On Saturday, June 20, 2026, just 48 hours after Cuba unveiled a landmark package of market-oriented economic reforms that open the door to expanded private sector activity and increased foreign investment, Guyana’s President Irfaan Ali has called on the country’s domestic private sector to seize the emerging regional opportunity by building local vehicle assembly lines. Speaking at the Georgetown launch event for Chinese vehicle brands Foton and Jetour, hosted by local automotive firm CAM Motors, Ali urged the newly formed joint venture between CAM Motors, Jamaica’s ATL Automotive, the Continental Group of Companies, and Guyana-based MMKJ Inc to move forward with establishing a regional assembly hub on Guyanese soil.
Ali told attendees that he has already tasked MMKJ Inc director Vishok Persaud and his team with conducting a feasibility study to turn Guyana into a central assembly base for the growing range of new vehicle brands entering the Caribbean market. “We have the capacity to support full-scale assembly lines, and we can hit the critical market mass we need if we collaborate to scale up our regional footprint,” Ali said. “We have to look ahead – Cuba is opening its economy, and Haiti is also moving toward reopening its markets, which creates massive new demand we can meet from here.”
Beyond the newly opening Caribbean markets, Ali noted that the hub could also tap into underutilized demand in neighboring northern Brazil and the Dominican Republic, a large Spanish-speaking Caribbean economy that offers additional growth opportunities. To set the stage for these investments, he emphasized that the Guyanese government has already put in place a supportive ecosystem for manufacturing and assembly, including investor-friendly regulatory policies, competitive tax structures, low energy costs, accessible digital infrastructure, and direct government backing for new industrial projects.
Ali framed the assembly hub initiative as a core part of Guyana’s long-term economic strategy to diversify beyond its booming oil and gas sector, building a more resilient and sustainable economy that generates broad-based growth beyond the energy industry. “This is the kind of transformative project that will carry our economy past reliance on oil and gas, and move us solidly into long-term, inclusive sustainability,” he said.
Cuba’s reform package, announced by President Miguel Diaz-Canel on June 18, 2026, represents the most sweeping opening of the Cuban economy in decades, rolled out in response to years of economic pressure and mounting external challenges. As reported by Al Jazeera, the plan expands permitted private enterprise activity across multiple sectors, introduces new measures to attract foreign direct investment – including investment from Cuban nationals living abroad – paves the way for private real estate development, allows for the conversion of state-owned enterprises into privately held shareholding companies, and permits private banks to enter a financial sector that has long been exclusively state-controlled.
Persaud, the MMKJ director, confirmed that the joint venture is committed to supporting Guyana’s local content goals, beyond just building out vehicle assembly infrastructure. The partnership will not only deliver after-sales support and service for vehicle owners across the country, but also act as a domestic partner to embed local participation across the automotive supply chain. “This project lets us fully deliver on our local content legislation, expand domestic private sector participation, and ensure that Guyanese businesses get to take part in every layer of this growing industry,” Persaud said.
Ali added that shifting domestic consumer demand in Guyana already creates a strong foundation for a new vehicle assembly sector. Rising incomes have left more Guyanese with greater disposable income, driving a steady shift away from imported used Japanese vehicles toward brand-new cars and commercial vehicles. “We are already seeing a rapidly expanding market for new vehicles among both private consumers and domestic businesses, that demand is only going to grow as our economy expands,” he noted. To support this market shift, the Guyanese government already eliminated the 14 percent Value Added Tax on vehicles with engine sizes of 1500 CC and larger earlier this year, cutting purchase costs for consumers and stimulating new vehicle sales.