Nicole Theriot, the United States Ambassador to Guyana, shared her words on the immense potential of the nation to attract further investments from the US. The Ambassador highlighted the growing opportunities and investment appeal in Guyana during her speech at the Inaugural International Business Conference on 15 October.
Ambassador Nicole Theriot mentioned Guyana becoming a prime destination for international investors while addressing the gathering. She shared the data of last year when over three thousand small and medium enterprises in the US exported to the nation.
The government of Guyana took significant steps to develop several sectors for economic growth. Along with the lucrative oil and gas industry, the hospitality, security, and tourism sectors were also given similar attention, which led to the creation of vast opportunities.
To make the nation a favourable place for investment, the government made constant efforts to also develop key sectors like education, healthcare, and gas-to-energy infrastructures. The Ambassador recognised the significant approach taken by the government of Guyana for economic growth.
Nicole Theriot said in her words on US investments, “It is not just the large Fortune 500 companies of US that are making an impact. Small and medium enterprises trading between the nations is arguably the more important for diverse and long-term economic growth.”
The data of the last four years were also taken under focus, which displays that foreign direct investment in Guyana is shared nearly ninety-six percent by US investments. The nation has seen US foreign investments of approximately fourteen and a half billion US dollars in the previous four years.
In her words at the International Business Conference, Ambassador Nicole Theriot mentioned that Guyana has the potential to become a leading exporter from the region of the Caribbean. She said, “As Guyanese companies diversify and hone their offerings, I know many more of them will begin to export to the United States.”
Nicole Theriot also mentioned in her words that in the first half of 2024, the nation of Guyana recorded an increase in exports, which growth is calculated to be more than four million US dollars. The positive trends show that the growth rate will see further elevation till the end of the year.
The government of Guyana also signed a contract of sixteen million US dollars to support the nation’s air core. Under this contract, Guyana will acquire two advanced rotary wing aircrafts along with a flight instructor deployed by the United States to share the expertise.
