Guyana is culturally open to U.S. products and services, which enjoy favorable brand recognition and often can command a premium price in the local economy. U.S. firms dominate the energy sector and others have made inroads in the agriculture, healthcare, and infrastructure sectors. Attracting Foreign Direct Investment is a key priority for the GoG. Key market opportunities in Guyana include the following:
Oil and Gas Production and Exploration: Guyana’s burgeoning oil production has both transformed and strained the construction and supporting services sectors. The U.S. Geological Survey estimates that the Guyanese coastal area holds approximately 13.6 billion barrels of recoverable oil reserves and 32 trillion cubic feet of gas reserves. As of 2024, there have been 52 oil discoveries across all explored blocks, with 46 in the Stabroek block alone. ExxonMobil made four additional discoveries of oil in 2024 with exploration thus far accumulating more than 30 significant discoveries. ExxonMobil confirmed in April 2022 that the gross recoverable resource estimate for Guyana’s offshore Stabroek Block is estimated to be nearly 11 billion oil equivalent barrels of total recoverable resources.
Public Private Partnerships: The GoG is pursuing public private partnerships (PPP) to expedite the development of major projects in the energy, infrastructure, and agriculture sectors to achieve its goal of energy, climate and food security. The GoG is interested in a PPP for a 165-megawatt Amalia Falls hydropower dam as well as an oil refinery. Both the development of the dam and refinery have experienced significant delays due to difficulties in obtaining financing and concerns about feasibility. U.S. stakeholders lament that the country has no country credit rating its underdeveloped capital market hinders access to local financing.
The government has demonstrated a propensity to structure national interest infrastructure projects for engineering, procurement and consultancy (EPC) and use a design-build, own, operate and transfer (BOOT) model. For example, an EPC model was used for its largest project to date – a 300-megawatt gas to energy project. The BOOT model was advertised for a second gas to energy project of similar capacity adjacent to existing location to take advantage of a 12-inch pipeline (220 km offshore and 27 km onshore) with the capacity to transport approximately 120 million standard cubic feet of gas per day.
Renewable Energy: Despite Guyana’s hydrocarbon exploration and production activities, the country is a net carbon sink due its vast preserved rainforests. The GoG’s plan to move away from its current inefficient electric power generation system, which is based on imports of heavy fuel oil, is a key part of its Low Carbon Development Strategy (LCDS). Efforts continue in the diversification of its energy matrix by operationalizing small hydropower plants as well as development of greater in-country operational and maintenance capacity. Companies with energy smart grid and predictive maintenance technology may have a competitive advantage.
The GoG has created special tax incentives for companies that utilize renewable energy options including gasifiers, wind, solar, and hydropower. Moreover, the GoG reformed the income tax law in 2018 to allow firms to write off capital expenses within two years and waive import duties and value added taxes (VAT) on the importation of new renewable energy equipment and electric motor vehicles. Non-U.S. manufacturers of electric vehicles have opened dealerships in Guyana to take advantage of the waiver of import duties. A part of the LCDS strategy is to economically provide residents in remote communities with approximately 1 megawatt per hour per person for a year with completely off-grid solutions.
The Government is piloting several renewable energy projects using wind, solar and hydropower. Renewable energy projects provide an attractive low-carbon energy diversification investment opportunity to address Guyana’s unstable supply and high electricity costs while providing off-grid power solutions for the non-coastal regions of Guyana. Guyana has not yet passed grid tie-in legislation, although, in certain circumstances, residents and firms can use a net-billing mechanism which allows for the sale of excess renewables capacity that is fed into the public grid after they submit an interconnecting application to the Guyana Power & Light (GPL) agency.
It is important to note that GPL is the sole license holder to produce power with the intent to sell to third parties. While limited exceptions have been made for areas where GPL has limitations in supplying power, independent renewable power producers need to obtain approval from GPL, the Public Utilities Commission and the Prime Minister of Guyana. With Guyana’s indigenous communities and unavailable or unreliable power in the farming communities, opportunities also exist for renewable energy products such as cold storage containers, solar compact bins, and solar water pumps.
Agriculture: In an effort to diversify the economy, the GoG aspires to develop its agricultural sector and become the breadbasket of the Caribbean. An ambitious CARICOM plan to reduce the region’s food imports by 25 percent by 2025 (the finish line has recently been pushed back to 2030) is largely dependent on Guyana being able to increase its agricultural production. While Guyana has a favorable climate, the often-sandy soils are less helpful and, in many cases, the requirement for agricultural inputs such as fertilizer significantly increases the cost of production. Soil issues aside, Guyana’s vast and sparsely populated landscape and abundant water supply offer the potential to rapidly expand the agricultural sector.
Agriculture is a significant driver of Guyana’s economy, accounting for an estimated 8 percent of GDP (23,2 percent of non-oil GDP) in 2024. Tax concessions are available for investors in the agricultural sector through the Guyana Office for Investment. While rice is the major agricultural export, prospects exist for aquaculture and the production of other staple fruit and vegetable crops. The GoG wants to expand value-added food processing, which creates export opportunities for U.S. certification services and food processing equipment. There are also opportunities to engage with the state-owned Guyana Sugar Corporation (GUYSUCO) as the government seeks to revitalize the sugar industry and pivot into related agricultural business, including the production of rum.
Healthcare: The Government of Guyana has ramped up healthcare investment, with projects to construct 12 new regional hospitals, a new maternal and paternal specialty hospital, and expansion of a national telehealth initiative to improve access in remote communities. Guyana’s hospitals have 24-hour accident and emergency services, 24-hour labs, and diagnostic imaging services including ultrasound, digital X-Rays, and CT scanners.
A significant portion of this diagnostic medical equipment has been sourced from Asia, but U.S. suppliers are welcome as well. In 2026, the GoG’s healthcare budget was U.S. $773 million, with a significant allocation to infrastructure development, technology deployment, and improved service delivery. Efforts focus on decentralizing care, strengthening primary and tertiary services, particularly in oncology and cardiac care, and addressing persistent shortages of medical personnel. The GoG is building an Emergency Medical Service system and procuring additional ambulances with the goal of improving response times to medical emergencies such as traffic accidents and natural disasters.
The GoG is encouraging the use of innovative technologies to bridge healthcare gaps and improve service delivery in remote areas, including satellite links for telemedicine and delivery of medical supplies by drone. Non-communicable and ecological diseases remain key priorities. Additionally, the government plans to revise its laws for the pharmaceutical sector with the goals of encouraging investment, establishing local manufacturing and packaging, and reducing dependence on external sources of essential medicines by bolstering the regional supply chain. U.S. firms continue to engage through medical equipment supply, professional services and training, telemedicine, and public-private partnerships.
Information and Communication Technology (ICT): In 2023, the GoG passed legislation for data protection creating the opportunity for Guyana to offer storage of data onshore. Guyana has three major telecommunication companies providing high-speed internet, including one that provided 5G VoLTE mobile telephone services. The GoG has embarked on programs to enhance capacity in the ICT sector by training over 3,000 people to provide a labor pool to service the Business Process Outsourcing (BPO) subsector. Key opportunities exist for data centers, artificial intelligence, automation solutions for smart cities, traffic control, defense supplemented solutions, telemarketing centers, and medical records transcription. Tax concessions are available to investors and various BPO centers have recently opened in Guyana. Guyana’s unique geographical position at the Northern tip of South America and its English-speaking population make it an attractive destination for outsourcing back-office services. Guyana’s labor force is well educated with a high 90 percent adult literacy rate.
Some in the Government of Guyana hope to encourage greater use of artificial intelligence (AI) tools and systems as a way to increase productivity across the economy, including in agriculture, healthcare, education, energy, and climate resilience. The Government of Guyana encourages collaboration with “well-known” firms, emphasizing equity, inclusion, and public good in digital rollouts. U.S. technology leaders in AI, e-health, e-learning, smart grids, and climate modeling potentially have a strong value proposition to offer in support of Guyana’s digital strategy.