Guyana - Market ChallengesGuyana - Market Challenges
Infrastructure: Infrastructure in Guyana remains generally inadequate and unevenly maintained. Frequent and unpredictable electrical outages, high electricity costs, no deepwater port, a low percentage of paved roads, relatively high telecommunication costs, and an underdeveloped transportation system complicate commercial operations.
The Regulatory Environment: Potential investors should be aware that government decision-making can be slow, excessively centralized, and opaque. An extraordinary number of issues continue to be decided by the cabinet or the Office of the President, a process that remains largely closed to public scrutiny and often results in long delays. Additionally, an enormous backlog of cases in the judiciary, combined with an inefficient government bureaucracy, contributes to the difficulty of doing business in Guyana.
Tariffs: As a CARICOM member, Guyana strongly advocates enforcement of the Common External Tariff (CET), particularly on rice. Rice is one of Guyana’s main agricultural commodities. The 25 percent tariff on non-CARICOM member states is greatly advantageous to Guyana.
Human Capital: Due to high levels of emigration and low repatriation rates, skilled labor is very difficult to attract and even more difficult to retain. Migration over the last two decades by professional and technical staff has significantly weakened Guyana’s private and public sector. However, upcoming oil production is bringing in new skilled jobs that will help keep skilled workers in Guyana.
Crime: Violent and petty crimes throughout the country and the necessary measures to counteract them add to the cost of doing business in Guyana.
Guyana Trade Development and Promotion