GuyExpo 2023 showcases Guyana’s economic transformation, glimpse of future – PM

Prime Minister Mark Phillips and other officials during GuyExpo launch

Prime Minister Mark Phillips, in his capacity as acting President, has expressed his firm belief that the return of GuyExpo after a seven-year hiatus demonstrates Guyana’s incredible economic transformation as well as its bright future, and this is due to Government’s strategic diversification of the economy.

Addressing the opening ceremony of GuyExpo, at the Sophia Exhibition Complex in Georgetown on Thursday evening, the acting President said the exhibition is also a celebration of the transformative changes that are sweeping the country and reshaping Guyana’s economy, which is transforming into greater services. This, he highlighted, is a sure sign of an economy that is maturing and modernising.

“After tonight’s GuyExpo has been declared open, you will all have the opportunity to visit the various booths and exhibits,(and) you will see the evidence of an economy that has undergone a metamorphosis. Guyana’s economic trajectory isn’t just marked by rapid growth; it is characterised by a transformation, a paradigm shift is occurring within our economic structure, evident in the emergence of sectors that were not traditionally the mainstays of our economy,” the Prime Minister underscored.

Phillips has said the event mirrors the changing features of the country’s economic landscape, and serves as a reflection of the forward-thinking spirit which is propelling Guyana into an exciting future.

“GuyExpo is not just a reflection of where we are, but a glimpse into where we are headed. Our economic trajectory is not merely about growth, but also it is about qualitative transformation,” the Prime Minister stated.

He further explained that the robustness of the country’s financial sector, heightened investments in tourism and hospitality, and the growth of transportation, construction and logistics are reshaping the nation’s future. Additionally, information and communications technology (ICT) is being expanded, as the Government has identified the sector as a new growth pole in the economy.

“It is catalyzing innovation, efficiency and connectivity. ICT has become a driver of productivity, streamlining business and fostering entrepreneurship. It is opening avenues for e-commerce and digital services, and has the potential to narrow geographical barriers,” he noted.

Alluding to this year’s theme for the exhibition: “Transforming Guyana Through, Investment, Innovation and Resilience”, PM Phillips said it resonates with the path of transformation envisioned for the country by the PPP/C Administration.

According to Phillips, GuyExpo 2023 heralds a new wave of economic opportunities for the country’s private sector as Guyana undertakes a promising economic transformation owing to the booming oil and gas sector.

Even as the country’s economic growth is attributed to the oil and gas industry, the retired brigadier clarified, Government is investing heavily in diversifying the economy to prevent the occurrence of the Dutch disease, which is why economic growth is expanding.

The acting President also congratulated the Minister of Tourism, Industry and Commerce, Oneidge Walrond, and her team for organising the return of the much-anticipated exposition.

GuyExpo, a partnership among the Ministry of Tourism, Industry and Commerce, GO-INVEST and the Private Sector, allows businesses to increase their competitiveness and efficiency and foster growth.

It is Guyana’s largest trade and investment exposition, having begun in 1995 and being held annually between 2004-2016, before it was discontinued by the APNU/AFC during its stint in Government.

Among those present were the Minister of Tourism, Industry and Commerce, Oneidge Walrond; Minister of Agriculture, Zulfikar Mustapha; Minister within the Ministry of Housing and Water, Susan Rodrigues; Minister of Public Service, Sonia Parag; Commissioner of Police (Ag) Clifton Hicken; Chief Fire Officer (Ag) Gregory Wickham, and members of the diplomatic corps among other notable officials.