President Irfaan Ali on Friday evening unveiled plans for a sweeping five-year national economic expansion and infrastructure integration program, promising what he described as an “unmatched” level of development and investment across Guyana.
Addressing industry leaders and policymakers at the Guyana Oil and Gas Energy Chamber’s Annual Awards Presentation Dinner at the Marriott Hotel in Georgetown, Ali outlined major projects in Wales and Berbice, projected to generate nearly US$10 billion in new infrastructure and energy-linked investment.
At Wales, over US$4 billion will be invested in a gas-to-energy project, power plants, fabrication facilities, industrial zones, marine infrastructure, and logistics. In Berbice, a second gas project, deep-water port, industrial expansion, and a gas pipeline totaling more than US$2 billion will anchor further national development.
“This is remarkable,” President Ali told the gathering. “If this does not excite us as a people, I don’t know what will.”
The President also highlighted the country’s rapidly growing oil production, which is expected to reach approximately 930,000 barrels per day by the end of 2025, with a conservative projection of 1.3 million barrels per day by 2030. He cautioned, however, that global oversupply and market risks make disciplined, careful planning essential.
Ali emphasised the importance of human capital, urging workers to embrace upskilling and higher productivity to match the pace of national transformation. “The greatest complaint in the private sector today is a shortage of human capital,” he said.
While the speech painted a picture of economic promise, analysts note that the President is widely known for grand campaign promises that remain unfulfilled, including his pledge to distribute G$200,000 (US$1000) in cash grants to every adult by Christmas — a promise many now regard as unlikely to be delivered.
Since the start of oil production in late 2019, Guyana has amassed roughly US $6.2 billion in total oil revenues, including profit oil and royalties, deposited into the Natural Resource Fund. In 2022, revenues reached about US $1.1 billion, rising to US $2.6 billion in 2024. By mid‑2025, the government had already collected over US $800 million, reflecting the rapid growth of the country’s oil wealth in just six years.
“We cannot afford to be swept away by the tide of optimism,” Ali cautioned. “Our future is glorious, but we must temper expectations.” Despite the caution, the President reaffirmed his commitment to converting oil wealth into productive assets, including roads, ports, energy infrastructure, human capital development, and diversified industries.
“The economy is in safe hands, your hands, our hands, the nation’s hands,” he affirmed, leaving observers to weigh the ambitious plans against the track record of unmet pledges.
