U.S. Continues Efforts to Lift Guyana Catfish Ban After Seven Years 

Efforts to lift the U.S. ban on catfish imports from Guyana, in place since 2017, are nearing completion, as stated by U.S. Ambassador Nicole Theriot. The ban, imposed due to health and safety concerns under U.S. Department of Agriculture standards, has been a significant economic blow to Guyana, where catfish is a major export particularly valued by the Guyanese diaspora. The People’s Progressive Party/Civic government has been actively working with the U.S. since 2020 to overturn the ban, with extensive documentation and regulatory compliance to meet U.S. standards. Ambassador Theriot indicated progress but could not provide a definitive timeline for resolution.

Government Boosts Youth Empowerment and Skills Training in Region 2 

The Guyanese government, led by Senior Minister Dr. Ashni Singh and Minister of Tourism, Industry, and Commerce Oneidge Walrond, has intensified efforts in Region Two to bolster youth empowerment through expanded educational and training opportunities. This initiative, which aligns with the government's commitment to stimulate economic growth through human capital development, offers various programs and scholarships in fields essential for the country’s emerging economic landscape. The ministers encouraged local youths to engage with these opportunities and contribute to national development, emphasizing the administration's strategy to harness the potential of its young population in driving forward national progress.

Business Opportunities Based On Today’s Developments

Small Enterprises

1. Agro-Based Ventures in Region One:

   • Opportunity: With the government's initiative to use Region One as a source for wholesale produce, small enterprises could establish agri-based operations focusing on producing high-demand crops like cassava, eddoes, and sweet potatoes.

   • Notes: These enterprises would benefit from logistical support from the government in getting their products to market, as mentioned by President Dr. Irfan Ali.

2. Specialized Training Services:

   • Opportunity: With GPL upskilling its workforce, small training firms can offer specialized courses in fiber optics and other technical skills needed by large utilities and telecommunications companies.

   • Thoughts: Collaboration with institutions like BIT could provide accreditation and wider reach.

Medium Enterprises

1. Fiber Optic Installation and Maintenance:

   • Opportunity: Medium-sized tech enterprises could capitalize on GPL's internal development by providing outsourced maintenance and emergency response services for fiber optic infrastructure.

   • Notes: Enterprises need to maintain high standards and quick response times to be competitive.

2. Sustainable Agricultural Initiatives:

   • Opportunity: Launching medium-scale operations that focus on sustainable and eco-friendly agricultural practices, especially in light of Guyana’s initiative to diversify agricultural production sources.

   • Thoughts: These enterprises could become suppliers not just locally but potentially for export within the CARICOM region, aligning with government visions for reduced food import bills.

Large Enterprises

1. Banking and Financial Compliance Services:

   • Opportunity: In response to the sanctions against Mohamed’s Enterprises, there is a clear need for robust compliance and risk management services within banks and large financial institutions.

   • Notes: These services would ensure that financial institutions remain compliant with international standards, thus avoiding potential legal and financial repercussions.

2. Export and Trade Consultancies:

   • Opportunity: Establishing consultancies that assist local businesses in navigating export regulations, especially in the wake of changing trade dynamics and enhanced focus on international compliance.

   • Thoughts: Such consultancies could also aid businesses in tapping into new markets, leveraging Guyana's growing sectors like agriculture and energy.

Cross-Sector Opportunities

• Digital Transformation Services: As companies and government entities like GPL embrace modern technologies, there is a significant opportunity for IT firms to offer digital transformation consulting and implementation services.

• Supply Chain and Logistics Solutions: With the strategic shift to utilize Region One for agriculture produce and the ongoing infrastructure developments, there is an opportunity for logistic companies to optimize supply chain operations for businesses transitioning to new markets or scaling operations.

• Tourism Development Projects: With the government’s focus on developing various regions as tourism hubs, there is room for large-scale investment in infrastructure, eco-tourism, and cultural tourism projects.

Additional Thoughts

• Businesses at all levels should remain adaptable and responsive to government initiatives and regulatory changes.

• Networking and strategic partnerships with government and regional bodies will be crucial for tapping into subsidized programs or initiatives.

• Sustainability and compliance should be integral to business models to align with both local and international standards.

These opportunities, if leveraged effectively, can contribute significantly to the economic landscape of Guyana, creating jobs, fostering innovation, and driving sustainable growth across various sectors.

Side Hustle Ideas Based On Today’s Developments

1. Mobile Fiber Optic Repair and Technical Services

• Opportunity: With the recent upskilling of GPL employees and the move towards a smarter grid, there is a burgeoning demand for technical services specializing in fiber optics.

• Concept: Individuals can offer on-call repair, maintenance, and installation services for fiber optic technology, catering not just to large corporations like GPL but also to small businesses and residential customers who are increasingly relying on high-speed internet connections.

• Execution: This side hustle would require some technical training, which could be acquired through short courses offered by institutions like the Board of Industrial Training (BIT). The initial investment might include basic fiber optic tools and a vehicle for mobility.

2. Specialized Agro-Product Supply Chain Coordination

• Opportunity: With the government's initiative to utilize Region One's agricultural potential and the emphasis on reducing the food import bill, there is a significant opportunity in streamlining the supply chain from farm to market.

• Concept: Develop a coordination service that helps farmers in remote areas like Region One connect with urban markets and retailers, ensuring a steady supply of farm produce such as cassava, eddoes, and sweet potatoes to city markets.

• Execution: This would involve setting up a network of contacts with farmers, understanding logistics and transportation routes, and potentially creating an online platform for orders. This hustle would require knowledge of agricultural products and basic logistics management.

3. Eco-Tourism Experience Curator

• Opportunity: As Guyana continues to develop its tourism sector, there is room for creating unique, eco-friendly tourism experiences that highlight the natural beauty and cultural heritage of the region.

• Concept: Individuals can start a side business that designs, markets, and leads eco-tours or cultural tourism experiences. These could range from day trips highlighting local wildlife and landscapes to cultural immersion experiences that showcase indigenous heritage and local crafts.

• Execution: This side hustle would require creating partnerships with local communities, developing marketing materials, and leveraging social media platforms to attract both locals and international tourists. A certification in tour guiding and a strong online presence would enhance credibility and reach.

Additional Notes:

• Scalability: Each of these side hustles has the potential to start small but can scale up as demand increases and as the entrepreneur becomes more established in the market.

• Sustainability Focus: Given the global emphasis on sustainability, each side hustle incorporates an element of eco-friendliness or supports local development, aligning with both consumer trends and government priorities.

• Networking and Partnerships: Success in these side hustles would heavily depend on effective networking and the ability to forge strategic partnerships across various sectors.

These side hustles are designed to be accessible yet lucrative, tapping into emerging sectors and aligning with Guyana's developmental goals. They offer a sustainable way to earn additional income while contributing positively to the country’s economic and social fabric.