Georgetown Advisory

WHY GUYANA

ABOUT US

SERVICES

RESOURCES

CONTACT

GUYANA

GEORGETOWN ADVISORY, 2024, georgetownadvisory.gy | Registered under the laws of Guyana

Business Development

in GUYANA

Market Entry

Commercial prospecting and market research
Identification of qualified leads
Coordination with potential partners

Local Representation

Registration of local company (with a lawyer)
Long term commercial representation
Assistance with the Local Content Act

Business Intelligence

Market insights: locate, access and analyse critical information
Due diligence
Risk assessment

Why Guyana ?

Following significant oil discoveries off its coast in 2015, the Co-operative Republic of Guyana is today recording one of the strongest economic growth in the world, with a real GDP growth of 33.1% in 2023(1) and projected growth of 34.3% in 2024. Once realised, this will result in an growth average of 38.8% over a five-year period.

By 2027, Guyana's oil production is expected to reach 1.2 million barrels per day, surpassing the daily oil production per capita of countries like Kuwait (0.6) and Qatar (0.5). Some estimates even suggest that Guyana could become the world's fourth-largest offshore oil producer by 2035. For ExxonMobil (XOM.N), the primary operator locally, it has become the most profitable location for oil production globally and a pivotal site for future development.

(1) Figures from the Guyana Ministry of Finance budget 2024.

By 2027, Guyana, with a population of merely 800,000, could be earning $15 billion annually in oil and gas revenues(2), thrice its 2020 real GDP.

All indicators seem to point towards a general betterment of its economy. The concluding statement of the IMF 2023 Article IV Consultations on Guyana(3) underscored few:

The Guyanese economy continues to grow very rapidly, supported by the government’s modernization plans, including the unparalleled oil sector expansion.
The outlook for medium-term growth is better than ever before.
The fiscal and monetary policy mix is appropriate at this time.
The authorities’ commitment to fiscal discipline is welcome and allows for a balanced growth path.

(2) Based on the current PSA and ExxonMobil’s 2027 production (bpd) estimates.

(3) IMF Guyana Staff Concluding Statement pf the 2023 Article IV Mission

The oil boom has had – so far – a positive trickle-down effect on other economic sectors like agriculture and construction, with the non-oil economy growing by 11.7% in 2023 and projected to grow 11.9% in 2024(4). However, achieving "high-income country" status, as recently conferred upon Guyana(5), requires continued efforts.

Guyana is emerging as the most promising market in the region, offering abundant opportunities. Guyana possesses unique dynamics, concepts, and working methods, underscoring the importance of local connections. Georgetown Advisory provides this much needed assistance with local implementation and operations of foreign companies.

(4) Figures from the Guyana Ministry of Finance budget 2024.

(5) The World Bank Group - Country Partnership Framework for the Period FY23-26.

About Us

Prior to founding Georgetown Advisory, and following a two-years posting at the United Nations Development Programme in New York and in Geneva, Pierre Gaté served as the first permanent representative of the French Embassy in Guyana for the French Ministry of Foreign Affairs from 2021 to 2023. His mission consisted in laying the foundation for a future embassy by establishing a network and updating country intelligence. This was done in coordination with the embassy in Paramaribo and French authorities in Cayenne, which involved extensive travel between each of them to ensure effective regional collaboration.

Gaté quickly became the local point of contact for supporting French interests, facilitating the sharing of business intelligence and local connections. His newly established office managed numerous visits from French officials and coordinated France's inaugural trade missions to Guyana.

The newly generated interest for Guyana resulted in the creation of a local French diplomatic office in September 2023 and eventually in the announcement of the creation of a full-fledged French embassy to Guyana for 2025.

Leveraging on such expertise, cross-industry knowledge and well established high level contacts, Georgetown Advisory has since then worked to:

Support the establishment of the European Chamber of Commerce of Guyana, the ECCG.

Orchestrate the first EU Global Gateway trade mission to Guyana (Nov. 20-22, 2023), engaging 23 European companies including EDF, Lazard, Nokia and Siemens.

Draft the EU Global Gateway Investment Agenda for Guyana and Suriname (effective from 2025), establishing the framework for EU cooperation and support to the European private sector in both countries.