Guyana’s Gas-to-Energy Project to Halve Electricity Costs by 2025

President Dr. Irfaan Ali announced that Guyana's electricity costs will drop by 50% next year, thanks to the ongoing Gas-to-Energy project. The 300-megawatt natural gas power plant at Wales, fueled by offshore gas, is expected to supply energy to the national grid by 2025. While the project has faced delays, arbitration is underway to address contractor issues. President Ali reaffirmed the government’s commitment to sustainable energy solutions, including plans for a second natural gas plant, two mega hydropower projects, and expanded solar power initiatives to meet the country’s growing energy needs.

Government Criticizes Tax Waiver for Major Corporation

Vice President Bharrat Jagdeo condemned the Georgetown Mayor and City Council's (M&CC) decision to grant a 25% tax waiver to telecommunications company One Communications (formerly GTT). Jagdeo argued that financially robust foreign companies should not receive tax breaks while the M&CC pleads poverty and requests government bailouts. Minister Sonia Parag also criticized the move, citing potential violations of the Municipal and District Councils Act, which caps such discounts at 10%. The decision has sparked debate about the M&CC's financial priorities and policies.

Business Opportunities Based On Today’s Developments

Small Enterprises (SMEs)

1. Driving Schools or Road Safety Consultancy

• Opportunity: With the GPF's $400M revenue from traffic fines and increased traffic enforcement, there’s a heightened demand for safer driving practices.

• Idea: Offer tailored driving courses, workshops on road safety compliance, or consultation services for commercial vehicle fleets.

• Notes: Partnering with schools or companies could amplify reach. Incorporate digital tools, like driving apps or simulators, to attract tech-savvy learners.

2. Pop-Up Food and Beverage Stalls at GuyExpo

• Opportunity: With 300+ businesses at GuyExpo showcasing products and services, SMEs in food and beverage can cater to event-goers.

• Idea: Sell locally inspired snacks, beverages, or quick meals that resonate with both local attendees and international visitors.

• Notes: Emphasize eco-friendly packaging to appeal to sustainability-focused consumers.

3. Tourism Experience Packages

• Opportunity: LIAT’s re-entry into Guyana will boost tourism and inter-Caribbean travel. Many visitors will seek authentic local experiences.

• Idea: Offer niche tourism services, such as guided ecotours, cultural immersion packages, or riverboat tours targeting Caribbean travelers.

• Notes: Collaboration with guesthouses, tour operators, and local artisans can create a holistic experience.

Medium Enterprises

1. Renewable Energy and Efficient Power Solutions

• Opportunity: The rental of power ships indicates gaps in Guyana's energy supply. Medium enterprises can offer alternative or supplementary energy solutions.

• Idea: Install solar panels, hybrid power systems, or energy-efficient solutions for small communities and businesses.

• Notes: Seek government grants or partner with the Ministry of Energy for subsidies or pilot projects.

2. Compliance and Procurement Consulting

• Opportunity: The Housing Ministry’s emphasis on stricter compliance opens doors for businesses that can provide project management, quality assurance, or contractor training.

• Idea: Establish a consulting firm that ensures contractors meet government standards and deadlines.

• Notes: Offer training workshops for contractors and engineers to prevent costly penalties and enhance their bids.

3. Digital Traffic Monitoring Solutions

• Opportunity: The GPF’s increased use of technology for traffic enforcement and real-time monitoring offers a chance to supply or maintain tech solutions.

• Idea: Provide hardware (e.g., cameras, speed radars) or software solutions for traffic management and data analytics.

• Notes: Emphasize scalable solutions that can be integrated with existing infrastructure.

Large Enterprises

1. Luxury Tourism Developments

• Opportunity: LIAT’s renewed flights to Guyana and government-backed trade shows highlight a growing need for upscale tourism infrastructure.

• Idea: Develop boutique hotels, luxury eco-lodges, or themed attractions to cater to high-spending tourists and business travelers.

• Notes: Partner with the Tourism Ministry to align with Guyana’s push for eco-tourism and sustainable travel experiences.

2. Healthcare Technology and Services

• Opportunity: Reports on World Diabetes Day emphasize the need for modernized healthcare, particularly for diabetes management and diagnostics.

• Idea: Invest in healthcare infrastructure, such as mobile diagnostics units, telemedicine platforms, or advanced medical supplies distribution.

• Notes: Collaborate with the Ministry of Health to tap into public funding or policy support for diabetes care.

3. Energy Infrastructure Development

• Opportunity: The government’s reliance on power ships suggests a pressing demand for large-scale energy projects.

• Idea: Invest in renewable energy plants (solar farms, wind turbines) or develop gas-to-energy systems in partnership with the government.

• Notes: Position as a key player in Guyana’s energy transition to attract both public funding and private-sector investors.

Additional Notes Across All Sectors

• Collaborations: Across all ideas, partnerships with government bodies, NGOs, or private organizations will enhance credibility and impact.

• Sustainability: Highlight eco-friendly and sustainable practices to align with global trends and attract both local and international clients.

• Tech Integration: Digital solutions, whether in tourism, compliance, or healthcare, will be key differentiators, especially for forward-looking enterprises.

Side Hustle Ideas Based On Today’s Developments

1. Luxury Picnic and Event Setup Services

• What: Offer curated luxury picnic setups for small gatherings, date nights, or celebrations in scenic outdoor locations around Guyana.

• How:

  • Use portable furniture, cushions, fairy lights, and themed decorations for a premium experience.

  • Partner with local food vendors for charcuterie boards or snacks.

  • Leverage social media to market packages and showcase stunning setups in iconic locations like seawalls or botanical gardens.

• Why: With tourism and local disposable incomes rising, there’s demand for unique experiences and upscale recreational activities.

• Startup Cost: Low to moderate – invest in reusable decor and furniture.

• Income Potential: High, especially for special occasions like anniversaries, birthdays, and proposals.

2. Delivery Services for Hyperlocal Products

• What: Create a niche delivery service focusing on hard-to-access but in-demand products, such as fresh seafood, farm produce, or homemade goods from rural areas.

• How:

  • Partner with small producers in rural areas to source unique items.

  • Use WhatsApp or a simple website to take orders and schedule deliveries.

  • Focus on fast, reliable service in urban centers like Georgetown.

• Why: As Guyana’s economy grows, urban residents want convenient access to fresh and unique local products, but rural producers often lack logistical support.

• Startup Cost: Moderate – vehicle rental or purchase, marketing, and app/website setup.

• Income Potential: High, especially if you secure repeat customers or business clients.

3. Mobile Tech Repair and Upgrade Services

• What: Offer doorstep repair and upgrade services for phones, tablets, and laptops, focusing on convenience and affordability.

• How:

  • Acquire basic tools and training for fixing common tech issues like screen repairs, battery replacements, and software updates.

  • Use social media and WhatsApp for booking and customer outreach.

  • Offer bundled services like device cleaning or accessory sales.

• Why: With a growing tech-savvy population and an influx of disposable income, people are likely to pay for the convenience of doorstep service for their devices.

• Startup Cost: Moderate – investment in tools and training.

• Income Potential: High, especially in urban centers and areas with limited repair shops.

Why These Ideas Work in Guyana

1. Tourism Growth: The luxury picnic business taps into the rising interest in unique experiences, boosted by Guyana's expanding ecotourism appeal.

2. Convenience-Oriented Economy: Delivery and tech repair services cater to the growing urban middle class seeking time-saving solutions.

3. Community-Centric Approach: These ideas leverage local resources and services to create sustainable side businesses with high potential for growth.