Oil and gas revenues from exploration activities at the Stabroek Block are being used as a catalyst to expand Guyana’s non-oil economy and strengthen long-term competitiveness. This is according to Dr. Peter Ramsaroop, Chief Investment Officer and CEO of the Guyana Office for Investment (Go-Invest).
In an exclusive comment to OilNOW, Dr. Ramsaroop said non-oil sectors are growing alongside offshore oil developments led by ExxonMobil.
“Oil and gas created the fiscal space, but it is non-oil investment that will secure Guyana’s long-term prosperity. Guided by Vision 2030, the Guyana Office for Investment is deliberately facilitating capital into agriculture, manufacturing, tourism, logistics, and now artificial intelligence. Our strategy is clear – use energy revenues as a catalyst, not a crutch,” he said.
Among the projects are the US$250 million Tristar Shore Base and Energy Terminal, internationally branded hotels including AC Hotel by Marriott Georgetown, Four Points by Sheraton Georgetown, and developments under the Hilton Hotels & Resorts portfolio.
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Investments also include agro-processing, light manufacturing aligned with tax-free agricultural policies, and diaspora-funded industrial projects.
“These are not pipeline ideas – they are signed agreements, operational facilities, and projects under construction,” he said, referring to major non-oil investments facilitated by GO-Invest.
Ramsaroop highlighted that the country’s growth – supported by the Natural Resource Fund (NRF) – is rooted in intentional investments in agriculture, manufacturing, tourism, education, and information and communication technology (ICT). He pointed out that these initiatives are supported by a strategic approach to financial management and by a government that prioritizes inclusivity and focuses on future development.
He said new measures in the 2026 National Budget are expanding tax-free sectors across agriculture, agro-processing, manufacturing, and emerging industries, noting that lower energy costs from the Gas-to-Energy project are expected to improve competitiveness.
