With Guyana moving to first oil come 2020, greater emphasis needs to be placed on the development of infrastructural mechanisms, says President of the Georgetown Chamber of Commerce and Industry (GCCI), Deodat Indar.

The businessman was at the time delivering remarks at yesterday’s launching of the GCCI’s 9th edition of the Business Guyana Magazine. It was held at the Le Meridian Pegasus Hotel in Kingston, Georgetown. The publication has been titled, “Guyana on the Rise”. Using the title as his basis, Indar delved into some of the areas that he deemed as “promising”.

Indar said that the developments being made in the construction sector are “positive.” Indar noted however that there exists a need for more infrastructural enhancements.

 “Infrastructure throughout Guyana will have to be enhanced and in some cases, transformed to be able to address the needs of the upcoming oil boom.  All ports and wharves would have to be further developed and certified.”

The GCCI President added that Guyana’s real estate in certain areas is poised to experience price inflation due to more demand. He said that statistics provided by the Chamber show a 5.1 percent increase in construction performance in 2017. That year recorded 11.4 percent, compared to 6.3 percent for 2016.

Indar said, too, that 2017’s growth rate is however dwarfed by a whopping 22.6 percent. Indar also recognized the need for the enhancement of human development. He assured that the GCCI is playing its part.

Private sector bodies are partnering with overseas firms to develop local capacity to create an economy with a skilled workforce to address the needs of the future industries. Standards such as HACCP, ISO 9001 and Health, Safety and Environmental (HSE) are being implemented in companies in the private sector to bring them to a level that is expected of international firms which are now operating here.”

Indar said that proceeds from the sale of the magazines will go towards the construction of the GCCI’s Secretariat.


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