Singh Outlines Government’s Economic Diversification and Investment Priorities at Energy Conference

In a keynote address at the Guyana Energy Conference and Supply Chain Expo 2025 held at the Guyana Marriott Hotel, Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni Singh, played up government’s reported commitment to diversifying Guyana’s economy and attracting investment.

Speaking to a crowd of local and international investors, Singh highlighted the country’s vast investment opportunities and the government’s ongoing efforts to build a resilient, globally competitive economic base.

The minister emphasised that Guyana is a prime destination for investment, not just for its rich business prospects but also for its strong record of responsible governance. “Guyana is a good place to invest,” he said, reinforcing the government’s track record of sound economic management.

He reassured investors that the government’s stability and commitment to responsible economic governance ensure that the country remains an attractive investment hub.

He said the Government has reduced the country’s debt-to-GDP ratio from a 600 percent in 1991 to 38 percent by 2014. The minster said under the current administration, the ratio has been further reduced to 24 percent in 2024, positioning Guyana as having the second-lowest debt-to-GDP ratio in the Western Hemisphere, which is a claim that requires further verification.

“We are not waiting for the twilight hours of our oil economy, whenever that happens,” Dr. Singh declared. “We are doing that today.” He elaborated on the government’s efforts to strengthen the country’s non-oil sectors, emphasizing the impressive 10.3 percent average growth of the non-oil economy between 2021 and 2024. Key sectors, including services, agriculture, construction, housing, mining, and fisheries, have demonstrated significant growth, diversifying the economy and reducing dependency on the oil sector.

Dr. Singh also highlighted the steps taken by the government to ensure that the benefits from Guyana’s burgeoning oil industry are effectively managed. A landmark achievement came in 2019, when the government for the first time transferred oil revenues into the country’s consolidated fund, following the passage of the Natural Resource Fund (NRF) Act. 

Singh emphasised the importance of striking a balance between addressing the immediate needs of the population, investing in long-term infrastructure, and expanding social programs. This approach has contributed to Guyana’s status as one of the fastest-growing economies in the world.

The Guyana Energy Conference and Supply Chain Expo 2025, which opened on February 18 under the theme “Connecting the dots: Integrating the future,” is set to conclude on Friday, February 23. The conference serves as a platform for exploring new opportunities in energy, infrastructure, and investment, with a focus on the integration of future growth strategies for the nation’s energy and industrial sectors.