GEORGETOWN, Guyana — The Guyanese government has announced the imminent launch of a comprehensive five-year national development strategy focused on unprecedented economic expansion and infrastructure integration. President Irfaan Ali revealed the ambitious plan during his keynote address at the Guyana Oil and Gas Energy Chamber’s Annual Awards Presentation Dinner on Friday evening.
President Ali characterized the forthcoming strategy as unparalleled in both scale and national impact, designed to align with the country’s rapidly accelerating development trajectory. This growth is primarily driven by historic investments across multiple sectors including energy, infrastructure development, logistics networks, and diversified industrial projects.
“Our national journey is now gaining tremendous momentum,” President Ali declared. “Within coming days, I will present with absolute clarity our economic expansion, infrastructure integration, and development projections for the next five years.”
The President identified Wales and Berbice as emerging epicenters of a transformed national energy ecosystem. The Wales development zone is slated to receive over US$4 billion in investments during the five-year period, funding critical projects including gas-to-energy initiatives, power generation facilities, industrial fabrication plants, specialized industrial zones, and enhanced marine infrastructure.
Meanwhile, the Berbice region will anchor a second major gas project featuring a deep-water port facility, industrial expansion programs, and an extensive gas pipeline system valued at over US$2 billion. Collectively, these strategic regions are expected to drive nearly US$10 billion in new infrastructure and energy-linked investments.
“These figures are truly remarkable,” President Ali told attendees. “If this level of development doesn’t excite us as a nation, I cannot imagine what would.”
The address included significant production forecasts, with Guyana expected to close the year producing approximately 930,000 barrels of oil daily, substantially increased from 650,000 barrels earlier this year. Conservative projections indicate production could reach 1.3 million barrels per day by 2030.
President Ali simultaneously issued cautious notes regarding global market conditions, noting that industry forecasts suggest an oil oversupply environment between 2025 and 2030. He emphasized that Guyana must consequently build a competitive, efficient, and technologically advanced energy ecosystem to navigate market volatility.
“Our industry remains acutely sensitive to price fluctuations, operational costs, technological advancements, and regulatory frameworks,” the President stated. “Every risk inherent in global commodity markets becomes magnified within oil and gas sectors.”
The President identified human capital development as equally critical to national success, addressing current private sector concerns regarding workforce shortages. He urged workers to embrace upskilling initiatives, higher productivity standards, and a culture of excellence to match the nation’s transformative pace.
Warning against complacency, President Ali noted that “workforce maturity gaps or operational inefficiencies could threaten our competitiveness and undermine national development.” Despite Guyana’s rapid economic ascent, he advocated for disciplined planning and long-term strategic thinking.
“While our future appears exceptionally promising, we must temper expectations and avoid being swept away by overwhelming optimism,” President Ali counseled. He affirmed the government’s commitment to converting oil revenues into productive national assets including transportation infrastructure, port facilities, energy systems, human capital development, and diversified industrial capacity.
Concluding on an assured note, President Ali stated: “Our nation’s economy remains in secure hands—your hands, our collective hands, the steady hands of our nation.”