Americas Market Intelligence (AMI) has once again placed Guyana at the top of its eco-political ranking of investment destinations in Latin America. The firm’s ‘Latin America 2024 Outlook: The Good, The Bad And The Ugly’ analysis found Guyana’s score so outstanding that it created a new category ‘The Exceptional’ for the country to occupy solely.
AMI scored Latin American countries in eight metrics, based on indicators like debt, economic growth, foreign direct investment and transparency.
“Not only is this small nation of less than one million inhabitants a US ally, but it is also home to the most exciting energy economy in the world, thanks to the investments of America’s third largest company, Exxon,” AMI said.
Noting Guyana’s world-leading double-digit growth year after year, AMI noted that opportunities are not only present in the oil sector.
It said, “Government spending will ramp up as its coffers are filled, as well as private spending on infrastructure (ports, roads, refining, telecommunications) and ancillary sectors (real estate, finance, retail, you-name-it, etc.)”
There was worry late in 2023 about tensions related to Venezuela’s pursuit of Guyana’s Essequbo region. AMI said the controversy represents “barely a smudge” on Guyana’s bright future, branding the Venezuela President, Nicolas Maduro, “desperate for political distraction.”
The two countries agreed to maintain peace in December and have been working to normalize diplomatic relations.
AMI said few believe Washington will tolerate a Venezuelan military incursion into Guyana.
ExxonMobil, having discovered 11 billion oil-equivalent barrels offshore Guyana, has said it is not going anywhere. The company has lined up six oil projects and plans to exceed 1.2 million barrels of oil production per day (b/d) by 2027.
