Government and private-sector officials on Friday called for stronger investment in tourism, agro-processing and cross-border trade, arguing that Guyana's economy needs to diversify beyond its extractive industries while ensuring more value is retained within the country.

Speaking at a Private Sector Commission corporate mixer on Friday, Tourism, Industry and Commerce Minister Susan Rodrigues urged businesses to take greater risks in tourism, saying the sector could sustain the economy long after oil, gold and other extractive resources decline or become depleted.

"Take some risks and invest in tourism seriously. I would like to see tourism thrive," Rodrigues said, describing the sector as regenerative and pointing to Guyana's hospitality, culture, gastronomy and identity as the "land of six people" as key strengths.

She said the country's expanding economy is opening up new investment opportunities across tourism, manufacturing, agro-processing and commerce, and encouraged businesses to look beyond traditional sectors.

"We want the investment to stay here. We want the money to stay here in the country," Rodrigues said, adding that government is prepared to help investors access available concessions and navigate emerging industries.

She also called for greater investment in value-added production, saying government is emphasising a shift from raw output to finished goods. She pointed to oil processing and President Irfaan Ali's discussions on a local refinery as examples of efforts to retain more value domestically.

Rodrigues highlighted the role of small and medium-sized enterprises, noting that government initiatives, including the establishment of the Guyana Development Bank, are intended to support businesses across the value chain.

Brazil Corridor

Echoing calls for businesses to seize new opportunities, Chief Investment Officer Peter Ramsaroop said Guyanese businesses must prepare for a new phase of economic growth as activity along the Brazil-Guyana corridor increases.

He said Guyana has become a major buyer, creating opportunities for local businesses to provide services and supplies across several sectors, including transportation, aviation and agro-processing.

"We have to be ready for that next phase," Ramsaroop said, adding that rising cross-border activity, including increased truck movement into Guyana, would generate demand local businesses should be positioned to meet.

He also urged greater investment in agro-processing and local production to strengthen food security and position Guyana as an exporter.

"Let's get ready," he said.

Democracy, Representation

Turning from economic opportunity to institutional strength, President of the Guyana Oil and Gas Chamber Maniram Prashad said business cannot function without democracy, crediting the US Embassy with playing a role in Guyana's return to democratic governance. He said the Private Sector Commission had also played a significant role in restoring democracy and welcomed the presence of US Embassy representatives at the event.

"I'm very happy that we had the US Embassy... because business cannot function without democracy," Prashad said.

He called for greater involvement of corporate members in the commission and on public boards, noting that its 84 corporate members have significantly less representation than its 21 sectoral members despite paying higher fees and financing much of its operations. He urged amendments to the commission's constitution and greater participation from businesses to strengthen the organisation and raise private-sector concerns with government

Tourism, Industry and Commerce Minister Susan Rodrigues