Six years into its oil production era, Guyana continues to struggle with distributing hydrocarbon revenues across its national territory, according to simultaneous acknowledgments from both government and opposition figures. Vice President Bharrat Jagdeo and A Partnership for National Unity (APNU) parliamentary leader Dr. Terrence Campbell concur that economic benefits remain disproportionately concentrated in Region Four (Demerara-Mahaica), where hospitality and service sectors have experienced explosive growth.
The administration is implementing a strategic response through tax-free investment zones designed to stimulate non-oil sectors. President Irfaan Ali’s recently unveiled five-year development agenda emphasizes agro-food processing and industrial diversification as pathways to generate high-value employment opportunities. Jagdeo confirmed that while urban centers have witnessed remarkable service sector expansion, rural, riverain, and Amerindian communities have not experienced comparable economic integration.
A cornerstone of the government’s approach involves substantial fiscal incentives, including zero corporation tax for export-oriented agricultural producers and import substitution enterprises. This policy framework accompanies ambitious development initiatives such as the planned 180,000-acre agro-industrial complex in Berbice, projected to yield billions in export revenues.
Opposition representatives argue for more equitable resource allocation regardless of political affiliations. APNU parliamentarian Nima Flue-Bess highlighted developmental disparities across Regions Five, Seven, Eight, and Ten, demanding balanced economic advancement nationwide. Dr. Campbell specifically referenced ongoing projects in PPPC-stronghold Region Six, including specialized training institutes and infrastructure developments, while urging immediate attention to agricultural sector modernization.
The parliamentary leader further cautioned about petroleum market volatility, advocating for prudent fiscal management of oil revenues. He emphasized the necessity of strategic savings and wise investment to ensure long-term economic stability amid fluctuating global energy prices.