Guyana’s agriculture sector is filled with incredible investment opportunities. Numerous opportunities abound for the mechanization and modernization of the sector as well as for the development of climate-resilient projects.
The abundance of fertile land with a freshwater supply is among the primary reasons for investing in agriculture in Guyana. Additionally, the Guyana Office for Investment has identified the Hilly Sand and Clay region of Guyana as a region with vast potential for agriculture investment citing that this region “includes the immediate savannahs of large areas of brown, well-drained soil which is good for beef, milk, citrus, corn, cashew nuts, legumes, peanuts, soybeans, dairy products and orchard grapes.”
So yes, undoubtedly, Guyana’s agriculture sector has significant investment potential. But what are the specific areas I can invest in, you may ask? Well, if you are interested in investing in farming then rice, corn and soya, coconut, fruits and vegetables, cocoa and coffee, hemp, ginger, black pepper, and turmeric have been identified by the Guyana Office for Investment as crops that can earn you a significant return on your investment.
Meanwhile, if you are interested in livestock, poultry, beef, dairy, pork, sheep, and goat is the way to go. Opportunities in the aquaculture industry are primarily centered on the development of a commercial-scale aquaculture sector to supply international markets.
The government of Guyana has signaled its intention to significantly enhance Guyana’s agro-processing capacity and plans are in place to establish Guyana as a regional food hub. Dehydrated fruits and vegetables, seasonings and spices, sauces and achars, coconut oil, flours, and porridge mix are among the agro-processed products with the most potential for investment. $527.4 billion was allocated to support agro-processors and farmers in the 2024 National budget.
The investment potential of the agriculture sector is clear, but what incentives can I benefit from? Investing in agriculture in Guyana comes with a myriad of incentives which include “waivers of import duty and VAT on a wide range of machinery and equipment for land preparation and the cultivation including agricultural hand tools, tax concessions on agriculture investment in agro-processing facilities such as cold storage and packaging, waivers of import duty on a wide range of agrochemicals, tax -deductibles allowances for expenditures incurred for development and cultivation purposes and concessions for large scale farming.”
Look out for our next article, where we explore specific investment opportunities and examine what is currently happening in the agriculture sector.