the gateway to South America.

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US$957.6 being raked in from oil revenues. However, oil prices in 2022 have leaped frogged to an unexpected US$122 per barrel. This will negate the initial budget deficit of GY$97.95 Billion and create a windfall position by the end of the year

The Private Sector Commission welcomes these developmental projects, which will have a massive impact on the business community and will lead to accelerated investments by the Private Sector to capitalize on the growing opportunities that are being presented.

In the Rice sector, the record-high rainfall also had a severe impact, but the sector managed to confine the reduction in its value by 22.97% from its 2020 position where 1,057,580 tonnes of paddy was produced (representing a growth of 4.8% from year 2019). Total paddy production in 2021 amounted to 859,993 tonnes, which resulted in 558,995 tonnes of rice being produced. A growth of 25.1% is expected in the Rice Industry for this year.

Massive infrastructural works were encompassed in the budget, including the building of a new Demerara Harbour Bridge, the Amaila Falls Hydropower Project, the Gas to Shore Energy project, the Linden to Mabura Road, amongst many others. These transformational projects will see massive development of lands and businesses across the length and breadth of Guyana.

The PSC sees the Agriculture, Forestry and Fishing sector as one of the most critical sectors in the building of a diverse economy. This sector bore the brunt of the impact of the severe flooding experienced in 2021. This led to the contraction of this sector by 9.1% when compared to a fair growth in 2020 of 4.1%. This position is largely on account of reduced output in the sugar, rice and other crops subsectors, which outweighed improved performances in the forestry, fishing and livestock subsectors.

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Diamond, Sand & Stone mining continued their growth from 2020 with an 81.6% increase from 2020, with Diamond declarations growing by 82.2%, while Sand & Stone had growths of 132.8% and 15.9% respectively.

This is highly sustainable and has the ability to impact many future generations. The fishing sector is estimated to have grown by 11%. This was in spite of the poor showing of the shrimp industry and other challenges faced by the sector. There was a 13.5% decline in shrimp production as a result of underperformance in whitebelly shrimp and industrial seabob shrimp. The strong overall showing in fishing was as a result of recovery in the latter half of 2021 where there was a 15.7% growth in fish production. Notable increases were observed in production across all fish products, with the most impressive growth being a 235.4% in industrial finfish.

The Bauxite and Gold subsectors underperformed and thus there was a 3.8% decline for bauxite and a 14.8% decline for gold mining. The bauxite industry was affected by the heavy rains and flooding and mechanical failures. Gold mining also suffered setbacks because of the flooding experienced in the hinterlands. Both large and Small & Medium scale mining reported declines in their production. Total Gold output for 2021 was pegged at 499,054 troy ounces.

While the manufacturing sector rebounded well in 2021 with estimated growth of 3.5 %, after an 8.6% decrease in 2020; It is set to have a steady growth from year 2022 onwards. The Services Industry and production of construction goods will be the main driver behind growth as seen in where the growth in the sector was as a result of the other manufacturing sector expanding by some 20.7 %. This expansion was attributed to increased output of products like cement blocks, fabricated metal products, beverages, chemical products, and other food. With regards to Utilities, Electricity supply experienced an estimated 4.7 % growth, while the water supply and sewerage sector is estimated to have declined by 6.4 %, partially on account of loss reduction efforts. Total water production amounted to 162 million cubic metres in 2021 compared to 173.4 million cubic metres in 2020.

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Construction will also play a major role in the sustainable diverse economy being promoted by the Private Sector Commission. As indicated above in relation to production of sand and stone, investment in critical infrastructural projects by the public and private sectors is driving, and will continue to drive, significant growth in construction activity. Current estimates show that the construction sector grew by 29.8 % when compared with 2020, underpinned by both the major public infrastructure build-out that is currently underway, as well as increased private sector investments.

The Private Sector Commission is enthused by the significant developments being undertaken in the fishing sector with regards to fresh water production of prawns and other aquaculture projects. These highly managed and controlled projects have the ability to be scaled up and production for the wider Caribbean region will be a significant boost to food security which is critical in the context of a world of fermenting chaos and uncertainty. Sustainable growth and improved production are also expected to continue in 2022 in the Mining sector, which has had a good showing in 2021 with an estimated growth of 36.5%. However, this was pale in comparison to the 303.7% realized in 2020 and will see an 86% increase for year 2022. These results were driven mainly by an expansion in the oil and gas and support services subsector. When combined with the estimated growth in the other mining and quarrying subsector, the outcome was positive in spite of the contraction in the gold and bauxite mining subsectors.

With regards to the forestry sector there was an estimated 11.3% growth from the year 2020. Timber output grew from 344,179 cubic metres in 2020 to 383,189 cubic metres in 2021, which was as a result of strong demand due to expansion in construction activity. The PSC notes that even with this increase, the sector is still not performing at its optimum, only achieving a percentage of its allowable harvesting target. This sector forms part of the sustainable economy and have the advantage of being a part of the Low Carbon Development Strategy which is geared at monetizing Guyana’s standing forest by way of sales of Carbon Credits.

Suriname for collaboration at all technical levels to advance food production and achieve synergies to realize economies of scale and reduced production cost.

Guyanese members of Guyana-Suriname Private Sector Business Council and Go-Invest meet Suriname’s President, H.E Chandrikapersad Santokhi

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Another sector that the Commission envisions to be highly important and where government has been directing its focus is the area of renewable energy. Thus, the Low Carbon Development Strategy 2030 will play an integral role in the county’s transition from Fossil fuels to sustainable energy options. Large investments in solar farms, winds farms and other renewable energy forms is projected within the next few years to drive this transition. Government of Guyana tax incentives in this sector is projected to drive investments in these areas. In summation, the Private Sector Commission envisions that the healthy and growing economy of the future for Guyana is one that will be built on the Non-Oil economy. The Economy must be sustainable and diverse to be resistant to the many economic shocks that are being encountered in the global marketplace. Renewable Energy, Agriculture, Logistical & Transport enhancement, Environmental protection and regrowth, along with leveraging the value of Guyana’s standing Rainforest are pivotal to the building of the resilient and robust economy of the future. Based on effective policies being pursued by both government & the private sector, Guyana is on a trajectory to be a model economy with projected decades of sustained economic growth.

“Putting the figures into perspective, back in 2011 trade between the two countries totalled 94 million pounds sterling (approximately US$118,126,858) indicating that the trade between the two countries has expanded six times in the last 10 years.

Guyana is the UK’s Largest Trading Partner in the Caribbean

This merits exploring plans to establish a British Chamber of Commerce in Guyana, the High Commissioner stated.

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“As a result of this visit, particularly His Excellency meeting with Prime Minister Boris Johnson, we are now in the process of developing a more formal framework that will enable a deeper relationship including for future commercial engagements,” she said.

The President also said that Guyana and the UK were working to remove trade barriers to allow smooth access of Guyanese products to that European Themarket.British High Commissioner credits the improved trading relationship to the hard work of the UK’s Department for International Trade with a catalyst being the visit to Guyana last year by the UK’s Deputy Trade Commissioner for Latin America and the Caribbean.

Earlier this year, a British trade mission visited Guyana and a memorandum of understanding was signed between the Georgetown Chamber of Commerce and Industry and the long-established business organization named the Caribbean Council.

President Irfaan Ali, during his recent visit to London earlier this year to promote investment opportunities in Guyana, met with leading business executives and British politicians, a move that High Commissioner Miller says has set the tone for improved trade relations between Guyana and Britain.

The United Kingdom is boasting increasing trade with Guyana, making this oil-rich nation its single largest trading partner in the Caribbean, British High Commissioner to Guyana Jane Miller confirmed. Addressing the Queen’s Birthday Party in Guyana, she said total trade between the UK and Guyana in 2021 amounted to 560 million pounds sterling (approximately US$703,769,568), representing 21.6 percent of all trade between the UK and the Caribbean and “making Guyana the UK’s largest trading partner with the Caribbean.”

British High Commissioner to Guyana, Jane Miller, President Dr Irfaan Ali and Governance Minister Gail Teixeira toast to the good health and well-being of Britain’s Queen Elizabeth II

President Irfaan Ali in his address to the gathering, said major financial institutions in Britain have a huge amounts of money to invest in Guyana.

Guyanese business executives are encouraged to take advantage of these investment opportunities in the UK.

“I was at a very important meeting with huge financial institutions in the UK and what I heard in that meeting was mind-blowing; that is assessing the risk of Guyana, assessing all that has to be done. There is an envelope of resources through the UK that is there for government and the private sector that is in the hundreds of millions of pounds,” he said.

The British High Commission and the UK’s Department of International Trade are available as reputable resources to support doing increased business with the UK.

 President Irfaan Ali during his recent visit to the UK urged British investors to take advantage of a wide range of investment opportunities in Guyana with their more attractive financing terms when compared to those offered by other Incountries.anaddress to United Kingdom business executives, politicians and diplomats, he said the UK has set aside about $750 million pounds sterling that Guyana can qualify for through investment and infrastructure in Guyana but the uptake has been slow. “What is missing is the aggressiveness from the private sector here in the UK and the EU generally,” he said.

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He added that an agreement is being negotiated with Barbados to improve Guyana’s mutton production and mutton products to as much as US$55 million. “These are the opportunities that we are preparing the economy for and we are investing in the economy to be the future revenue earners and when one asks what the resources from Oil and Gas will do for us, these are some of the things that it will do for us,” he Thesaid.President said Guyana would be moving to the stage in which primary school students would be educated in elementary coding and secondary school students would have foundational training in software development.

In a separate engagement on Guyana’s tourism, Dr. Ali said the EU and UK’s relationships with Guyana are “very different now”. The Children and Maternal Care Hospital, he said, was being funded by Austria for 150 million Euros. He said the UK’s EximBank would be “investing heavily in Guyana.”

President Ali Calls on UK, EU Investors to Aggressively Pursue Opportunities in Guyana

Prince Charles sharing a joke with President Dr Irfaan Ali during their meeting in London Referring to the presence of Chinese companies in Guyana, the Guyanese President said investors from that Asian nation “find the market faster than anyone else” because they have a different approach to doing business.

President Dr Irfaan Ali addressing the UKorganised Guyana Investment Seminar in London

“Well, I can tell you from my humble experience - their aggression is far different and frankly speaking now that we are being sought after by different stakeholders our experience is changing,” he said. He explained that Guyana recently finalised financing for a new Children and Maternal Care Hospital with financing coming from the EU “at better terms than the Chinese.”

Chinese companies have been identified through the National Procurement and Tender Administration Board to build a new Demerara River bridge and the Amaila Falls Hydropower Station.

The President said the United States has also committed to providing attractive financing. “We had a meeting with the US and they said to us whatever financing you are getting, we are committing to you that we’ll beat the financing - the terms, but an interesting question is would these financing or these terms, would it have been available without Oil and Gas,” he said.

He stressed that Guyana’s development platform was hinged on improving its human capital through education and health as foreign exchange earners, tourism, boosting corn and soya production to become self-sufficient in poultry and livestock feed, constructing new homes and training 6,000 Guyanese for the hospitality sector.

Guyana to house first World Trade Center in CARICOM

DDL having secured a license to establish a World Trade Center Georgetown, Guyana has begun to transform its building in High Street Kingston into the center which will provide a range of opportunities for local businesses and organizations to enhance their networking capabilities globally. Three committees focused on physical redesign and retrofitting of the building; advanced information technology installation; and the work program and activities of the center respectively are already at work to facilitate an official opening of the facility during the first quarter of 2023.

A World Trade Center is more than just a building that creates a uniquely branded piece of real estate. The services provided by a World Trade Center are designed to facilitate critical support to local businesses through, inter alia, the creation of international links to lucrative markets and potential investors, training and capacity building, information exchange and access to the most advanced technology. A World Trade Center designation is a valuable commodity which creates a unique combination of a prestigious branded piece of real estate and vital trade

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Negotiations on the license for WTC Georgetown, Guyana were held on the sidelines of this event.

rade is a vital activity for building inclusive and sustainably strong economies and for promoting global peace and prosperity. The private sector globally, especially small and medium size enterprises, play a critical role in socio economic development of every Nation. Since the formation of the World Trade Centre Association (WTCA) more than half a century ago, today there are more than 300 World Trade Centres in over 100 countries around the world, and Guyana has become the first country in the CARICOM region to secure a license to establish a World Trade Centre. This follows the culmination of several months of negotiations between one of Guyana’s leading private sector companies, Demerara Distillers Limited (DDL) and the New York-headquartered World Trade Center Association (WTCA). The initial meeting to explore this initiative was arranged by the Florida headquartered Guyanese American Chamber of Commerce (GACC) during the 2019 Florida International Trade Conference and Expo (FITCE).

By Wesley Kirton

DDL Chairman Komal Samaroo welcomes former Latin American Presidents to a reception at the Florida International Trade Conference & Expo (FITCE) in November 2021.

Anservices.official virtual announcement and handing over of the license ceremony was held on April 5 at which Guyana’s Minister of Tourism, Industry and Commerce, Oneidge Walrond; Georgetown Mayor Ubraj Narine, former President of Guatemala and Immediate Past Secretary General of the Central American Integration System (SICA) Vinicio Cerezo, WTCA Chairman John Drew and DDL Executive Chairman Komal Samaroo were among the speakers.

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Minister Walrond added, “The World Trade Center is coming to one of the most promising economies in the world, in partnership with a Guyanese company that is second to none, comparable with the best that may be encountered anywhere on the globe.”

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Minister of Tourism, Industry and Commerce, Oneidge Walrond, in her address to the virtual gathering, said, “In bringing to Guyana the international brand that is the World Trade Center DDL is yet again breaking new ground and forging new paths that blaze a trail for others here to follow. I have noted especially the role that the World Trade Center Association aims to play in facilitating international trade and in the development of Small and Medium Enterprises.”

The Mayor of Guyana’s capital city, Georgetown, Ubraj Narine views the establishment of the center as a boost to the international image of the City and as a facility that will contribute tangibly to the growth and vitality of its business community. He pointed out that the opportunity to widen the network of international links should be taken advantage of by local businesses. Former Guatemala President Vinicio Cerezo, in extending congratulations to DDL said, “Guyana with its English roots has always represented a special link with our neighbors in the north. Also, by hosting the headquarters of CARICOM you are connecting Latin America with the Caribbean. The meeting recently with SICA and CARICOM was very important, showing that every day we have to work together and join forces on many multilateral and cooperation issues.” He added, “By establishing a World Trade Center in Georgetown, Guyana you are creating a platform to enhance those relationships through the private sector, especially empowering the small and medium-size businesses that will have a positive impact in both Guyana and the Chairmanregion.”ofDDL,

Komal Samaroo in his acceptance of the WTC license said “I see the establishment of the World Trade Center, Georgetown, Guyana providing a service to all of Guyana linking the efforts of businesses in the country with potential international partners expanding trade and business relations across the world. Guyana is a small country with a population of less than a million at the present time. Therefore, any business operation that requires economies of scale to be competitive cannot rely on the domestic market only. It must be able to find markets in other countries around the world.” Samaroo added, “It is my view that in the rapidly expanding economic space in Guyana in the future, the World Trade Center can serve the nation and its businesses well, in helping to realize its full potential while providing World Trade Centers around the world with access to potential partners in Guyana.”

World Trade Center, New York

The Guyana Online Academy of Learning (GOAL) was conceptualised and established by the Government of Guyana in 2020 in response to the dire need to bring educational opportunities to all Guyanese across the country to improve their skills to function at a higher capacity in the National Development Agenda. It is the Government’s intention to create educational opportunities for the under-represented and for those without access to traditional higher educational institutions.

The Guyana Online Academy of Learning

In the efforts to increase the skillset of all Guyanese and allow them to take advantage of the many employment opportunities across the rapidly growing Oil and Gas Sector and all other sectors. The Government of Guyana through the transformative vision and leadership of His Excellency President Dr Mohamed Irfaan Ali, has facilitated and developed a number of Online Educational and Training Programmes such as GOAL, GROW and WIIN to fulfil the promise of creating and expanding educational opportunities for Guyanese nationals of all ages, gender and varied skill levels across the country by providing 20,000 Online Scholarships over his five-year term in Government.

GOAL has partnered with fifteen (15) local and international educational institutions to offer over 180 diverse Online Educational Programmes to meet the challenges and demands of transformation and expansion of various sectors in Guyana, including Oil and Gas, Engineering, Construction, and Information Security.

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GOAL’s partners include: Indra Gandhi National Open University, India; JAIN University, India; The University of the West Indies Open Campus; University of the Southern Caribbean, University,SpainInternacionalStructuraliaUniversityMooresLondon,Zambia;Uganda;Malawi;Guyana;Science,InstituteGermany;ofInternationalTrinidad;UniversityAppliedSciences,SherlockofForensicIndia;EnerMech,UNICAFUniversity,UNICAFUniversity,UNICAFUniversity,UniversityofEastUK;LiverpoolJohnUniversity,UK;ofSuffolk,UK;UniversidadIsabelI,andTexilaAmericanGuyana

GOAL is a vision of His Excellency Dr Irfaan Ali to advance the country’s human capacity

The Ministry of Human Services and Social Security has created the WIIN Project which is targeted to providing training opportunities to Women to improve their skills and allow them to become entrepreneurs and compete equally for job opportunities. The Ministry has also since established The Women’s Leadership Institute to support their programmes. These Projects are all geared towards fulfilling the promise of President Irfaan Ali to deliver 50,000 jobs as part of his Government’s first term of office.

GOAL and GROW programmes are being developed and administered primarily by GOAL under the auspices of the Ministry of Education, and at the same time GOAL partners with the Ministry of Public Service on outreach activities and scholarship funding.

A FOCUS ON CAPACITY BUILDING FOR ECONOMIC INCLUSION Government Preparing Guyanese to Benefit from Opportunities

GOAL’s Director, Professor Opadeyi, signs a MoU with IGNOU one of GOAL’s partners

GOAL’s mandate is to ensure 20,000 Guyanese are afforded online scholarships

The recipient of the scholarship includes Law Enforcement Officers who are enrolled in Forensic Science and Crime Scene Investigation courses, Teachers, Farmers, Public Servants, Homemakers etc. Short courses such as Jewellery making, Photography and Event Planning are offered as skill training to the public. 80 awardees recently completed their Technician Training in Oil & Gas, of which Exxon’s Noble Drilling has hired a batch of 24. GOAL’s awardees at EnerMech 3t HQ for the practical aspect of the Oil and Gas Programme in 2022

The offerings from these institutions range from certificate, diploma, undergraduate and post graduate degrees. This initiative ushers a new era of higher education and capacity building in Guyana, that promises to transform the teaching-learning landscape from a classroom-based event to an Online-flexible distance mode of imparting knowledge. Mitigating the challenges facing indigenous peoples and other ethnic groups that earn their living in remote and riverain areas requires new approaches and concomitant investment in essential skills-development and capacity building, complemented by gap-bridging GOALmeasures.has begun to take education to the homes of Guyanese in remote or riverain areas, such as for example, those along the banks of Bonasika Creek, Mahaica and Mahaicony Rivers, the upper reaches of the Pomeroon River, Moruka, Orealla, remote parts of Hogg Island, other nearby islands and other places that lack modern amenities.

The GOAL project is managed by the Ministry of the Public Service under the leadership of the Hon Sonia Parag, Minister of the Public Service.

Minister of Education, Priya Manickchand

Minister of Public Service Sonia Parag (left) presenting a certificate to Ministry staffer

GOAL’s services add to the higher education value chain. It functions as as an intermediary, broker or clearing house with student support services. Its mandate is to partner with educational institutions world-wide that provide online internationally recognized and accredited programs and courses relevant to both, the actual and perceived needs of the Guyanese economy.

GROW is another capacity building initiative of the Government developed and managed through GOAL is the Get Ready for Opportunities to Work (GROW) programme. This programme was developed for Guyanese who did not complete or who did not perform well at the Caribbean Secondary Education Certificate (CSEC) Examinations. GROW was launched countrywide on May 18, 2022, by the Minister of Education, Hon Priya Manickchand who disclosed that GROW is offered free of cost and targets Guyanese 18 years and over. Depending on their academic standing, applicants can apply for the Scottish Credit and Get Ready for Opportunities to Work (GROW)

In its first year, GOAL offered 6,000 scholarships and about 4,500 awards will be made this year.

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The 2021 WIIN programme delivered in a hybrid model of in-person and online classes at no cost to the student graduated 2,170 women from over 4000 applicants

The response to GROW has been overwhelming, and with the deadline set for June 13, 2022, over 6,000 online applications have so far been received.

The GOAL program is managed by the Ministry of Education and the Ministry of Public Service. Lot 5 Guysuco Compound, Ogle, East Coast Demerara Tel: +(592) 222-5391-95. Email: Website:info@goal.edu.gywww.goal.edu.gy

The Women’s Innovation and Investment Network Program, an exciting programme conceptualized by Minister of Human Services and Social Security, Dr. Vindhya Vasini Persaud WIIN was launched on May 8, 2021, and provides vulnerable women across Guyana with the tools for financial stability and empowerment. The signature of this programme is the “no prerequisite” for admission making it very attractive to women of all backgrounds and ages. The programme also demonstrates the government’s commitment to upskill the country’s human resources to bridge the demands of a growing economy.

Successes

Qualifications Framework (SCQF) Levels 5 & 6 Diploma or the US-Based General Education Development (GED) TheDiploma.SCQF is a comprehensive preparatory programme delivered within three (3) to six (6) months for Guyanese who completed Grade 9 of their Secondary School Education. Upon successful completion of this programme, the awardees can enrol in Bachelor’s Degree Programmes in Humanities, Commerce, Business and Management, Computer Science and Information Technology at Jain University or any other University accepting the SCQF for Meanwhile,matriculation.the General Educational Development (GED), US High School equivalency, is an intensive three (3) months programme targeting applicants who were unable to write or who did not attain passes in five (5) subjects at the CSEC level. With GED, students can be matriculated to four (4) year Bachelor’s Degree Programmes at Texila American University, University of the Southern Caribbean or any other University that accepts GED for matriculation.

Women’s Innovation and Investment Network (WIIN)

President, Dr Irfaan Ali and Minister of Human Services, Dr Vindhya Persaud at the Official Opening of the Guyana Women’s Leadership Institute. Women gathered at the Institute housing Guyana’s first business incubator dedicated to women

Studentscountrywide.received certificates accredited through UWI and ABMA-UK in various disciplines including Patient, Child and Elderly Care, Garment Construction, Graphic Design, Photography and Videography, Cosmetology, Administrative Assistance and ICT. Each class also received

The training is complemented by unencumbered access to the first Female Business Incubator launched by the Minister which provides numerous resources including writing business plans, support in marketing, quality control, access to funding and partnership to aid microenterprise.

The WIIN in Business Clinics, outreach business training workshops have been hugely successful having been piloted in Regions 5 and 6 and will be done in all of the regions to help women practically by bringing important partners to work with them, banks, NIS, GRA and other business development agencies.

Minister of Human Services, Dr. Vindya Persaud with successful WIIN graduates

WIIN enables women to meet the demands of a growing economy. Ministry of Human Services & Social Security 357 Lamaha &East Streets, Georgetown Tel: +(592) 229-2751/2842 Website: www.mhss.gov.gy / www.wiin.gov.gy

Additional Resources

The WIIN App

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The FREE WIIN App provides a free networking and advertising platform for women -owned businesses. This App managed by the Ministry of Human Services is another innovative idea of Minister Vindhya Persaud which was developed by NDMA and. 700 businesses are currently on the App. 2022 WIIN More than 8000 persons have registered for the new batch of courses which have been compiled considering the demand currently in Guyana and the list now includes newer courses, home management, television and video production. There will be more courses added before the end of the year. Minister Persaud said, “The registration has surpassed our target for 2022. The movement of this training is towards increasing women in the labour force. We speak of the gender divide and gender inequality. With WIIN, we are moving women to a state of financial independence and bridging the gender gap.”

a core component that dealt with business education and entrepreneurship which encouraged participants to start their own businesses. WIIN graduates received training on how to deal with serious social issues, including domestic violence, suicide, child abuse and trafficking in persons and received important information on resources and avenues of support available through Ministry of Human Services and Social Security. A significant number of graduates have completed business plans and started their own business and each received through a collaboration between the United Nations World Food Program and Ministry of Human Services and Social Security, $50,000 business stimulus cash grants.

60 | Invest Guyana 2022/23 INVESTGUYANA.NET Short or Long term Accomodations Duke lodge Hotel and Restaurant Event/ Conference Facility Event ArrowpointCateringNature Resort Kaieteur Falls Tour Customized Guyana Tourism Experience Flight AirlineAirPrivateVIPMeetAviationAirlineIATAHazmatCargoCharterOperationsTransportTravelAgencyGroundHandlingSecurityandGreetExecutiveLoungeJetHandlingAmbulanceCatering

75% of the land area is still intact forest, and 2.5% is cultivated. The coastline is 1 metre to 1.5 metres below sea level at high tide necessitating elaborate systems of drainage canals.

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POPULATION Approximately 786,552 with diverse culture of six (6) different ethnicities. 90% of the population lives on the coast leaving the country’s lush interior untouched.

CLOTHING Lightweight, causal clothing can be worn throughout the year. However long clothing is recommended for the evening along with mosquito repellent to safeguard against mosquito bites. HEALTH There is a risk of malaria in certain parts of the interior. Consult your doctor for the required precautions if you intend to travel there. Georgetown and coastal areas are Malaria-Free. Municipal Hospitals and Health Care Centres exist within rural and outer lying communities with medivac services available in cases of emergency. Further information can be obtained from the Ministry of Public Health on Telephone Numbers: (592) 226 7338 or (592) 226 1366. INTERNET For most customers, 4G internet service is available nationally through independent providers. Service is also available in most hotels and at many internet cafés across the country. Some hotels and restaurants provide free Wi-Fi to patrons. There are four daily papers; Kaieteur News, Stabroek News, Guyana Times and Guyana Chronicle, the national paper. There are over twenty (20) Television Stations and five (5) privately owned Radio Stations and one (1) Government operated Radio Station. RELIGION The predominant religious groups are Christians, Hindus and Muslims. Each is well represented with its own churches, temples and mosques. They are found across the country where the major landmarks featuring traditional architecture may be seen. GUYANA

ABOUT

CLIMATE Guyana is a tropical destination that is pleasant and warm for most of the year, humid, moderated by northeast trade winds; two rainy seasons (May to mid August, November to January). Mean temperature of 27°C and the average temperature range from 24°C to 31°C. Rainfall is approximately 2,300mm a year in Georgetown.

GOVERNMENT

Guyana became independent from Britain in 1966 and a Co-operative Republic in 1970, when a non executive President replaced the Governor- General. A new constitution in 1980 gave the President wide executive powers. The Cabinet is headed by the President, and there is a 65-member National Assembly elected by proportional representation. General Elections are held every 5 years.

Guyana is located on the North East Coast of South America, the Continent’s only country where English is the official language. It is located between 1o & 9o North Latitude and 57o & 61o West Longitude, bordering Venezuela to the West, Brazil to the South, Suriname to the TheEast.Capital city is Georgetown with other major towns being Anna Regina, Bartica, Corriverton, Lethem, Linden, New Amsterdam, Mahdia and Rose Hall.

The most valuable mineral deposits are bauxite, gold, and diamond. Substantial commercial deposits of oil have been recently confirmed and exploration continues. The main rivers are the Demerara, Berbice, Corentyne and Essequibo.

LOCATION

TIME ZONE GMT - 04:00

GEOGRAPHY Guyana is the fourth-smallest country in South America after French Guiana, Suriname and Uruguay; it has four distinct geographical areas: the Low Coastal Plain; the Hilly Sand and Clay Belt; the Highland Region and the Interior Savannahs. The total area is 214,970 Approximatelysq.km.

GOINVEST.GOV.GY Invest Guyana 2022/23 | 65

INVESTMENT & PROCEDURES

EXPORT

• Completed IA Progress Report (if applicable)

• Business proposal • Business registration or incorporation documents

• Outline local partner if applicable and indicate the percentage of the Labour force that is Guyanese.

• Evidence of ownership or tenancy of land/property where operations will be located

• Indicate whether your business will operate as a partnership, a sole proprietorship, or a business with a different ownership structure. If you have a board of directors, you will need to identify the members.

1. Executive Summary

• Your executive summary should summarize what you expect your business to accomplish.

Information Required from the Investor

8. Market Analysis

Acquiring Incentives for New and Expanding Projects

• Cover letter to GO-Invest making reference to an application for exemptions

• Provide an articulation of how the external stakeholders of your operations will derive direct and indirect benefits.

• In this section, you will need to use data and statistics to talk about where the market has been, where it’s expected to go, and how your company will fit into it. In addition, you will have to provide details about the consumers you will be marketing to.

• Register for Tax Identification Number (TIN) with the GRA. A TIN is a unique computer-generated number allocated to each taxpayer. All taxes are the same for overseas companies registering in Guyana as that of the local companies.

• Taxpayer Identification Number (TIN Certificate)

• Register with the National Insurance Scheme and obtain NIS Employer Number.

3. Description of Ownership, Management, and Organization

• Give clarity on whether the nature of your operations presents potential environmental risks and how you plan to mitigate them.

Investment Process with GO-Invest

• It should outline the company’s mission statement, along with a short description of its products and services. Explain why you are starting your company and include details about your experience in the industry you are entering.

• Present a clear comparison of your business to your direct

• If you did not incorporate enough facts about your products and services into your company description (since that section is meant to be an overview), it might be a good idea to include extra information about them in a separate section.

• Should include key information about your business, your goals, and the customers you plan to serve.

• Your business plan should outline the way that your organization will be set up. You will introduce your company owners and managers. An organizational chart can be included.

4. Local Content Plan

• GRA and NIS Compliance (if applicable)

Investors are required to complete and submit the GO-Invest Expression of Interest (EOI) Form and a Business proposal. Returning Investors (investors who would have received fiscal incentives under previous Investment Agreements) and those expanding their businesses are required to submit a Progress Report on their business in addition to a new EOI and an updated InvestorsProposal.arewelcome

• Register for Value Added Tax (VAT) certificate through GRA. What should be in the Business Proposal

• Your company description should also discuss how your business, its products, and the services you are providing will stand out from others in the industry.

6. Breakdown of Products and Services

7. Environmental Impact (if applicable)

66 | Invest Guyana 2022/23 INVESTGUYANA.NET

After an Investor has made the decision to embark on a business enterprise in Guyana and wishes to access fiscal incentives, a Business Plan and an Expression of Interest Form (EOI) must be submitted in triplicate to the Agency. As noted above, returning investors are also required to complete and submit the Investment Agreement Progress Report.

9. Competitive Analysis

• Completed Expression of Interest Form

to contact GO-Invest and either meet with an officer or schedule an appointment to further discuss or clarify any aspect of the application process. Returning investors are encouraged to contact the officer previously appointed to their project. All forms can be downloaded from the GO-Invest website: http://Go-Invest.gov.gy/forms/.

5. Corporate Social Responsibility (CSR) Plan

2. Description of Company

STEP 5 Packaging Requirement

In some cases, GO-Invest can assist in identifying markets for products.

Exporters should consider where they will be sourcing a steady supply of the product for export. Points to be noted are: Is the exporter the producer or will they be purchasing the product for export? If so, will the supply be consistent? Are contractual arrangements in place between the exporter and supplier to ensure reliability?

• Provide a realistic timeline to execute this plan, outline important milestones and how they are logically linked to each other.

Pertinent questions to ask include: Which countries are the main importers of this product from Guyana/Caribbean?

There are a number of items that require an export license to exit Guyana legally. These include: • Wildlife (birds etc.) (will also require a license from Environmental Protection Agency); the exporter will need to have been a legal resident of Guyana for more than a year and will require a permit from the Ministry of Agriculture; Poultry Feed, Wheat flour, Beet Sugar and Cane Sugar in Solid Form, fertilizers, Hides and Skins, Gold, Jewelry made from precious metal or rolled precious Metal, Weapons and Ammunition, Seafood (license from Fisheries is required for export).

What is the tariff applied to the product by the target country? What are the importers paying for this product?

What are the packaging requirements in the target market? Countries have specific packaging and labeling requirements for retail products. Some importers also have mandatory standards for exporters. For instance, organic produce often requires certification that no chemical EXPORT PROCEDURE fertilisers were used in their cultivation.

STEP 8 Identify a Broker

STEP EXPORT!9

• Describe how you intend to get your products and services in front of potential clients. Pinpoint the steps you are going to take to promote your products, and you will need to mention the budget you will need to implement your strategies.

Projected Financial statements for at least 3 Years (With the detailed justification of Input figures).

STEP 3 Identify Source of Product(s)

STEP 6 Acquire Appropriate License

Identify a Broker – A good broker will make the exporting process relatively easy.

13. Financials

• Specify the number of sales reps you are planning to hire and how you will go about finding them and bringing them on board. You should also include sales targets.

10. Marketing Plan

•

STEP 2 Taxpayer Identification Number Exporters are required to register with the GRA for a TIN.

Exporters should consider the best means to transport products. Does the product require certain storage conditions to avoid spoilage, e.g. refrigeration? Reliability of the shipping company should also be considered. G-Invest can supply exporters with a list of shipping companies in Guyana.

• Source of Funding (Bank Letter Addressed to GO-Invest, Audited Financial Statements, Credit Rating Report ECT. 14. List of Items for duty and tax waivers

GOINVEST.GOV.GY Invest Guyana 2022/23 | 67 and indirect competitors. You will need to show that you know their strengths and weaknesses, and you know how your business will stack up.

STEP 1 Register Business Exporters should ensure that their business is registered. This can be completed at the Commercial Registry.

• A comprehensive breakdown of items that is specific to the proposed operations as needed in phases outlined in the Project timeline.

STEP 7 Identify Mode of Transport (air/sea)

12. Project Timeline

STEP 4 Identify External Markets

11. Sales Plan

68 | Invest Guyana 2022/23 INVESTGUYANA.NET Highlights • Guyana is located in the northern corner of South America • It is the only English-Speaking Country in South America • 83,000 square miles (215,000 sq. km) • Coastline 430 kilometers • Climate between 25°C and 29°C • 80% pristine, intact rainforest cover • Approximately 737,718 with a diverse culture of six (6) different ethnicities • 90% of the population lives on the coast leaving the country’s lush interior untouched • Rainy Season (May-June, Nov-Jan) • Dry/Hot Season (July-October) • Hurricane Free • 40% of Guyana’s land is available to investors

2030405060 Sugar

Budget 2022 Highlights Agriculture will be a major anchor of the non-oil economy.

6. $66 million to further the expansion of the coconut industry/market for coconut water and coconutbased products

•

1. $13 billion will be allocated to further upgrade the Drainage and Irrigation (D&I)

2. $6 billion to support Guyana Sugar Corporation (GUYSUCO) ongoing investment in field and factory operations to turn around the industry, while considering the possibility of engaging private investor interest also in some of the estates.

Invest

Hon. Zulfikar Mustapha, MP Minister of Agriculture AGRICULTUREin

• Guyana produces 59% of food for consumption (FAO 2015)

• Employment – 13.18% of the Relative Share of Total Employed Population is in Agriculture, forestry and fishing (Labour Force Survey Q3 2021)

Guyana is uniquely poised to take advantage of production and trade opportunities in food products. Guyana is committed to the CARICOM Twenty-Five by 25 initiative, which aims to cut the extra-regional food import bill by 2025. This regional commitment is, in fact, a golden opportunity for Guyana to finally realise its potential as the breadbasket of the Caribbean.

• Tropical climate, large expanse of freshwater and vast tracts of productive land (Arable land ~ 420,000 hectares)

53.2Commodities

• Approximately 5.2% of the national budget is allocated to agriculture (G$28.7 Billion in 2022).

4. $20 million for the procurement of seed dryer for Black Push Polder 5. $1 billion to further advance corn and soya bean production in 2021 and 2022

3. $300 plus million in plant breeding, agronomy, plant pathology, entomology and valued-added products

Overview of Guyana’s Agriculture Sector Agriculture contributed 24.8% to non-oil GDP in 2021 Contribution to Agriculture GDP 2021 Percentage 1.3 Rice 16.9 Other Crops Livestock 10.2 Fishing 3.2 Forestry 5.6 Trade – 12.8% (US$330.8 M) of export earnings come from agriculture [2021] Earnings from exports a) Rice - US$ 243.2 M b) Fish - US$ 51.3 M c) Sugar - US$ 24.1 M d) Non-Traditional Agricultural Produce - US$ 12.2 M

4. Increase the use of modern communication technologies to enhance education of farmers.

1. Waivers of Import Duty and VAT on a wide range of machinery and equipment for land preparation and cultivation including agricultural hand tools; 2. Tax concessions on Agriculture Investment in Agroprocessing Facilities, Cold Storage and Packaging;

Livestock Poultry, Beef, Small Ruminants- Sheep & Goat Fisheries Aquaculture

• The low coastal plain is flat, highly fertile, and below sea level. The well–established drainage and irrigation system supports the cultivation of rice, sugar cane, fruits and vegetables, dairy and beef production.

•

• Abundance of land with fresh water supply.

9. $977.3 million allocated for livestock development 10. $743.7 million will be allocated to support the fisheries and aquaculture sectors

Opportunities in the Agriculture Sector

Crops Rice, Sugar, Corn & Soya, Coconut, Fruits & Vegetables, Cocoa and Coffee

Major Agriculture Sector Incentives

2. Increasing the productive land areas - an additional 72,000 hectares (177,840 acres) of land cultivated twice annually

3. Waivers of Import Duty and VAT on agro-processing equipment; 4. Waivers of Import Duty on a wide range of agrochemicals (e.g. insecticides, herbicides, fungicides, etc.);

GOINVEST.GOV.GY Invest Guyana 2022/23

• Attractive Fiscal incentives for investments.

Why Invest in Guyana?

1. Increasing paddy production by 70% annually moving from 1 million tonnes to 1.7 million tonnes.

8. $96.5 million to equip agro-processing and packaging facilities. These facilities, along with supportive market research, will assist producers in meeting the international market protocols for their products and allow access to new markets.

• The Hilly Sand and Clay region includes the immediate savannahs of large areas of brown, well-drained soils, which is good for beef, milk, citrus, corn, cashew nuts, legumes, peanuts, soybeans, dairy products, and orchard crops.

President Dr irfaan Ali touring fish processing plant President Dr Irfaan Ali visintg a mega farm

11. Hosting of regular Farmers Markets across the country - this will help farmers find ready markets for their produce.

Fiscal incentives offered for Agricultural investments:

• Political will/ business-friendly environment from the Government.

• Guyana’s climate is very stable in that it is not in the hurricane and earthquake zones.

Government’s Plans for Rice Expansion

| 69

• Fastest growing economy • Resource rich country • Multi-sector opportunities • Low operation costs Ideal location to access global markets

6. Concessions for large scale livestock farming.

7. $100 million allocated to advance the recently launched Agriculture and Innovation Entrepreneurship Programme (AIEP)

3. Increasing productivity by developing new varieties - to increase rice yields from 8 to 9 tonnes /ha.

5. Tax Deductible Allowances for expenditures incurred for development and cultivation purposes

etc.) • Land

real estate development in

70 | Invest Guyana 2022/23 INVESTGUYANA.NET Government Support: Rice 1. Waivers of Import Duty and VAT on a wide range of machinery and equipment for land preparation and cultivation 2. Agro-chemical VAT-free & Waivers of Import Duty on a wide range of agrochemicals (e.g. insecticides, herbicides, fungicides, etc.) and; 3. Reversed Drainage & Irrigation and Land Rent fees. 4. Vibrant Rice Research programme by the Guyana Rice Development Board, Ministry of Agriculture • Over the past 12 years, 9 high yielding varieties have been released for commercial production. • Laboratory facilities to test fertilizer quality, soil types being established. INVESTMENT OPPORTUNITIES IN RICE • Mechanization of the industry • Rice production potential in Region 9 where vast Savannah lands are available; • Increase in storage capacity and milling • Milling waste to produce energy. • Downstream processing of rice into pastas, noodles, cereals, snack foods, etc. Guyana Rice Production and Exports Year 2019 2020 2021 Rice Production (MT) 682,418 687,539 558,995 Quantity Exported (MT) 526,617 588,783 435,421 Export Value (US$) 222,726,000 243,239,000 201,416,568

a drying and storage silo to ensure adequate storage capacity and reducing postharvest losses • All taxes

•

40% Tariff within the CARICOM region on all sugars related products coming into the region. • White

price averages US$490 per MT vs. brown

Corn

for corn

47 KM road which will ensure

duties on the imports of machinery, equipment, and spares have been removed. Rice being harvested and bagged

has

agricultural development

during 2021

61,000 hectares of prime farmland for corn and soy cultivation • For

and 2022

MT. • Guyana benefits

cane cultivation and sugar processing. • Land

for

infrastructural development related to corn and soy cultivation. Specifically: • For

Soya • Up

• Access

soya bean producers • An

cash crop, aquaculture, corn, soya, etc.) Opportunities SKELDON - Refinery (industrial grade white sugar, glucose, raw brown sugar), Agro energy, Ethanol ALBION- Agro energy, ethanol, bag raw brown sugar ROSE HALL - Ethanol BLAIRMONT - Packaged sugar, refined brown sugar, bag sugar ENMORE - Packaged sugar UITVLUGT - Bag sugar and distillery Guyana Sugar Production and Exports Year 2019 2020 2021 Sugar Production (MT) 92,256 88,868 58,025 Quantity Exported (MT) 81,409 61,961 33,386 Export Value (G$M) 5,922 5,398 3,224 OPPORTUNITIES IN CORN AND SOYA Corn and soybean are the major ingredients demanded in poultry feed and fish feed. Guyana Corn & Rice Production 2019 2020 2021 Commodity Volume(MT) (USD)Value Volume(MT) Value (USD) Volume(MT) Value (USD) (&CornRice) 68,874 28,792,988 76,746 25,865,133 49,711 22,746,733 MealBeanSoya 39,532 20,522,698 31,385 17,641,749 36,241 25,240,475 Government

85,000 acres available in Intermediate Savannah (Ebini) • Special

OPPORTUNITIES IN SUGAR Regional market for industrial grade white sugar - approx. 200,000 MT. The Guyana market for white sugar is 20,000 from a waiver of the sugar sugar US$350. to a highly trained group of professional in sugar for high-grade close proximity to the main city (industrial communities, for value-added (livestock, Support – and to incentives are available and allocation of approximately G$1 Billion (US$5Million) been earmarked (G$500M) ($492M) further the construction of a accessibility to the construction of and

sites, hotel development, residential

• Research and Development Initiatives including production of clean planting materials through embryos and the utilization of coconut by products to produce biochar and potting mixtures.

GOINVEST.GOV.GY Invest Guyana 2022/23 | 71 OPPORTUNITIES IN COCONUT Guyana Coconut Production Year 2018 2019 2020 2021 Coconut (MT) 13,877.3 14,020 14,850 16,058 Coconut Water (MT) 17,129.8 14,692 15,653 20,486 • World Demand: the global coconut products market is valued at US$ 5.7 billion • Expected to increase to US$ 9 billion by 2025 (Coherent market insights, 2020) • Coconut Growth Projections

•

Government Support – Coconut Free distribution chemicals to help to improve productivity by addressing pest and disease management and fertilization.

•

• Tap into the US$500 million bottled coconut water industry, Expansion and mechanization of coconut estates Coconut value added products – flour, milk, desiccated coconuts, virgin coconut oil Coconut Waste Management converting coconut waste into green fiber and bio char for soil amelioration and possibly air and water filtration.

• The global coconut products Market is forecasted to grow at a compound annual growth rate of 9.65% during the forecast period (2020-2025).

• Supply of quality and affordable planting materials via the establishment of Coconut Nursery in main coconut producing region National Coconut Sensitization Programme.

OPPORTUNITIES IN POULTRY Guyana Poultry Production Year 2018 2019 2020 2021 Broiler Meat Production (Million kg) 42 38.7 42.7 49.8 Table Eggs (Millions) 32 46.6 62.5 57.3 • Guyana is self-sufficient in fresh/ frozen poultry meat products but imports in excess of US $3 Million worth in processed products annually. • Increase in demand: local market, tourism coupled with offshore oil sector. • Maximize profitability through value added product development. • Excess production can be exported to niche’ markets regionally and internationally. OPPORTUNITIES IN BEEF Guyana Beef Production Year Beef Production(MT) Actual 2017 1,979 2018 2,128 2018 2,828 2020 2,655 2021 3,023 Projected 2022 3,114 2023 3,207 2024 3,303 2025 3,402 2026 3,743 • +2 % forecasted growth in global production and exports for 2021 • Halaal Value for meat and milk, for both large and small ruminants • Production of Value addition products such as minced beef, salted beef and further processing etc. • CARICOM import for Beef products amounted to US$40.8 Million (2018) • Commercial production of pelletized Fodder. • Production of leather from hide. OPPORTUNITIES IN SMALL RUMINANTS Guyana Small Ruminant Production Year 2019 2020 2021 Mutton Production (kg) 65,443 57,071 69,012 Chevon Production (kg) 32,745 19,609 37,476 Total Production (kg) 98,188 76,680 106,488 Black belly sheep

OPPORTUNITIES IN AQUACULTURE

72 | Invest Guyana 2022/23 INVESTGUYANA.NET

3. CARICOM imports mutton and lamb is at 10,343 tons annually from Australia and New Zealand. • Four major markets for small ruminant meats in CARICOM are The Bahamas, Jamaica, Trinidad and Tobago and Barbados • Jamaica imported 1500 tonnes • Guyana imported 13.8 tonnes of mutton valued at G$ 21 Million.

3. Appropriate breeding stock, training, and facilities for cutting, packaging, and storage of meat.

1. Restore budgetary support for adequate provision and maintenance of drainage and irrigation systems, and farm-to-market access roads.

7. Tax concessions on Investment in Agro-processing Facilities, Cold Storage and Packaging 8. Waivers of Import Duty and VAT on Agro-processing equipment.

Enabling Environment Increase productivity through research and development into new strains of rice and improved pest control methods by the GRDB.

1. World ovine meat exports expanded by 6.3 percent to just over 1 Million tonnes (2018)

9. Reversal of land lease fees across all sectors and water charges back to 2014 rate, and the reversal of land taxes and drainage and irrigation charges back to 2014.

1. No VAT on electricity and water 2. No VAT on building and construction materials 3. The reversal of the policy on used tires

2. CARICOM imports for mutton/chevron products amounted to US$19 Million (2018)

3. Guyana’s comparative advantage is 2.15 times higher than any South American country’s comparative advantage. Government Support 1. Reversal of taxes on fishing equipment, etc. Provision of Technical Support to Farmers, R&D, Extension Services Access to suitable lands, and support for Regularizing Land Tenure Improved infrastructural support for Brackish Water Shrimp in Region 6 Exemption from Import Duty on fishing vessels, feed, seed stock, pond equipment and materials, water testing equipment and chemicals. 6. Exemption from Import Duty and VAT on fish/seafood processing equipment, packaging material and other inputs for processing

1. Develop a commercial-scale aquaculture sector to supply the international market via the establishment of • Shrimp Hatchery Facility • Fish and Shrimp Processing Facility • Feed Production Facility 2. Potential Markets: USA, Mexico and the EU. • The USA imported over 550,827 MT of frozen shrimp and prawns valued at US$4.8 billion.

General Incentives to Benefit Agriculture

7. Address deficiencies in D&I Systems across the Low Coastal Plain 8. Provide farm to market roads in Regions 6 and 5

4. The reversal of the 8-year limit on used vehicles 5. The reversal of high renewal fees for motor vehicle license. 6. Removal of 14% VAT on all-terrain vehicles

2. Zoning to minimize conflicts between livestock farmers and rice and cash crop farmers.

Minister Mustapha visiting the processing facility for Morning Glory rice cereal

Guyana Marketing Corporation’s modern refrigerated facilities for storage of fresh produce

The President of Guyana, Dr. Mohammed Irfraan Ali, who has the lead responsibility for agriculture in CARICOM has committed to Investing in Vision 25 by 2025 and is actively pursuing this goal through several initiatives and special projects in Guyana. Initiatives such as the Barbados Black Belly Sheep Project, Brackish Water Shrimp Production, Prawn Production, Marine Cage Culture, and the Agriculture and Innovation Entrepreneurship Programme which focuses on niche vegetables all aimed at expanding and increasing agriculture production in the respective industries. Also, the production of new commodities such as wheat and fresh roses are being explored. Guyana’s agriculture sector is becoming one of the most diverse, productive, and sufficient sectors in the region. The Government of Guyana invites both local and foreign investors to seize the countless investment opportunities of doing business in our transforming agriculture sector.

Guyana’s agriculture sector is on a transformative pathway with investment being an important driver of change to increase production and ensure food security. Despite challenges such as climate change and increasing food prices, Guyana’s agriculture sector is growing as a sustainable and resilient agriculture sector is being developed. The International Monetary Fund has stated that Guyana’s real GDP is projected to grow by 47.2% by year-end, with the agriculture, forestry, and fishing sectors expected to expand by 8.9 percent, driven by growth across all subsectors.

GOINVEST.GOV.GY Invest Guyana 2022/23 | 73

Hon. Zulfikar Mustapha MP, Minister of Agriculture

In recognising the agricultural potential of Guyana and by extension CARICOM, the Government of Guyana remains steadfast in creating an environment that is conducive for large private sector investment in areas along the value chain such as production, processing, packaging, storage, transport, and distribution. The Government of Guyana welcomes the private sector, an integral partner in achieving the 25 by 2025 vision, to explore the new and emerging agri-business opportunities in Guyana’s transforming agri-food system.

The Agriculture Sector and Investment Opportunities

The Government of Guyana continues to work earnestly to create an enabling environment that makes Guyana a premier choice for investors. Investors in the agriculture sector are provided with waivers of import duty and VAT for agro-processing equipment, agrochemicals, and agricultural machinery for land preparation and cultivation. The Government of Guyana continues to invest in the necessary infrastructure, such as farm-to-market roads, drainage and irrigation, opening new farmlands and agro-processing facilities to ensure adequate food is produced and livelihoods maintained.

74 | Invest Guyana 2022/23 INVESTGUYANA.NET Guyana / Barbados Partnership on Food Security, a Model for other CARICOM States

His Excellency, Dr Mohamed Irfaan Ali said the partnership between Guyana and Barbados sets a model for other Caribbean Community (CARICOM) states to follow, to achieve food security and confront some of the global challenges facing the region, including the rising cost for food.

President Ali announced that Guyana is currently preparing to ship to Barbados, the first set of prefab shade houses that will be assembled by young people.

Guyana-Barbados Partnership President Ali spoke of the economic partnership between Guyana and Barbados, that aims to provide prosperity and food security to the people of both states. Dr, Ali said once the results of this model is realised, it can be replicated across the region.

Further, Guyana is setting aside acres of land for young people, single women, as well as persons living with disabilities, under the Black Belly Sheep Project.

He said, “we are trying to demonstrate that we want to create a trusting environment, an enabling environment in which we must work, trusting each other. This is an important factor in advancing the relationship. It is because of the new dynamism in this relationship, this trust that I am talking about that today, we have more than 150 Guyanese participating in this Agro Fest, we have more than 55 companies participating, and this is only the Amongbeginning.”the initiatives being undertaken between Guyana and Barbados, is the establishment of a food terminal in the latter country. Seven acres of land has been identified for the terminal, which will boast a cold storage facility and processing and packaging plants.

As the two countries seek to merge its tourism product, discussions are ongoing for the training of 6,000 Guyanese in tourism and hospitality.

“This relationship must advance security, and we are not talking about security in the narrow sense of physical security…the security we are talking about in the Guyana-Barbados model, is how we can ensure our countries remain secure under the environmental threats, and the threats of climate change,” the President emphasised.

Prime Minister of Barbados, Mia Amor Mottley said the relationship between Guyana and Barbados dates back 170

“If we produce more of what we consume, we will help to break the cycle of consumption that comes from extra regional sources, and you have an excellent opportunity now because Governments in the region are ready and willing to embrace you on this journey of transforming our food infrastructure, our food value chain.”

H.E. Dr Mohamed Irfaan Ali, President of the Co-operative Republic of Guyana President Ali was at the time delivering the feature address, at the opening of the 18th ‘Agro Fest’- The National Agricultural Exhibition, at Queen’s Park, Bridgetown, Barbados. He is accompanied by several government representatives, including the Minister of Agriculture, Hon Zulfikar Mustapha, the Minister of Tourism, Industry and Commerce, Hon. Oneidge Walrond and a large delegation of Guyanese business “Likepersons. many other developing economies, when there is a shortage of supplies, we are not the top priority for the demand that exists. That is why we have to do this, and we have to fix it as a collective. We have to understand that the challenges that will come, will impact us the most and our only tool to mitigate those challenges is to increase production and remove sometimes, the thoughtless impediments to trading between our region,” President Ali said. In addition to increasing agricultural production, he said people should aim to consume food that is grown and produced within the region. Farmers, producers and other private sector partners, have a major role to play in this, the Guyanese Head of State said.

[From left to right in the foreground] Chairman of the Private Sector Commission, Paul Cheong; Prime Minister of Barbados, Hon. Mia Mottley; H.E. Dr Mohamed Irfaan Ali, President of the Co-operative Republic of Guyana and Minister of Agriculture, Hon. Zulfikar Mustapha.

Guyana will be facilitating a visit from a team from neighbouring Brazil, which will be working with residents, farmers and distributors, on the use of technology to advance the agriculture Additionally,sector. a number of young people from Barbados are in Guyana, receiving training in Shade House agriculture development and management.

GOINVEST.GOV.GY Invest Guyana 2022/23 | 75

Plans are also in place to utilise the reservoir for rare fish, shrimp and prawns which will be packaged and stored at the facility. President Ali has committed to providing technical and other support in this regard.

President Ali and PM Mottley visiting the site for Guyana / Barbados Food Terminal.

Seven acres of land in Lears, St Michael, Barbados, has been earmarked for the construction of the Guyana-Barbados Food Terminal. This facility when completed, will store more than 40 containers of food, and will be equipped with a processing and packaging plant, as well as cold storage facilities for seafood. The Complex will also include a large reservoir for water storage and land allocated for crop production.

“For that to happen, these two countries have to lead the way in changing the March, in Belize, at the CARICOM Heads of Government Meeting, but were able then to meet in Guyana last week in perhaps one of the largest agricultural investment forum ever to be held in this Caribbean region in the postindependence era.” way we think, the way we relate, and that is why at the political and the policy making level we are driving that, at the public service level, the bureaucratic level, the public sector level,” President Ali Presidentstated.

“We believe that we are standing on a strong platform and that it is time now for us to move to the next level, especially as we face these multiple challenges that have confronted us, over the course of the last two years…

also worked back and forth over the last 20 years, boosting Barbados’ construction and agriculture sectors.

He said it is beyond a Guyana/Barbados initiative, noting that the intention is to create a model to demonstrate to CARICOM that the two states can work in the context of the CARICOM Single Market and Economy (CSME), even as the region strives to reduce its food import bill by 25 percent by 2025.

Guyana / Barbados Initiative to Drive Food Production Food Terminal Set to be Built in Barbados

President Ali and Minister Mustapha have been able to move with lightning speed over the course of the last 18 months, to put this region in a position where we not only endorse the plan in

Guyana’s President, Dr. Mohamed Irfaan Ali, while in Barbados for Agro Fest 2022, was taken on a tour of the site by Prime Minister Mia Amor Mottley of the Republic of Barbados, along with Barbados Minister of Agriculture, Food & Nutritional Security, Indar Weir.

Irfaan Ali affirmed that Barbados has a reliable partner in Guyana and the country is ready to remove all impediments, and accelerate the plans to expand agriculture production and food security within the Caricom states.

“I am happy that I’m here, and we’re having discussions now on how we can

years, when Barbadians left in droves just after emancipation to Guyana, to help build the sugar industry and the factories. Guyana was able to repay that by leading the process of industrialisation in Barbados, in the Guyanese1950s-1070s.have

“At the end of the day, this is about bringing opportunities to the people of Barbados and Guyana. It is about enhancing their ability to have improved livelihoods, and if all of us embrace that perspective, we wouldn’t look at impediments, we will look at solutions,” he stressed.

President, Dr Mohamed Irfaan Ali and Prime Minister, Mia Mottley overlooking the reservoir President Ali commended Prime Minister Mottley for her astute leadership in moving the process forward for the construction of the terminal, which is expected to facilitate the storage and movement of food between the two countries and others in the Caribbean Community (CARICOM).

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President Dr Mohamed Irfaan Ali and Prime Minister Mia Mottley of Barbados have moved with expediency to fast forward the plans outlined in their joint initiative established between Barbados and Guyana to expand their partnership and collaboration to expand trade between the two countries and target opportunities to enhance food production and reduce the high annual food import bill of the Caricom region.

One area which has been highlighted as an area ripe with opportunity is the high consumption of mutton in the Caricom member countries.

Since then Guyana and Barbados have advanced discussions and the initiative has been significantly expanded in scope through their collaboration. Barbados has agreed to provide Guyana with 1,000 Head of Black Belly Sheep which will be shipped to Guyana to expand the breeding programme to fulfil mutton demand between Guyana and Barbados initially.

Already, 78 farmers have signalled their interest in the project and have signed up, making about 1,325 acres of their land available. The farmers have been assured that the government will give full support to the industry to prepare their fields for the initiative.

CARICOM alone imports 7,900 tonnes of mutton at a cost of US$48 million annually. The four major markets in the region are the Bahamas, Jamaica, Barbados and Trinidad and Tobago. From 2016 to 2019, the industry has grown in CARICOM from US $36 million to close to US$48 million.

The Ministry of Agriculture is working with the Barbados authorities to land the 1,000 Barbados Black Belly Sheep, on Guyana’s shores within the third quarter of 2022.

use these facilities to increase revenue streams whether it’s catfish production, tilapia or shrimp, and the technical team from Barbados and Guyana will work together and look at all the PMpossibilities.”Mottley outlined some of the plans her country has to revitalise the agriculture sector with support from the Government of Guyana in the area of aquaculture and the production of new crops to meet the regional demands. She also spoke of plans for the production of honey, noting that the Caribbean can be a global leader in this Followingarea. the site visit, the team went into a meeting at the PM’s residence to meet and set timelines to move ahead with the joint ventures outlined.

His Excellency, Dr. Mohamed Irfaan Ali had launched the Black Belly Sheep Project in Mahaica-Berbice (Region Five) on March 27, 2022 as his administration moves to intensify Guyana’s agriculture programme and target this lucrative “Wemarket.have right within our arms’ reach a market that can generate a value of US$48 million annually. And who supplies CARICOM right now? Australia and New Zealand. With the cost of freight and logistics the cost increases, it is becoming more and more expensive, that is why this is a low hanging fruit, CARICOM is right within our arms’ reach,” the President emphasised.

President Ali was leading a Guyanese delegation to participate in Barbados’ ‘Agro Fest’ - The National Agricultural Exhibition, at Queen’s Park, Bridgetown. He was accompanied by the Minister of Agriculture, Hon. Zulfikar Mustapha, Minister of Tourism, Industry and Commerce, Hon. Oneidge Walrond, and other technical officers. Guyana is looking to expand its local production above 7,000 tonnes at the end of a five-year period. This will require a capital investment of over $231.8 billion (US$175 million) and approximately 25,000 acres of land. The expected earning is estimated at over $8.6 billion (US $43 million) annually.

The Guyana Government wants 20 percent of the sheep farms to be led by women and 35 percent of young people below the age of 35 involved. Government in its 2022 budget earmarked $28.7 billion to ensure the rapid growth and development of Guyana’s agriculture sector. Investors who may be interested in this project can make contact with Guyana’s Ministry of Agriculture.

Guyana and Barbados Target Mutton Production with Black Belly Sheep Project

The world import value on mutton and mutton products is US$ 8 billion.

Dr Irfaan Ali in January 2022 launched the Agriculture and Innovation Entrepreneurship Programme to bolster the agriculture sector, empower youths and create Thejobs.President

“Whatbasis. will take Guyana forward is what we are doing here; building responsible leadership and having young people lead in that responsible leadership because you are the ones who will inherit this Guyana that we want to build, and you have to be a key part of building that responsible leadership.”

“So, the Shade House project is moving very rapidly and we’re hoping that at the end of this 100, we can go to a different part and start build, but in all for this project we’ll be building 300 Shade Houses for the young people,” the Minister said in a recent interview.

President Ali’s Agriculture and Innovation Entrepreneurship Programme

The Head of State noted that the aim is to link the country’s food security strategy to the regional food security system as Guyana continues to develop its agricultural potential.

One of the constructed shade houses built for young farmers

A Major Success Story Minister of Agriculture, Zulfikar Mustapha M.P, said the President’s Shade House initiative has been so successful that the Ministry will be expanding the project to reach a wider section of young farmers.

Additionally, with the shade house initiative moving apace, farmers will be able to cultivate the targeted highvalued crops including carrot, broccoli and cauliflower, but also the initiative has expanded to allow the cultivation of a variety of other crops.

The project which was launched in January, 2022 with the aim of initially constructing 25 Shade Houses. However, the government will be constructing an additional 275 Shade Houses that will benefit farmers across the country.

said that the programme will be one part of a “macro vision” that would eventually be expanded to every region in the country and stated that the Government will provide all the resources and materials to develop 25 Shade Houses in the first phase which will be used to house large volumes of high-value crops such as broccoli and Thecauliflower.project would be done through interagency and inter-ministry support systems that will see collaboration from the Ministry of Agriculture, the Ministry of Culture, Youth and Sport, the Ministry of Tourism, Industry and Commerce and the Joint Services, among other groups.

“So while we’re working on one hand to expand local production for the local market, we are already eliminating the barriers to the regional markets, so that we are going to expand this progressively until we are able to reach into the regional market also.”

Theannually.”President

He noted that the government is close to completing 54 shade houses, some of which are already producing. He said the produce are being marketed and sold locally to consumers including the Marriott, Pegasus and other hotels, as the demand for food items increases.

emphasised that the programme will be expanded in the future to have about 300 Shade Houses across the country. These shade houses, he noted, will be managed by past and

a Major Success Government Set to Build 275 More Shade Houses present agriculture students who will form themselves into a company, with each becoming a shareholder. In addition, an advisory committee would assist them in setting up and coordinating their company and operations. They are also expected to manage their business on a rotational

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The President said that according to data, the shade house production per cycle is expected to be 3000 pounds, and with three cycles per annum, it will jump to approximately 9000 pounds per Theyear.wholesale value of this, he said, is $57 million, while the retail value stands at approximately $112 million. “So you are talking here about a business that can generate in a net sense using these three costs, close to $60 to $70 million

His Excellency

“We are looking to build 100 Shade Houses at Mon Repos in the first instance, and also to build Shade Houses across the country.

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President, with responsibility for Finance, represented the Government of Guyana at the CDB’s 2022 Annual General Meeting. calls for Ali’s Development Vision to be Fast-tracked the Region's Food Import Bill by 25 per cent 2025 Guyana Chung Conference Centre 1/2 Orchid Drive, Liliendaal, Greater Georgetown, Guyana, South America. +592-222-7503/4 accc@accc.gov.gy www.accc.gov.gy directors provide competent level

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2019/20 | 39 Arthur

Dr Leon made the appeal while delivering the feature address at the Caribbean Development Bank’s (CDB) 2022

Guyana is not only known for its long grain rice, but is steadily improving on the different varieties, such as aromatic. In the very near future an aromatic rice variety will be released.

NORTH AMERICA LATIN AMERICA EUROPE

GUYANA’S RICE Meeting International 2021Demands

CARICOM

Rice and by-products of rice are exported in various forms such as white rice, parboiled rice, cargo rice, broken rice and rice bran, and are packaged from small quantities of 1 kg to bulk.

Over the years, Guyana continues to produce high yielding varieties to meet both the local and international Amarkets.listofexporters

Guyana’s rice is being exported to diverse markets around the world that include countries in CARICOM, Latin America, North America and Europe.

In an effort to promote healthy food, Guyana in collaboration with the Inter-American Institute for Corporation in Agriculture (IICA) has embarked on a research project to produce bio-fortified rice, which is nutritionally enhanced with zinc. This research is currently being conducted at the Guyana Rice Development Board’s Rice Research Station. This is the first of its kind in the Caribbean region.

TOTAL EXPORT DESTINATIONS: 43 countries

of Guyana’s rice can be found on the Guyana Rice Development Board website: www.grdb.gy

In keeping with international standards, the rice is certified by the Guyana Rice Development Board’s Central Laboratory, which is ISO 17025 certified by the “General Requirement for the Competence of Testing and Calibration Laboratories” of the Jamaica National Agency for Accreditation. The Laboratory is also GYS 170 certified for the “General Requirement for the Operation of a Laboratory” by the Guyana National Bureau of Standards (GNBS).

TOTAL RICE PRODUCTION: 500,000mt TOTAL RICE EXPORTS: 435,000mt

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For over a century rice has been a staple food in the diet of Guyanese, which has led to an increase in its cultivation. In 2021, Guyana has produced over 13,000,000 mt of paddy, resulting in the production of over 500,000 mt of rice, with over 435,000 mt exported to 43 countries.

President Ali commended the bank for this initiative, noting: “Any private sector institution that is looking in a forward way at improving things for a country must be responsive to national development priorities, they must exercise responsibility to the people they serve, re-engineer the way they do things and must re-energize themselves to meet the changing environment. And I’m very happy to say that Demerara Bank has demonstrated its leadership in every single area that I’ve identified.”

President Dr. Irfaan Ali Minister of Agriculture Mustapha Zulfikar presenting a disbursement letter to one of the first farmers who received a loan from the Farmers’ Credit Line prevent the charges from being passed on to consumers at the market.

Minister of Agriculture Zulfikar Mustapha called the initiative “timely,” as the government continues to invest in rice farming. He noted that the initiative opens a door for opportunity and expansion for local rice farmers.

The Bank has received 193 applications in just under three weeks and has approved President,20.Dr Irfaan Ali acknowledged the timeliness of the new loan programme, stating that the initiative would significantly enhance farmers’ ability to boost their productivity and increase the country’s capability to reduce the region’s food-import bill by 25 per cent by 2025.

Recently, President Ali announced that the government would be purchasing and distributing, free of cost, $1 billion in fertilisers to farmers all across Guyana as a means of absorbing the rising global costs for the commodity and to

“Once farmers have easy access to credit facilities, then they are better able to make the necessary investment in their operations; therefore this programme is welcome. As Minister of Agriculture, I believe this Farmers Credit Line programme will bridge the cash-flow gap that many of our farmers experience,” Minister Mustapha said.

President Ali noted that this new credit line would provide the farmers with the resources to advance their operations and directly supplement the government’s vision of catering to the rising production costs worldwide.

He noted that the growth of Guyana’s economy provides many opportunities for investment and trade and agriculture will remain one of the critical pillars of Guyana’s economy, noting that the rice sector in particular has had a major impact on Guyana’s economic growth and Gross Domestic Product (GDP).

Demerara Bank Launches Credit Line for Rice Farmers

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Demerara Bank’s Chief Executive Officer, Pravinchandra Dave

In 2021, the industry also benefited from increased markets, as the People’s Progressive Party/Civic (PPP/C) government successfully secured the British Virgin Islands (BVI), and the European nations of Estonia and Slovenia as lucrative buyers of Guyana’s Therice. country was also able to solidify a standard rice-supply agreement with its sister country, Barbados, to ensure that the island nation has a steady supply of the staple.

Meanwhile, Demerara Bank’s Chief Executive Officer, Pravinchandra Dave, stated that the Bank envisioned the initiative to offset the significant changes in the cost of production and decided to extend a hand to the farmers to allow them to improve their production. He noted that as part of the “Farmers’ Credit Line,” initiative, the bank has waived processing fees and commitment fees to widen the door further to allow easier access to the bank’s loan facilities.

Demerara Bank Limited in May launched its no-collateral business loan, the “Farmers’ Credit Line,” which is aimed at providing better access to funding for rice farmers across the country. The loan amount ranges from $1 million to $1.5 million with a 6.5 per cent interest rate per annum.

The Guyana Manufacturing and Services Association (GMSA), which was a key stakeholder in the establishment of the Made in Guyana Certification Mark Programme, and its Executive Director Mr. Nizam Hassan committed to supporting the programme and encouraging other Guyanese companies to apply for certification. For further information, please contact the GNBS: 219-0064-66 or WhatsApp: 692-4627 | www.gnbsgy.org/certification/made-in-guyana-certification/

Amy’s Pomeroon Foods is the second company to be certified with the “Made in Guyana” certification for its range of locally made Coffees. Mr Louis Holder, CEO and staff (at right) with Executives of the GNBS regardless of size or product type. Only products meeting the established criteria with certification by GNBS, would be authorized to use the Made in Guyana mark. The new Certification Programme became active in January 2022, and local companies could now apply to the GNBS to use the Made in Guyana mark. The period of Certification is for one year, with renewals based on GNBS assessments conducted during the certification period to ensure continued conformance to the established criteria. The Certification Services Department of the GNBS stands ready to offer the requisite guidance to all sizes of businesses that are considering to apply for this mark of quality. To date, a total of four long serving Guyanese manufacturers (three being Agro Processors) of well recognized brands and products which are sold locally and internationally have been certified and approved to carry the “Made in Guyana” which is a signature for authentic Guyanese made products.

Fibre Tech Industrial Plastics (FTIP), became the first Guyanese company to achieve this certification, followed by Amy’s Pomeroon Foods for its range of Amy’s Pomeroon Coffees. Additionally, Precision Global Inc. (PGI) has since received its certification to use the Made in Guyana Certification Mark on its products branded ‘Only Coconuts’ and most recently certification was issued to the National Milling Company Ltd (NAMILCO) to be applied to its range of Flours and other milled products.

The Certification Programme provides an affordable framework for the development of quality systems to enhance the competitiveness of Guyana’s manufacturing sector. The Made in Guyana programme is voluntary and open to all manufacturers and producers of local products,

With a focus on increasing exports and setting quality standards for Guyanese manufactured products the Guyana National Bureau of Standards (GNBS) conceptualized the “Made in Guyana” certification mark after consultation with stakeholders. The Standards Act No. 11 of 1984 authorises the GNBS to use its ‘Made in Guyana’ mark on products with set criteria, once they comply with the terms and conditions of the programme. The ‘Made in Guyana’ mark is a registered mark that aims to provide recognition to locally manufactured products on the local and international markets. Through its use, the GNBS is looking to enhance competitiveness for authentic Guyanese products certified under the programme, while also creating and promoting brand recognition and market advantage for participating businesses. The “Made in Guyana” certification mark was unveiled by First Lady Arya Ali at the GNBS’ National Quality Awards Ceremony in October 2021 as a signature of quality for authentic Guyanese made products.

GNBS Launches “MADE IN GUYANA” Certification Programme

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Agro Processors Lead the Way Targeting Increased Exports

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Meanwhile, during the interactive session, General Manager of Guyana’s Hope Coconut Industries Limited, Ricky Roopchand noted that there is a major issue that is hampering the import and export of Coconut Seedlings.

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He noted that the 10 Coconut Nurseries across Guyana are capable of producing 206,000 Coconut Seedlings at full capacity.

Coconut Seedlings at NAREI Nursery

at Agri-Investment Forum and Expo in May 2022 in Guyana, Mr Ansari Hosein, Executive Director of the Caribbean Agricultural Research and Development Institute (CARDI), gave some insight into the the Regional Coconut Industry.

China, the largest importer of de husk Coconuts, has increased imports from US $62 million in 2012, to US $401 million in 2021.

theGuyanaSeesCoconutCaribbeanIndustryExpansionAmongTopProducers

The red palm mite and lethal yellowing are among some of the pests and diseases that also pose challenges. Despite these challenges, there is great interest and a number of regional companies and governments have invested heavily in the sector.

The global Coconut Industry is expanding and so is the industry in the Caribbean, with Guyana among the top Speakingproducers.

Mr Ansari Hosein – Executive Director, CARDI

“Out of 70 billion Coconuts harvested annually, at least 10 billion are used for Coconut Water alone. The global market is estimated to increase from US$11.5 billion in 2018 to more than US$30 billion in 2026,” he stated.

“Long time ago when we spoke about liquid gold, we would normally be speaking about oil, but Coconuts have the potential to be liquid gold, as well.

In the Caribbean, the demand for Coconuts between 2016 and 2020 has grown from more than US $8 million to US $10 million, Hosein said, while regional production is projected to move from 313, 000 tonnes in 2010 to more than 726, 000 tonnes in 2023.

“We have a major bottleneck in terms of getting material in the country among CARICOM, where the phytosanitary conditions are a major bottleneck. I think it’s draconian, to put it in another term, you can’t even move anything,” Roopchand said.

Guyana is among three regional countries that account for more than 90 per cent of that production, producing 20 per cent with the Dominican Republic producing 59 per cent, and Jamaica, 12 per Notingcent.that there are a lot of prospects for the development of the industry in the region, Hosein highlighted a number of strengths, such as the acreage where some rehabilitation is needed and room for expansion and development exists. Hosein noted that through a new project, more than 100 linkages were developed with partners, such as the European Union, CARDI and other regional and international agencies. He added that a growing number of regional governments are willing to support the Coconut Industry. But while there is scope for development, the industry faces many common challenges, including poor agricultural practices, accessing equipment and planting materials. Access to capital and the need for better infrastructure were also highlighted as challenges, along with trade barriers in some countries.

The PPP/C Government, since taking office in 2020 has made tremendous strides in providing support to the various stakeholders in the Coconut Industry. To revive the industry, several Coconut Nurseries were set up in various parts of the country to encourage the cultivation of Coconuts. Guyana Bottled coconut water

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The industry has also grown significantly in Guyana over the past 10 years with increased production of a number of Agro-processed Coconut products led by Bottled Coconut Water, Virgin Coconut Oil, Coconut Flour, Copra and Shredded Coconut, many of which are attractively packaged for local consumption and export. With high demand for these products the opportunities to invest is now.

“Guyana could supply other places with Coconut planting materials and we need, at this time, to import some 18-month variety from Suriname, but we can’t do it,” Roopchand noted. In response, Hosein acknowledged the challenge but noted that it is necessary to prevent pests and diseases from entering another country. He said these policies can only be changed by the individual territories.

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With a high worldwide demand for fresh produce, Guyana through the New Guyana Marketing Corporation and the private sector have been persevering to increase Guyana’s fresh produce exports to the Caribbean, North America and Europe primarily to satisfy the Guyanese and Caribbean Diaspora. With a new thrust to expand the Agriculture sector in Guyana, there is a great need to source new markets for a larger volume of produce. Through the new partnership with Barbados, Guyana has a great opportunity to capture a large slice of the lucrative markets of Barbados and the Caribbean Islands. In addition, the tourism industry across the region currently purchase most of its fresh fruits and produce from extra regional sources. With a regional mandate led by Guyana to reduce the high regional food import bill, Guyana with its vast land mass and many rivers is ideally positioned to expand its Agriculture production and create a diversified economy. In this regard, Minister of Agriculture, Zulfikar Mustapha at a recent meeting with riverine farmers in Region Seven (Cuyuni – Mazaruni) encouraged them to expand their production of root crops such as Cassava and Sweet Potatoes. Minister Mustapha told the farmers that a ready market exists to fulfil the demand for root crops in several Caribbean Community (CARICOM) states and promised to secure markets for the staples and their by-products.

Minister of Agriculture, Zulfikar Mustapha engaging a farmer in Bartica

Patrons purchasing root crops at Lusignan Farmers' Market

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The Minister also disclosed that during his visit in May last to Barbados with President Dr. Irfaan Ali for the country’s National Agricultural Exhibition – Agro Fest – many interests were expressed in accessing cassava Ffour. He told the farmers that the Government will work along with them to develop a processing facility in the region and will also help to package and sell their products through the New Guyana Marketing Corporation.

Farmers Encouraged to Expand Production of Root Crops with High Demand for Fresh Produce

The Minister noted the concerns raised by the farmers and also offered to provide all the relevant services available through his Ministry to support their efforts at increasing their production volumes.

“We can also provide cassava mills to help farmers as was done in Region Nine where about 50 cassava mills were donated to villages to produce cassava flour,” the Minister stated.

Guyana expended approximately $30 million annually importing dairy products but the country is now pursuing a multifaceted strategy to satisfy all dairy and livestock needs including beef production locally. Vice President Dr. Bharrat Jagdeo, during a recent outreach activity in Region Five (Mahaica- Berbice), announced that the country would soon import 2,000 milking cows from Brazil. Guyana’s Minister of Agriculture Zulfikar Mustapha, further explained that the importation of these cows are part of a wider plan to develop the local dairy subsector to be self-sufficient in meeting local demand and reducing our high import bill. “We are seeking investors to purchase dairy cattle in Brazil and deliver them since we have a high demand in Guyana,” Minister Mustapha stated. Currently, a $150 million milk farm is being established at Onverwagt, West Coast Berbice. Guyana’s Demerara Distillers Limited (DDL) is also working alongside the LR Group, an Israeli company, to establish the region’s most advanced dairy farm in Guyana. These two projects, are among the initiatives generating demand for more milking cows in Guyana and a wider plan to increase local livestock numbers to support beef and other meat production, Minister Mustapha stated. Through this plan, Mustapha reminded that Guyana is partnering with Barbados on a new black belly sheep initiative that is expected to increase local mutton production. In addition, the government gifted farmers dualpurpose black giant chicks which will be used for both eggs and meat production. Investment opportunities exist to increase cattle rearing for beef

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Meanwhile,production. during a recent visit to the United Kingdom (UK), President Dr. Irfaan Ali told foreign investors that Guyana is hoping to increase the production of livestock and mutton. In so doing, he said that the country will be tapping into a sizable meat market–valued at some US $55 million (or GY $11.5 billion) annually. At a press conference earlier this year, President Ali also announced plans to integrate single mothers into the plans to expand the local dairy sector.

Guyana to Boost Local Dairy and Livestock Industry Plans to Import 2,000 Head of Cattle from Brazil

East Bank Berbice farmer, Devin Gillard, has successfully been producing red grapes in Guyana and his efforts have been recognized by President, Dr Irfaan Ali, Vice President, Dr Bharrat Jagdeo and Minister of Agriculture, Zulfikar Mustapha. Dr Bharrat Jagdeo, Vice President read an article about Gillard and his grape farm. He later called and complimented him on growing grapes and offered to assist him if he need land for applied for seven-and-a-half acres of land to cultivate grapes and he raised the outstanding matter with Vice President Dr. Bharrat Jagdeo, during a Cabinet outreach to Region Six and his application was approved almost immediately.

Mr Gillard showing Minister Mustapha his farm “As a young boy, I was always fascinated with apples and grapes and questioned why they cannot be grown in Guyana. The now 42-year-old farmer then sourced the plants online and started his experiment, and after six years of trial and error, he was finally successful in getting the plants to bear fruit. He is currently cultivating four varieties of grapes. The success of growing such exotic fruits in Guyana has the capacity to reduce the country’s food import bill and expand into a new and lucrative niche market.

Farmer Cultivates Grapes Successfully in Guyana Agriculture Minister Offers Full Support

Farmer Devin Gillard tending to his harvest of red grapes

Minister Mustapha examines the red grapes

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Gillardexpansion.had

and other officials have since visited the farmer and commended Gillard for his efforts, noting this is the first time we are seeing such success with the cultivation of grapes in such quantities in Guyana. He stated this is very good for us as a country and pledged government’s continued Thesupport.Minister added this augurs well for Guyana, where we are diversifying and consolidating its cultivation of crops and have recently initiated the growing of soya, broccoli, cauliflower and carrots, while a trial for wheat has begun.

NAREI has since been asked to work very closely with Mr Gillard and to offer him all the support that he needs and to support other farmers who may wish to participate in this and similar projects. Mr Gillard has also agreed to share his experience of growing grapes with stakeholders.

Gillard was also in high praise for Agriculture Minister Zulfikar Mustapha, who helped to fast-track the land acquisition on a lease to cultivate grapes, kiwi fruit, apples, dragon fruit and other Ministercrops.Mustapha

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• The Liza Phase 2 Project is designed to produce 220,000 bpd, utilizing 30 development wells and the first oil was extracted in February 2022.

Invest ENERGYin

Hon. Vickram Bharrat, MP Minister of Natural Resources

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Energy • Estimated mean oil and gas reserves stand at more than 10 billion barrels of oil and 16 trillion cubic feet of gas.

• Guyanese businesses have the opportunity to capitalize on the formation of mutually beneficial synergies with other international and regional organizations.

• Guyana’s offshore development remains competitive for the global market and is an attractive investment opportunity.

• The Liza Unity FPSO vessel will realize its target of 220,000 barrels of oil per day later in 2022 which will bring Guyana’s production capacity to more than 340,000 barrels per day, which includes the more than 120,000 barrels per day capacity at the Liza Destiny FPSO. Production capacity is estimated to be approximately 1.2 million barrels per day by 2027.

• The Stabroek block has been lauded by Reuters as one of the world’s most important oil and gas blocks in the last decade.

• Strategic Local Content consultations were held in early 2021, the outcome of which informed the enactment of the Local Content Act 2021 Act No 18 of 2021.

Highlights • To date, the gross recoverable resources are estimated to be in excess of 10 billion oil-equivalent barrels discovered offshore, the 3rd highest oil reserve in the Latin America and Caribbean Region.

• Approximately 3800 persons are employed directly in the oil and gas sector.

• Natural Resources Fund Act 2021, Act No 19 of 2021’s passage paves the way for the utilization of oil revenues to finance the major developmental needs of the country and respond to natural disasters

• Guyana is poised to experience an economic ‘boom’ in the medium to long term outlook.

• Government revenues from first oil to the end of 2021 were in excess of US$ 600 million. With the project development forecasted, this figure could reach as much as G$10 billion annually towards the end of the decade.

• Guyana’s embryonic energy sector means that a plethora of opportunities is anticipated to emerge in 2022 and beyond.

• Significant amount of direct employment for Guyanese nationals as well as increased procurement of goods and services from Guyanese nationals and Guyanese companies by the multinational oil companies through the Local Content Act 2021 Act No 18 of 2021.

The Ministry of Natural Resources (‘MNR’) ‘s critical objective is to develop, implement and oversee policies for the responsible exploration, sustainable development, and utilization of Guyana’s natural resources to advance our economic growth and national prosperity.

• There will be a surge in demand for support goods and services in and out of the oil and gas sector translating to an upsurge in direct and indirect employment opportunities.

• The Gas-to-Energy project expected to be completed by 2024 will reduce the cost of electricity by as much as 50% and will support the creation of spin-off industries that will support further economic development.

• Guyana’s recorded a real Gross Domestic Product (GDP) growth of 14.5 percent in the first half of 2021 and the IMF projects that Guyana’s economy will grow by a further 47.5 percent in 2022 and the non-oil sector estimated to grow by 7.7%.

• The approved Payara Project is gearing for first oil in the 4th quarter of 2023 and is designed to produce 220,000 bpd supported by 41 development wells.

• The Liza Phase 1 Project has a production capacity of 120,000 bpd utilizing 17 developmental wells.

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• Providing complementary infrastructures such as roads, bridges, airstrips, training institutes, etc.;

• Dockyard and shipping building: Exemption of Duty and taxes are available for the operation of dry-docking facilities; • Recycling: Exemption of Duty and VAT on all machinery and equipment used; • Land availability; • ICT liberalization.

Comparative Advantage

This is compounded by good governance; strong political leadership and stability; a fast-growing economy; bountiful natural resources coupled with low-cost skilled labour, collectively distinguishing Guyana from neighbouring countries.

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• The gas to Energy project is expected to supply 300 MW of electricity to the national grid.

• Exempting the payment of Duty and VAT on all critical building materials and equipment;

• Establishing industrial parks/estates for manufacturing in coastal and hinterland regions;

In addition to the abovementioned, renewable energy is likely to fill the additional energy needs of the country, particularly in the hinterland areas.

Guyana’s geographic location at the tip of South America allows it the comparative advantage to benefit from strategic access routes to the rest of the world. Trade from the East and West can improve the cost efficiencies of many local and international firms looking to enter new or solidify their presence in existing, markets. The establishment of new ports as well as the revitalization of existing ports will allow the accommodation of large vessels looking to dock in Guyana prior to their onward location.

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• The largest current renewable source of electricity is biomass from sugarcane.

Some of these include: • Providing tax incentives for new investments, re-tooling, and technological improvements;

Simply put, the following are some of the advantages of investing in Guyana: Fastest growing economy Resource-rich country • English-speaking • Multi-sector opportunities Low operation costs • Ideal location to access regional and global markets Fiscal incentives for investments Tax exemptions for risk-bearing investments Private sector-focused government Diverse cultures and heritage Affordable labour • Land availability Ease of doing business (single window system to be implemented soon)

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The Government of Guyana is pro-business and therefore believes in creating an enabling environment to facilitate investments which will, in turn, spur economic growth in all sectors (traditional and non-traditional).

• The Amaila Falls Hydro Project is anticipated to contribute 165 MW of electricity by 2026.

• The Yellowtail Project is ExxonMobil’s 4th development project within the Stabroek Block offshore Guyana. The review is being done and once satisfied government will issue a Production Licence.

• Establishing a fund to stimulate innovation and new businesses;

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Attractive Incentives

Roads and or bridges to Brazil and Suriname coupled with the expansion of existing airports will cement Guyana as a hub for regional, continental and international trade.

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Currently, the Takutu basin has no active concessions.

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The Takutu basin is a Mesozoic graben 280 km long and 40 km wide located in the southwestern area of Guyana. The Karanambo-1 well drilled there in 1982 by Home Oil Company, was the best prospect drilled within this basin. Located in southwestern Guyana, a small amount of light crude was accrued. Tests conducted on samples from Karanambo-1 found that the oil is of good quality (42o API) and is of a “sweet” variety, containing less than 0.5% hydrogen sulphide.

Why Invest? Opportunities

Reduced costs for energy through the gas-toenergy project and investment in renewables

The GoG has a tax regime that incentives the importation of equipment for the oil and gas industry and companies utilizing renewable energy options.

In an effort to mitigate against environmental degradation, all projects are required by law to obtain environmental authorization from the Environmental Protection Agency.

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Substantial acreage onshore and offshore remains untapped. Area C is located northeast of the offshore Guyana Basin. That area is commonly known as the “ultra-deep-water area”.

Attractive Incentives

The Government of Guyana is working assiduously to modernize its legal and regulatory framework to reflect current and future developments in the economy. A realistic legal framework is anticipated to improve transparency and accountability in the sector, maximize economic gains, and curtail any associated risk.

Environmental Regulations

Water depths can be a minimum of 2,500 m in the southern part to around 4,500 – 5,000 m at its northern boundary. The Areal extent is approximately 9560 km2 .

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The gas-to-shore project, as well as other investments in hydro, solar, wind, and biomass, will result in the reduction of energy costs by as much as 50% which will improve the competitiveness of Guyana’s manufacturing sector as well as create investment opportunities in spin-off industries surrounding the project area and the country at large.

Onshore and offshore oil exploration

Key legislation and regulations undergoing review include but are not limited to: 1. The Petroleum Act, Cap 65:04 Passage of the Local Content Act 2021, Act No 18 of 2021; Passage of the Natural resource Fund Act 2021, Act No 19 of 2021; 4. The Mining Act Cap 65:01; The Environmental Protection Act Cap 20:05; Investment Act 2004; 7. Labour Act Cap 98:01; Income Tax Act Cap 81:01; 9. Income Tax (In Aid of Industry) Act Cap 81:02; Companies Act Cap 89:01; Corporation Tax Act Cap 81:03; 12. Capital Gains Act Cap 81:20; 13. Anti-Money Laundering and Countering the Financing of Terrorism Act 2015, Act No 1. of 2015.

Government Strategy

The booming oil and gas sector in Guyana provide a myriad of opportunities that investors can tap into. With continued exploration successes, the demand for goods and services incountry will exponentially increase.

Vast Oil and Gas Potential

Our experts collaborate and engineer solutions to help customers maximize value through the lifecycle of the reservoir. We combine technology, services and execution expertise to assist our customers with hydrocarbons location, geological data management, drilling and formulation evaluations, well construction and completion, and production optimization throughout the life of their asset. For more information on our resource capacity and technical solutions in Guyana, contact your Halliburton representative today.

The goal of the hinterland electrification programme is to maintain the steady extension and upgrade of electricity supply systems across the hinterland, progressively improving operations and merging isolated services as appropriate. This programme also seeks to expand existing coastal electricity grids to unserved areas within a feasible distance from the grids and to examine ways in which hinterland areas could be provided with electricity in the most cost-effective and sustainable manner. Through this programme an expanded number of hinterland communities will obtain access to electricity through renewable energy resources such as hydro, solar, and wind power. It also unlocked vast areas of land that may bring new economic opportunities.

Innovative technologies. Sustai nable solutions.

HALLIBURTON LEADS THE ENERGY EVOLUTION halliburton.com

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Equipment for wind farm development

The Government of the Cooperative Republic of Guyana is engaging a private developer in advancing a wind farm project at Hope Beach. If realized, it will bring with it an installed capacity of about 10 MW to supply electricity to the local grid. Under the Unserved Areas Electrification Programme, wind speeds were monitored via the installation of measuring towers in the following areas: Orealla, Region 6, Jawalla, Region 7, Campbelltown, Region 8, Yupukari, Region 9 but the wind speeds were not very attractive. Monitoring of the wind testing instruments will be done by the Guyana Energy Agency in order to determine the available wind resource in different locations with a view of developing utility-scale wind farms.

Expand the hinterland electrification programme

laydown space but today, it is at 120 acres and growing. There was initially just one warehouse and now, there are eight. Two berths were catered for in the contract the company had won but this will be doubled to four by the third quarter of 2022.

PIONEERS IN OIL & GAS How a Multi-Million-Dollar Risk Opened the Door for Others

The journey started in 2013 when Muneshwers Limited purchased 30 acres of waterfront land at the very fortuitouslynamed area of Houston on the outskirts of the capital city. At that time, the intention was to develop the land into a container yard for excesses from Muneshwers Water Street Port in Georgetown. But following the discovery of oil offshore Guyana, the company decided to pursue a different path.

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With its current configuration, GYSBI is servicing the majority of the industry’s drilling programme and supporting both development and exploration activities. At its shore base facility, GYSBI manages four vessels per berth within 24 hours, offer port-side marshalling area, provide office amenities, international freight, customs, and domestic trucking, personnel and visa services, construction and engineering services, licensing and permitting services, all of which are complemented by a competent workforce ranging from qualified riggers and equipment operators to customs brokers, procurement specialists and human resource professionals.

After teaming up with local and foreign firms and making significant investments into the development of a worldclass facility, GYSBI in 2017 successfully tendered for and now provides shore base and associated services to support the oil and gas exploration and development programmes of Esso Exploration and Production Guyana Ltd. (EEPGL), for which ExxonMobil is the operator. At that time, the company began with just five employees but today, it provides employment to 601, 559 of whom are Guyanese nationals. GYSBI also started with just eight acres of

Without the benefit of a contract, the businessmen behind the Guyana Shore Base Inc. (GYSBI) took a calculated risk and pumped millions of dollars into an idea which eventually set the stage and the industry standard for the development of locally-owned shore bases in the country to support the rapidly emerging oil and gas industry. After five years of operation, GYSBI has grown to become a familiar name in the industry that is known for its pioneering decisions that drive local content development and positively contribute to the expanding economy.

Other partnerships are also being pursued, including a joint venture with UTC Overseas, which represents an established name in the maritime industry and will allow GYSBI to better serve the logistics needs of the sector. “Over the next few years, we would have invested over US$400M in our operations and expansion activities. This includes the construction of two additional berths at the cost of US$16M, which will allow for larger vessels and heavier lifting capabilities. Most local facilities are limited in their heavy-lift capacity. These new berths will allow us up to 100 tons per square meter. Once these berths come on stream, it therefore means that heavy-lifting services that are currently provided out of Trinidad and Tobago, will soon be offered locally in Guyana. This will add millions of dollars in new revenues and opportunities to the Guyanese economy,” GYSBI explained. It its 90 acres industrial estate in McDoom, several acres of land preparations works and construction of warehouses are also taking place. And in all of its endeavors, developing local capacity remains a key pillar of GYSBI’s operations. As Deputy General Manager, Rabin Chandarpal says, “we want to see value generated from Guyana’s offshore resources remaining in the domestic economy and being used to develop linkages between the industry and the rest of the country. In doing our part, we are committed to identifying, promoting and maximizing the capacity of Guyanese nationals and companies throughout all facets of our operations.”

TechnipFMC,

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GYSBI’s shore base facility is further complemented by a large industrial estate located at McDoom, East Bank Demerara, which offers a variety of customisable solutions for the storage needs of its clients, including short-term, long-term and open yard. “Had it not been for GYSBI, hundreds of jobs and millions of investment dollars, both direct and indirectly, would probably not have been in Guyana but in some other country. We therefore project that if we aren’t already, we will become a key player within this industry and a significant contributor to local content and the economy,” GYSBI told Invest Guyana Magazine.

“We hope to become an anchor point here at Houston for the Oil and Gas industry. We want to be able to be a ‘one stop shop’ for both offshore and onshore support services and we are positioning ourselves to make that a reality. GYSBI has done an incredible job in just five years in not only creating such a world-class facility and expanding the service it offers, but we have also created an indelible footprint for other local companies to follow. The entire upper East Bank corridor of the Demerara River has been energised. International operators such as Halliburton, Noble Drilling, Schlumberger, and many others have all settled within our facility or around us.” With new oil discoveries and continued drilling activities by ExxonMobil and other operators, there will be a greater need for support services. As a majority Guyanese-owned company, GYSBI is positioning itself to offer these services right here in Guyana. The company has already started to build on this vision with the establishment of its first joint venture, Sustainable Environmental Solutions (SES), which is a stateof-the-art, majority-Guyanese-owned firm that manages the waste of drilling activities.

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• In the area of expanding the local value chain for wood products, market opportunities have been explored for export of sawn lumber to Barbados and pre-fab to Ghana and other countries.

Summary of State Forest Classification CLASSIFICATIONS COUNT (Hectares)Area % AllocationTotal PRODUCTION LANDS ending August 2021 Small concessions 536 2,271,091 43.3% Agriculture and Mining Leases 7 9,175 0.2% State Exploratory Permits (SFEP) 6 821,472 15.7% Large Concessions 17 2,125,976 40.5% Total Production Area Allocated 566 5,227,714 100.0 PERMANENT RESEARCH AND RESERVES GFC Forest Reserves 12 17,924.92 Total Forest Allocated 5,245,638.830 Unallocated State Forest 7,320,361.17 Total State Forest 12,566,000 Iwokrama 1 371,681.00 Kaieteur National Park 1 61,091.34 Other (Shell Beach, Kanuku) 2 730,300 Total area size of Protected Area 1,163,072.34 Hon. Vickram Bharrat, MP Minister of Natural Resources Invest FORESTRYin

• The sector is heavily capitalized, there is an opportunity for investment in the area of developmental finance.

Investment Opportunities in the

• Environmental Services in the area of Reclamation/ Reforestation.

Why Invest in Guyana?

• Contribution to GDP- approx. 3% as a raw material Employment- average of 20,000 persons

• Investment in Value Added and Down Stream Processing. The central focus of the Government is to promote value adding in the forestry sector. Opportunities exist to setup processing facilities where raw materials can be purchase from existing operators and process into a range of value-added products such as lumber, kiln dried lumber, furniture, flooring, plywood among others.

• Guyana Forestry Commission (GFC) – Established 1979

• Investment in Large and Medium Scale Logging in Primary Extraction. There are available forest areas to support investment in a large and medium scale logging and primary extraction.

Background: • 18.3M hectares; 87% of Guyana’s land area

Guyana’s landmass is predominantly covered by forest. Close to 87% of Guyana’s landmass is covered with Pristine Forest. The State Forest Estate is approximately 12.5 million hectares rich in biodiversity. The forest provides a broad range of services that are not limited to, but includes timber production and environmental services. Potential Investment Opportunities for 2022 within the Forestry Sector as follows:

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• Development of a consolidated stock yard facility. The aim is to ensure a ready supply of raw materials along the value chain. The facility will serve as a supply hub for raw materials.

• State forest estate- 12.5M hectares

• Currently over two million hectares of State Forest are under lease to existing large operators. Opportunities exist to enter into joint venture with existing operators to allow for technology transfer, capitalization and new business model.

• Investment in Logistics Services. The Forestry Sector requires utilization of heavy-duty machinery and equipment and also requires multiple services along the production chain such as transportation, barging, loading, harvesting etc.

Forestry Sector

Targets for 2022 • The forestry subsector is projected to grow by 13.5 percent in 2022.

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• Allocated forest- 5.3M hectares (42.4%)

• 2021 Estimated Production- 340,000m3 2021 Estimated Exports -USD 32M

• Higher forestry output will partly meet the demand for timber products from public and private sector construction activity.

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• Consolidated

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100 | Invest Guyana 2022/23 INVESTGUYANA.NET Robust Legislative, Policy and Procedural Framework for the Forest Sector • FOREST ACT 2009 • GFC ACT 2007 • FOREST REGULATIONS 2018 • LOW CARBON DEVELOPMENT STRATEGY • NATIONAL FOREST POLICY 2018 • NATIONAL FOREST PLAN 2018 • CODES OF PRACTICE 2018 CLEARLY PROCEDURESDEFINEDFOR: • STATE FOREST ALLOCATION • STATE FOREST HARVESTING • PROCESSING OF FOREST PRODUCTS • DOMESTIC SALE/EXPORT OF FOREST

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• Average of 1 tree cut every 5 acres • Independent 3rd Party audits done - all have confirmed that SFM is being satisfactorily done • ITTO has also confirmed that SFM is being done Monitoring Forests in Guyana from 1990 to 2020 National Area Deforested 1990 to 2020 Reportingperiod Year (Years)Period ResolutionSatelliteImage ForestArea AnnualisedChange (‘000 ha) (%) Initial forest area 1990 1990 30 m 18 473.39 (SeptBenchmark2009) 2009 19.75 30 m 18 398.48 74.92 0.021 Year 1 (Sept 2010) 2010 1 30 m 18 388.19 10.28 0.056 Year 2 2011 1.25 30 m & 5 m 18 378.30 9.88 0.054 Year 3 2012 1 5 m *18 487.88 14.65 0.079 Year 4 2013 1 5 m 18 475.14 12.73 0.068 Year 5 2014 1 5 m *18 470.57 11.98 0.065 Year 6 2015-16 2 10 m & 30 m 18 452.16 9.20 0.050 Year 7 2017 1 10 m & 30 m 18 442.96 8.85 0.048 Year 8 2018 1 10 m & 30 m *18 070.08 9.22 0.051 Year 9 2019 1 10 m & 30 m *18 019.35 12.74 0.071 Year 10 2020 1 10 m & 30 m *18 001.79 10.23 0.057 Prefabricated house made in Guyana

• Deforestation rate

Enabling environment to catalyze Forestry Sector Current construction boom - Domestic market demand supplies Collaboration with MoH to build thousands of low-income wooden houses Increased CET on Pine/Plywood/other imported timber Import license required to import timber Log Export Policy revised- Easier to purchase/export logs/ lumber; Local companies now FSC FM and Chain of Custody Certified (independent) Efforts ongoing to regain greenheart market access to UK (Dimension stock yard) is a viable investment opportunity Incentives- no VAT on logs, sawn lumber, machinery; investment agreements Guyana’s MRVS- one of the best globally of 0.05%

Forest harvesting / processing / export done in keeping with international SFM principles Chain of custody fully developed Log can be traced back to origin in forest 37 Forest Stations strategically located GFC has passed all 3rd Party Independent FM audits Codes of Practices- Prescriptions for monitoring Small/ large concessions Guidelines for conversion/further processing; export Some prescriptions of the Code of Practice Guidelines: Low intensity selective logging GPS coordinates for every tree cut (Average of 1 tree/2 ha(5ac)) Allowable Cuts; minimum distances between felled treesno large canopy openings; natural regeneration 100% pre-harvest inventory done for LC > 8097 ha; analysed before harvesting Log tagging/GPS coordinates for every tree felled-bar coded tags/electronic scanners

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Investment Incentives

• ATVs to support mobility in the productive and service sectors and enjoy a 14% VAT removal • Reversal of VAT on Exports

• Development Financing Window (forest sector is capitalized with limited and high cost of capital)

• Exemption from duties and taxes for items covered under an investment agreement.

• Investment in large scale downstream processing (to include added value processing with supply chain integration; strengthen local capacity and offer investment opportunity)

• These are renewable based on compliance with the terms and conditions of the agreement

• Currently engaged in PEFC Will guarantee sustainability of origin • Guyana can harvest sustainably, 1.2 M m3/yr.

In addition to the general incentives that Guyana offers investors, this sector attracts special incentives. These include:

• The VPA and PEFC certification would maintain markets and guarantee other lucrative possibilities.

• Forestry operators can procure items such as chainsaws, tractors, skidders.

• Change of log export policy to allow saw millers and timber dealers to export logs Timber concessions in Guyana Approximately fifty-two percent (52%) of the state forest estate have been allocated to timber harvesting under sustainable forest management techniques to ensure the sustainability of Guyana’s forest resources.

• Only doing about 400,000 m3

• Will guarantee legality of origin to consumers

machinery and equipment:

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•

• Existing producers and new investors no longer have to waste valuable time to go through GO-Invest for VAT free approvals; the ease of doing business in Guyana is immediately approved.

• State Forest Authorisations- Large concessions- granted up to forty years for areas in excess of 24,000 hectares.

• Exemption from customs duty on a wide range of wood working equipment-lathes, sanders, routers, saws.

• Forest plantations – National Forest Policy requirement (Investment in pulp and paper industry using fast growing forest species)

• Forest products consolidated marketing business (buying and selling forest products on a large scaleconsolidating hub)

• High Abundance of Prime Added Value Species (flooring, decking, prefab houses, furniture to target niche export markets)

• Now in the pre-implementation phase

RemovalFiscalIncentivesIncentivesofVATon

• Great room for expansion of production and associated added value activities

• Guyana has initialed the Guyana-EU FLEGT VPA (Nov. 2018)

• Investment in Primary Extraction of Forestry Resources (current extraction level is at 40% of sustainable maximum)

• Removal of VAT on all-Terrain vehicles

• Expected to start issuing licenses in 2024/25

Enabling environment to catalyze Forestry Sector

• Reforestation programmes in forest degraded areas – in mined out areas, etc. (Approximately 200,000 hectares of lands for reforestation)

• State Forest Authorisations-State Forest Permission (SFP)granted for a three years’ period on no more than 8,000 hectares.

• Potential for Joint Venture Opportunities with existing forestry operators

• Exemption from customs duty of a wide range of forestry and sawmilling equipment-skidders, band saws, chain saws, saw blades etc.

Two types of concessions are awarded based on area size and duration via a transparent, competitive process:

Investment Opportunities

• Partnering on broader Environmental Services (including forest carbon services, biodiversity and other watersheds to align with global climate goals)

• Equipment Rental Services (trucking, transport to forest concessions to point of export)

Memberships www.atlanticventuresgroup.com (592) 502 2729 or (592) 231 8699 (592) 266 2514 or (592) 266 1645 Lot 43A Public Road, Friendship, East Bank Demerara, Guyana, S.A Lot 7A North Road Company Path, Cummingsburg, Georgetown, Guyana, S.A ISO CERTIFIED Maritime & Offshore MSolutions aritime & Offshore Solutions Marine, Offshore & Technical Training Marine & Offshore Welding and Fabrication Crew, Port & Ship Management Solutions Drydocking & Maintenance Implementation Ocean & Inland Marine Transportation Eco System of Asset Integrity Solutions for Guyana's Maritime & Offshore Industry Industry & Safety Management Solutions Customer & Stakeholders Management Solutions Supply Chain Management Solutions Members of the group

• Allowing more fibre optic cables to terminate in Guyana

• Look to implement 4G and 5G technology

• Providing schools with appropriate equipment and software

The government will implement measures to ¾ Increase access to cheaper data and bandwidth by:

• These training programmes have seen the formation of a pool of individuals who can support investment opportunities in Software Development, BPOs, Data Processing Services, Telecommunications Services, Utility Computing Services, Software Engineering, Online Education, among other things.

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• The ICT sector is under the oversight of the Office of the Prime Minister

• Promote E-Governance, which will improve the productivity of business and delivery of government services through the introduction of E-health, E-education, E-security, E-agriculture, electronic permit and license processing, etc.

• Mobile Operators in Guyana: Digicel & Guyana Telephone and Telegraph

Hon. Brig. (Ret’d) Mark Phillips, MP Prime Minister Invest in ICT

ICT Overall Strategy

¾ Increase ICT literacy by:

• $1.3 billion budgeted to support the sector’s rapid development.

• Guyana’s ICT Sector has progressed over the last decade.

• The ICT industry was improved by with two submarine fibre optic cables and services rolled out in 2017 and 2019. More is on-stream for 2022.

• Contributed to GDP US $140.46 Million (2018)

• Removing VAT on cell phones and data

About Guyana’s ICT Sector

• Liberalized telecommunications sector.

• Building ICT capacity by training 3000 persons in ICT • 1000 free internet connection across six (6) regions.

• Massive job creation anticipated for 2022 & 2023.

• 200 new ICT Hubs in the Hinterland Area.

The overall vision is a knowledge-based society, which is globally competitive and productive, and giving rise to the strategic placement of Guyana as a premier ICT hub in the region.

• Establishing an international Institute of Technology in Guyana.

• The ICT Industry comprises telecommunications operators, internet service providers, telemarketing call centres, inbound customer support, voice mail transcription, medical records transcription, and data warehousing & operators, broadcast institutions, ICT education providers, internet cafés, etc.

• Scaling up state-sponsored efforts to provide countrywide cover with fibre optic cables and other wireless options to ensure subsidized access to poor and remote households. The medium through which every household, including poor ones, will be able to connect to the internet will be the One Laptop Per Family programme, which will be reinstated

• Providing training programmes ranging from beginner, intermediate and advance levels across the country.

• Establish a Training of Trainers (ToT ) programme for Remote and Riverain Communities for the Hinterland Ares.

• Digital transformation of all government services.

• ICT will bridge the divide between the Hinterland and Coastland with the Hinterland Poor and Remote Communities Project.

• Providing incentives for training in ICT.

• Reforming school curricula for the development of ICT proficiencies

• Invest in ICT hotspots and hubs in the hinterland communities

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new jobs in 5 years. • Demand for Computer and Mobile Assembly Factories to create employment. • Venture Capital/Innovation funds specifically targeted at ICT Business start-ups. • Demand for E-Tourism (Guyana as a virtual tourist destination) • Modern Legislation (Data Protection and E-Commerce) • Development of National E-Commerce Strategy for Guyana Investment CommunicationsOpportunities Services Computer and Information Services Business OutsourcingProcessing(BPO) • Back and front office functions • Call Centers • Outbound and Sales Telemarketing • Inbound Customer Sales Support • Voicemail Transcript • Medical TranscriptionRecords Telecommunication Services • Voice ServiceTelephone(Landlines and Cellular Services) • Telephony • Telex Services • Telegraphy Services • Facsimile Services Consultancy Services • Installation of computer hardware Software Implementation Services • Network Management and Security • Software Development • Application Support Data Processing Services • Web InternetDevelopmentServices Database Services • Data Warehousing Other Services Other ICT-Enable Services Online Education • Training and e-learning Hardware MaintenanceRetail • Computer stores/servicesassemblycentre • Insurance Services • Financial Services • Royalties and License Fees • Personal recreationalandServices • Smart Grids • Other Business Fiscal Incentives • No VAT on cellphones and data • No taxation on electricity • No VAT for Telecommunications Usage • Waivers of Duty

•

Why

•

• The emergence of a number of skilled persons that showed significant interest in Programming/Coding, Software Development and Robotics. Modernize Legislation/Policies Creating an atmosphere that is conducive to ICT economic growth by devising and implementing related ICT policies The Industry and Innovation Unit is currently doing a Data Protection Legislation to be completed in 2022/2023. A National ICT Strategic Plan 2030 Cybercrime Legislation to be completed by 2022 Invest? Room in ICT driven by oil and gas development. Highly developed and diversified human resource base An attractive destination for ICT investment based on the country’s time zone Access to markets regional and international markets Attractive demands in ICT Business Incubators in all sectors. Investment opportunities in Data Centres Need for more Call Centres and BPO operations. In 2022, the goal is to create 25000

•

104 | Invest Guyana 2022/23 INVESTGUYANA.NET ¾ Promote ICT as an enabler for jobs creation: • Create small and medium-size ICT enterprises and entrepreneurial ventures and encourage youths and PWDs to pursue ICT related careers. • Promote more of the Innovation Camps, ICT Job Board, ICT Job Fairs, Code Sprints, Apprenticeship/Internship Schemes and PWDs accessibility programmes. • Provide industry-related job opportunities such as the new Call Centres in Essequibo and Berbice which will create 2000+ jobs in ICT by 2023.

•

cares Lot 12

The following concessions are available to investors (both local and foreign) in the ICT Sector: Utilities

The Government of Guyana will facilitate negotiations with the utility companies (Guyana Power & Light, Guyana Telephone & Telegraph Company and the Guyana Water Authority) for the timely supply of electricity, telecommunications and an adequate water supply to support employees.

WE HAVE SOLUTIONS TLC (Guyana) Inc

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• Full waiver of duties and taxes on all imported, machinery, equipment and vehicles, which are deemed essential for the establishment of a Call Centre.

INFRASTRUCTURE Joint Venture and Facilities Angola

The government will provide work permits to specialist workers and trainers (up to 10% of total employees) who have to be hired from abroad once they satisfy the criteria for the granting of such status. The company must however put in place a programmer to train local labour to undertake specialized jobs. 12 Georgetown,New +592 620 - Congo - Equatorial Guinea - Gabon - Guyana - Ivory Coast - Mozambique - Senegal - Switzerland ENERGY –CONSTRUCTIONINFRASTRUCTUREDOORTOCUSTOMSBUNKERING

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Favourable consideration given for Tax Holiday once requirements are met.

Work Permits

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• Excise Tax • Tax Exemptions on ICT Equipment and Machinery including computers and their hardware accessories, integrated circuits, micro assemblies and apparatus.

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• Zero-rated of Value-Added-Tax on computers and hardware accessories, routers, switches and hubs for networking computers, toner cartridges and ink cartridges for computer printers.

Haven,

Angola

The Government of Guyana will facilitate discussions with the appropriate international agencies for training grants for the Company.

1 DOOR TO DOOR DELIVERY - CUSTOMS CLEARANCE VESSEL AGENCY - CHARTERING

DOOR TO DOOR DELIVERY – MEET&GREET CUSTOMS (Guyana) partner that New Bel Park, Georgetown, Guyana : +592 620- Congo - Equatorial Guinea - Gabon - Guyana - Ivory Coast - Mozambique - Senegal - Switzerland - & 21.indd-- Congo - Equatorial Guinea - Gabon - Guyana - CoastMozambique - Senegal - Switzerland - Trinidad & Tobago - UK - USA Lot 12 Bel Park, Georgetown, Guyana : +592 620 23 - www.tlc-com.ch

Full Waiver of Import Duties and Taxes

Inc The logistics

Training Grant

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CLEARANCE VESSEL BUNKERING CHARTERING TLC - Pentagon Freight Services WE HAVE SOLUTIONS TLC

The Government of Guyana will issue the Company with a VSAT license.

The VSAT License shall be utilized only for the Call Centre activities as described herein and no link outside the business activities of the Call Centre shall be permitted.

TLC - Pentagon

Tel

Tax Holiday

Licenses

• Full waiver of duties and taxes on all imported materials, parts, components and other inputs required for the establishment of a Call Centre which is not locally manufactured, including cooling equipment and building materials for the operation of the Call Centre.

www.tlc-com.ch Angola

Founded in 2003, E-Networks has singlehandedly introduced many new technologies to Guyana. These include the first digital cable television system, the first WiMax network, the first fiber-to-the-premises network, the first Direct-to-Home (DTH) system, the first iDirect satellite hub, the first locallyowned international subsea cable, and the first 5G network.

The company also boasts Guyana's largest fiber backbone, connecting more regions than any other provider by fiber. This accomplishment was completed within a mere 18 months of the telecoms liberalisation and includes the company's deployment of the first-ever and only submarine cable to the Essequibo Coast. Consequently, E-Networks can deliver the same services available in Georgetown from Essequibo Coast to Berbice and Linden.

More recently, since Guyana's telecommunications liberalisation in October 2020, E-Networks has stimulated whirlwind changes in the market, particularly in internet speeds and pricing. Retail internet speeds are now as high as 1,000 Mbps, and pricing for dedicated internet services has decreased from US $750 per Mbps to an average of US$50 today.

Since liberalisation, E-Networks has also focused on expanding its network to more areas across the country. The company has built out its 4G/5G fixed wireless network to cover many areas previously neglected by the incumbent telco monopoly holder for three decades. Numerous rural areas outside the capital city can now access fast and reliable internet at an affordable price, enabling a digital shift in entertainment, education, and remote work.

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Today, however, E-Networks has fuelled the swift growth of these industries by enabling them to access the high-speed fiber access and, more importantly, reduced market prices for international connectivity needed to power their businesses. These positive changes have also driven increased ICT investment by the government and catalysed viable business opportunities for other cloud-based industries.

E-Networks was the Official Internet Provider at the 2022 Guyana Agriculture Expo & Investment Forum

Pre-liberalisation, Guyana's telecommunications sector was plagued by prohibitively high pricing for international capacity, which had stymied the development of bandwidth-reliant industries such as BPO and call centres. This stagnation also limited the sectors' ability to employ scores of Guyanese.

E-Networks Inc. is Guyana's only 100% locally-owned telecommunications company. This unique vantage point, coupled with the company's vision and extensive investments, has enabled Guyana's telecommunications sector to experience a quantum leap in development, especially in the post-liberalisation era. Because of E-Networks' decision to aggressively deploy the latest network infrastructure, which stimulated significant competition in the market, Guyana is liberated from decades of substandard technologies and slow and overpriced connectivity caused by an anti-competitive monopoly. Guyana is also now poised on an upward trajectory for rapid development in the ICT and telecommunications sectors and to be a leader in the region for the best technologies and the fastest internet speeds at some of the most affordable pricing.

E-Networks Chairman, Rakesh Puri (R) and CEO, Vishok Persaud (L) meeting with President, Dr Irfaan Ali and Prime Minister, Brigadier (Ret’d) Mark Phillips

Propelling Change in the Telecommunications Sector

Vishok Persaud – CEO at the Launch of the 2022 International Building Expo Where E-Networks will be the Official Internet Provider

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Engineer in the new E-Networks Data Center

(592) www.enetworks.gy624-5153

E-Networks

Chairman Rakesh Puri and CEO Vishok Persaud at the Opening of the E Networks Store in Essequibo

GUYANA'S INTERNET E-Networks Mobile Unit with Sales Team on Rural Outreach scan me

FASTEST

Because of E-Networks' track record and considerable investments, the company is a market leader and one that is committed to continually impacting the sector through innovation and expansion. In particular, E-Networks, as the sector's only 100% Guyanese company, looks forward to being the local content partner in ICT for Guyana's budding oil and gas sector. The company also looks forward to continuing its keen focus on aligning its services with first-world technologies, which has enabled Guyana's telecommunications sector to enjoy significant changes benefitting Guyanese, such as increased access to modern technologies and better services, faster internet, and lower pricing.

E-Networks credits its ability to impact the sector to the independent control of its network assets, which it owns and operates without relying on any other provider in the market. This includes access to the Xlink cable: an alternative, geodiverse international subsea cable that links Guyana to Barbados. Landing of XLink Cable in Barbados E-Networks has also built a state-of-the-art data centre to support the cost efficiency of transitioning to the cloud for businesses across various sectors, including finance, insurance, BPO, and oil and gas. This allows these companies to scale the technologies and connectivity needed to modernise their operations in an increasingly digital world.

Non-Traditional

business

Language

Duty-Free Market

Total

power • Reduce

Targets for 2022

and young entrepreneurs • Provide

Improved performance is anticipated for all manufacturing industries in 2022. Sugar, rice and other manufacturing are expected to expand by 11.8 percent, 28.6 percent and 8.5 percent, respectively. expansion in the manufacturing of non-metallic products like cement and chemical products, as well as in the manufacturing of fabricated metal products.

Guyana enjoys favorable geographic, economic and cultural linkages with the Caribbean and South American markets. Economical wage rates and diverse, trainable labour force with enhanced strategies established for capacity building and human development.resource

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•

CompetitiveMarketLabour

The

Regions • Establish

Doing Business 2020 Growth Strategy for Manufacturing • Provide

Access

Guyana’s leaders have declared Guyana ‘open for business’ and are taking steps to improve the climate.investment

Contributes 4.24 % to Guyana’s National GDP Manufacturing sector is estimated to have grown by 3.5 percent in 2021. Exports Receipts US$ 2 billion (2021) Exports US$ 102.4 Million (2021) 12% of the population Guyana is ranked 134th out of 190 countries in terms of ease of doing World Bank the business sector with low-cost, reliable and stable processing time for applications tax incentives for new investments, re-tooling Industrial Parks/Estates for manufacturing in Coastal and Hinterland accessible programmes to stimulate National Body and increase SMEs tailored to address

innovation and new businesses • Create a

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About

Rich mineral deposits, productive land, forests, seas and rivers which present robust and diverse investment opportunities. Predominantly Englishspeaking withtiesLatin-American Predominantly Englishspeaking withties.Latin-American

Invest Manufacturingin

and license • Provide

Hon. Oneidge Walrond, MP Minister of Tourism, Industry and Commerce

Over 75% of Guyana’s exports enter destinationduty-free.markets

funding

Job Creation - Employs approximately

and technological improvements • Establish

Entrepreneurship

EnablingEnvironmentInvestment

Guyana’s Manufacturing Sector

WhyStrategicInvest?Placement

•

2. Support Renewal of the Industrial and Commercial Fleet

GOINVEST.GOV.GY Invest Guyana 2022/23 | 109

• Removal of 10% excise tax on the importation of new double-cab pickups below 2000 cc.

4. Advance Tax on Resident Contractors

Competitive cost of labour: Guyana has one of the lowest manufacturing wage rates in the Caribbean and Central America. Additionally, the workforce is highly diverse and trainable.

Access to local inputs: Guyana’s natural resources provide manufacturers with an abundance of locally available and affordable inputs for value-added products within varied industries including agro-processing, forestry, construction and mining.

1. Parity in Tax Treatment for Local Content

Sugar • Forest Products • Extractive

• Removal of 10% excise tax on the importation of new single cab pickups below 3000 cc.

Diamonds • Pharmaceutical Industry • Food & Beverage Industry • Basic Consumer Items • Jewelry Manufacturing Value-added,

• Ensuring that Guyanese business are not in a disadvantageous position relative to international counterparts in competing for contracts within the oil & gas sector.

Guyana’s Comparative Advantage Low ‘time to market’ / lead-time: Guyana’s proximity to the U.S. Caribbean and Latin-American markets allows for shorter transit time vis-à-vis other exporting countries. This lead-time advantage is useful for companies aiming to find suppliers to meet their just-in-time delivery requirements.

Availability of industrial parks: The Government of Guyana has invested in a number of industrial parks with installed infrastructure available at G$1.00/US$0.005 per square foot per annum and investment concessions for materials, vehicles, plant and machinery.

• Removal of the 10 percent excise tax as well as the 14 percent VAT on the importation of new motor trucks of any tonnage for transport.

• Ensuring Guyanese business can compete successfully under the new Local Content framework, improve competitiveness, secure business opportunities and create jobs for Guyanese nationals.

• Removal of the VAT of 14 percent on the importation of new haulers for pulling containers or similar vehicles for pulling.

Removal of the 14 percent VAT on cranes, safety equipment, and oil spill response equipment

golf sand, glass sand etc. • Industrial Materials - counter tops, fiber glass • Leather and Allied Product Manufacturing • Printing and Publishing • Packaging • Metal Fabrication • Foundry • Machine-Related Products • Household Products • Water Suppliers • Livestock Feed Industry • Garment Industry • Apparel Industry • Restaurants • Craft • Ceramics • Energy

3. Reducing the Cost of Cranes, Safety Equipment, and Oil Spill Equipment

• Reduction of excise tax from 110% to 75% for new double-cab pickups between 2000 and 3000 cc.

Removal of the 2 percent withholding tax on resident contractors. Products Rice, – Gold, Bauxite, Export-oriented Industries: Agro-industry products - processing, canning and bottling of produce Value-added/manufactured forest products - furniture, flooring, doors, plywood, veneer, etc. sand,

agricultural

Budget 2022 Tax Measures

• Construction • Chemical Industry - fertilizers and insecticides; paints; soaps • Paper related Products • Building Materials - stone, cement, clay blocks, tiles, glass, glass products • Sand - beach

Investment Projects Traditional: • Agricultural

•

• Export allowance extended to exporters of non-traditional products who are paid in a recognized tradable currency.

• Manufacturers, to the satisfaction of the Commissioner General that export more than 50% of all its products qualify for the exemption from the payment of Customs Duty and zero-rating of Value-Added Tax.

• Ease of doing business through the digitization of the licensing process and the reduction of processing of export/import licenses.

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Other Investment Opportunities include:

• Exemptions from duties and taxes for items covered under an Investment Agreement.

• Manufactures of flour and poultry feed also qualify for Customs Duty exemption and zero-rating of Value-Added Tax.

• Exempt from Custom Duty on a wide range of auxiliary equipment- boiler, fork-lifts, scales for continuous weighing, conveyors.

•

• Exemption from Custom Duty and zero rate VAT on raw materials and packaging for manufacturers who export 50% or more of their products.

• Exemption from Custom Duty on a wide range of process machinery and equipment, including packaging equipment and raw materials for manufacturing companies registered under the VAT Act.

In addition to fiscal incentives, investors in the manufacturing sector benefit from duty free access to foreign markets under preferential trade arrangements such as the Caribbean Basin Initiative (USA), the Lomé Convention (Europe), Caribcan (Canada), the Caribbean Single Market and Economy (CSME) and special arrangements with Colombia and Venezuela.

• Exemption from Customs Duty on raw materials and packaging materials used in the production of goods by manufacturers.

• Zero rate VAT on bags for packaging of goods.

• For businesses registered with the Small Business Bureau, support through various initiative including small business grants, training opportunities and incubator centres.

•

• The manufacture of textiles and garments These guidelines apply to persons who are requesting fiscal incevtives and manufacturers that export more than 50% of their manufactured products. These categories of persons/businesses will also qualify for the zero-rating of value-added tax.

Incentives for Trade include:

•

• Exemption from import duty and VAT on packaging materials for the manufacturing of exempt items by manufacturers registered under the VAT Act.

• Removal of VAT on Building and Construction Materials, on Electricity and Water and Machinery and Equipment.

•

¾ The manufacture of quality wooden furnishings plywood and veneers parquet material and floor tiles doors, windows and kitchen and other household fittings chemical products e.g. fertilisers, insecticides and weedicides packaging materials jewelry and items of gold, diamond and other semi-precious stones leather craft and souvenirs articles of clay, kaolin and silica sand

•

• Exemption from Custom Duty on a wide range of process machinery and equipment including packaging equipment, fruit processing, sewing machines, food processing and poultry feed.

Economic Incentives for Trade

• For businesses registered with the Small Business Bureau, a reduced rate of income and corporate tax rates of 25% on taxable profits.

• All other approved manufacturers are exempted from Customs Duty on import raw and packaging materials.

Applicants qualifying for tax exemptions on raw and packaging materials are required to have a registered manufacturing establishment. They must apply in writing to the Commissioner General of GRA and submit a list of the raw or packaging material used in their manufacturing operations. The GRA will conduct a verification of the manufacturing process to determine the eligibility of the items in the form of an approval letter. As such, manufacturers may qualify for the following based on the criteria below:

•



A New Vision for Manufacturing With National Branding and Certification

The manufacturing sector plays a pivotal role for employment and has a direct impact on the quality of life of many; and with the emergent oil and gas industry, manufacturing will continue to play an essential role in shaping Guyana’s future, as it prepares to meet the growing demand for manufactured products. This evolution will stimulate enhanced local labor capacity, allow for the introduction of novel technologies, and facilitate the creation of entirely new industries.

By Rafeek Khan - President Guyana Manufacturing & Services Association (GMSA)

As a developing economy, Guyana’s comparative advantage will be our ability to effectively convert our abundant natural resources to value-added products with compliance of international quality and standards. The “Made in Guyana” mark will undoubtedly exude national pride with a unified Throughidentity. collaboration between the Guyana Office for Investment (GO-Invest) and the Guyana Manufacturing and Services Association (GMSA), investment will be channeled into the many emerging manufacturing niches such as the oil and gas support economy, the low-carbon sustainable products markets and regional and extra-regional consumer markets. With various initiatives such as the Local Content Bill, Guyana and the Caribbean’s 2025 Food Security Agenda and the 2030 Low Carbon Development Strategy (LCDS), the Government of Guyana assures that there is indeed, no better time to invest in Guyana.

As Guyana progresses from predominantly being a primary producer of raw materials, the manufacturing sector is preparing for advancement in the country’s transition to a modern and productive economy. This industrialization of enterprise and business is transforming Guyana’s economic and social landscape and presents a plethora of new and diversified business opportunities for both local and foreign investors.

The vision for the manufacturing industry through national branding and certification will promote and create local and international awareness of Guyanese-manufactured products.

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GOINVEST.GOV.GY Invest Guyana 2022/23 | 113 Hon. Vickram Bharrat, MP Minister of Natural Resources Invest MININGin About Mining in Guyana • Guyana is generally well known for its traditional mining and production of gold, diamonds, bauxite, stone and other quarriable materials including sand and loam. • There are several other strategic commodities that could benefit from capital investments for exploration, refining and manufacturing development and export. Declaration for Commodities Commodities Year Gold (kgs) Diamond(Cts) (Tonnes)Stone (Tonnes)Sand (Tonnes)Loam (Tonnes)Laterite Tonnes)Bauxite(x1000 2016 22,915.16 139,889.59 517,770.20 1,687,657.87 23,564.34 NA 1,480.43 2017 21,019.69 52,161.06 588,936.62 1,674,490.19 51,053.74 NA 1,481.50 2018 19,812.98 62,110.71 661,476.12 6,473,843.66 73,910.85 NA 1,924.46 2019 20,413.63 54,993.14 635,506.20 3,423,143.25 66,574.99 2,030.00 1,920.33 2020 18,823.01 24,760.06 672,949.31 1,444,934.40 41,096.25 NA 595.29

• The mining and quarrying sector is forecasted to grow by 86 percent, driven by expansion across all subsectors, namely petroleum, gold, other mining and quarrying, and bauxite.

Targets for 2022

• The entire array of semi-precious minerals that have been languishing for inclusion into the formal market place:amethyst, agate, jasper, topaz etc.

• In the past 30 years, Guyana has only managed three (3) bona fide gold mining operations at the large scale, each with declarations above 150,000 ozs. per year on a sustainable basis.

Geochemical Exploration Projects

• The Guyana Geology and Mines Commission (GGMC) has been doing its part in opening the window for project prospects.

Gold Mining in Guyana Gold Reserves of 14.3 million ounces Manganese Reserves of 30 million tonnes Copper Reserves of 440 million pounds

• The bauxite subsector is anticipated to recover in 2022 and grow by 25.4 percent.

• Other minerals of potential industrial, economic value are molybdenite, kaolinite, potash etc.

• The use of clays including kaolin can be grown into a formidable industry for durable cost-effective construction materials.

Mining in Guyana

Rare Earth Elements & Base Metals in Guyana

• The use of clays including kaolin can be grown into a formidable industry for durable cost-effective construction materials.

With the advent of changing attitudes towards fossil fuels, alternatives are being pursued. Power cells are improving and there are strategic elements such as scandium, lithium, etc., that have become attractive for exploration. In fact, the suite of Rare Earth Elements has become popular. Base Metals have also become more popular as targets of exploration.

Semi-precious Minerals in Guyana

• The gold mining subsector is projected to grow by 12.2 percent in 2022.

• The bauxite deposits in Guyana are still considered of the best quality.

• Exploration has always been a challenge due to considerable overburden of sand.

• GGMC has compiled reports on the geology, geochemistry and structure of a more recent time frame which covers some 7000 km² of northern Guyana and this database is commercially accessible.

• Majority of the alluvial Diamond and Gold mining operations exist within the Roraima Formation which covers approximately 12% of Guyana (26,520 sq.km).

• Production of stone, aggregate and quarriable materials has increased significantly to meet demands of the construction and infrastructure development surge.

Why Invest in Guyana?

• Most of the small, medium and large-scale mining operations exist within this terrain which structurally trends NW-SE.

  

Therefore, REEs and Base Metals can be presented for projects to which exploration capital could be directed.

• Can reach regional and international markets on a competitive basis with superior products (granite, gabbro); white sand (99% silica).

• The oil and gas subsector is projected to grow by 96.7 percent in 2022.

• The other mining and quarrying subsector – which includes sand, stone, and diamonds, is also projected to grow in 2022, by 8.4 percent.

• Gold mining in Guyana has been at the artisanal and mechanized scale offering declarations in a good year of approximately 500,000 ozs.

Bauxite in Guyana

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• Value added has been hindered by the limitations of energy/power.

• Geologically, approximately 36% (76,600 sq.km) of Guyana encompasses highly mineralized crust, the Greenstone Belts.

• A total of 65 Geochemical Projects has been conducted between 1999 to 2019 covering a total area of 101,580 sq. Km (47% of Guyana Area).

• The Roraima Formation is predominantly fluviatile sandstones and conglomerates of middle Proterozoic age.

• The entire array of semi-precious minerals that have been languishing for inclusion into the formal market place:amethyst, agate, jasper, topaz etc.

• Other minerals of potential industrial, economic value are molybdenite, kaolinite, potash etc.

• Gold mining subsector represented 8.8 percent of our GDP- the third largest non-oil sector of our economy- and more than 60 percent of our total non-oil export earnings.

Quarrying in Guyana

• This reality does not appear to be in line with the potential that is available. As such in the area of gold mining in Guyana, investment which is alive should be aggressive.

GOINVEST.GOV.GY Invest Guyana 2022/23 | 115 to book 592.227.7204Call tropical.com • Full Container Load (FCL) & Less than Container Load (LCL) • LCL Cargo Pick Up in the Continental United States • Consolidation Services • Pallets, Barrels, Small Parcels • Refrigerated and Dry Cargo • Project Cargo • Marine Insurance • Online Booking, Payment, Tracking • Global Carrier Partnerships • Inter-Island Sailings Tropical Shipping 72 High and Barrack Streets Kingston, Georgetown, Guyana P: 592-227-7204 to guyana@tropical.com6 GEORGETOWN SEAPORT: FASTEST TRANSIT FROM U.S. TO GUYANA. ONLY 6 DAYS! U S Customer Care: Ph: 561 881 3999 CustomerCare@tropical com

Mining Tenures of Guyana

• The growth trajectory for Guyana includes infrastructure and construction which will create a demand for stone, aggregates and sand.

• The mining sector is undergoing a review of its legislation; fiscal initiatives and incentives.

• The exemptions of Large-Scale operations including benefits and obligations are formalized in an Investment Agreement (IA) which accompanies the licence.

• There are also opportunities for joint ventures in mining at the more junior or medium scale level which have been reserved for Guyanese but do allow for capital input.

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• The mining sector presents a host of investment opportunities throughout the cycle (being exploration, exploitation, development and associated manufacturing and industry).

• The traditional & non-traditional mineral suites are attractive options for investment.

• The manner in which the mining tenures of Guyana are structured allow for projects directly focused on regional exploration (Permission for Geological & Geophysical Surveys, Prospecting Licences), which can lead to mine development, extraction, recovery and with emerging options for energy and power, refining with downstream industrial scale manufacturing.

Fiscal & Economic Incentives

• Small, Medium and Large-Scale Miners can apply for remission of taxes on the purchase of item(s) for use in the mining sector.

• There is incentive for the several tenures in mining to be pursued, with much room for capital investments either independently or through joint ventures.

 Financial and insurance activities are anticipated to grow by 3.9 percent.

Hon. Oneidge Walrond, MP Minister of Tourism, Industry and Commerce

Guyana’s Comparative Advantage

Access to Local Inputs: Guyana’s natural resources provide manufacturers with an abundance of locally available and affordable inputs for value-added products within varied industries including agroprocessing, forestry, construction and mining.

 Real estate activities are estimated to grow by 2.3 percent.

 Wholesale and retail trade and repairs are expected to grow by 6.5 percent.

GOINVEST.GOV.GY Invest Guyana 2022/23 | 117 Invest Servicesin

 Administrative and support services are projected to grow by 2.5 percent.

Competitive Cost of Labour:

 Transport and storage services are projected to grow by 7.8 percent.

Internationalisation of the Economy:

WhyStrategicInvest?Placement

There are many infrastructural gaps within the service industry which provide equally as many opportunities to capitalise and create successful business ventures. Introduction of new technologies, improved management systems, catering for undeveloped markets, are ways in which gaps may be filled, productivity increased, and profit guaranteed.

CompetitiveMarketLabour

EnablingEnvironmentInvestment

Natural Resources

Guyana’s leaders have declared Guyana ‘open for business’ and are taking steps to improve the climate.investment Rich mineral deposits, productive land, forests, seas and rivers which present robust and diverse opportunities.investment

Stability Language

A secure and stable socioeconomic climate in which to do business. Predominantly Englishspeaking withtiesLatin-American Investment Projects Services industries globally play an increasingly important role in supporting their respective economies. Ranging from finance, communications, transportation, and logistics to professional services such as medicine, engineering, and law, a vibrant services sector supports and enhances all aspects of business growth and Somedevelopment.oftheareas for investment in Guyana’s Services Sector include:  Housing Social Housing Projects, Real Estate and Private Property Development.

 Construction industry is targeted to grow by 10.5 percent in 2022.

Vast Reserve Capacity to Improve Productivity:

Availability of Industrial Parks: The Government of Guyana has invested in a number of industrial parks with installed infrastructure available at G$1.00/US$0.005 per square foot per annum and investment concessions for materials, vehicles, plant and machinery.

As the economy opens up to international investors, businesses and processes, greater standards and more efficient technologies will be introduced which will enhance the expansion of the country’s economy.

 Growth in the services sector in 2021 was estimated at 11.9 percent and is projected to expand by 3.8 percent in 2022

Guyana has one of the lowest manufacturing wage rates in the Caribbean and Central America. The workforce is highly diverse and trainable.

Guyana Services Sector in 2022

- Quality assurance and quality control services



Increasing demand for culinary and fine-dining experiences as well as catering services. Consultancy

 Recycling Exemption of Duty and VAT on all machinery and equipment used in Subsector.  Solid Waste Collector Waivers of Duty and taxes on certain vehicles and equipment.

 Machining Wavier of Duty and taxes on all machinery and equipment. Recording Studios (Music) Waivers of Duty and Taxes on equipment and material.

Restaurants and Catering

 Funeral Homes Such investments received a wavier on Duty and VAT on hearses.

 Construction Hotels, factories, warehouses, infrastructure, recreational facilities.

 Medical Subsector Exemption of Duty and Value Added Tax (VAT) on all equipment and material needed for building.

Professional and consultancy services are required in all primary and secondary industries and become more important

 Medical Private hospitals, clinics and medical universities will be required to secure the health of the population and the vitality of the economy.



Entertainment - Music and film - Fashion - Sports - Other Recreational facilities such as spas, outdoor facilities, nightclubs.

Incentives Fiscal Incentives are available for some specific subsectors that fall under the Service Industry. These include:

 Education Medical schools under this subsector are offered exemption on Duty and VAT on all equipment and material needed to establish and VAToperate.and Corporate Taxes removed on corporate educational institutions.  Dock Yard and Ship Building Exemption of Duty and Taxes are available for the operation of drydocking facilities.

 Retail Services Includes supermarkets, electronic stores, gas stations, furniture stores, etc.

 Machine and Rentals

 Finance Insurance services to support risk, financing and investment activities for new ventures, financial assets (management and market), taxation and auditing services, and digital payment services.

Producing medicines and cosmetics from natural herbs and vegetation found in Guyana.



Includes fabricating, welding, machining and rebuilding and/or renting of machines, equipment and parts.

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As the country progresses, improved skills and expertise will be needed, therefore academic and vocational institutions will be required to effectively equip the populace.

 Education, Training and Certification

 Security Services

 Pharmaceuticals and Cosmetics

 Construction - Modular kitchen unit - Modular laundry units - Sheet piling-materials for piling construction - Pipe for piping - 20’-56’ office trailer - Warehouse fabric (and all components for 10,000 square meter construction) - Pre-engineering steel warehouse (all components for 20,000 square meter construction) Call centre operations

Transportation and Logistics - Bus, barge, ferry and trucking services and other modes of -transportationCourierandmessenger services - Air and sea port facilities.

Security services are important components of safety assurances in public and private spaces such as schools, office buildings, factories, shopping malls, government ministries etc.

 Environmental Services - Waste management and disposal and recycling services - Environmental consultancies to provide guidance on sustainable managementandlegislative requirements such as licenses and permits.



• Reduction of excise tax from 110% to 75% for new double-cab pickups between 2000 and 3000 cc.

• Ensuring Guyanese business can compete successfully under the new Local Content framework, improve competitiveness, secure business opportunities and create jobs for Guyanese nationals.

3. Reducing the Cost of Cranes, Safety Equipment, and Oil Spill Equipment

• Removal of the 2 percent withholding tax on resident contractors.

1. Parity in Tax Treatment for Local Content

• Removal of the 10 percent excise tax as well as the 14 percent VAT on the importation of new motor trucks of any tonnage for transport.

• Ensuring that Guyanese business are not in a disadvantageous position relative to international counterparts in competing for contracts within the oil & gas sector.

• Removal of the VAT of 14 percent on the importation of new haulers for pulling containers or similar vehicles for pulling.

• Removal of 10% excise tax on the importation of new single cab pickups below 3000 cc.

4. Advance Tax on Resident Contractors

2. Support Renewal of the Industrial and Commercial Fleet

• Removal of the 14 percent VAT on cranes, safety equipment, and oil spill response equipment

GOINVEST.GOV.GY Invest Guyana 2022/23 | 119  Machinery and Equipment - 30-50 T Rough terrain crane and spares - 130-160 T Rough terrain crane and spares - 160 T Crawler crane and spares - 180 T Crawler R crane and spares Budget 2022 Tax Measures

• Removal of 10% excise tax on the importation of new double-cab pickups below 2000 cc.

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Artist impression of new building Why Choose Assuria?

On the commercial front, the company offers unparalleled packages that cover almost any event that can put your business at risk. It also provides unbeatable group plans for life, health, and pension.

Assuria offers a wide range of services that cater to everyone’s needs under the categories of motor, home, life, health, travel insurance and pension plans.

Assuria boasts a 100% local workforce across its 10 offices throughout Guyana, offering innovative and competitive insurance solutions and financial products and services.

Mr. Yogindra Arjune, Managing Director of Assuria Guyana, says the company is demonstrating its full commitment to the local economy with the construction of its US$5M state-of-the-art Head Office Complex currently under construction in the heart of Georgetown, Guyana’s capital city. “We’re here to stay,” a proud and confident Mr. Yogindra Arjune told Invest Guyana. “We intend to grow our Companies, become a Caribbean insurance provider of choice while diversifying to enhance our current products and services offered. Assuria is also focused on becoming the number one insurance company in Guyana,” he

Located at 133 Church Street, Georgetown, this modern facility is pegged for completion in September 2022.

Celebrating 10 Years of Success...

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to Stay and Become the Leading Insurance Provider in Guyana”

“We’reaffirmed.Here

While this will be no easy feat, Assuria is up for the task and has already cemented its position as a market leader which will be seriously enhanced with the completion of its modern Head Office Complex that will encapsulate its vision, mission, and values. “While we know our services are of the highest standard, our current Head Office does not portray who we really are when compared to our Group. Our new building is a statement that we are here to stay and provide affordable and efficient services in a modern and comfortable environment for our staff and to our valued clients,” Mr. Arjune explained.

Today, as Assuria proudly celebrates its 10th Anniversary of operations in Guyana, it has grown to become one of the leading insurance providers in Guyana and the Caribbean.

In 2012, the Suriname-based insurance company Assuria ventured into the Guyana market, at a time when the public’s trust was still recovering from the effects of the downfall of a major regional insurance firm.

122 | Invest Guyana 2022/23 INVESTGUYANA.NET GENERAL LIFE  Fire  Motor  Bonds  Liabilities  Travel  Health  Individual Life  Group Life  Pensions  Annuity  Endowment  Term and Whole Life

But most importantly, Assuria offers empathy and “Weaffordability.care.Empathy is something we treat every customer with. We also offer affordability for every level of customer,” Mr. Arjune posited. “We listen to our customers and have created many options to suit their respective needs and wants. Listening and creating packages with options is something we pride ourselves in doing, especially when the customers are satisfied. We can assure all our current and future customers that this feeling of empathy will continue as we grow our Companies”. Another amazing quality that separates Assuria from others in the industry, is its constant desire to always improve – hence its heavy investments in training. In fact, the company is ISO 9001:2015 certified. “In order for us to maintain our ISO certification, we are required to continuously improve our services. Continuous training is a must as we see this as an investment and not an expense. We must be able to provide the services and bring that wow feeling to every Assuria client. That’s our goal,” the Managing Director noted.

Assuria has also been committed to Local Content and recognized the value of investing in Guyanese, long before “Local Content” became such a major topic induced by the Oil and Gas industry.

“We are 100% locally employed with a current compliment of, 71 staff and 16 fulltime Agents. Assuria have nine branches across Guyana; Vreed En Hoop, W.B.D, Parika E.B.E. Anna Regina, Essequibo Coast, Giftland Mall, Amazonia Mall, Linden, D’ Edward, W.B.B, Rosehall and Skeldon, Corriverton, Berbice. In keeping with our Corporate Social Responsibility programme, Assuria contributes to many in the social, sporting, and educational sectors. Annually, we have been paying hundreds of millions of dollars in taxes. All assets, including vehicles, were purchased from local suppliers,” the MD revealed.

Journey to Success Assuria saw the value of the Guyanese market long before there was any buzz about the Oil and Gas sector – which is currently attracting hundreds of investors from all parts of the globe to Guyana.

Taking that quantum leap came with many risks, Mr. Arjune recalled. But according to him, it was all worth it. “We wanted to fill the gap that was created when Clico went out of business and provide improved products and services. However, it was difficult for another foreign company to be trusted with what transpired with Clico,” he “Butexplained.once we were able to prove that we were different and solid as a Group, we were welcomed by the Guyanese population. They loved our unique products and the way we paid attention by tailoring our products to their needs while paying their claims promptly. Additionally, the service and care we give to our customers were not seen or felt before. Our growth was unprecedented from the first year,” the MD expressed. Assuria is now focusing on the future – how to continue improving our Companies for its current, forthcoming clients and employees, as we intend to ensure insurance remains a necessity and not a convenience.

Anna Regina Branch Office

After a decade of operations on local shores, Assuria intends to continue being compliant with the regulatory authorities and excitedly looks forward to what the future holds and promises to continue being an innovative, reliable, and trustworthy partner in the country’s journey to prosperity. www.assuria.gy

Preparing for More Success

Assuria is cognizant of the rapid economic growth of the country and is keenly crafting policies that will keep it on top of its game. With major developments in areas of Housing, Infrastructure, Agriculture, and Oil and Gas, Assuria says it is preparing to meet the demands of those expanding markets. In fact, Mr. Arjune revealed that, “we have already created packages to assist first-time home buyers or landowners from the Government Dream Realized programme. We currently provide support to contractors who are involved in all sectors to meet their financial requests in the form of bonds and other types of required insurances. Increased treaties and products are being developed as we see the demand from the respective sectors.”

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Assuria is conscious of the changes in the local business climate inclusive of the influx of foreign investors and international workers in the country. According to the Assuria Leader, the insurance provider is working to increase its capacity to deal with these developments. “The demand from foreigners is something the industry is trying to cope with. Assuria is no different, but we have already increased our capacity to cater for the infrastructure that is much larger than what we are accustomed to locally,” he explained.

“We have invested in modern software that can produce the kind of service that foreigners are accustomed to. We don’t expect them to go backwards for their insurance needs, so we have already begun the process of implementing cutting edge technology to cater for their needs with modern accommodations,” he added.

ince the emergence of the modern Guyana, investments in roads, highways, airports and other public infrastructure have been a strategic focus area for the government. The establishment of new road networks and highways has the ability to transform a country’s landscape in a way that gives rise to industrialisation and economic growth, which in many ways is still a basis for welfare today. It is difficult to imagine today’s standard of living without the current state of the transport network.

An aerial view of the $2.6 billion new Mandela Avenue to Eccles highway The development on the East Bank Demerara has also seen the construction of the Eccles to Diamond Interlink Road, at a cost of G$5 billion. This road runs from the Fourth Bridge, Mocha Arcadia all the way to Sixth Avenue Diamond. Like the Eccles to Diamond Road, the road offers a safe route for commuters and provides more economic opportunities. It also increases property value for existing homeowners along the carriageway.

InfrastructureCommunitiesConnectingthroughMega

Roundabout at the Mandela Avenue to Eccles four lane highway

In addition to serving as an alternative route, the Eccles to Mandela Highway, has opened access to new lands and carved a path for the establishment of new housing developments and new industrial and commercial zones.

With this in mind, the Ministry of Housing and Water through the Central Housing and Planning Authority while fulfilling its mandate in delivering affordable housing options to Guyanese has over the past two years embarked on a new trajectory which has seen the agency through its diverse group of engineers, designing and successfully spearheading the construction of two major road links that has brought relief to thousands of Guyanese. According to the President, His Excellency Dr. Mohamed Irfaan Ali, Guyana’s transport system will propel economic development, but in order for the economy to remain competitive the deficiencies in the road network systems have to be addressed. He has since entrusted the Ministry with the task of constructing highways that connect communities.

HIGHWAY DEVELOPMENT

Stretching 2.8 kilometers from Mandela Avenue, Georgetown to Eccles, East Bank Demerara, Guyana’s first four-lane concrete highway has been constructed through the agency.

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The G$2.3 billion modern thoroughfare, which was commissioned in April 2022, now improves connectivity across several communities on the East Bank of Demerara and provides relief from ‘snail paced’ traffic for over 20,000 residents. Commute time has also been significantly reduced for thousands of other individuals, who traverse the area for work, school, healthcare and other products and services.

The bidding process is also ongoing for a similar road network in Region Three from Schoonord, West Bank Demerara to Crane, West Coast Demerara.

Collectively all of these housing and infrastructure programmes have created a large employment reservoir across the country and provided jobs for skilled, semi-skilled and unskilled Lookingworkers.

In addition to house lot allocations, the Ministry has also started construction of over 1,000 homes in Regions Three, Four, Six and Ten. The schemes where these homes are built are also outfitted with the necessary infrastructure. So far, approximately 300 homes have been handed over to young professionals including doctors, police officers and teachers and other low, moderate, middle-income Guyanese.

towards the future of the construction sector, International Building Expo returns in July 2022, after a six year hiatus under the previous administration.

The Expo serves as a hub for hundreds of local, regional and international investors to showcase innovative techniques and products that will shape the future of the industry.

Minister of Housing and Water, Hon. Colin Croal (2nd from R) handing over keys to new homeowners Keeping on track with its goal to deliver 50,000 house lots by 2025, the Dr. Mohamed Irfaan Ali led Administration has allocated more than 11,000 house lots to Guyanese within the low, moderate and middle income brackets since August 2020; in Regions Two, Three, Four, Five, six, Nine and Ten. Billions of dollars have also been invested in this regard for the transformation of virgin lands to wholesome communities with road and drainage systems, pipe networks and electricity.

Minister Croal in a planning session for International Building Expo with his team, including Minister Rodrigues (L) and Permanent Secretary in the Ministry of Housing and Water, Andre Ally (2nd from R)

While transforming the nation’s infrastructure is crucial for economic and social development, the government has also recognized the need for legislative change. In this regard,

Minister within the Ministry of Housing and Water, Hon. Susan Rodrigues promoting the International Building Expo 2022

Even as Guyanese enjoy the benefits of these two roadways, the Government has commenced construction on the Eccles to Great Diamond Highway. This new road, which will cost G$13.3 billion, is expected to span 9.4 kilometers and will be connected to the Eccles to Mandela Highway, further improving the travel experience for Guyanese.

HOUSING

Coupled with the land allocation are also interventions to make homeownership more attainable, such as the raising of the low-income mortgage ceiling and the launch of the Home Construction Assistance Programme. The low-income ceiling was increased thrice in the past two years giving individuals that fit in this category the option to borrow as much as G$15 million, compared to G$8 million when the government took office in August 2020. Meanwhile, the Home Construction Assistance Programme is designed to assist families of all income brackets with government or private lands, to access financing and build their homes.

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President Dr. Irfaan Ali commissions the new water system at Lusignan while Minister of Housing and Water, Collin Croal; Permanent Secretary, Andre Ally; CEO of GWI, Shaik Baksh and other officials look on The 90% Treated Water Programme, detailed in the strategic plan 2021-2025 has commenced. The aim is to increase treated water coverage from 52% to 90%. To achieve this, the Ministry aims to construct thirteen new water treatment plants with a production capacity between twelve to fourteen mega litres per day at Charity, Onderneeming, Wakenaam, Leguan, Parika, La Parfaite Harmonie, Wales, Caledonia, Cummings Lodge/ Sophia, Bachelor’s Adventure, Enmore / Hope, Bath and Tain in Regions Two, Three, Four, Five and Six. Other interventions include the upgrading of existing water treatment plants in Regions Three, Four, Five and Six and the expansion and upgrading of twenty five water systems connected to the treatment plants. This programme has advanced to the procurement tender stage for the construction of the first seven (7) plants and upgrades of another twelve water treatment facilities. These investments are estimated at G$25 billion and will bring improved water quality to a population of more than two hundred thousand (200,000) Guyanese throughout the coastal region.

To improve the ease of doing business in Guyana, the Ministry has also embarked on the process to implement an electronic single-window planning permit system.

Chief Executive Officer of the Central Housing and Planning Authority (CP&HA) Mr. Sherwyn Greaves speaking at the launch of the Home Construction Assistance Programme in Region Three

As it relates to the Coastal Water Supply Programme, beyond 11,000 residents have benefitted from first-time access to potable water supply with the installation and expansion of water distribution systems in 2021. Drilling for two wells using in-house capacity has also been completed at Parika Backdam and Wakenaam in Region Three and Lusignan and Providence in Region Four to the benefit of 28,000 persons.

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the amended Condominium Bill was passed in the National Assembly in May, 2022. Through this modern piece of legislation owners of condos will now have access to titles, which can be accepted by banks. Insurance companies can also now issue policies to protect owners of condominiums.

Through the Guyana Water Incorporated (GWI), another subagency of the Ministry of Housing and Water, a New Strategic Plan 2021-2025 has been crafted.

Moreover, in hinterland and riverain communities, over 10,000 residents now have first-time access to water through the completion of 20 new wells and water systems; increasing hinterland water coverage from 46% to 60%. New wells and distribution networks were completed in the following communities: Port Kaituma - 2 Miles, Oronoque - Region 1; Chiung Mouth - Region 8 and Katooonarib, Toka, Potorinau & Parikwarwaunau - Region 9. The government is committed to achieving 100 per cent potable water access in the Hinterland by 2025 and some 49,000 residents will benefit from initiatives during this period.

As part of the company’s major Public Sector Investment Programme, Government has expended in excess of G$15.4 billion to support the expansion of water distribution systems, drilling of new wells to provide improved level and quality of service; including first-time access to water to more than 35,000 persons in over 60 communities across Guyana. Additionally, GWI has provided over 10,000 new service connections to support the rapid expansion in government’s massive housing drive and home ownership programme.

WATER SUPPLY AND IMPROVEMENTS

Since taking office in August 2020, the Dr. Mohamed Irfaan Ali-led Administration has also been keen on ensuring the delivery of potable water to citizens.

Government has provided more than G$410 million to procure and install major sections of the distribution network along Church Street, Georgetown which will see over 35% of the city residents benefiting from improved water quality and service levels. This will also provide tangible benefits in term of the reduction in water losses. To ensure operational efficiency, GWI will be investing in the maintenance of all power generators, water treatment plants, well stations, equipment and infrastructure to ensure that the customers receive a reliable service.

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For further information: Tel: (592) 223 www.chpa.gov.gy7521

Minister Croal commissioning the G$32.7 million Water Supply Improvement Project in the remote community of Monkey Mountain, Potaro – Siparuni (Region Eight)

Under the Urban Water Supply Programme, aged transmission mains were replaced at Vlissengen Rd, Newtown, Kitty, along Mandela Avenue and Cemetery Road in Georgetown, Region 4, as well as in Bartica, Region 7. Over 50,000 residents would have benefited from improved service delivery and quality as a direct result of the execution of these interventions.

The Ministry of Housing and Water and its associated Agencies are excited about the execution of its Strategic Work Programmes and its contribution to the National development Agenda and looks forward to the continued delivery of the improved services and the creation of new investment opportunities across Guyana.

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Tourism is the 3rd largest export earner sector in Guyana after oil and natural resources.

• Special incentives for new hotels and businesses

• Employment opportunities and income • Strengthen and grow the workforce

• By the end of 2022, 8 new hotels would have commenced construction • 12 new tourism products further diversifying our tourism experience

Hon. Oneidge Walrond, MP Minister of Tourism, Industry and Commerce

Tourism contributes to Guyana’s Green State Agenda and all 17 UN Sustainable Development Goals.

Overall Government’sStrategyVision is for Guyana to boast several world class eco-retreats. Government will implement measures to: • Promote nature, adventure and ecotourism, both locally and internationally

• Establishment of Hospitality Training Institute.

Earnings Guyana has earned approximately $24 billion (Sept 2021) based on the average expenditure per visitor per type at US$1,060. Job Creation Travel and Tourism contributes to 22,000 jobs in Guyana (2018). Travel and Tourism Travel and Tourism injected approximately G$62.6B directly into Guyana’s economy (2018)-Travel and tourism investment in Guyana is projected to increase to GY$7.7B by 2028. Visitors Guyana visitor arrivals increased to 131,381 in 2021, a 52 percent increase over 2020.

• Tourism and Business Facilitation Centre to be established in Lethem. Accommodation at Waikin Ranch, Rupununi

• Increase in world class hotels; estimated needs of 2000 additional rooms

Guyana is recognized as the world’s #1 Eco-tourism destination, Best in Sustainable Tourism, and Top 10 Sustainable Destination (2019)

GDP The total contribution of travel and tourism to GDP is estimated to be 7.8% (2018).

Budget 2022 Highlights • 300 million for the Small Business Development Fund

• Industrial Estates to be established in Regions 2&10. 300 million for access road infrastructure to new Industrial Estate in Enmore • New airlift to be added in 2022, bringing over 5,000 more seats per year

- 9 Sustainable Experiences in Latin America for 2021 - Wanderlust Magazine-Top 20 destinations to visit in 2021 - Condé Nast Traveler-Community-led and owned Tourism 3rd Largest Export Sector

Expenditure Based on the analysis of the VEMS survey of the BoS, GTA estimates that the average expenditure per international visit is GY$222,216. Contribution

Sector Highlights

• Removal of VAT on hinterland travel

Invest Tourismin

• Priority government support for tourism investment.

• Expanding international aviation capacity.

•

• A growing and expanding tourism industry.

• A country practicing sustainable tourism, given its low carbon development strategy model. • Affordable labour.

and activities • Rafting • Boating • Tennis • Horseback riding • Hiking • Kayaking • Mountain biking • Golf C. World Class Eco-Lodges or Resorts • To be developed in the interior D. Niche Market Products Investments in the infrastructure,

Tax Holidays

• Modernisation of trade operations through the development of the Electronic Single Window initiative to enhance the ease of doing business .

• Strategic location;-Guyana is part of both South America and the Caribbean.

Tax

and

Traditional East Indian cuisine

and services to support market segments such as: • Bird watching • Yachting • Deep-sea or river fishing E. Hospitality Services • Development of world class hotels • Restaurants • EcoRetreats F. Development of Business Services • Convention services • Catering • VIP Transportation • Communications G. Eco-Retreat Amenities • Nature trail • Animal Reserve • Bird Trailing • Water Park • Agri-Tourism and Culinary Fusion • Entertainment • Natural Wellness Spa • Gift shop/Indigenous/Artesian boutique H. Transportation Services • Expansion of scheduled and chartered air services • Expansion of boat and car rental services I. Craft Industry • Expansion of craft production J. Development Project Development

• $2 billion towards Rural Enterprise Development

Investment Projects A. Potential Locations for Investment - Region 2&3 -Beaches, resorts, falls, lakes, historical sites - Soesdyke-Linden - Region 10 - River front investment ideal - The Rupununi - Region 9 - Gateway to the Savannahs B. Existing Attractions and Activities - Kaieteur Falls Park - the single largest free fall waterfall in the world by volume of water poring over it Development area as a major tourist destination: facilities facilities of International Drag Racing

• 3,000 persons in the tourism sector to be trained in 2022: Largest tourism training campaign Establishment of the Guyana Online Tourism Training Academy

• Guyana’s pristine forest, dozens of waterfalls, stunning sun kissed savannahs, majestic mountains, breathtaking bio-diversity and unique, authentic cultural, adventure and indigenous experiences, make it the PERFECT destination for a lodge.

• Language (English-Speaking).

FavourableIncentivesTax Concessions.

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Exemption from Corporation Tax with respect to income from new economic activity of a developmental and risk bearing must create new employment in Regions 1,7,8,9 & 10. Vast land available for eco-retreats and pristine non-touched lands for agro tourism. exemption for NEW hotels/guesthouses/Inns in Regions 2, 3, 4, 5 & 6 should not have less than thirty (30) guest rooms tax exemption for NEW hotels/guesthouses/inns in Regions 1, 7, 8, 9, & 10 should not have less than fifteen (15) guest rooms.

• A secure and stable environment to do business.

Why Invest?

• A wealth of tourism investment opportunities.

• Off the beat path destination.

• Open foreign investment regime (incentives offered).

• Recreational

Tax Exemptions for Expansion/re-tooling of Operation of Tour

Share an Ice BanksIceBanksColdBeer.ColdBeer.

b. Full duty, excise tax and VAT exemption on 25% of the value of each motor vehicle.

a.Operators.Fullcustoms duty, VAT and excise tax exemptions on 25% of the value of the investment on camping equipment, floating crafts, non-motorized collapsible mobile lodging with basic amenities and each motor vehicle.

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AC Marriott Aiden Best Western Courtyard MarriottFour Points Sheraton PashaSleepGlobalInnH Towers Sheraton Hyatt PegasusPlaceHotel Suites and Corporate Centre. The newest hotel to open in Guyana in 2022 GOINVEST.GOV.GY Invest Guyana 2022/23 | 131

Guyana’s Tourism and Hospitality sector is set to transform the skyline of Georgetown and its environs since the announcement of Government approvals for a number of new high profile hotels to be built providing an additional 5,000 new hotel rooms to the current inventory.

Many of these new hotels are currently being built or are soon to break ground which will see many major internationally New Hotels Coming to Guyana renowned brands dotting the changing skyline and operating world class hotel facilities in Guyana as of 2023 and beyond. A number of the properties being built are owned by Guyanese nationals who have partnered with the international brands to operate the hotel when completed. See below drawings of some of the hotels to be built and the hotel brands to be managing them:

The majestic Kaieteur Falls Photo: Chetrani Munswami

“With these general training programmes, hotels, can move forward with specific training aligned with their franchise without having to start from scratch,” explains Tourism Minister Oneidge Walrond. These types of training will also prove beneficial as the country seeks investors to develop larger and more luxurious ecoGuyanalodges.

was named the Number One eco-tourism destination in the world by the Internationale Tourismus Börse (ITB) in 2019 with the Rewa Eco-Lodge in the North Rupununi winning an international award in the “Communities & Culture” category of the 2022 Green Destinations Story Awards.

Visit for the Adventure, Explore the Investment Opportunities

Guyana Beckons!

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With more than 276 breathtakingly beautiful waterfalls and award-winning eco-lodges cozily nestled in the country’s pristine rainforest; unique blackwater creek resorts; and a diverse culture and cuisine, Guyana is the perfect destination for next your vacation. Beyond that, it is the ideal location for a worthwhile investment in tourism. Before countries were forced to close their borders, Guyana recorded over 300,000 visitors in 2019 who spent US$325M into the local economy. Arrivals are projected to increase with heightened interest to discover Guyana – the uniquely South American and Caribbean country.

With the current short supply of hotel rooms, the Government of Guyana has opened the door for investments in new hotels and eco-lodges offering an attractive incentive regime. A number of investors have since been approved to develop world-class hotels partnering with international hotel brands such as Radisson Blu, Marriott Courtyard, Hilton and Hyatt. Construction of several boutique hotels in the heart of the capital city, Georgetown is another testimony to investors’ confidence in the economy which is expected to grow by 47.5% in 2022. To ensue visitors get the best tourism experience Government has approved US$900,000 to establish a Tourism and Hospitality Institute and a further US$143,000 for 2022 to train workers for the industry. Guyana has also partnered with Barbados – a leading Caribbean tourist destination – to train 6,000 Guyanese nationals in hospitality.

Celebrating strengthened relations between Guyana and Barbados in the tourism sector, Minister of Tourism, Commerce and Industry, Hon. Oneidge Waldron presents a token to the Barbadian Minister of Tourism and International Transport, Lisa Cummings

Rustic acommodation at the award-winning Rewa Eco-lodge Minister Walrond believes Guyana should ride the wave of these successes and create even bigger and better eco-tourism experiences. “There is need for upgraded facilities that cater to different tastes, needs and budgets. There is a gap for luxury rooms in the eco-tourism experiences and this is where investors can come on board,” she explained Flagship events like the Bartica and Essequibo Regattas, Rupununi Rodeos, Safaris, Indigenous Heritage Month celebrations, Mashramani, Republic Day and Independence Day festivities, Building Expo, GuyExpo, the Oil and Gas Conference and Expo are just among a multitude of annual events that present unique opportunities to elevate the local tourismSpectatorsexperience.enjoying the exciting and daring Rupununi Rodeo

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Exciting opportunities also exist for new investments as Guyana is confirmed to host the semi-finals and finals of the highly-anticipated CPL T/20 Cricket Tournaments for three consecutive years starting 2022. Vibrant supporters of the Guyana Amazon Warriors enjoying the party atmosphere at a CPL T20 game

“When persons from all around the world come to Guyana to attend these events, they are also looking to have fun and explore what the country has to offer, and this is where the investors can come onboard and work with us in Government to develop tourism packages that will leave visitors in complete awe,” she expressed.

“With a 500m viewership, this creates major opportunities for hotels, restaurants, the transport sector, resorts, tour agencies. The spin-off benefits from this single initiative are tremendous,” the Tourism Minister explained.

with a rich and intriguing history, having been colonized by the French, Dutch, and English prior to gaining Independence in 1966, Guyana is decorated with landmarks which could be added to the itineraries of tour operators.

Guyana is Open for Business. We welcome investors to our shores to explore the many opportunities and look forward to engaging them in facilitating their investments as we continue the transformation of the rapidly expanding Guyana economy. 

Minister Walrond posits too that the country needs more restaurants, entertainment hubs, family-oriented hangout spots and nightlife attractions to cater for the diverse desires of Moreover,tourists.

The same situation will prevail as Guyana continues to host a number of international events like the 38th session of the United Nations FAO LARC in 2024 and the upcoming Energy Conference and Expo in 2023.

President Dr Irfaan Ali championing the LCDS

Guyana is on the cusp of tremendous economic transformation. The Government of Guyana has an incredible vision, one which will see the country becoming an economic powerhouse within the region, and a leading sustainable tourism destination in the world. For this vision to be realised, the Government has implemented an inclusive, sustainable development initiative through its renewed Low Carbon Development Strategy (LCDS) 2030.

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The Ministry has taken significant steps to propel investment opportunities, including hosting Mr Eduardo Nycander through the Guyana Development Initiative. Mr Nycander, an eco-tourism expert, has since held discussions with several Government officials and tourism stakeholders to assess the prospects of bringing suitably qualified businesses to invest in Guyana’s eco-tourism

With this strategy, the work of the Ministry of Tourism, Industry & Commerce and the Guyana Tourism Authority, a multi-stakeholder, multi-destination collaborative effort for tourism development, has been prioritised. Through these partnerships, several investment opportunities that emphasise the growing demand for domestic tourism experiences can be realised.

Mostpotential.notably, partnerships such as the Memorandum of Understanding between Guyana and Barbados present unique opportunities for multi-destination tourism promotional efforts and build trade relations in areas of sector-wide education/training and hosting multicountry familiarisation trips.

Other areas within the tourism sector with immense investment potential, specifically through joint ventures with communities to blend luxury with eco-friendly, sustainable designs, should also be noted. The development of niche tourism experiences such as upscale/luxury ecolodges and resorts, adventure parks, campgrounds and villas and even golfing, which is currently at a US$4.8 billion market value, are priority areas for investment.

Tourism Partnerships & Investment Opportunities

• Nature Retreat Experience with licensed operator Wanderlust Adventures • Farm Experience with Vilas Gobin

• Linden Day Tour Experience with Destination Tours

• Community-led & owned tourism development with Quarrie Village, Region 9

• Tri-Island Experience with licensed tour operator Trail Masters Barbados and Guyana further deepened economic ties when a Memorandum of Understanding (MOU) was signed by Invest Barbados, Export Barbados (BIDC) and Go-Invest, the investment promotion agency of Guyana, at the 2022 International Energy Conference and Expo Guyana. Signatories included CEO, Invest Barbados, Ms. Kaye-Anne Brathwaite; CEO, Export Barbados, Mr. Mark Hill and CEO, GO-Invest, Dr. Peter Ramsaroop.

The Government of Guyana recognises the importance of foreign investment opportunities and welcomes those opportunities that align with the developmental goals of a developing oil nation. The tourism sector is poised for significant growth, and through continuous advocacy for investment relationships, its vision will be realised. The Guyana Tourism Authority is committed to working with potential investors and tourism stakeholders to improve existing products and implement new product development initiatives to propel investment opportunities within the sector.



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Architectural rendering of the Courtyard Marriott Hotel being built at the Cheddi Jagan International Airport Product Innovation & Development

• Wayne’s World Apartments & Oasis

With a projected 10% increase in visitor arrivals by the end of 2022, Guyana must be able to cater to the demand for accommodation to facilitate a growing and diversified target market. Through a US$1 billion investment, worldclass hotels will be constructed across the country to facilitate this, beginning with the AC Marriott in June. These are all the manifestations of investment opportunities that propel the sector forward.

• Kopinang Waterfall Experience with licensed operator Azure Experiences • Yoga, Breakfast & Nature Walk with licensed operator Azure Experiences

To decentralise tourism, expanding to other tourism hotspots areas within Guyana, seven experiential tourism products were officially launched in 2021, and 12 new experiences will be developed in 2022, including experiential culinary tours as well as nature therapy offerings, among Moreothers.specifically, for the first quarter of 2022, the Product Development team within the Guyana Tourism Authority has initiated projects in the following areas:-

• Nappi Mountain Trekking with Bushcow Eco-Trails

INVESTMENT OPPORTUNITIES BY SECTOR AGRICULTURE 1 Meat Processing Operation 2 Abattoir and Packing House 3 Seafood and Fish Processing Operation 4 Large Scale Cattle Ranching 5 Large Scale Pig Rearing 6 Large Scale Integrated Farms- Fruits and Vegetables, Aquaculture, etc. 7 Expanded Poultry Rearing 8 Value Added Coconut Processing 9 Dairy Operation & Value Added Dairy Products Production (Cheese,Yogurt etc.) 10 Canning and Packaging of Fruits and Vegetables 11 Corn and Soya Bean Production for Local and Export Markets 12 Certified Organic Farms 13 Roses Production ENERGY 14 Wind & Hydro Solar Farms 15 Waste to Energy Operation to serve the Oil and Gas Industry FORESTRY 16 Sawmilling, Wood Dressing Operation & Prefabricated Construction ICT 17 Expanded Call Centres/ BPO for Linden, Berbice, and Essequibo Counties 18 Data Centres 19 Expansion of Telecommunications Services to different regions. 55 BEST OPPORTUNITIESINVESTMENTINGUYANA 136 | Invest Guyana 2022/23 INVESTGUYANA.NET

3. Globalize our Sectors Guyana is establishing itself as a key exporter of agricultural products. There is tremendous market potential for produce and poultry for the global market. Guyana has hundreds of thousands of acres of arable land to make this a reality.

1. Build Global Partnerships Creating a culture of excellence. We are partnering with local and international companies to increase our development capacity across all sectors. Furthermore, we plan to proliferate knowledge transfer for our local workforce through these partnerships.

The Government of Guyana is lowering the cost of electricity through various energy projects: gas to shore pipeline, hydro, solar, and wind power. This, in turn, will result in a dramatic increase in efficiency for large-scale manufacturing and agro-industrial projects.

2. Increase Competitiveness

Guyana is experiencing transformative and exponential growth led by the rapidly expanding Oil and gas sector. Opportunities for investors with a vision and a capacity to deliver are immense. Guyana is open for investments with its vast natural resources: a young, educated, and English- speaking population; stable and open financial markets; investment protection under the law; unrestricted repatriation of profits; and capital; duty-free access, equal treatment for local and foreign investors. The growing economy and improved infrastructure will bring benefits for regional partners. Guyana and Brazil will benefit from a long-planned road opening the door to bilateral trade. Another major project is the construction of the Corentyne Bridge, which will link Suriname and Guyana and further expand Guyana’s investment portfolio. Both Foreign Direct Investment (FDI) and Local Content Investment (LCI) are the engines for economic growth and development. The agency looks forward to its continued contribution to the growth of the economy.

MANUFACTURING 20 Garment/ Textile Factory 21 Cosmetics Manufacturing 22 Pharmaceutical Manufacturing 23 Sundried Fruits 24 Glass Factory 25 Gold Refinery & Value Added Jewelry for Export 26 Alumina Plant 27 Pre Cast & Cement Factories 28 Coco Peat Manufacturing 29 Animal Feed Production (Rice Barn, Wheat Middling etc.) 30 Herbal Teas/ Essential Oils Production 31 Manufacturing Gluten Free Products - Rice Flour, Noodles etc. 32 Furniture Manufacturing 33 Manufacturing Capital Goods 34 Clay Brick Manufacturing 35 Manufacturing of Biodegradable Containers and Packaging MINING 36 Bauxite Industry Development 37 Sand Mining for the Oil and Gas Industry (Frac + Sand Mining) 38 Mining of Semi-Precious Stones SERVICES 39 Teaching Hospitals & Specialized Medical Centres /TeleMedicine and Laboratories/Assisted Living Facilities 40 Financial Institutions/ Banks/ Private Equity 41 International Universities 42 International Business Park (office facilities for either services and or manufacturing companies, and ancillary services.) 43 Sanitation Infrastructure (For provision of adequate supply of Water and Waste Water Treatment facilities) 44 Cold Storage for Export 45 Logistics & Supply Chain Management 46 Air Cargo (for fresh and Frozen Produce) 47 Large Scale Conference Facilities 48 Recycling Plant 49 Internationally accredited Training Facilities (Oil & Gas, Hospitality) TOURISM 50 Theme Parks 51 Marina and Entertainment Facility 52 Ship Cruisers Terminals 53 Eco Tourism, Spa and Wellness Resort, Golf Courses 54 Medical Tourism HOUSING 55 Condo Development * Investments are not only limited to these projects and NOT ALL are eligible for incentives. Over the next year, Invest-55 will be a central pillar in promoting immense opportunities in traditional and non-traditional sectors: Agriculture, Energy, Forestry, ICT, Manufacturing, Mining, Services and Tourism GUYANA IS OPEN FOR INVESTMENT. WE ARE ACCELERATING IT'S INVESTDEVELOPMENT.INPLACESTHATMATTERTOYOU!BETTERIDEAS,BETTERINVESTMENT! GOINVEST.GOV.GY Invest Guyana 2022/23 | 137

There is an obligation to file an annual return with the Registrar, along with the audited financial statements.

A registration fee of between G$80,000 to G$300,000 is payable depending on the share capital of the company.

REGISTERING SOLE PROPRIETORSHIP OR A PARTNERSHIP Under the Business Names (Registration) Act, a sole proprietorship or a partnership carrying on business under a business name other than the true surname of the proprietor (or names of partners), is required to be registered. The Partnership Act governs the workings of partnerships in Guyana.

A registered external company is required to lodge audited accounts with the Registrar on an annual basis. A registered company is entitled to own land in Guyana as may be authorized by licence of the President.

INCORPORATING A NEW COMPANY

 Statutory declaration by an attorney-at-law on the suitability of signatories to the articles of incorporation.

General information is provided on areas of interest to investors including methods of establishing a business in Guyana, taxation issues, employment issues, investment protection and environmental considerations, among others.

 Statement containing details such as the company name; the jurisdiction incorporated in; the date and manner of incorporation; the company’s share capital; the extent of limited liability; the undertaking in Guyana and date of commencement; the full address outside Guyana and in Guyana; and the names, addresses and occupations of the directors of the company.

 Details of the persons who are to be first director(s) and secretary, and their consent to serve.

A foreign company established under the laws of a country other than Guyana can register to carry on business in Guyana as an external company under the Companies Act.

REGISTERING A FOREIGN COMPANY

 Articles of incorporation giving details such as the name proposed for the company; the registered office in Guyana; the share capital – rights, privileges, restrictions, conditions, payment terms; and the size of the board of directors.

I: FORMS OF BUSINESS

Prepared by Khalil Alli, FCA MSc., Partner, Jack A. Alli, Sons & Co. Chartered Accountants

 Statutory declaration by an attorney-at-law that the Companies Act has been complied with.

There are several options for establishing a business in Guyana including incorporating a new company, registering an established foreign company in Guyana, establishing a partnership or operating as a sole proprietorship.

A registration fee of G$63,900 is required.

 A fully executed power of attorney that shall empower some person named in the power and resident in Guyana to act as attorney of the company.

To register, the following documents should be submitted to the Registrar:

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Under the Companies Act, a company can be registered with submission of an application to the Registrar containing the following:

 Statutory declaration by two directors of the company attesting to the information submitted to the Registrar, along with a copy of the corporate instruments of the company.

 The name, nationality, usual place of residence and other business occupation of the sole proprietor or every individual who is a partner. A registration fee of G$5,000 is payable.

Where companies are engaged in both commercial and non-commercial activities, the commercial activity is taxed at 40% and the non-commercial activity is taxed at 25%.

Corporate bodies are required to pay corporation tax in quarterly installments on March 15, June 15, September 15, and December 15 of the year of income. Any shortfall of taxes after accounting for quarterly installments should be met by April 30 following the year of income.

Losses may be carried forward indefinitely to be set off against future profits. Brought forward tax losses cannot be used to reduce the tax payable of any year by more than 50%. Loss carrybacks are not permitted.

II: TAX REGIME

 The business name, general nature of the business and the principal place of business.

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BRANCH PROFIT

TAX Corporation tax is charged at a rate of 40% for commercial activity (except telephone companies) and at a rate of 25% in the case of any other activity. Telephone companies pay corporation tax at a rate of 45%.

Payments to Foreign Affiliates

A company may claim a deduction for charges paid to foreign affiliates, provided such amounts are reasonable and necessary, having regard to the requirements of the trade. Deduction for head office expenses is restricted to the lesser of the charge and 1% of gross income of the company. Head office expenses include charges from a non-resident parent company, or a non-resident associate company of a company resident in Guyana, or a nonresident associate or subsidiary company of a non-resident company in respect of a branch or agency owned by the non-resident company in Guyana, or the head office of a non-resident company in respect of a branch or agency in Guyana, for any administrative, technical, professional or other like service of an essentially managerial nature.

Where the actual corporation tax liability of a commercial company as computed at 40% or 45% is less than 2% of the turnover of the company, the Corporation Tax Act provides for the payment of corporation tax at the rate of 2% of turnover - referred to as minimum tax. Insurance companies and any company exempt from corporation tax are exempt from minimum tax. Minimum tax paid in excess of the actual corporation tax liability is recoverable once proven to the satisfaction of the Commissioner-General and on the raising of an assessment. Tax returns must be filed by April 30 of the year following the accounting year-end. Accounting year-ends that do not coincide with the calendar year-end must be approved by the tax authority. Tax returns are required to be submitted with audited financial statements.

CORPORATION

The corporation tax rates on branch profit are the same as for companies. Branch profit net of corporation tax is subject to withholding tax at 20%.

Registration of a business name requires submission of an application to the Registrar containing the following details:

Commercial activity means an activity carried out by a company trading in goods not manufactured by it, and includes an activity of a commission agency, a telecommunications company, a bank and an insurance company (other than a long-term insurance company).

GROUP TAXATION

There are no group taxation provisions.

TAX LOSSES

INCOME TAX Income is taxable when it accrues in or is derived from Guyana, whether or not the individual is resident in Guyana, and whether or not the income is received in Guyana.

WITHHOLDING TAXES

National insurance contributions are required at a rate 14% of earnings, with 5.6% being deducted from employees’ salaries and 8.4% being contributed by employers. Selfemployed persons contribute 12.5% of earnings. There is a monthly earnings ceiling of G$280,000.

Also, the employee’s national insurance contributions are allowed as a deduction in determining taxable income. The rate of income tax is 28% on taxable income up to G$150,000 per month and 40% on earnings beyond this level. Self-employed persons make income tax payments in quarterly installments with any shortfall of taxes being made by 30 April following the year of income. Employed persons have income taxes withheld under the pay-as-youearn (PAYE) system.

Withholding tax at 20% is deducted at source on gross distributions and other specified payments (e.g. royalties, management fees, rent) made to non-residents. Payments to non-resident companies on account of any contract undertakings are subject to withholding tax at 10%. These withholding taxes on contracts are a form of advance tax to be set-off against final tax liabilities.

NATIONAL INSURANCE SCHEME

CAPITAL GAINS TAX Gains arising from disposal of capital assets held for between 1 and 25 years are subject to capital gains tax at a rate of 20%. Capital assets held for more than 25 years are not subject to capital gains tax upon subsequent disposal. Gains arising upon the disposal of capital assets within 12 months of acquisition are subject to corporation or income tax as appropriate. Capital losses are allowed as an offset to capital gains and may be carried forward for a period of 24 years.

EXCISE TAX Excise tax is charged on the importation or domestic manufacture of motor vehicles, petroleum products, tobacco products and alcoholic beverages.

Employment compensation includes all benefits and allowances derived from employment, except allowances for medical or dental expenses or for any passage to or from Guyana and allowances for subsistence, travel, vacation (limited to one month’s gross salary), entertainment, or expenses if proven to the satisfaction of the tax authority.

VALUE-ADDED TAX Value-added Tax at a rate of 14% is charged on taxable supplies of goods and services. There are certain categories of supplies which are zero-rated or exempt.

Tax returns must be filed by April 30 of the year following the year of income.

PROPERTY TAX Property tax is payable on net property of companies and individuals at the end of year of income. The first G$40 million of net property is exempt, the next G$20 million is taxed at 0.5% and thereafter a rate of 0.75% applies.

CUSTOM DUTIES Customs duty is charged on the importation of goods into Guyana. The rate applicable varies by type of good.

There is a personal allowance equivalent to the higher of G$75,000 per month or one-third of the employee’s salary.

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STAMP DUTY Stamp duties are charged on various types of instruments, except retail transactions. The rate applicable varies by type of instrument.

III: LABOUR LAWS IN GUYANA REGIME

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LABOUR

CORPORATION

DOUBLE TAX TREATIES



Guyana has effective double taxation treaties with Canada, the United Kingdom and CARICOM Member States that have ratified the CARICOM Double Tax Treaty.

Guyana has several laws which govern the employment of labour. Some of the significant laws in this regard are as follows:



Exemption for corporation tax for these activities shall be for a period not exceeding 2 years. A tax credit equalling 75% of income and corporate taxes on profits can be granted on the provision of tourism activities in regions 1, 7, 8, 9 and 10.



 Labour Act  Termination of Employment and Severance Pay Act  Wages Council Act  Leave with Pay Act  Shops (Consolidation) Act  Prevention of Discrimination Act  Occupational Safety and Health Act  Labour (Conditions of Employment of Certain Workers) Act  Trade Unions Recognition Act  Employment of Young Persons and Children Act  Licensed Premises Act  Factories (Hours and Holidays) Act

 Infrastructural Development, including the Production of Electricity using Renewable Sources of Energy New economic activity in one of the following administrative regions of Guyana may also qualify for exemption from corporation tax:  Region 1: Barima / Waini  Region 7: Cuyuni / Mazaruni  Region 8: Potaro / Siparuni  Region 9: Upper Takatu / Upper Essequibo  Region 10: Upper Demerara / Upper Berbice

Exemption is granted for a period of up to 5 years but may be extended up to 10 years if the activity is in one of the specified economic fields. In the case of infrastructural development, the exemption may extend beyond 10 years. In addition to the above provisions, the Minister may grant an exemption from corporation tax with respect to income from the following activities:  Wind and Solar Energy  Water Treatment and Water Recycling Facilities  Waste Disposal and Recycling Facilities for Plastic Items

TAX HOLIDAY Under the Income Tax (In Aid of Industry) Act, the Minister of Finance may grant an exemption from corporation tax with respect to new economic activity of a developmental and risk-bearing nature in one of the following fields: Non-Traditional Agriculture Development and AgroProcessing  Information and Communications Technology  Petroleum Exploration, Extraction, or Refining Mineral Exploration, Extraction or Refining Tourist Facilities  Value-Added Wood Processing  Textile Production  Biotechnology  Development and Manufacturing of New Pharmaceutical Products, Chemical Compounds and the Processing of Raw Materials to Produce Injectables

EXPORT ALLOWANCES

Companies that export sales of manufactured, processed or agricultural products are entitled to export allowances as a deduction from chargeable profits. The quantum of the allowance is dependent on the percentage of export sales to total sales. Products that do not qualify for this allowance are bauxite, gold, diamonds, petroleum, sugar, rum, molasses, rice, timber, lumber, and shrimp.

The normal work week is legislated as 40 hours over not more than 5 days. Any hours of work beyond normal hours are remunerated as overtime in accordance with applicable Thelaw. statutory minimum wage in Guyana is G$44,200 per month; however, the public service minimum wage is G$70,000 per month.

Holders of licenses issued under the Petroleum (Exploration and Production) Act and parties to Petroleum Agreements with the Government of Guyana, and their sub-contractors, are required to comply with the Local Content Act. The

 To allow investors to purchase or lease land in Guyana subject to existing laws  Not to intervene in the management of investor’s activities, nor impose conditions on the sale, pricing or distribution of associated products, except in the pricing of utilities  Guarantee the right of investors to determine the distribution of all profits and dividends, and to receive their share of such profits or dividends subject to settlement of corresponding tax obligations  To allow the employment of skilled and expert foreign personnel when necessary with the approval of the relevant authority and in accordance with applicable laws

Application for work permit requires information on both the employer and the intended non-national employee.

Foreigners require a work permit to be employed in Guyana.

BUSINESS IN GUYANA

 Not to compulsorily acquire or take possession of the investment unless for a purpose in law, on a non-discriminatory basis, with prompt payment of adequate compensation and with a right of access to the court system

V: OTHER MATTERS OF INTEREST LOCAL CONTENT

These laws address matters such as the treatment of wages and salaries, normal hours of work and overtime, leave with pay, safety, health and welfare, accidents and occupational diseases, termination of employment and severance pay, registration and regulation of industrial establishments, collective agreements, employment of young persons and duty of employers to keep records.

Under the Investment Act, the Government of Guyana provides various assurances to investors with respect to any investment made in Guyana, including the following:

TRANSFERS OF FUNDS ABROAD

EMPLOYMENT OF FOREIGNERS

The Investment Act provides that in cases where disputes arise among investors or with the Government of Guyana, the following avenues are available if the matter is not amicably settled through consultation or mediation:  Submit the dispute to arbitration under the Arbitration Act  Refer the matter to the competent courts in Guyana

The Investment Act also allows investors to transfer funds, subject to payment of applicable taxes, for the following purposes:  Repatriation of dividends, earnings and capital  Remittance of proceeds of sale or liquidation of an investment  Payment of interest on international loans  Payment for imports  Payment of fees for trademarks, royalties and management services  Payment of licensing fees for franchising agreements

Transfers of funds may be prevented however in circumstances of bankruptcy, insolvency, criminal proceedings, court orders or judgements or when necessary for the protection of stockholders or creditors.

DISPUTE RESOLUTION

 Submit the matter to the International Centre for the Settlement of Investment Disputes (ICSID) of which Guyana is a member

IV: INVESTMENT PROTECTION RIGHTS AND GUARANTEES

DOING

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A CARICOM national holding a CSME Skilled National Certificate and his/her spouse are not required to obtain work permits to be employed in Guyana.

ANTI-MONEY LAUNDERING

Author’s note: The information contained in this article is for general guidance on matters of interest only and is not meant to be comprehensive. It is recommended that you obtain advice specific to your circumstances from professional advisors before proceeding. 145 Crown Street, Queenstown, Georgetown, Guyana T: 592-226-2904 | W: www.jackalli.com

The unit of currency in Guyana is the Guyana Dollar which is freely convertible into other currencies based on prevailing market conditions. All monetary obligations or transactions in Guyana are required to be expressed, recorded and settled in Guyana Dollars unless permission is obtained from the Bank of Guyana which is responsible for the regulation of the financial sector in Guyana. Under the Investment Act investors may open accounts in Guyana Dollars and in foreign convertible currencies with licensed banks in Guyana.

 Installation for the treatment of waste water, industrial or domestic waste

 Dams and other installations designed to hold liquid or to store it on a long-term basis

STOCK EXCHANGE

Under the Environmental Protection Act, administered by the Environmental Protection Agency, a developer of any of the following types of project, or any other project that is likely to impact the environment is required to obtain an environmental permit.

The Anti-money Laundering and Countering the Financing of Terrorism Act is the primary legislation in this area. The Financial Intelligence Unit, provided for under the Act, is responsible for the handling of suspicious transaction reports and other information relating to money laundering, terrorist financing and the proceeds of crime.

 Importing of any waste matter whether hazardous or not  Release, use or keeping of any genetically modified organisms  Harvesting and utilization of forest resources

Anationals.Guyanese

CURRENCY MATTERS

 Extraction and conversion of mineral resources

The accountancy profession in Guyana is regulated by the Institute of Chartered Accountants of Guyana (ICAG). Accounting standards adopted for application in Guyana are the International Financial Reporting Standards. The ICAG is a member body of the International Federation of Accountants and the Institute of Chartered Accountants of the Caribbean.

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 Construction of any hotel, guest house or inn above ten rooms

 Installation for hydro-electric energy production  Construction of roads, harbours and airfields

The Guyana Association of Securities Companies and Intermediaries Inc. operates the Guyana Stock Exchange. There are presently fifteen companies on the Exchange.

DECLARATION OF BENEFICIAL OWNERSHIP Companies incorporated or registered under the Companies Act of Guyana are required to declare beneficial interest to the Registrar of Companies. Beneficial interest is defined in AML-CFT legislation as person (or persons) who ultimately exercises individually (or jointly) voting rights of at least 25 percent of the total.

ENVIRONMENTAL PROTECTION

legislation identifies forty sectors with defined targets that are reserved for Guyanese companies and Guyanese company is defined as being incorporated under the Companies Act of Guyana and which (a) is beneficially owned by Guyanese nationals who control at least fifty-one percent of voting rights; and (b) that has Guyanese nationals holding at least seventy-five percent of executive and senior management positions and at least ninety percent of non-managerial and other positions.

ACCOUNTING STANDARDS

OFFICE OF THE PRIME MINISTER Colgrain House, 205 Camp St., North C/burg, Website:Email:Tel:Georgetown(592)225-2705opm@opm.gov.gywww.opm.gov.gy

MINISTRY OF FINANCE 49 Main & Urquhart Sts, Georgetown Tel: (592) 227 3992 Email: Website:publicrelations@finance.gov.gywww.finance.gov.gy

MINISTRY OF TOURISM, INDUSTRY AND COMMERCE 229 South Road, Lacytown, Georgetown Tel: (592) 226 2505 Email: Website:info@business.gov.gywww.business.gov.gySt.George'sCathedral, Georgetown

Government Offices

MINISTRY OF PARLIAMENTARY AFFAIRS AND GOVERNANCE 105 New Garden Street, Queenstown, Website:Email:Tel:Georgetown(592)231-9944minpag@mpag.gov.gywww.mpag.gov.gy MINISTRY OF AGRICULTURE Regent St. & Vlissengen Road, Bourda, Tel:Georgetown(592)223 7291 Email: Website:agri.pr.gy@gmail.comwww.agriculture.gov.gy

MINISTRY OF EDUCATION Address: 21 Brickdam, Georgetown Tel: (592) 223 7900 Email: Website:pr@moe.gov.gywww.education.gov.gy

OFFICES AND AGENCIES

MINISTRY OF PUBLIC WORKS Wight’s Lane, Kingston, Georgetown Tel: (592) 225-7420 Email: Website:minister@publicinfrastructure.gov.gywww.mopw.gov.gy

GOVERNMENT

MINISTRY OF LEGAL AFFAIRS 95 Carmichael St, Georgetown Tel: (592) 226 2616 Email: Website:ps@mola.gov.gywww.mola.gov.gy

MINISTRY OF HOME AFFAIRS 6 Brickdam, Georgetown Tel: (592) 226 2444/5 Email: Website:minister@moha.gov.gywww.moha.gov.gy MINISTRY OF HOUSING AND WATER 41 Brickdam & United Nations Place, Georgetown Tel: (592) 226-5533 Email: Website:info@mohw.gov.gywww.mohw.gov.gy MINISTRY OF HUMAN SERVICES AND SOCIAL SECURITY 357 Lamaha & East Sts, Georgetown Tel: (592) 225 6545 Email: Website:minister.mhsss@gmail.comwww.mhsss.gov.gy

MINISTRY OF LOCAL GOVERNMENT AND REGIONAL DEVELOPMENT De Winkle Building, Fort St, Kingston, Tel:Georgetown(592)227 3548 Email: Website:ps@mlgrd.gov.gywww.mlgrd.gov.gy MINISTRY OF NATURAL RESOURCES 96 Duke Street, Kingston, Georgetown Tel: (592) 231 2506 Email: Website:ministry@nre.gov.gywww.nre.gov.gy MINISTRY OF PUBLIC SERVICE 164 Waterloo St, North Cummingsburg, Tel:Georgetown(592)226 8732 Email: Website:personnel@mps.gov.gywww.mps.gov.gy

MINISTRY OF HEALTH 1 Brickdam, Stabroek, Georgetown Tel: (592) 227 7986 Email: Website:mophguyanapr@gmail.comwww.health.gov.gy

MINISTRY OF CULTURE, YOUTH AND SPORT 71-72 Main Street, Georgetown Tel: (592) 227-7860 Email: Website:minofcys@gmail.comwww.mcys.gov.gy

OFFICE OF THE PRESIDENT Shiv Chanderpaul Drive, Georgetown Tel: (592) 225-1330 Email: vpguy2020@gmail.com

MINISTRY OF AMERINDIAN AFFAIRS 251-252 Thomas & Quamina Sts, Georgetown Tel: (592) 226 5267 Email: Website:ps@moaa.gov.gywww.moaa.gov.gy

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MINISTRY OF LABOUR 82 Brickdam, Georgetown Tel: (592) 231 1379 Email: ministryoflabour.gov.gy@gmail.com

OFFICE OF THE PRESIDENT Shiv Chanderpaul Drive, Georgetown Tel: (592) 225-1330 Email: Website:opguyana@gmail.comwww.op.gov.gy

MINISTRY OF FOREIGN AFFAIRS AND INTERNATIONAL COOPERATION 254 South Road, Georgetown Tel: (592) 226 1606/7 Email: Website:minister@minfor.gov.gywww.minfor.gov.gy

LOCAL CONTENT SECRETARIAT Ministry of Natural Resources 116-117 Cowan Street,Kingston, Georgetown Tel: (592) 225-8315 Email: Website:localcontent@nre.gov.gywww.nre.gov.gy

NATIONAL INSURANCE SCHEME Brickdam & Winter Place, Stabroek, Georgetown Tel: (592) 225-2790 Email: Website:public_relations@nis.org.gywww.nis.org.gyViewofGeorgetownandtheDemerara River

Government Agencies

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GUYANA CIVIL AVIATION AUTHORITY 73 High St, Kingston, Georgetown Tel: (592) 225-6822 Email: Website:it@gcaa-gy.orgwww.gcaa-gy.org

ENVIRONMENTAL PROTECTION AGENCY Ganges Street, Sophia, Georgetown, Tel: (592) 225-5467 E-mail: Website:epa@epaguyana.orgwww.epaguyana.org

GUYANA OFFICE FOR INVESTMENT (GO-INVEST) 190 Camp & Church Sts, Georgetown Tele: (592) 225-0658 Email: Website:goinvest@goinvest.gov.gywww.goinvest.gov.gy

GUYANA ENERGY AGENCY 295 Quamina St, Website:E-mail:Tel:CummingsburgGeorgetownSouth(592)226-0394gea@gea.gov.gywww.gea.gov.gy GUYANA FORESTRY COMMISSION 1 Water Street, Kingston, Georgetown Tel: (592) 226-7271 Email: Website:Email:Tel:93GuyanaWebsite:forestrygy@gmail.comwww.forestry.gov.gyGeologyandMinesCommissionUpperBrickdam,Georgetown(592)225-6691info@ggmc.gov.gywww.ggmc.gov.gy

GUYANA LANDS & SURVEY COMMISSION 22 Upper Hadfield St. D’Urban Backlands Tel: (592) 226-6490 Email: Website:region4office@glsc.gov.gywww.glsc.gov.gy

GUYANA REVENUE AUTHORITY 200-201 Camp St., Georgetown Tel: (592) 227 6060 Email: Website:publicrelations@gra.gov.gywww.gra.gov.gy

GUYANA RICE DEVELOPMENT BOARD Ministry of Agriculture Complex, Guysuco Compound L.B.I, East Coast Demerara Tel: (592) 220-4732 Email: Website:inf@grdb.gywww.grdb.gy

GUYANA NATIONAL BUREAU OF STANDARDS Flat 15 Exhibition Site Sophia, Georgetown Tele: (592) 219-0066 Email: Website:info@gnbsgy.orgwww.gnbsgy.org

DEPARTMENT OF PUBLIC INFORMATION D’Urban Park, Area ‘B Homestretch Avenue, Website:Email:Tel:Georgetown(592)226-6715info@dpi.gov.gywww.dpi.gov.gy

GUYANA TOURISM AUTHORITY National Exhibition Site, Sophia, Georgetown Tel: (592) 219-0094 Email: Website:info@guyanatourism.comwww.guyanatourism.com

GOVERNMENT OFFICES AND AGENCIES

CENTRAL HOUSING & PLANNING AUTHORITY 41 Brickdam & United Nations Place, Georgetown Tel: (592) 226-5533 Email: Website:info@chpa.gov.gywww.chpa.gov.gy

NATIONAL AIR TRANSPORT ASSOCIATION 158 D Waterloo Street North Cummingsburg, G/town Tel: (592) 600 - 7272 Email: nata@gmail.com

GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY 156 Waterloo Street, North Cummingsburg, Website:Email:Tel:Georgetown(592)225-5846gccicommerce2009@gmail.comww.georgetownchamberofcommerce.org

CONSULTATIVE ASSOCIATION OF GUYANESE INDUSTRY LTD 157 Waterloo Street North Cummingsburg, Email:Fax:Tel:Georgetown(592)226-4603(592)227-0725goolsarrancagi@gmail.com

GUYANA MANUFACTURING AND SERVICES ASSOCIATION LTD 157 Waterloo Street, N/Cummingsburg, Tel:Georgetown(592)223-7405-6, 225-5615 E-mail: Website:gma_guyana@yahoo.comwww.gmsagy.org

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ESSEQUIBO ISLANDS/WEST DEMERARA CHAMBER OF COMMERCE AND INDUSTRY Lot “A” Ocean View, Ruimzeight Gardens Ruimzeight, West Coast Demerara Tel: (592) 616-8323 E-mail: R3cco.gy@gmail.com

GUYANA RICE EXPORTERS AND MILLERS ASSOCIATION INC. 24 Water Street, North Cummingsburg, Tel:Georgetown(592)227-3344, 226-8843 E-mail: newgrema@gmail.comraj@nandpersaud.com

FOREST PRODUCTS ASSOCIATION OF GUYANA 157 Waterloo Street, North Cummingsburg, E-mail:Fax:Tel:Georgetown(592)226-9848(592)226-2832fpasect@guyana.net.gy

GUYANA GOLD AND DIAMOND MINERS ASSOCIATION 29 North Road, Bourda, Georgetown Tel: (592) 225-2217 Email: minersassociation@yahoo.com

ESSEQUIBO CHAMBER OF COMMERCE AND INDUSTRY Town Council Building, Essequibo Coast Tel: (592) essequibochamber@yahoo.com649-0642

GUYANA ASSOCIATION OF BANKERS Block A, Lots 30C and 30D, Bel Air Park, Tel:Georgetown(592)227-4440, 223-7938 E-mail: kim.samaroo94@gmail.com

GUYCRAFT PRODUCERS ASSOCIATION 1-4 Urquhart Street, North Cummingsburg, Email:Tel:Georgetown(592)227-0646patricia_helwig@yahoo.com

INSTITUTE OF PRIVATE ENTERPRISE DEVELOPMENT 253 South Road, Georgetown Tel: (592) 226-4675 Fax: (592) 223-7834 E-mail: Website:iped@ipedgy.comwww.ipedgy.com LINDEN CHAMBER OF INDUSTRY COMMERCE AND DEVELOPMENT Region 10 Business Centre, 97-98 Republic Avenue, Linden Tel: (592) 444-2901 E-mail: infolindenchamber@gmail.com

UPPER CORENTYNE CHAMBER OF COMMERCE AND INDUSTRY 157 Line Path B, Corriverton, Berbice Tel: (592) 339-2935 E-mail: uccci.chamber@gmail.com

WOMEN CHAMBER OF COMMERCE AND INDUSTRY GUYANA 230 Camp Street, Georgetown, Guyana Tel: (592) admin@wcciguyana.com632-0091

RUPUNUNI CHAMBER OF COMMERCE AND INDUSTRY Block A Takutu Drive, Lethem, Rupununi Tel: (592) 772-2213 E-mail: rupununircci@yahoo.com

BERBICE CHAMBER OF COMMERCE AND DEVELOPMENT ASSOCIATION 12 Chapel Street, New Amsterdam, Berbice Tel: (592) 333-3324 E-mail: bccda@guyana.net.gy

PRIVATE SECTOR AGENCIES

GUYANA ASSOCIATION OF PRIVATE SECURITY ORGANISATIONS 273 Lamaha Street, Georgetown Tel: (592) 225-4794 E-mail: thompsonchris558@yahoo.com

CENTRAL CORENTYNE CHAMBER OF COMMERCE Plot CC Williamsburg, Rose Hall Town Tel: (592) 322-5264 E-mail: central_corentyne@yahoo.com

SHIPPING ASSOCIATION OF GUYANA 10-11 Lombard Street, Georgetown Tel: (592) 226-2169 Fax: (592) 226-9656 E-mail: guyana.shipping@mail.com TOURISM AND HOSPITALITY ASSOCIATION OF GUYANA 157 Waterloo Street, Georgetown Tel: (592) 225-0807, 225- 6699 Fax: (592) 225-0817 E-mail: Website:thag.secretariat@gmail.comwww.thag.co

MISSIONS

Acting High Commissioner - Ms. Vonetta HighVictorCommission for the Cooperative Republic of Guyana 3 Palace Court, Bayswater Road, London, W2 4LP, England E-mail: Fax:Tel:Website:guyanahc1@btconnect.comwww.guyanahclondon.co.uk442072297684442077279809

BRAZIL Consul General - H.E Shirley Melville Consulate General of the Cooperative Republic of RuaGuyanaJoaoPereira Caldas 71-Nossa Senhora Aparecida CEP: Tel:Email:BoaCNPJ:69.306-45005.870.492/001-90Vista-Roraimaguyanaconsulatebrazil@hotmail.com001559536241129,001559581234219

SOUTH AFRICA High Commissioner (Ag.) - Ms. Candida Daniels High Commission for the Republic of Guyana Suite H, Third Floor Grosvenor Place, 235 Grosvenor Street PO. Box 12238 Hatfield 0081, Pretoria , South Africa E-mail: ghcpretoria@hcguyana.co.za Tel: +27 79 648 6373; +27 12 941 1694 Fax: +27 12 342 2736

EMBASSIES/OVERSEAS

CUBA Ambassador – H.E Abdool Halim Majeed Embassy of the Cooperative Republic of Guyana Quinta Avenida, No. 4205, Between 42 and 44 Miramar, Playa Havana, Cuba E-mail: geh@mission.gov.gy/ guyanasecretaria@ Fax:Tel:Website:gmail.comwww.guyanaembassycuba.com5372042094/22495372042867

CONSULATES GENERAL BARBADOS Acting Consul General - Ms. Geneva Tyndall Consulate General of the Cooperative Republic of ‘HarbourGuyanaView House’ Highgate Park, Collymore Rock St. Michael, BB14005, Barbados E-mail: Fax:Tel:guyanaconsulategeneralbarbados@gmail.comguyanaconsulate.bb@mission.gov.gy24653727672465372776/2779

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KUWAIT Embassy of the Cooperative Republic of Guyana Block 3, Street 321, Villa 3 Mubarak Abdullah Al Jaber West Mishref, State of Kuwait Email: guyanaembassy.kuwait@gmail.com Tel: 965 2539 7939; 965 2539 4336 Fax: 965 2539 3448

VENEZUELA Chargé d’Affaires - Mr. Robin Montayne Embassy of the Cooperative Republic of Guyana Quinta Los Tutis Segunda Avenida entre Novena y Decima UrbanizacionTransversal Altamira, Municipio Chacao Caracas, Venezuela E-mail: csembguyccs@gmail.com Tel: 58 212 267 7095; 58 212 261 7745 Fax: 58 212 976 3765

CANADA Toronto Consul General (Ag.) - Gerald White Consulate General of the Cooperative Republic of 505GuyanaConsumers Road, Suite 707 Willowdale, Ontario, M2J 4V8, Canada E-mail: info@guyanaconsulate.com Tel: 0011 416 494 6040; 416 494 6059; 416 494 2679 Fax: 416 494 1530 NEW YORK Consul General (Ag.)- Ms. Aneesha Allie Consulate General of the Cooperative Republic of 308GuyanaWest38 Street, 8-9 Avenue New York , NY 10018, USA E-mail: cgny@guyanaconsulatenewyork.org Tel: 212 947 5115 6; 212 947 5110-9 Fax: 646 915-0237

SURINAME Ambassador – H.E. Keith George Embassy of the Cooperative Republic of Guyana Henck Arronstraat No. 82 P. O. Box E-mail:Paramaribo,785Surinamegep@mission.gov.gy; kgeorge@minfor.gov. Tel:gy 597 477 895; 597 472 509 Fax: 597 472 679

Chargé d’Affaires- Mr. Lloyd Gunraj Embassy of the Cooperative Republic of Guyana 3rd BoulevardFloor Brand Whitlock 114 1200 Brussels, Belgium Email: info@embassyofguyana.be (general) consular@embassyofguyana.be (visas, etc.) trade@embassyofguyana.be (trade) Website: www.embassyofguyana.be Tel: 322 675 6216 (office) Fax: 322 672 5598

SWITZERLAND Chargé d’Affaires - Kerrlene Wills Permanent Mission of the Cooperative Republic of Guyana to the United Nations Office and other International Organizations at Geneva 1 rue du Pre-de-la-Bichette 2nd 1202FloorGeneva, Switzerland Email: pmog.gv@gmail.com Tel: +41 22 730 1790; +41 22 730 1791 (Office Fax:Reception)+4122 730 1792 Counsellor’s Direct Line: + 41 22 730 1794 Trade Specialist Direct Line: +41 22 730 1795

UNITED KINGDOM

BRAZIL Chargé d’Affaires- Mr. Jevon Rodrigues Embassy of the Cooperative Republic of Guyana SHIS Q1 05 Conjunto 19, Casa 24, Lago Sul, Brasilia DF, Brazil CEP 71615 – 190 CNPJ: 04 489 260/ 0001-23 E-mail: embguyana@embguyana.org.br. Tel: 55 61 3248 0874; 55 61 3248 0875; 55 61 3364 5319 Fax: 55 61 3248 0886 CANADA High Commissioner (Ag.) - Ms. Cindy Sauers Guyana High Commission 151 Slater street, Suite 800 Ottawa, ON K1P 5H3, Canada Email: guyanahcott@rogers.com Tel: 0011 613 235 7249/40 Fax: 0011 613 235 1447

INDIA High Commissioner - H.E Charrandas Persaud High Commission for the Cooperative Republic of E-7/19GuyanaVasant Vihar New Delhi – 110057, India E-mail: hcomm_ind@mission.gov.gy Tel: 9111 4166 9717/8 (Office) Fax: 9111 4166 9714

CHINA Ambassador - H.E. Choo Ann Yin Embassy of the Cooperative Republic of Guyana No. 1 Xiu Shui Dong Jie Jian Guo Men Wai Beijing 100600, China E-mail: Fax:(Direct)Tel:Website:admin@guyanaembassybeijing.cnwww.guyanaembassybeijing.cn861065321601/1337;861065326037861065325741

Tel: 202 265 3834; 202 265 6900; 202 328 1567 Fax: 202 232 1297

QATAR Ambassador - H.E. Safraaz Shadood Embassy of the Cooperative Republic of Guyana Villa no.5, Street no.506 zone no.66, West Bay, Doha, Qatar Email: sshadood@minfor.gov.gy Tel: +974 5549 1972

PERMANENT MISSION TO THE UN Ambassador - H.E Carolyn Rodrigues-Birkett Permanent Representative Permanent Mission of the Cooperative Republic of Guyana to the UN 801 Second Avenue, Fifth Floor New York, New York 10017, USA E-mail: Guyana@UN.int Tel: 212 573 5828 Fax: 212 573 6225

GUYANA

UNITED STATES OF AMERICA Ambassador - H.E Samuel Archibald Hinds Embassy of the Cooperative Republic of Guyana 2490 Tracy Place, N. W. Washington, D.C., 20008, USA E-mail: guyanaembassydc@verizon.net

BELGIUMEMBASSIES

Fax:(Mobile)962 6 552 6570

SOUTH KOREA Honorary Consul - Dr. Wan Hee Kim Consulate of Guyana Trico International Ltd. Rm. 201, Hyunjin Building 226-29, Seoul,Mapo-guYunnam-dong,121-865,Republic of Korea Email: whkim@tricoint.co.kr Tel: 82 2 784 7202 Fax: 82 2 784 9073 Website: www.tricoint.co.kr

BELIZE Honorary Consul - Mr. Hugh Saul Consulate of Guyana 27 Ridge Lagoon Estates Lady Ville, Belize District, Belize Email: hughasaul@gmail.com Tel: 501 225 3863 (Office); 501 602 3472

JAMAICA Honorary Consul - Ms. Indera Persaud Consulate of Guyana 1 Gerbera Close Kingston 6, Jamaica E-mail: inderasawh@yahoo.com Tel: 876 968 5983 (Office); 876 815 2713 (Mobile)

HAITI Honorary Consul - Mr. Marc Kinson Antoine Consulate of Guyana Adeko Enterprises S.A 42, Blvd. Toussaint Louverture (A côté de la Douane de l’Aéroport) Port-au-Prince, Haiti E-mail: mk.antoine@adeko-ht.com Tel: +509 2815 2815(Office); +509 3701 0617 (Mobile)

JORDAN Honorary Consul - Mr. Samir Yacoub Khoury Consulate of Guyana 102 King Abdullah II Street Dabouq, 11821 Amman, Jordan Email: Tel:guyanamissiongr@gmail.comsamir.khoury@upb.com.jo;9626652685000(Office);962 79 633 2600

INDIA Honorary Consul - Dr. Ajeenkya D Y Patil Group Consulate of Guyana B Wing, 401 G Block, Behind ICICI Bank Building, BKC, Mumbai 400051, India Email: consul@adypg.gy; adp@dypatil.com Tel: 022 3928 6100, 020 6707 7707 Fax: 022 3928 6198 HonoraryLebanon Consul - Mr. George Matta Consulate of Guyana Selim Bustros Street, 1st Floor, E1 Dar Building Achrafteh, Beirut, Lebanon Email: gmatta@dm.net.lb Tel: 961 1 202 220 (Office); 961 1 200 689 (Office); 961 3 444 300 (Office) Fax: 961 1 336 711

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BRAZIL Honorary Consul - Mr. Carlos Frederico Zimmrman Neto Consulate of Guyana Av. São Luís, 112 c. Conj 402a – Centro, São Paulo –Cep:SP 01046-000, Brazil Tel: 001 55 11 3159 2200; 001 55 11 8137 1045 E-mail: zimmermann@zn.adv.br

PHILIPPINES Honorary Consul - Mr. Joseph D’Oliveira Consulate of Guyana 9G Yakal Road, Tivoli Royale Matandang, Balara Quezon City, Manila, Philippines Email: josephdoliveira@gmail.com Tel: 632 236 4517

HONORARY CONSULS ANTIGUA AND BARBUDA Honorary Consul - Mr. Robert Edwin Reis (Bobby) Consulate of Guyana, Suite 4, Corner Corn Alley & Long Street St. John’s, Antigua Email: images1955@gmail.com Tel: 268 720 5751 Fax No: 268 463 0561 BAHAMAS Honorary Consul - Mr. Jairam Mangra Consulate of Guyana Suite 5, 432 Bay Street, Nassau, The Bahamas P.O Box CB 11666, Cable Beach, Nassau Email: Fax:Tel:guyanaconsulate.bahamas@gmail.comjairammangra@hotmail.com;jmmangra@mangraandco.com;2423282883(Office)2423282881

PERU Honorary Consul - Mr. Jorge A. Alarcon Revilla Consulate of Guyana Av. Jose Pardo 231 Piso 4 Miraflores, Lima 18, Peru Email: esalarcon3@gmail.com Tel: 511 447 6688; 511 9999 3331 Fax: 511 445 5339

BOTSWANA Honorary Consul - Mr. Terrence Pariaug Consulate of Guyana C/o Century Office Supplies 5679 Broadhurst, Gaborone, Botswana Email: tpariaug@yahoo.com Tel: 267 391 2655 (Office); 267 318 2675 (Home); 267 7171 0354 (Mobile)

GREECE Honorary Consul - Mr. Nabil E. Bahu Consulate of Guyana Erithrou Stavrou 3 and Makka, 1 Ambelokipi, GR - 11526 4th Floor, Athens, Greece Email: leriso75@gmail.com Tel: +302106727592; +302106727593 Emergency Cell +306948572411

BRAZIL Honorary Consul - Mr. Paulo Gomes Dos Santos Consulate of Guyana Rua Lauro Muller 116 Group 2604, Botafogo, Rio de Janeiro 22290-160, Brazil Email: Cel_paulo@hotmail.com Tel: 001 55 21 2542 9595 Fax: 001 55 21 2295 2798 Website: celpaulo.consuladoguianario.com.br

Honorary Consul - Mr. Athos Stylianou Consulate of Guyana Limasso Avenue No. 2 Office No. 39, 2220 Laxia, Nicosia, Cyprus Email: g.e.consult@cytanet.com.gy Tel: 357 248 6800 (Office); 357 242 9250 (Home) Fax: 357 242 5375

NEPAL Honorary Consul - Mr. Binod Shrestha Consulate of Guyana BB Line Pvt Ltd Ward Number 1, Bhupi Sadak, Naxal Kathmundu, Napal Email: bbline@net.net.np Tel: 977 14 433 444; 977 14 432 999; 977 985 102 0771 PALESTINE Honorary Consul - Dr. Peter Luffi Qumri Consulate of Guyana P.O. Box Bethlehem293– PNA, Palestine Email: pqumri@hotmail.com Tel: 970 2 274 3205 (Home); 970 599 21 5035 Fax:(Cell)970 2 274 3492

SURINAME Consul General – Mr. Darius Frank Consulate General of the Cooperative Republic of Guyana Gouverneur Straat & West Kanaal Straat No. 10 Nickerie, Suriname E-mail: gcn@mission.gov.gy Tel: 597 211 019 Fax: 597 212 080 TRINIDAD AND TOBAGO Consul General (Ag.) - Ms. Deborah Yaw Consulate General for the Cooperative Republic of No.Guyana12Alexandra Street St. Clair , Port of Spain, Trinidad & Tobago Email: ghctt@mission.gov.gy; dyaw@minfor.gov.gy Tel: 868 622 2913; 868 628 2616

DOMINICAN REPUBLIC

Honorary Consul - Mr. Dario Lama Consulate of Guyana Av. Leopoldo Navarro # 28, Ensanche Miraflores Santo Domingo, Districto Nacional 10203 Dominican Republic Email: Website:dario.lama@gmail.comconsulatr@embelize.org; embassy@ Tel:embelize.org8095655531 (ext. 213); 809 567 5023 (Office); 809 547 2037 (Home); 809 399 7161 (Mobile) Fax: 809 566 1087; 809 567 7159

VENEZUELA Honorary Consul - Mr. Patrick Husain Consulate of Guyana Avenida Gumilla Via El Pao San BolivarFelixState, Venezuela Email: patrickhusain@yahoo.com Tel: +58 412 1872267 (office); 0412 8783529

SAINT LUCIA Honorary Consul - Mr. Lokesh Singh Consulate of Guyana P.O. Box 2003 Gros Islet, St. Lucia Email: lokesh@amscaribbean.com Tel: 758 453 1149 (Office); 758 484 6168 (Mobile) ST. MAARTEN Mrs. Kim SuiteConsulateHonoraryLucas-FelixConsulofGuyana4,D&BCommerce Center Cannegieter Street #46 Philipsburg, St, Maarten Email: guyanahonoraryconsulsxm@gmail.com Tel: +(721) 527 0704

MIAMI Honorary Consul - Mr. Ramzan Roshanah Ali Consulate of Guyana 6444 NW 7th Street Miami, Florida 33150, USA E-mail: guyconfl@aol.com Tel: 786 235 0431 (Office); 954 432 7079 (Home); 305 389 0537 (Mobile) Fax: 305 693 9313

SRI LANKA Honorary Consul - Mr. D. Laksiri Mendis B/10/4 Empire Residencies 51, Braybrooke Place, Colombo 02, Sri Lanka E-mail: mendis_law@yahoo.com Tel: 0094775926203 (Mobile); +94(0) 11 2305177 (Office) SWEDEN Honorary Consul - Mr. Per Goran Eklund Consulate of Guyana Odengatan 33 Stockholm,SE-11351 Sweden Email: pereklund20@yahoo.com Tel: 46 8 408 27 853; 46 70 686 2627 (Mobile)

SAINT VINCENT AND THE GRENADINES

TURKEY Honorary Consul - Mr. Erol K. Makzume Consulate of Guyana Veko Giz Plaza, 2nd Floor No. 3-4 Meydan Sokak 34398

Honorary Consul - Mr. Nigel Russell Consulate of Guyana Mc Carthy St. Vincent and the Grenadines Email: (784)2466/592Tel:newguyanasvg@gmail.comnigelrussell612017@gmail.com;(784)4856618or4531222;5926032224886;5265159(Mobile)

SAINT KITTS AND NEVIS Honorary Consul - Ms. Denice Alleyne Consulate of Guyana Hazel Alleyne Law Office Victoria Road, Basseterre St. Kitts, West Indies Email: dalleyne@hazelalleynelaw.com (work); Deniecea76@gmail.com (personal) Websites: www.hazelalleynelaw.com; www. Tel:sknguyanaconsulate.com8694653986(office); 869 763 9257 (Mobile)

UNITED STATES OF AMERICA

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GEORGIA Honorary Consul - Ms. Marva E. Jacobs Consulate of Guyana 5683 Redan Road Stone Mountain GA 30088, USA E-mail: marvajacobs04@gmail.com Tel: 604 578 0962 City Hall. Georgetown

CALIFORNIA Honorary Consul - Mr. Raymond Anthony D’Aguiar Consulate of Guyana 150 W. Providencia Avenue Burbank CA 91042, California, USA E-mail Tel:guyanaconsulatelosangeles@aol.com:Raymond@americanbinderyservice.com;8184228942

GOINVEST.GOV.GY Invest Guyana 2022/23

Fax:90Tel:erolmakzume@makzume.comEmail:Istanbul,MaslakTurkeyguyanaconsulate.tr@makzume.com;902122902950(Office);902122235047(home);5345245811(Mobile)902122902965

Arthur Chung Conference Centre 79 Atlantic Ventures Inc. 102 Banks DIH Ltd - Banks Beer 130 Banks DIH Ltd / Banks Automotive - Uni Carriers Forklifts 38 Best Western 54

150 | Invest Guyana 2022/23 INVESTGUYANA.NET ADVERTISERS’ INDEX

Advertising & Marketing Services (AMS) 120 ANSA Motors/Rentals 8

C T Williams Technologies Inc Inside Back Cover Century 21 Real Estate 54 Cerulean Inc 127 CIC Insurance Brokers 41 Crown Port & Industrial Park 102 Demerara Distillers Ltd (DDL) 89 E-Networks Outside Back Cover Evergreen Adventures 22 Excel Guyana 4 Farm Supplies Ltd (FARMSUP) 59 Fullworks Industrial Park 62 GAICO Construction Inc 5 General Equipment Guyana Ltd (GENEQUIP) 14 Global Gold Enterprise Inc 116 Green Gibraltar 105 Guyana Bank for Trade & Industry (GBTI) 12 Guyana Marketing Corporation 85 Guyana National Bureau of Standards 83 Guyana Oil Co Ltd (GUYOIL) 48 Guyana Port Inc. 120 Guyana Rice Development Board (GRDB) 87 Guyana Shore Base Inc (GYSBI) 46 Guyana Telephone & Telegraph Co (GT&T) 19 Guyana Telephone & Telegraph Co (GT&T) 64 Guyana Tourism Authority Inside Front Cover Halliburton 95 Harris Paints (Guyana) 39 Impressions 91 interCaribbean Airways 1 John Fernandes Group 52 Massy Motors Guyana Ltd. 3 NALICO / NAFICO 48 National Energy Corporation of Trinidad & Tobago 2 Navigant Builders Inc (Windsor Estates) 49 New Hayven Merchant Bank 26 Mohamed's Enterprise /HADI's WORLD/Serenity Court 119 Pneumatic Suppliers Inc 29 Queensway Security Service Inside Front Cover Ramps Logistics Guyana Inc 98 Republic Bank (GUY) Ltd. 30 Roraima Airways Group 60 RUBIS Guyana Inc. 36 S. Jagmohan Construction and General Supplies / DCSN 112 SBM Offshore 78 Stabroek Marketplace 15 SunFrame 34 Super Concrete Inc 111 Teleperformance Guyana Inc 21 The Hardware Depot 115 TLC Guyana Inc 105 Toolsie Persaud Group 123 Toolsie Persaud Quarries Inc 127 TotalTec Oilfield Services Inside Front Cover Trans Guyana Airways 22 Trinuyana Investments/AC Marriott Hotel 42 Tropical Shipping 115 UMAMI Inc 89 Varaya Inc 6