Guyana's services sector is a vibrant and rapidly expanding part of the national economy, contributing significantly to GDP. The sector grew by 10% in 2023, with a further 7.7% expansion projected for 2024. It encompasses diverse industries such as finance, tourism, retail, telecommunications, and services supporting the oil and gas sector. The financial services industry is underpinned by a sound banking system and investment opportunities, especially in emerging markets. The retail sector is dynamic, offering both traditional markets and modern shopping centers, while telecommunications is advancing, fostering innovation and improving global market access. This growth not only enhances the quality of life for Guyanese citizens but also positions the country as a hub for international investment and business partnerships.
Investment Opportunities and Incentives
Guyana’s services sector presents a wide range of investment opportunities:
- Construction: Investment in hotels, factories, warehouses, and recreational facilities.
- Consultancy: Professional services across sectors like finance, law, and engineering.
- Finance: Banking, insurance, and digital payment services, supported by a stable financial system.
- Telecommunications: Opportunities in expanding digital connectivity and supporting global market access.
- Education and Medical: Investment in schools, universities, hospitals, and clinics.
- Entertainment: Music, film, fashion, and recreational facilities.
- Transport and Logistics: Bus, ferry, trucking, and air/sea port services.
- Environmental Services: Waste management and recycling operations.
Incentives for investors include duty and VAT exemptions in specific subsectors such as medical equipment, education, recycling, and shore base facilities. Additionally, there are waivers on taxes for machinery and equipment, making it attractive for businesses looking to enter the market.
https://issuu.com/amsguyana/docs/explore_guyana_2024_digital_magazine
