Growth cannot happen without diversification of the economy to ensure strength across all sectors.
While revenues from oil are beneficial to the public accounts, they cannot remain there. We must use growth in one sector to fix infrastructure problems holding back others such as rice farming and light manufacturing.
Change Guyana’s proposals to revive and diversify the economy include:
- Establishing a Public Procurement Framework that promotes fiscal discipline and removes corruption
- Reviewing the Production Sharing Agreement with the intent of securing a better fiscal package for all Guyanese
- Implementing a value for money framework for all statutory bodies
- Implementing a food security program
- Develop new foreign exchange earning sectors: Artificial Intelligence Sector, Low Carbon Development Initiatives
- Entrepreneurship Mentoring Program
- Establish a Local Content Program by Sector
- Improve national connectivity by expanding road networks e.g. the Lethem-Linden Road
- Develop a viable “eco-tourism Guyana” brand
- Establish a Smart Money Cross Border Platform
- Develop an “Air Bed and Breakfast” program
- Implement Regional Development Plans funded in part by revenues earn from the region’s resources (listed below)
- Co-Generation of Electricity for each Region
Regional Development Plans
- Region 2 – Essequibo Coast and Islands – A Special Economic Zone based on processing of agricultural production. Includes Coconut, Cassava and other ground provisions and rice cereals. A solar farm to generate 5MW of electricity. Improvement of the wharf and port facility
- Region 3 – West Coast Demerara – Build a fixed bridge across the Demerara River within three years.
- Lands of closed Wales Sugar estate to be allotted to displaced sugar workers for agricultural development.
- Improvements in farm roads and drainage and irrigation infrastructure in rice growing areas.
- Region 4 – Demerara/Mahaica – Revitalization will include: creating green public spaces and installing solar public lighting; introduction of household grey water systems; public parking; a boardwalk for public use; rehabilitation of Georgetown’s roadways, waterways, and sea defenses; beautifying the Sea Wall area; drone surveillance to supplement community policing in “hotspots”; effective traffic management system; incentive plans for beautification of office and business buildings; partnerships for private organizations to ‘adopt’ communities in Georgetown; and support to the Port Authority to make operations more efficient
- Region 5 – Mahaica – Mahaicony – Reverse the exorbitant increase in land rents to rice farmers. Improvements to the drainage and irrigation infrastructure
- Region 6 – East Berbice – A special economic zone for processing agricultural production. A special levy on Bauxite to fund development in Berbice. Lands of closed sugar estates to sugar workers to encourage agricultural development through the phased diversification initiatives at all sugar estates.
- Region 10 – Upper Demerara/Berbice – Special Economic Zone in Linden for Guyanese Hard Wood; establish a port facility; build value-add for the Bauxite Industry; private sector agriculture investments for the Intermediate Savannahs; revisit the Tiger Falls hydropower project