By The Rio Times | Created at 2026-09-30 17:31:51 | Updated at 2026-09-30 22:20:32
5 hours ago
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ECONOMY · GUYANA
Key Facts
- —The country Guyana, on South America’s north-east coast, is pumping offshore oil and courting foreign investors. Irfaan Ali has been president since August 2020.
- —What happened On Monday 28 September, US Ambassador Nicole Theriot told the Energy Perspectives podcast that predictable regulation matters to international businesses, iNews Guyana reported on 30 September.
- —The numbers The tax authority took 85,465 returns online in the first half of 2026. More than 70 public services are online, 11 added in that period (iNews Guyana).
- —What it means for you Foreign firms bidding for state contracts or waiting on tax refunds face the processes she wants modernised. The government promises electronic tendering by the end of 2026.
- —Still open No launch date beyond “end of the year” for e-procurement. US financing for a Demerara River port expansion is under discussion, not agreed, as of 30 September.
Predictable regulation is what international companies most need from Guyana, the US ambassador in Georgetown has said. Nicole Theriot named two fixes: a modern public tender process and faster handling of tax filings and refunds.
She spoke on the Energy Perspectives podcast on Monday 28 September, iNews Guyana reported on Wednesday. She also credited President Irfaan Ali with a serious commitment to reform, saying progress is “just going to take a little bit more”.
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What the ambassador asked for
“A very predictable regulatory environment is so important for international businesses,” Theriot said, according to iNews Guyana. She framed it as the view of US companies weighing work in the country.
Her first request was a modernised tender process for state contracts. Her second concerned the Guyana Revenue Authority (GRA), the national tax agency, and how it handles tax submissions and refunds.
The criticism came wrapped in praise. Theriot said Guyanese firms had grown skilled at meeting international standards by working alongside US partners.
Guyana Chronicle, the state-owned daily, separately confirmed her appearance on the same podcast. It reported that she announced plans by two US firms to build 10,000 affordable homes.
US money behind the message
Theriot pointed to two projects as signs of deeper US commitment. The first is the US$150 million bauxite project announced in August.
The Pentagon, styled the US Department of War under a 2025 executive order, said on 7 August it would put in US$85.5 million, with US$64.5 million from private partners. The money buys and expands a bauxite mine and builds processing capacity, Demerara Waves reported.
The second is the TriStar port on the Demerara River, which Theriot described as a US$250 million investment. She said it is seven metres deep and will be dredged to 12 metres.
Its owners are talking to the US International Development Finance Corporation (DFC), Washington’s development lender, about a roll-on, roll-off terminal. That financing has not been agreed.
What the government has already promised
The GRA says it will accept online tax payments through Mobile Money Guyana and debit cards before the end of 2026. Its Padna mobile app, used for filing and refund notices, had more than 84,000 registered users.
The government has also pledged an electronic procurement system by the end of the year. It would expand the bidder register of the National Procurement and Tender Administration Board (NPTAB), the state tender board.
That register would add beneficial ownership, tax and social-insurance compliance, past performance and any debarments. Ali has said the system will make public procurement more transparent.
Why investors are listening
Offshore oil, flowing since 2019, has transformed Guyana’s economy, and the government credits private investment for its non-oil growth. For foreign firms, predictable regulation is the next test after security.
On the same podcast, reported on 29 September, Theriot said US firms mainly ask her about political stability and security. She repeated US support for Guyana against Venezuela’s claim to the Essequibo region.
The border case sits with the International Court of Justice (ICJ), the UN’s top court. A ruling is expected early next year, according to iNews Guyana, which could remove one long-standing risk for investors.
What Is Not Yet Known
No firm launch date has been published for the e-procurement system or the GRA’s online payments. It is also unclear whether the government will respond formally to the ambassador’s remarks.
The ambassador’s comments on tendering and tax rest on one outlet’s account of the podcast, not independently confirmed. The TriStar figure is her own estimate, and the port’s US financing remains under discussion.
Sources: iNews Guyana, 30 September 2026; iNews Guyana, 29 September 2026; Guyana Chronicle, 30 September 2026; Demerara Waves, 8 August 2026 (US Department of War statement).
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