Guyana: Doing business & staying in touch
Doing Business in Guyana
Appointments should be made prior to meetings and punctuality is appreciated. Business cards are useful. The pace of business and general attitudes are very Caribbean-orientated, so slow paced and relaxed. Suits are not a requirement, but gifts are much appreciated.
It is, however, wise to bear in mind that the country is very much part of South America, the ties with the Caribbean being more a hangover from British colonial days than a reflection of Guyanese popular consciousness.
Mon-Fri 0800-1200 and 1300-1630.
Agriculture allows Guyana to be self-sufficient in sugar, rice, vegetables, fruit, meat and poultry. It is also a major exporter of sugar and rice. Although 80% of the land area is covered by forest, timber has only very recently assumed any economic significance (subject to internationally supported restrictions on logging)
Bauxite mining is the main industry, and responsible for one-third of export earnings. The mining sector also produces gold and diamonds, almost all of which are exported. Gold production has increased sharply since the opening of a new mining complex in 1992. Imported oil meets most of the country’s energy requirements, although Guyana and Suriname have begun joint exploration projects
Since 1997, many formerly state-owned assets and industries have been sold, and deregulation measures introduced, as part of that programme. A major obstacle to Guyana’s future economic progress is a shortage of trained personnel, especially in the fields of management and technical expertise; the emigration rate remains high, and only serves to compound this long-term problem.
Guyana has a particularly high GDP in relation to other Central-South American countries, with a figure in 2012 of 3,583 USD per capita. Guyana is a founding member of the regional trading bloc CARICOM.
US$2.85 billion (2012).
Sugar, gold, bauxite/aluminium, rum and timber.
Manufactured goods, machinery, petroleum, clothing and food.
Main trading partners
Belgium, Canada, Cuba, UK and USA.
Keeping in Touch in Guyana
Network providers include Cel Star Guyana Inc and Guyana Telephone and Telegraph Company (GT&T) (website: www.gtt.co.gy). Mobile phones can be hired from GT&T.
Internet cafes are available in Georgetown.