Deepwater Port Key to Guyana’s Economic Future

Vice President Dr. Bharrat Jagdeo stressed the urgent need for a deepwater port in Guyana, estimating the venture could cost over $1 billion. Speaking at the GMSA awards, he underscored the port’s importance for positioning Guyana as a regional transshipment hub and supporting export growth. While a new artificial island at the Demerara River mouth offers interim port services, Jagdeo suggested government co-investment may be required to ensure the long-term competitiveness of Guyana's industries. The port is part of a broader vision to integrate Guyana into global trade networks.

GMIN Ventures Opens Bartica Office for Gold Mining Project

GMIN Ventures Guyana has inaugurated its office in Bartica, marking a significant milestone for the upcoming Oko Gold Mines Project. Slated to begin gold production in 2027, the project boasts reserves of 4.3 million ounces and aims to create 1,500 jobs. The company has committed to sustainable practices and community development, including training 200 locals in technical skills. Regional leaders lauded the initiative as transformative for the area’s economy and infrastructure, emphasizing the company’s focus on responsible mining and long-term benefits for Guyanese communities.

Business Opportunities Based On Today’s Developments

Opportunities for Small Enterprises

1. Expansion of Bed and Breakfast Services

   • Opportunity: With the approval of 26 new Bed and Breakfast properties and the government’s push to enhance the tourism sector, small enterprises can invest in expanding or establishing B&B accommodations.

   • Notes: Focus on offering unique, culturally immersive experiences to attract eco-tourists and adventure travelers. Partner with the Guyana Tourism Authority for training and guidance on international hospitality standards.

2. Custom Waste Management Solutions

   • Opportunity: With new waste receptacles installed in Georgetown, small businesses can offer waste management services, such as collection, recycling, or composting, tailored to residential and commercial clients.

   • Notes: Eco-friendly services such as composting organic waste and promoting reusable materials could position businesses as environmentally responsible, appealing to corporate clients and municipalities.

3. Value-Added Coconut Products

   • Opportunity: The challenge faced by "Only Coconuts" to export coconut oil highlights the potential for local small enterprises to produce and package value-added coconut products for export or domestic consumption.

   • Notes: Focus on niche markets, such as organic or cold-pressed coconut oil, which may bypass phytosanitary restrictions and fetch higher prices. Collaboration with the Guyana Manufacturing and Services Association could help advocate for smoother regional trade.

Opportunities for Medium Enterprises

1. Tourism and Cultural Experience Ventures

   • Opportunity: The growing Bed and Breakfast sector and expanding tourism initiatives provide opportunities to develop cultural tours, eco-tourism packages, or small transport services.

   • Notes: Partner with B&B owners to create bundled travel packages that include accommodations, local cuisine, and unique experiences like guided rainforest tours or village immersion trips.

2. Sports Sponsorship and Events Management

   • Opportunity: With the success of partnerships like ANSA McAL and the KFC Goodwill Series, medium-sized enterprises can sponsor sports tournaments, manage events, or provide equipment and logistical support for large-scale community engagements.

   • Notes: Align sponsorship efforts with branding objectives to maximize ROI. Focus on football, cricket, and emerging sports leagues like the ExxonMobil Global Super League.

3. Sustainable Port Services and Logistics

   • Opportunity: The development of port infrastructure offers opportunities for logistics services, warehousing, and support for deepwater port operations in Berbice.

   • Notes: Invest in cold storage facilities for perishables or secure container storage for exporters and importers. Partnering with the government for incentives may ease initial setup costs.

Opportunities for Large Enterprises

1. Investment in Deepwater Port Development

   • Opportunity: The government’s openness to co-invest in a $1 billion deepwater port in Berbice creates a significant opportunity for large enterprises to participate in infrastructure development.

   • Notes: Collaborate with international shipping companies to position the port as a regional hub. Include facilities for transshipment and export of bulk goods like rice, bauxite, and timber.

2. Renewable Energy Integration

   • Opportunity: The government’s focus on infrastructure and sustainable development highlights the potential for large enterprises to invest in solar farms, wind power, or hybrid energy systems to support Guyana’s energy needs.

   • Notes: Focus on regions with high industrial or agricultural activity, such as Berbice and the Demerara River area. Partner with the government to take advantage of tax incentives or subsidies for renewable energy projects.

3. Anti-Money Laundering and Compliance Technology

   • Opportunity: With Guyana earning accolades for its AML/CFT framework, large enterprises can invest in developing or licensing compliance technologies, such as AI-driven transaction monitoring systems, for regional markets.

   • Notes: Build partnerships with financial institutions and law enforcement agencies across CARICOM to create scalable, interoperable solutions tailored to the Caribbean’s unique regulatory environment.

Cross-Sector Notes and Strategies

• Leverage Regional Integration Efforts: Advocate for and utilize CARICOM trade agreements to create supply chains for products like coconut oil and other Guyanese exports, while lobbying against unfair trade barriers.

• Engage in Public-Private Partnerships (PPPs): For large-scale opportunities like the deepwater port or renewable energy, collaborate with the government for funding and technical support.

• Focus on Sustainability: Across all sectors, align business models with Guyana’s Low Carbon Development Strategy to tap into international grants, CSR funding, and consumer preferences for green initiatives.

Side Hustle Ideas Based On Today’s Developments

1. Export-Ready Coconut Product Kits

   • What It Is: Create "DIY coconut product kits" for export or local markets. These kits could include tools and instructions for making coconut oil, coconut flour, or coconut milk at home, capitalizing on the growing demand for natural and organic products.

   • Why It Works: With Guyana's abundant coconut resources and regional trade challenges, offering a semi-processed or DIY solution can bypass export restrictions while tapping into the health-conscious consumer market.

   • Getting Started: Purchase coconuts wholesale, package them attractively with simple tools (e.g., a scraper or strainer), and market them online or through local B&Bs catering to tourists.

2. Tourism Experience Packages for Visitors

   • What It Is: Offer micro-tourism experiences such as personalized day tours to hidden gems, eco-trails, or cultural immersion trips in rural areas. These can include farm visits, river tours, or village crafts.

   • Why It Works: With more tourists coming to Guyana and the Bed and Breakfast sector growing, travelers want unique, local experiences. A low-cost setup allows for flexibility alongside a regular job.

   • Getting Started: Use your knowledge of local areas, a reliable vehicle, and partnerships with rural hosts or craft vendors to create authentic experiences. Promote via Airbnb Experiences, social media, or directly through B&Bs.

3. Custom Waste Management Solutions

   • What It Is: Start a waste segregation and collection service tailored to small businesses, residents, or events. Offer premium eco-friendly solutions like composting or recyclables pickup for added value.

   • Why It Works: With new waste management initiatives in Georgetown and increasing urbanization, this addresses a pressing need while creating a sustainable income source.

   • Getting Started: Begin small by collecting recyclable materials or organic waste for composting from a specific area. Partner with waste disposal companies or sell compost to urban gardeners. Use WhatsApp and Facebook groups to find clients.

Why These Ideas Are High-Value

• Scalable: Each idea starts small but can grow with demand or partnerships.

• Resource Leverage: They utilize Guyana’s natural resources (coconuts, eco-tourism) or evolving urban infrastructure (waste management).

• Economic Alignment: These ideas align with Guyana’s rapid growth, catering to tourists, environmentally conscious consumers, or the booming B&B market.

By focusing on niche markets and leveraging Guyana’s unique resources, these side hustles provide a practical yet innovative way to generate extra income.