(MENAFN- Caribbean News Global) GEORGETOWN, Guyana, (DPI) – Businesses can expect more support in the coming years, starting with a menu of attractive fiscal measures aimed at driving the expansion of key industries, including agro-processing, tourism, and industrialisation. It is all part and parcel of Guyana's economic diversification strategy, which president Dr Mohamed Irfaan Ali said will be refined in the 2026 national budget and will be“second to none” globally.

Speaking at the opening of GuyExpo 2025 on Thursday evening, the president said the measures“ will be the most generous, progressive, dynamic set of policies...that we are going to pursue.”

Thousands attended the opening ceremony of GuyExpo, the country's annual trade and investment event, which is open to the public and is taking place at the National Exhibition Centre, Sophia, Georgetown.

The incentives are expected to attract both local and international investors, creating new opportunities for employment, investment, and business development for thousands of Small and Medium-Sized Enterprises (SMEs).

Following a review of successful policies in India, Brazil, Morocco, China, and the United States, the president said Guyana has developed a strategy to become the largest agro-processing economy in Latin America and the Caribbean.

“We will replicate the mega food parks across different regions with different focus areas. We will introduce the most progressive tax breaks on loans, financing, and taxation for investors in agriculture and agro-processing,” he said.

To build resilience in the agricultural sector, farmers, beginning with rice producers, will receive support to convert at least two of every ten acres into higher-value ventures such as livestock, swine, small ruminants, aquaculture, and cage fishing.

According to the president, the government is also working with IICA and the FAO...” to launch the farmers' application, farming in the palm, with extension, scientific, and technical services available 24/7 in real time on their devices. Those are the changes that we are going to pursue.”

This will be backed by new investments in research and development, along with a Food Innovation Fund targeting young people.

The president also committed to expanding the manufacturing sector through new manufacturing hubs supported by special incentive regimes in the upcoming budget.

The gas-to-energy project in Wales, Region Three, is central to this plan. President Ali said it will open opportunities for Guyanese in fertiliser and gas bottling plants, logistics facilities, two power plants, a data centre, a potential glass factory, and an industrial estate.

“ The expressions of interest are already out. We will have guaranteed returns on these investments that no other can match,” president Ali said, noting that the aim is for these projects to be owned by Guyanese, including those in the diaspora, and regional partners.

To take advantage of these developments, President Ali urged small and medium-sized businesses to register through a graduated taxation system. The government, he said, will work to reduce compliance fears and help producers improve standards, become export-ready, and access regional and international markets.

To improve tourism, president Ali announced plans to enhance the transportation system, including upgrades to nine key airstrips, the construction of new municipal airports at Rose Hall and Lethem, and the completion of Terminal 2 at Cheddi Jagan International Airport.

The government has identified special tourism investment zones at Mashabo, Stabroek waterfront, Vreed-en-Hoop waterfront, Barticia, Orinduik Sakaika, and Leguan. To boost development, it will offer incentives to investors.

“The next five years will require immense heavy lifting. Every single one of us, from the entrepreneur in the industrial park to the farmer in the field, from the coder in the tech hub, must play a part,” president Ali said.

All these projects are part of the government's plan to diversify the economy, which the president refers to as“shock-proofing” for Guyana's next phase of growth. The government has a clear strategy to transform the economy based on six key areas: digitalisation, industrialisation, food security, energy security, climate and biodiversity services, and tourism.

GuyExpo 2025's theme,“Transformation through Entrepreneurship and Innovation”, captures where Guyana is today, a country investing in new industries. The features 230 exhibitors across 300 booths.

Also attending the opening ceremony were the prime minister Ret'd Mark Phillips, minister of tourism, industry and commerce, Susan Rodrigues, other ministers of the government, members of the diplomatic community, and citizens alike.

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