Guidance

Overseas business risk: Guyana

Updated 30 June 2025

General overview

The Co-operative Republic of Guyana is the fastest growing economy in the world, largely because of its recently discovered oil.  It is anticipated that the country will continue double digit GDP growth over the coming few years. Economic diversification beyond oil, remains a government priority with the goal of becoming a regional agricultural hub.  In addition to oil and gas, the country has valuable mineral resources including gold, diamonds, and bauxite.   Timber is another important export with 85% of the country covered by dense rainforest. Unlike some of its neighbours, Guyana has very low levels of deforestation 

Guyana has a population of around 800,000 people mostly living along the coast.  Although geographically situated in South America, the country is culturally and historically Caribbean and the only English-speaking country in South America.  It is a member of the Commonwealth and the Caribbean Community, with the CARICOM Secretariat situated in the capital city of Georgetown. The Guyanese society is ethnically and religiously diverse, encompassing Indo-Guyanese, Afro-Guyanese, the Indigenous Amerindians, as well as the Chinese, and Portuguese descendants.  Guyana has a huge diaspora, largely living in the US, Canada, UK and across the Caribbean.

Just over a decade ago, the country was one of the poorest in the region, so much of the infrastructure and institutions are reflective of their past.  The country is using its new-found wealth to invest in a massive infrastructure programme – ranging from much needed new roads and bridges to housing developments and upgrading schools and hospitals across the country.   New hotels, restaurants, cafés and shopping centres are popping up, particularly in Georgetown and along the populated coastal strip.   

Guyana is outside of the Caribbean hurricane belt and has a very low earthquake risk.  However, coastal flooding, exacerbated by climate change, is a serious risk.  Investments are being made in upgrading drainage channels and the country’s long sea wall, but flooding remains a risk with Georgetown and much of Guyana’s population and agriculture being in the low-lying coastal areas.

Politics

Guyana is a presidential republic and a multiparty democracy with national elections scheduled to be held every 5 years. In January 2024, Guyana began a 2-year tenure on the UN Security Council.   

Politics have been a source of tension in the country for many years and violent riots have broken out during election periods.   The country has 2 major political parties, the People’s Progressive Party Civic (PPP/C) and People’s National Congress/Reform (PNC/R), have dominated political life in Guyana since the late fifties. The ruling PPP/C governed Guyana from 1992 to 2015.  The People’s National Congress Reform (PNCR) dominated the political system from independence until 1992.

Guyana has border controversies with Venezuela and Suriname.  The International Court of Justice is currently involved in resolving the border issue with Venezuela.  The UK is clear that the border between Guyana and Venezuela as defined in 1899 remains valid.

More information on political risk is available in the FCDO Travel Advice.

Economic overview

Extraordinary economic growth since 2020, averaging 42.3 percent over the last 3 years, brought GDP per capita to over US$21,284 at the end of 2024, from US$6,477 in 2019 and is now classified by the World Bank as a High-Income Country. Real GDP is estimated to increase by 10.3 in 2025, primarily driven by the expansion of oil production but also strong growth in the non-oil economy.  The country is expected to remain one of the fastest growing economies with double-digit growth rates for the next 5 years as additional oil fields start operation. (Source IMF)

Guyana is strategically located as a gateway to South America, whilst also politically and economically well connected to the Caribbean islands. English is the language while the judicial system is British based.  A double taxation treaty exists with the UK (1992), and CARICOM (1995).

Guyana is a now hydrocarbon-driven economy. However, the government is actively working to diversify and boost a range of sectors.  Agriculture is a top priority, recognising the country’s historical agricultural roots, (sugar, rice etc) and the massive food import bill across the Caribbean.  The Guyanese government is also aiming to increase economic contribution of eco-tourism, technology, health care and manufacturing.  Mining, especially gold, diamonds and bauxite will continue to contribute to the country’s growth.

Through the Low Carbon Development Strategy, Guyana has leveraged its major forest coverage in carbon credit offsets to encourage conservation of its rainforests and rich biodiversity.  In December 2022, Guyana sold one third of its carbon credits (US$ 750 million over 10 years) to the Hess Corporation.  

The government has created a Natural Resources Fund, a form of sovereign wealth fund, to assist in ensuring the country’s oil wealth is invested in assets such as infrastructure and savings that will ensure the revenue boosts economic resilience for future generations.  

Guyana remains an open, market-driven economy which promotes foreign inward investment and has attracted investors from the UK, USA, Canada, Mexico, India, Brazil, and China.  Trade is a fundamental pillar of the relations between the UK and Guyana. Total trade in goods and services (exports plus imports) between the UK and Guyana was £1.6 billion in the 4 quarters to the end of Q4 2024, an increase of 18.8% or £260 million in current prices from the 4 quarters to the end of Q4 2023.

In the 4 quarters to the end of Q4 2024, total UK exports to Guyana amounted to £773 million (a decrease of 14.5% or £131 million in current prices, compared to the 4 quarters to the end of Q4 2023). In the 4 quarters to the end of Q4 2024, total UK imports from Guyana were £867 million (an increase of 82.1% or £391 million in current prices, compared to the 4 quarters to the end of Q4 2023).  Guyana is the UK’s largest trading partner in the Caribbean, accounting for 27.5% of the £6.0 billion trade between the UK and CARIFORUM in the 4 quarters to the end of Q4 2024. In 2023, a British Chamber of Commerce was established. (Source Guyana Trade and Investment Factsheet)

The government is making some progress at improving the business environment.   In the last World Bank Ease of Doing Business in 2019, Guyana is ranked 134th out of 190 countries. The country suffers from skills shortages, with outward migration remaining an issue.  Many businesses complain about bureaucracy and the slow pace of getting things done, especially when they don’t have a country presence or local partner.  Inflation was 4.7% in 2023 (Source IMF).   

Energy infrastructure needs updating to increase both access and affordability and there are frequent blackouts. The government has an energy mix plan to install 400 megawatts of new installed capacity inclusive of hydro, solar, wind and natural gas.  A gas to shore pipeline is being installed and once in place is anticipated to halve the cost of electricity. (Source GOINVEST)

Business and human rights

The law provides for the right of association and allows workers to form and join trade unions, bargain collectively, and conduct legal strikes. The law bars military and paramilitary members from forming a union or associating with any established unions.

The law criminally prohibits forced labour. Penalties for forced labour include forfeiture of property gained as a result of the aforesaid offence, restitution to the victim, and imprisonment. Administrative labour law penalties are small monetary fines which are deemed insufficient to deter violations and are rarely enforced. Country experts have reported that forced and compulsory labour occurred in the gold mining, agriculture, and forestry sectors, as well as in domestic servitude. Children were particularly vulnerable to human trafficking, including forced labour.

The law prohibits discrimination with respect to employment and occupation based on race, sex, gender, disability, language, social status, and national origin or citizenship. Penalties are commensurate with the laws related to civil rights. The law does not prohibit discrimination based on sexual orientation or gender identity.  Same-sex sexual activity is illegal. In practice, these laws are rarely enforced, and there is growing local support for LGBT+ rights. However, showing affection in public may attract negative attention. Discrimination in employment and occupation has occurred with respect to women and to persons based on their sexual orientation or gender identity, and workplace access can be  limited for persons with disabilities.

The Ministry of Labour is charged with enforcement of the minimum wage, overtime, and Occupational Health and Safety (OSH) Regulations, but the number of inspectors was insufficient to enforce the law effectively. Penalties were not commensurate with those for similar crimes, such as fraud or negligence, and were infrequently imposed. Inspectors have the authority to make unannounced assessments but not to initiate sanctions. Labour inspections carried out during the year targeted all sectors, including agriculture, mining, and construction. See the FCO Annual Human Rights report for more information.

See the FCDO annual human rights report for more information.

Bribery and corruption

Please be guided by the Bribery Act 2010. Bribery is illegal. It is an offence for British nationals or someone who is ordinarily resident in the UK, a body incorporated in the UK or a Scottish partnership, to bribe anywhere in the world. In addition, a commercial organisation carrying on a business in the UK can be liable for the conduct of a person who is neither a UK national or resident in the UK or a body incorporated or formed in the UK. In this case, it does not matter whether the acts or omissions which form part of the offence take place in the UK or elsewhere.

Transparency International rates Guyana 87/180 countries and perceived level of corruption out was 40 out of 100. (CPI Index 2023)

The Global Corruption Barometer found that 56% of the population believes that the media has greater freedom to investigate and report on and criticise government actions and performance. In its 2022 World Press Freedom Index, Reporters Without Borders (RSF) ranked Guyana 34/180 countries (with a score of 76.41) for press freedom in 2022. This constituted an increase of 17 places since 2021.

There have also been a number of positive steps taken by the new government, including:

• making petroleum contracts publicly available
• dismissing employees found guilty of corruption
• halting contracts for cost overrun and missing deadlines which violated the procurement laws
• re-establishing the Integrity Commission
• updating the code of conduct for public officials
• appointing an ombudsman
• establishing a state assets recovery agency
• activating anti-money laundering laws
• passing whistle-blower protection legislation
• implementing several other interventions with implications for integrity in public life

The Procurement Commission has also been established to improve the public tender process.

There have been instances of property fraud.

Read the information provided on our bribery and corruption page.

Terrorism and security

The threat from terrorism is low.

Read the latest travel advice for Guyana from the Foreign and Commonwealth Office.

Read the information provided on our terrorism threat page.

The Centre for the Protection of National Infrastructure also provides protective security advice to businesses.

There have been incidents of robberies on homes and business places. Muggings have also been reported. Burglary and theft from cars are commonplace. Local travel by taxis is advised over minibuses.

Organised crime centres on the illegal drugs trade. Most execution-style killings in recent times have been speculated to be retaliatory for deals gone awry or businesses unable to finance black-market debts.

Read the information provided on our protective security advice page.

Commercial dispute

Guyana’s constitution specifically protects the right of foreigners to own property or land in Guyana. Foreign and domestic firms possess the right to establish and own business enterprises and engage in all forms of remunerative activity. There is no limit to the acquisition of foreign currency, although the government limits the amount that a number of state-owned firms may keep for their own purchases.

There is little or no executive interference in the court system that has adversely affected foreign investors, but the judicial system is generally perceived to be slow and ineffective in enforcing legal contracts. Foreign investors should acquire proper legal counsel in-country, as suspected corrupt practices and long delays can generate difficulties in the settling of investment or contractual disputes. A Commercial Court is in place. Guyana’s government lost a few cases at the Final court – the Caribbean Court of Justice – on alleged violations of its laws and the Regional Trade Agreement, Caribbean Single Market and Economy, and have duly complied with the rulings of the court.

Guyana is a member state to the International Centre for Settlement of Investment Disputes (ICSID convention) and has ratified the convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958 New York Convention), which went into force in December of 2014.

Intellectual property

Upon independence in 1966, Guyana adopted British law on intellectual property rights (IPR). Guyana became a member of the World Intellectual Property Organization in 1994. However, little has been done to comprehensively improve the legislation, while infringement of copyright and intellectual property occurs especially in the music and literature (including textbooks) industries. No modern legislation exists to protect the foreign-registered rights of investors.

Contact

Contact the Department for Business and Trade (DBT) team in Guyana for further information.