Pres Ali stresses diversification as measure of economic success

Guyana’s success will be judged by how well it diversifies its economy and protects itself against global shocks, not by the revenue it earns or its growth rate.

His Excellency Dr Mohamed Irfaan Ali stressed the point on Thursday evening while addressing the official opening of GuyExpo 2026 at the National Exhibition Centre in Sophia, Greater Georgetown.

“The test of our success will not be in the revenue we’re able to generate,” he told the audience. “It will not be in the growth rate of our economy…it will be on how well we are able to diversify our economy and expand our economic foundation.“

This, he said, will demonstrate resilience and sustainability while ensuring the economy and the country are equipped to withstand global shocks.

The Guyanese leader spoke of an investment group with more than US$10 billion in investments under its portfolio and approximately US$5 billion in pre-approved investments. That group arrived in Guyana today and is exploring opportunities in agriculture, infrastructure, housing, tourism and logistics, rather than the oil and gas sector.

He said the government’s policies are predictable, clearly defined and well-articulated, so every local and foreign investor knows about the available opportunities and incentives.

He pointed to the International Monetary Fund’s 2026 Article IV report as independent confirmation. The report states that Guyana’s real GDP grew by more than 19 per cent in 2025. That growth is spread across construction, services and ICT. It also says employment rose by nearly 60 per cent between 2020 and 2025, while unemployment fell from 12.8 per cent to 6.2 per cent.

“This is not guesswork. This is not cherry-picking,” President Ali said.

The head of state said the government’s role is to help Guyanese own more businesses, create jobs and compete regionally and internationally. He wants foreign contractors and oil and gas companies to partner with local firms to bid for work abroad within three years.

GuyExpo is Guyana’s longest-running trade exposition. This year’s theme is “Creating Tomorrow’s Opportunities Through Today’s Investments,” and it features over 317 booths.

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