HOUSTON, TEXAS – Private Sector Commission (PSC) Chairman Gerald Gouveia Jr. is urging investors to partner with Guyana as the country works to sustain rapid economic growth driven by its oil sector.
He made the call on Monday, May 4, at the U.S.-Guyana Business Exchange Reception, held at the Grand Tuscany Hotel in Houston.
“What we need now are the partners to help us carry it forward,” he said.
Gouveia said Guyana’s expansion since its 2015 offshore oil discovery and first production in 2019 has been deliberate and supported by public and private sector collaboration.
“The economy didn’t grow by accident,” he said.
Guyana’s offshore production is led by ExxonMobil with co-venturers Hess (owned by Chevron) and CNOOC. Four developments are currently producing: Liza 1, Liza 2, Payara and Yellowtail. Additional projects, including Uaru and Whiptail, are in development.
Gouveia said oil and gas has driven expansion across multiple industries.
“If you think about a balloon when it expands… what we have seen over the last five years is an exponential growth… expanding in every single direction,” he said.
He identified agriculture, logistics, technology and tourism as areas requiring investment. He said a US$1.5 billion agriculture market is expected to emerge within four years, while logistics demand continues to grow.
“We’re diversifying into logistics… maritime trucking, air logistics, cold storage, warehousing, and the list goes on and on,” he said.
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Gouveia said technology development is also a priority, including data centers and digital services supported by energy resources. He told investors the country needs population growth, capital and technology to sustain expansion.
“We need more people in the country… we need more technology… and frankly, we need more money in the country,” he said.
Gouveia urged attendees to engage with Guyanese businesses and explore investment opportunities.
“We are actively looking for partners. We are looking for people to invest with us to develop the Guyana of the future,” he said.
