Guyana’s Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, has called on business leaders to convert the country’s economic momentum into “broad-based, inclusive and sustainable” growth that will outlast the oil boom.
The country is well on its way to producing 900,000 barrels of oil per day from the four developments in the ExxonMobil-operated Stabroek Block.
Delivering the feature address at the opening of the International Business Conference 2025 on Tuesday, Ally said the event had evolved into an institution for promoting trade, investment, and business.
Ally said the region must reject isolation, declaring that, “the world doesn’t reward isolation; it rewards integration.” He described Guyana as “a country on the move” and one of the world’s fastest-growing economies. However, he stressed that the government’s goal is not merely expansion, but good growth that is broad-based, inclusive and sustainable.
The minister explained that Guyana’s economic expansion will create opportunities across sectors – from construction and logistics to services, technology, tourism, and agribusiness.
Turning to the private sector, Ally urged Guyanese companies to use this period of economic strength to develop capacity, competitiveness and courage.
He said firms must build beyond domestic borders, encouraging them to “think regionally, think globally” and to create institutions that endure.
Drawing on regional examples, Ally pointed to Trinidad and Tobago’s transformation of its oil wealth into regional champions in manufacturing, finance and commerce. He said Guyana has the same potential to produce companies headquartered in local towns but operating seamlessly across Bridgetown, Port of Spain and Kingston.
To achieve this, Ally outlined five key priorities: building reputable brands, forming regional partnerships, harmonizing standards and logistics, investing in people, and innovating through technology. “A strong brand doesn’t just sell products, it sells confidence,” he said.
He added that the government is building the infrastructure and policy environment to help firms grow “not just within our borders, but across the region” with a focus on making Guyana a major player in Caribbean food and energy security.
“The Caribbean imports US$6 billion in food annually,” he said. “There is no reason why Guyana cannot supply a significant share of that demand.” He also said the country’s oil resources give it a “unique responsibility” to help stabilize regional energy costs, promote cleaner technologies and power the Caribbean’s industrial future.
The conference, which features 15 panel sessions and a major business-to-business exhibition, focuses on renewable energy, manufacturing, technology, and investment incentives for both local and foreign investors.
