Guyana’s Attorney General and Minister of Legal Affairs, Anil Nandlall, has reported a sharp increase in business formation, pointing to strong investor confidence and sustained economic expansion.
According to him, a total of 36,251 new businesses were registered, and 1,516 companies were incorporated during the past year. The figures reflect heightened entrepreneurial activity by both local and foreign investors across multiple sectors of the economy.
Speaking during his weekly programme, “Issues in the News,” Nandlall said the growth in registrations underscores confidence in Guyana’s economic direction, attributing the trend to stable macroeconomic management and a policy environment designed to support private sector expansion.
Against this backdrop of accelerated business activity, the Attorney General confirmed that the government is undertaking a comprehensive review of the Companies Act of 1991. The objective, he explained, is to modernise Guyana’s corporate framework to reflect the country’s evolving economic landscape and align it with international best practices.
The review comes as the economy continues to expand in scale and complexity, requiring updated legal and regulatory systems to support new forms of enterprise, investment structures, and corporate governance standards.
Government officials have also pointed to sustained public investment as a key factor supporting business growth. Large-scale infrastructure, housing, energy, healthcare, education, and public works spending has increased demand for contractors, suppliers, and service providers across the economy.
These projects have created opportunities for businesses of varying sizes, supported by structured procurement systems that allow firms to compete transparently for government contracts. The scale of development underway has translated into increased employment and income opportunities nationwide.
In parallel, workforce development initiatives such as the Board of Industrial Training (BIT) and the Women’s Innovation and Investment Network (WIIN) have been expanded to support skills training and certification. These programmes aim to equip Guyanese with the technical and professional competencies needed to participate more fully in the expanding economy.
Nandlall emphasised that economic growth is intended to be inclusive, with citizens positioned as active participants rather than passive beneficiaries.
“With all the projects and contracts coming on stream, the question is, who will do them?” he said. “The answer is the Guyanese people.”
