Companies interested in entering Guyana’s market are encouraged visit the country on an exploratory mission as business is culturally done on a face-to-face basis.  Firms are encouraged to conduct rigorous due diligence on any prospective partners and seek out reputable firms with a proven track record.  A local partner can expedite the startup phase of a business, assist with regulatory applications and approvals, and facilitate a speedier transition into the market.  Furthermore, in the oil and gas sector in some instances partnering may be viewed as mandatory to comply with the LCA.  Guyana’s business community is undergoing a rapid transformation due to the burgeoning oil and gas industry and joint ventures, partnerships, exclusive arrangements, and franchising agreements are becoming common business practices.  The creation of special project vehicles is also becoming a popular arrangement for firms entering Guyana’s market.  Guyana is a member of the CARICOM and an associate member of Mercosur.

Local business support organizations such as the American Chamber of Commerce can be useful with building relationships and providing connections to other business owners already operating in Guyana.  U.S. companies are encouraged to attend trade missions and webinars which provide context and lays the foundation for the development of local connections.  If bidding on government tenders, companies are encouraged to remain in close touch with all local partners on the ground and follow the tender directions closely.