# ![](media/image1.jpeg){width="0.7395833333333334in" height="0.78125in"}  Doing Business In Guyana: A Country Commercial Guide for U.S. Companies

# INTERNATIONAL COPYRIGHT, U.S. & FOREIGN COMMERCIAL SERVICE AND U.S. DEPARTMENT OF STATE, 2006. ALL RIGHTS RESERVED OUTSIDE OF THE UNITED STATES.

-   [Chapter 1: Doing Business In
    Guyana](#chapter-1-doing-business-in-guyana)

-   [Chapter 2: Political and Economic
    Environment](#chapter-2-political-and-economic-environment)

-   [Chapter 3: Selling U.S. Products and Services](#ch3)

-   [Chapter 4: Leading Sectors for U.S. Export and Investment](#ch4)

-   [Chapter 5: Trade Regulations and Standards](#ch5)

-   [Chapter 6: Investment Climate](#ch6)

-   [Chapter 7: Trade and Project Financing](#ch7)

-   [Chapter 8: Business Travel](#ch8)

-   [Chapter 9: Contacts, Market Research and Trade
    Events](#chapter-9-contacts-market-research-and-trade-events)

-   [Chapter 10: Guide to Our Services](#ch10)

#   {#section .unnumbered}

# Chapter 1: Doing Business In Guyana

-   [Market Overview](#market-overview-return-to-top)

-   [Market Challenges](#market-challenges-return-to-top)

-   [Market Opportunities](#market-opportunities-return-to-top)

-   [Market Entry Strategy](#market-entry-strategy-return-to-top)

## Market Overview [**Return to top**](#chapter-1-doing-business-in-guyana)

-   **The Country:** Guyana, the only English-speaking country in South
    America, is located on the North Atlantic coast of the continent
    between Venezuela, Suriname and Brazil. The country is about the
    size of Idaho and has a population of approximately 750,000. Ninety
    percent of the population lives on the narrow coastal plain, while
    the largely untapped interior features rainforests and savannahs.
    Although geographically a part of South America, Guyana is more
    culturally and politically tied to the Caribbean.

-   **The Economic Environment:** A GDP of US\$717 million and a per
    capita GDP of US\$868 makes Guyana one of the poorer countries in
    the Western Hemisphere. Following a contraction of output due to
    flooding in January 2005, real economic growth declined by 3%
    in 2005. Year-on-year inflation expanded to 8.3%. Gross
    international reserves in mid-2005 fell to US\$232 million, or 2.7
    months of imports, compared to \$246.5 million, or 3.3 months of
    imports, at the end of 2004.

-   **Fiscal and Monetary Policy:** The exchange rate has remained
    stable at around G\$200/\$US since mid-2004. External public debt at
    the end of 2005 was US\$1.1 billion, 90 percent of which is owed to
    multilateral development institutions. The U.S. and the IMF recently
    announced substantial debt relief.

-   **The Government:** Guyana is a constitutional parliamentary
    democracy. Two parties dominate the political scene, the People's
    Progressive Party with its Civic partner (PPP/C), led by President
    Bharrat Jagdeo, and the People's National Congress/Reform (PNC/R).
    Elections are constitutionally due to be held by August 2006.

-   **The Trade Relationship:** The U.S. is Guyana\'s number one source
    for imports and number two destination for exports. Total commerce
    between the two countries in 2004 was over US\$258 million. The U.S.
    enjoys a trade surplus with Guyana amounting to US\$13 million. The
    U.S. supplies nearly 30% of Guyana\'s imports, with machinery,
    telecommunications equipment, wheat, and lubricating oils as the
    leading commodities.

## Market Challenges [**Return to top**](#chapter-1-doing-business-in-guyana) 

-   **Infrastructure:** Infrastructure in Guyana is poorly developed,
    with frequent electrical outages, high telecommunications costs and
    an under-developed transportation system. While the flooding in
    early 2005 was extraordinary, investors should be aware of the risks
    of similar natural disasters and secure inventories accordingly.

-   **The Regulatory Environment:** Potential investors should be aware
    that government decision-making can be slow and opaque. An
    extraordinary number of issues are resolved in Cabinet or in the
    Office of the President, a process that is not open to public
    scrutiny and which often results in long delays.

-   **Tariffs**: As a CARICOM member, Guyana has strongly advocated
    enforcement of the Common External Tariff, particularly with regard
    to rice.

-   **Crime**, particularly in urban areas, adds to the risk of doing
    business in Guyana. Investors contemplating a business presence in
    Guyana should make adequate provisions for security.

## Market Opportunities [**Return to top**](#chapter-1-doing-business-in-guyana)

-   **Caribbean Single Market Economy (CSME):** Guyana became one of the
    original members of the CSME on January 1, 2006. The CSME removes
    restrictions on the movement of goods and services, skilled labor,
    and capital as well as harmonization of laws throughout the region.

-   **Caribbean Basin Trade Partnership Act (CBTI):** As a CBTI member,
    a number of Guyanese products enjoy duty-free access to the U.S.
    market, including apparel knit with American-made material.

-   **Trade Incentives:** Guyana exempts factory machinery and equipment
    imports from customs duties with the approval of the Commissioner
    General of the Guyana Revenue Authority. Guyana also offers
    tax-exemptions to firms that produce non-traditional exports and
    that invest in certain regions.

-   **Cricket World Cup 2007:** Guyana will host several matches in the
    International Cricket Council (ICC) Cricket World Cup in
    March-April 2007. Demand for hotel accommodations, transportation,
    logistics, and security for the event will provide ample
    opportunities for U.S. companies.

-   **Best U.S. Export Opportunities:** The U.S. is the leading source
    of imported goods, and demand for agricultural and mining machinery,
    telecommunications equipment, wheat, and auto parts will continue.

## Market Entry Strategy [**Return to top**](#chapter-1-doing-business-in-guyana)

-   U.S. consumer goods enjoy widespread recognition in Guyana. U.S.
    exporters tend to work through a local distributor and personal
    contacts. Investors seeking to set up a business in Guyana should be
    prepared to be patient and persistent and not expect a quick return
    on investment.

[Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

#   {#section-1 .unnumbered}

# Chapter 2: Political and Economic Environment

For background information on the political and economic environment of
the country, please click on the link below to the U.S. Department of
State Background Notes.

<http://www.state.gov/r/pa/ei/bgn/1984.htm>

[Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

[[]{#ch3 .anchor}Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

# Chapter 3: Selling U.S. Products and Services 

-   [Using an Agent or
    Distributor](#using-an-agent-or-distributor-return-to-top)

-   [Establishing an Office](#establishing-an-office-return-to-top)

-   [Franchising](#franchising)

-   [Direct Marketing](#direct-marketing-return-to-top)

-   [Joint Ventures/Licensing](#joint-ventureslicensing-return-to-top)

-   [Selling to the
    Government](#selling-to-the-government-return-to-top)

-   [Distribution and Sales
    Channels](#distribution-and-sales-channels-return-to-top)

-   [Selling
    Factors/Techniques](#selling-factorstechniques-return-to-top)

-   [Electronic Commerce](#electronic-commerce-return-to-top)

-   [Trade Promotion and
    Advertising](#trade-promotion-and-advertising-return-to-top)

-   [Pricing](#pricing-return-to-top)

-   [Protecting Your Intellectual
    Property](#protecting-your-intellectual-property-return-to-top)

-   [Due Diligence](#due-diligence-return-to-top)

-   [Local Professional
    Services](#local-professional-services-return-to-top)

-   [Web Resources](#web-resources-return-to-top)

Guyana is the only English-speaking nation in South America. U.S.
products benefit from an excellent reputation in Guyana. North American
origin is widely advertised by Guyanese businesses as a mark of quality.
Guyanese generally have a high degree of awareness of and appreciation
for American brands. This preference may be attributed to two factors.
First, television in Guyana is heavily dominated by U.S. programming.
Guyanese television stations rebroadcast U.S. programming, often
complete with the American advertising. Second, the strong ties between
Guyanese and large Guyanese diaspora in the United States reinforce
popular familiarity with American products and services.

## Using an Agent or Distributor [**Return to top**](#ch3)

Many U.S. exporters of consumer products will find that an
agent/distributor arrangement is the most convenient, practical, and
cost-effective mechanism for sales in Guyana. Local distributors tend to
have superior market knowledge and distribution networks.

## Establishing an Office [**Return to top**](#ch3)

[[]{#franchising .anchor}The Guyana Office for
Investment](http://www.goinvest.gov.gy/index.html) (Go-Invest) is
intended to be the definitive agency for foreign investors who wish to
do business in Guyana. In 1999, The Guyana Export Promotion Council was
dissolved and its functions were merged with those of Go-Invest under
the authority of the Office of the President. The government\'s decision
to merge these two agencies was done to facilitate investment.
Prospective investors should still be prepared to consult with several
ministries and agencies when starting a business in Guyana. The Chief
Executive Officer of Go-Invest is Mr. Geoffrey DaSilva, Tel.
592-227-0653, 225-0658 or 225-0653, or on the internet at
[http://www.goinvest.gov.gy](http://www.goinvest.gov.gy/).

Setting up shop in Guyana can be a cumbersome process. GO-INVEST bills
itself as the \"first-stop shop\" for investors interested in the
Guyanese market and can provide information on requirements as well as
special incentives for certain sectors. The World Bank reports that
entrepreneurs interested in opening a business in Guyana can expect an
8-step process to register a company with relevant authorities,
requiring an average of 46 days. Companies planning to register property
can expect an additional 24 days.

Guyanese law generally treats foreign companies the same as domestic
companies. Specific requirements to register a business depend on
whether the enterprise will be a single ownership, a small business
proprietorship/partnership, or an incorporated company. Business
registration is the responsibility of the Deeds Registry in Georgetown.

To register a corporation, a company must submit Articles of
Incorporation (in duplicate), a statutory declaration from an attorney
that no signatory to the articles is under the age of 18, statements
naming the first directors and secretary and their consent to serve, and
notice of the company\'s registered address. In addition, foreign
companies must submit a copy of the registration from its home country.
Registration fees include a share capital fee of G\$25,000 (US\$125) for
up to G\$500,000 (US\$2,500) of share capital, or 6% for share capital
in excess of this amount, and G\$30,000 (US\$150) for a Certificate of
Incorporation. In addition, foreign companies must notify the Deeds
Registry within 28 days of a significant change in name, ownership or
directors or termination of activities in Guyana.

Businesses establishing operations to be managed exclusively by local
personnel should be careful to develop good accountability systems and
select management staff with care. Businesses should also plan to
provide significant training, as personnel experienced in American-style
business operations are scarce. Although labor costs are quite low in
Guyana, it is generally a good investment to pay slightly more than the
prevailing wages to secure qualified staff and avoid high rates of
employee turnover and absenteeism.

Guyana has a fairly high incidence of property crime, particularly in
the capital city. U.S. businesses planning to establish a presence in
Guyana should plan for adequate physical security at all business and
residential facilities. Local security contractors are readily
available, but of uneven quality.

## Franchising [**Return to top**](#ch3)

While not yet common, franchising shows signs of growth in Guyana. Early
successes in the petroleum sector and fast food outlets such as KFC and
Pizza Hut are already encouraging additional entrants. The high degree
of brand recognition makes franchising a good possibility for successful
introduction of U.S. products and services in Guyana. However, potential
franchise investors should carefully assess the ability of local
producers to meet quality standards for locally-sourced products.

## Direct Marketing [**Return to top**](#ch3)

Direct marketing is not widespread in Guyana. The lack of sophisticated
market data makes efforts to target potential consumers difficult.

## Joint Ventures/Licensing [**Return to top**](#ch3)

In some sectors, most notably mining, joint ventures with a Guyanese
partner are common. Many of the government\'s \"privatizations\" also
result in joint ventures, with the government retaining significant
ownership. While some investors are uncomfortable with this arrangement,
others welcome such a structure, taking the view that it makes the
government more of an ally. Licensing requirements are currently being
revised for timber and mining operations. Due to recent environmental
protection legislation, applicants for new timber and mining concessions
can expect delays while regulations are being developed. Most other
business operations require registration and incorporation. Local
attorneys can best advise on these requirements.

## Selling to the Government [**Return to top**](#ch3)

Government procurement is generally by public tender. A number of
ministries, including the Ministry of Agriculture and the Ministry of
Public Works, have established Project Execution Units (PEUs) to
implement projects. Large projects are the jurisdiction of the Central
Tender Board. For some projects, international donors\' procurement
procedures are used. Government tender offers are published in the
newspapers and generally have short bidding periods, which often must be
extended to give interested bidders enough time to put together tender
packages. Proposals have been made to amend the current operations of
the Central Tender Board, which would lead to more efficient and
transparent procedures, but they have not been implemented.

Government involvement in the economy is quite large, and many
public-sector managed projects are financed by international agencies,
creating substantial procurement opportunities in Guyana. Opportunities
exist for U.S. companies to bid on government projects financed by
international lending institutions, such as the Inter-American
Development Bank. However, these projects have historically been too
small to interest U.S. bidders.

## Distribution and Sales Channels [**Return to top**](#ch3)

Cheddi Jagan International Airport at Timehri, approximately 25 miles
south of Georgetown, handles all international passenger and airfreight
traffic. The country's major port is located in Georgetown, with minor
ports at New Amsterdam, Corriverton and Linden.

Due to the small size of the local market, most U.S. firms prefer to use
a local agent or distributor. One prevalent problem in this area is
violation of the rights of exclusive distributors. A host of small
Guyanese \"traders\" regularly travel abroad and purchase wholesale
quantities of packaged consumer goods, often choosing seconds or nearly
expired products from discount outlets. These products are most often
sold through Guyana\'s extensive network of virtually unregulated small
shops and street kiosks. This practice undercuts exclusive distribution
rights that authorized distributors may have with the manufacturer. It
also negatively affects the brand image of a product line when customers
associate unauthorized expired products with the legitimate brand name.
Unfortunately, there is no effective institutional recourse in place to
protect the rights of authorized distributors.

Information on shipping lines serving Guyana, their agents, and
terminals is available from the Shipping Association of Guyana at
<http://www.shipping.org.gy/index.php>

## Selling Factors/Techniques [**Return to top**](#ch3)

All promotional materials and product labels should be in English. U.S.
products benefit from an excellent reputation in Guyana. North American
origin is widely advertised by Guyanese businesses as a mark of quality.
Guyanese generally have a high degree of awareness of and appreciation
for American brands.

## Electronic Commerce [**Return to top**](#ch3)

E-Commerce has yet to take hold in Guyana. Despite a recent
proliferation of internet cafes and the expanding availability of
high-speed internet access, internet use is not widespread in part
because internet subscription rates are very expensive. Also, only a
tiny portion of the population has a credit card.

Over the past few years, the Government of Guyana through the Ministry
of Tourism, Industry and Commerce has been conducting consultations on
the impact of E-Commerce on the business community. The consultations
revealed concern in the business community that contracts entered into
over the internet may not be legally binding, and this is contributing
to a reluctance to rely on the internet for more than just simple
advertising. This is inhibiting the development of E-Commerce activity
in Guyana as a vehicle for transforming traditional business models and
extending the outreach of our firms in the international markets. The
Ministry of Tourism, Industry and Commerce has drafted an E-Commerce
Bill that seeks to establish the legal environment for the conduct of
electronic commerce and the processing of electronic transactions. The
Ministry is presently engaged in discussions and consultations on the
Draft E-Commerce Bill.

## Trade Promotion and Advertising [**Return to top**](#ch3)

Guyana is the only English-speaking nation in South America. Most
advertising is done in local newspapers and on local radio and
television.

**Newspapers:**\
\
Stabroek News (independent daily), Anand Persaud, editor\
Tel: 225-3376, 226-7206, 227-4076, 227-8571, 227-4080\
Website: [www.stabroeknews.com](http://www.stabroeknews.com/)\
\
Guyana Chronicle (government-owned daily), Sharief Khan,
editor-in-chief.\
Tel: 227-5216, 226-3243-9, 227-5204\
Website: [www.guyanachronicle.com](http://www.guyanachronicle.com/)

Kaiteur News (independent newspaper), Gwen Evelyn, editor.\
Tel: 225-8465\
Fax: 225-8473\
Website:
[http://www.kaiteuernewsgy.com](http://www.kaiteuernewsgy.com/)\
\
Guyana Review (independent monthly magazine), David Granger,
editor-in-chief.\
Tel: 226-3139\
Email: guyrev@networksgy.com\
\
Radio: There are two radio stations in Guyana, both run by the
state-owned National Communication Network (NCN), Mark Bhagwandin,
editor-in-chief. Tel: 226-0544

**Television Stations:**\
\
GWTV Channel 2, Tel: 226-4576

STVS Channel 4, Tel: 227-0580\
\
CNS Channel 6, Tel: 226-1834, 226-1839\
\
WHRM Channel 7, Tel: 227-0018\
\
RCA Channel 8, Tel: 271-4180\
\
HBTV Channel 9, Tel: 226-9986\
\
LRTVS Channel 10, Tel: 223-4445\
\
NCN 11 (government owned), Tel: 227-1566/7\
\
RBS Channel 13, Tel: 226-4311, 227-7111\
\
HGP Channel 16, Tel: 220-3995\
\
NTN Channel 18, Tel: 226-1279\
\
VCT Channel 28, Tel: 225-7761\
\
MBC Channel 42, Tel: 225-3986\
\
VTV Channel 46, Tel: 223-7977/8\
\
MTV Channel 65, Tel: 225-8944

## Pricing [**Return to top**](#ch3)

Most imported goods tend to be priced cost-insurance-freight plus a
markup.

## Protecting Your Intellectual Property [**Return to top**](#ch3)

Enforcement of intellectual property rights in Guyana is lax. Local
appropriation of American brand names and logos is widespread. Guyana
does not have a Bilateral Investment Treaty or an Intellectual Property
Rights Agreement with the U.S.

## Due Diligence [**Return to top**](#ch3)

The Embassy has received complaints in the past from U.S. entities that
have had difficulty collecting payments from local customers.
Prospective investors and exporters should thoroughly investigate local
counterparts. While the U.S. Embassy does not routinely conduct
background checks on local firms, the Commercial Section can offer
advice on the investment climate to potential investors.

## Local Professional Services [**Return to top**](#ch3)

Guyana's legal system is based on the colonial English legal system
(common in the British Commonwealth system), with certain admixtures of
Roman-Dutch law. Thus local business law differs somewhat from common
practice in the U.S. The U.S. Embassy strongly recommends retaining a
local attorney for all but the simplest transactions. Interested
investors are advised to consult a local attorney (listings are
available from the U.S. Embassy\'s Consular Section) before opening an
office.

## Web Resources [**Return to top**](#ch3)

Guyana Office for Investment:
[http://www.goinvest.gov.gy](http://www.goinvest.gov.gy/)

[Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

[[]{#ch4 .anchor}Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

# Chapter 4: Leading Sectors for U.S. Export and Investment 

**Commercial Sectors**

> **Best Prospects**

-   [Heavy Machinery/Transport
    Machinery](#heavy-machinerytransport-machinery)

-   [Telecommunications Equipment](#telecommunications-equipment)

-   [Computers and Peripherals](#computers-and-peripherals)

-   [Motor Spares](#automotive-spares-parts)

# Agricultural Sector

-   [Timber Harvesting](#timber-harvesting)

-   [Seafood](#seafood)

### Commercial Sectors [**Return to top**](#ch4)

**Best Prospects**

## Heavy Machinery/Transport Machinery

### Overview [**Return to top**](#ch4)

> **(In US\$ Millions)**

  ------------------------ -------------- ------------ -------------------
                           **2003**       **2004**     **2005
                                                       (estimated)**

  Total Market Size        90.5           107.5        128.2

  Total Local Production   0              0            0

  Total Exports            0              0            0

  Total Imports            90.5           107.5        128.2

  Imports from the U.S.    25.9           41.6         51.3
  ------------------------ -------------- ------------ -------------------

(Source: U.S. International Trade Commission, Bank of Guyana).

Heavy Machinery/Transport Machinery refers to Agricultural
Machinery/Equipment, Industrial Machinery/Equipment, Transport
Machinery/Equipment, Mining Machinery Construction Machinery/Equipment
and Engineering Machinery/Equipment.

The engineering and construction sector expanded by 6.9% in 2005. This
reflected the increase in public sector investment in infrastructure,
particularly on roads, bridges, sea defenses and drainage and
irrigation. Private sector investment into the construction of housing
projects, hotels and other activity associated with the preparation for
Cricket World Cup in 2007. For the first half of 2005 the sector
accounted for just 6.1 percent of GDP, and it is one of the fastest
growing components of the economy for the first half of 2005. The
Ministry of Public Works oversaw a significant portion of the capital
expenditure between 2003 and 2005. The government will continue to
emphasize infrastructure development including ongoing sea defense
repair, road projects, upgrading of Cheddi Jagan International Airport,
stellings (ferry landings) and wharves, water supply improvements, and
housing developments, although perhaps at a reduced rate. Most
infrastructure projects are funded by international financial
institutions such as the World Bank and the Inter-American Development
Bank (IDB) at concessional interest rates. One on the major projects
that began in 2005 was the construction of a cricket stadium which
required the services of international consultants in the preparation of
feasibility studies and other impact assessment studies to be done
before the construction of the cricket stadium was commence.

In addition, bauxite mining comprises a significant portion of the
overall Guyanese market. The state-owned mining corporation, Linmine,
changed hands in 2005, being bought out by a Canadian company. The new
owners are now dealing with outdated, inefficient equipment and will
need to upgrade to operate at optimal conditions. Despite a sharp
decline in production in 2004, earnings from export of bauxite rose by
10.6% on the basis of an increase in unit price by 31.7%, and investment
in the industry is likely to continue.

### Best Products/Services [**Return to top**](#ch4)

Sorting, excavating, transport, building materials, mining machinery,
agriculture machinery, architectural, construction and engineering
services, industrial machinery and also foreign direct investment.

### Opportunities [**Return to top**](#ch4)

The government construction of a new stadium, private sector
construction of two hotels, new housing projects and the activity
associated with Guyana's preparation for Cricket World Cup in 2007;
dredges to clear waterways and support drainage and irrigation
infrastructure.

### Resources [**Return to top**](#ch4)

Guyana Geology and Mines Commission

Upper Brickdam

Georgetown, Guyana

Tel: (592) 225-3047

<http://www.sdnp.org.gy/ggmc/>

## Telecommunications Equipment

### Overview [**Return to top**](#ch4)

> **(In US\$ Millions)**

  ------------------------ -------------- ------------ -------------------
                           **2003**       **2004**     **2005
                                                       (estimated)**

  Total Market Size        NA             NA           NA

  Total Local Production   NA             NA           NA

  Total Exports            NA             NA           NA

  Total Imports                                        

  Imports from the U.S.    14.3           5.8          13.2
  ------------------------ -------------- ------------ -------------------

(The above statistics are unofficial estimates)

### Best Prospects/Services [**Return to top**](#ch4)

Electric equipment, fiber optic cables

### Opportunities [**Return to top**](#ch4)

Since 1991, Guyana has been in a slow but steady process of liberalizing
its telecommunications. Currently, two companies offering wireless
services in the country, with plans to introduce a third provider. To
support these services, interested US companies may want to consider
exporting

### Resources [**Return to top**](#ch4)

Commercial Specialist

U.S. Embassy Georgetown

Tel: (592) 225-4900 ex. 228

<http://www.buyusa.gov/caribbean/en/guyana.html>

## Computers and Peripherals

### Overview [**Return to top**](#ch4)

> **(In US\$ Millions)**

  ------------------------ -------------- ------------ -------------------
                           **2003**       **2004**     **2005
                                                       (estimated)**

  Total Market Size        NA             NA           NA

  Total Local Production   NA             NA           NA

  Total Exports            NA             NA           NA

  Total Imports                                        

  Imports from the U.S.    3.9            4.7          5.6
  ------------------------ -------------- ------------ -------------------

(The above statistics are unofficial estimates)

### Best Prospects/Services [**Return to top**](#ch4)

Desk top computers, work stations, laptop, notebooks, printers, computer
parts and accessories, data processing equipment, data storage device,
servers, software

### Opportunities [**Return to top**](#ch4)

Companies and government officers are steadily computerizing as costs
lessen. Importers are exempt from duties on computers. Guyana launched
the Internet in 1997 and demand is quickly expanding.

### Resources [**Return to top**](#ch4)

Commercial Specialist

U.S. Embassy Georgetown

Tel: (592) 225-4900 ex. 228

<http://www.buyusa.gov/caribbean/en/guyana.html>

## Automotive Spares (Parts)

### Overview [**Return to top**](#ch4)

(In US\$ Millions)

  ------------------------ -------------- ------------ -------------------
                           **2003**       **2004**     **2005
                                                       (estimated)**

  Total Market Size        33.0           34.2         33.0

  Total Local Production   N/A            N/A          N/A

  Total Exports            N/A            N/A          N/A

  Total Imports            33.0           34.2         33.0

  Imports from the U.S.    1.3            1.9          2.44
  ------------------------ -------------- ------------ -------------------

(The above statistics are unofficial estimates)

### Best Products/Services [**Return to top**](#ch4)

Filters, plugs, belts, any variety of automotive part.

### Opportunities [**Return to top**](#ch4)

All vehicles in Guyana are imported and subject to very high import
duties of as much as 150% of the vehicles CIF value. Since the cost of
new vehicles is unaffordable for most citizens and labor costs for
vehicle repair are relatively low, cars and trucks last much longer than
in the United States. Vehicles in Guyana are frequently driven on poor
roads and in harsh climate conditions. Since Guyanese maintain their
vehicles for an extensive period of time, spare parts are traded
regularly. Many spare parts are imported from the United States by
dealers who travel to the U.S. to source the goods. The demand for spare
parts will continue to increase with the rise in vehicle purchases.

### Resources [**Return to top**](#ch4)

Commercial Specialist

U.S. Embassy Georgetown

Tel: (592) 225-4900 ex. 228

<http://www.buyusa.gov/caribbean/en/guyana.html>

**Agricultural Sectors** [Return to top](#ch4)

Agriculture comprises a major portion of the Guyanese economy. Sugar and
rice are the country\'s two staple exports. To encourage continued
investment in the agricultural sector, the government has removed the
consumption tax on a range of agricultural products, including drainage
and irrigation equipment, fertilizer spreaders, and agricultural and
horticultural implements. This should encourage continued demand for
U.S. products. Leading U.S. agricultural exports include wheat and
meslin, poultry feeds, eggs in shell for hatching, and milk and cream.
In addition, Guyana has sought to develop non-traditional agricultural
exports as well. Two noteworthy areas include timber harvesting and
processed seafood.

## Timber Harvesting

### Overview [**Return to top**](#ch4)

> **(In US\$ Millions)**

  ---------------------------- ------------ ------------ -----------------
                               **2003**     **2004**     **2005
                                                         (estimated)**

  Total Market Size            N/A          N/A          N/A

  Total Local Production (cu.  305,468      437,348      393,276
  meter)                                                 

  Total Exports                30.7         45.0         39.6

  Total Imports                N/A          N/A          N/A

  Imports from the U.S.        N/A          N/A          N/A
  ---------------------------- ------------ ------------ -----------------

(The above statistics are unofficial estimates)

Guyana has a variety of tropical hardwoods and softwoods that are
currently being harvested and exported. Linked to increased investments
in the Forestry and Wood Products Sector, timber turned in a strong
performance in 2004. The contribution of this commodity to total exports
increased from 6.0% in 2003, to 7.6% in 2004, while its contribution to
GDP was 6.9% in 2004, compared to 4.9% in the preceding year. Export
earnings from timber grew by 46.5% and amounted US\$45 million in 2004,
up from US\$30.7 million earned in 2003. Export volume of plywood rose
by 3.5%, earning US\$14.6 million, 33.3% more than revenue earned in
2003. The Guyana Forestry Commission reports that the sector grew by 6%
in 2005. The Commission has said it intend to increase revenue from
Timber Sales Agreements by 20 to 30 percent in the short to medium term.
In addition, the Forest Products Marketing Council (FPMC) was launched
in December 2005 to enhance marketing capabilities.

### Best Prospects/Services [**Return to top**](#ch4)

The production of furniture, export of lumber, plywood and also
government is encouraging investment into the sector by foreign and
local investors.

### Opportunities [**Return to top**](#ch4)

Guyana has a growing furniture manufacturing sector. Several companies
have entered the market recently, with some moving into export oriented
production. Many investors are encouraged to participate with existing
operators in activities to produce not only furniture, but also plywood
and veneers, parquet, floor tiles, kiln drying and wood preservation
activities. As more companies shift toward export production, they will
need machinery to meet their goals.

### Resources [**Return to top**](#ch4)

Forest Products Marketing Council (<http://www.fpmcguy.org/>)

1 Water Street

Georgetown

Guyana

Tel: 592-226-7271

Fax: 592-226-8956

Guyana Forestry Commission (<http://www.forestry.gov.gy/>)

1 Water Street

Georgetown

Guyana

Tel: 592-226-7271

Fax: 592-226-8956

## Seafood

### Overview [**Return to top**](#ch4)

(**In US\$ Millions)**

  ------------------------ -------------- ------------ -------------------
                           **2003**       **2004**     **2005
                                                       (estimated)**

  Total Market Size        N/A            N/A          N/A

  Total Local Production   N/A            N/A          N/A

  Total Exports            53.9           58.3         63.8

  Total Imports            N/A            N/A          N/A

  Imports from the U.S.    N/A            N/A          N/A
  ------------------------ -------------- ------------ -------------------

(The above statistics are unofficial estimates)

This category of exports continued to show sustained growth in export
earnings in recent years, and this trend continued in 2004. Earnings
from export of fish grew from US\$53.9 million in 2003 to US\$58.3
million in 2004, an increase of 8.1%, and represented 9.9% of total
exports in 2004, compared to 10.5% in the previous year. Earnings from
fish exports accounted for 8.9% of the Gross Domestic Product (GDP) in
2004, a marginal increase from 2003. Go-Invest estimates that current
investment in the sector is G\$3.46 billion (US\$17.3 million).

### Best Products/Services [**Return to top**](#ch4)

Freshwater Aquaculture, shark products

### Opportunities [**Return to top**](#ch4)

Foreign investors are encouraged to invest in the seafood industry
especially in the freshwater aquaculture industry which is in it infant
stage and slowly expanding. The Guyana Office for Investment can be
contact to ascertain the incentives/concession available to foreign
investors.

### Resources [**Return to top**](#ch4)

Guyana Office for Investment (GO-INVEST)

190 Camp & Church Streets

Georgetown, Guyana

Tel: 225-0658 or 227-0653

E-mail: goinvest@sndp.org.gy

[[]{#ch5 .anchor}Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

# Chapter 5: Trade Regulations and Standards

-   [Import Tariffs](#import-tariffs-return-to-top)

-   [Trade Barriers](#trade-barriers-return-to-top)

-   [Import Requirements and
    Documentation](#import-requirements-and-documentation-return-to-top)

-   [U.S. Export Controls](#u.s.-export-controls-return-to-top)

-   [Temporary Entry](#temporary-entry-return-to-top)

-   [Labeling and Marking
    Requirements](#labeling-and-marking-requirements-return-to-top)

-   [Prohibited and Restricted
    Imports](#prohibited-and-restricted-imports-return-to-top)

-   [Customs Regulations and Contact Information](#twentyfour)

-   [Standards](#standards-return-to-top)

-   [Trade Agreements](#trade-agreements-return-to-top)

-   [Web Resources](#web-resources-return-to-top-1)

## Import Tariffs [**Return to top**](#ch5)

As a member of the Caribbean Community and Common Market (CARICOM),
Guyana has a Common External Tariff (CET) rate that ranges from 5
percent to 20 percent. All duties are *ad valorem*. A tariff rate of 40%
applies only to agricultural products subject to the CET. The World
Trade Organization\'s (WTO) last Trade Policy Review, the latest period
for which comprehensive data are available, found that the simple
average tariff in 2003 was 12.1%. The average tariff for agricultural
products was 21.6%, while the average tariff for non-agricultural
products was 10.3%.

In addition to the tariff levied on imports, most imports are subject to
a consumption tax, which is determined on a product-specific basis. The
consumption tax is levied on the total CIF (Cost, Insurance and Freight)
cost of the goods plus the import duty. In other words, the government
levied taxes on the money that the importer pays to government in
tariffs. To encourage development, the government has exempted certain
capital goods from consumption taxes. The list of exceptions is
available through the local customs brokers or at the U.S. Embassy
Commercial Information Center.

## Trade Barriers [**Return to top**](#ch5)

Guyana maintains about 235 national standards, approximately half of
which have been adapted from international standards. A number of
sanitary and phytosanitary requirements are applied on imports. The
Ministry of Agriculture is responsible for sanitary and phytosanitary
(SPS) measures, as well as the national notification authority under the
WTO SPS Agreement. In accordance with the Food and Drugs Act, the
importation of livestock and other animals, including domestic pets and
plant materials into Guyana, is subject to an import permit from the
Animal Services Division (animals) or the Plant Quarantine Section
(plant materials) of the Ministry of Agriculture. The permit specifies
the conditions that must be met in the exporting country before
importation is allowed into Guyana. A number of animal and vegetable
products are also subject to import licensing

Guyana applies import licensing requirements on a number of products.
The import licensing system is administered by the Ministry of Tourism,
Industry, and Commerce; however, applications for some products may
require the prior clearance of other agencies. For example, approval
must be obtained from the Ministry of Health before importing certain
medical products, while imports of weapons require the approval of the
Commissioner of Police. Licensing is automatic once the necessary
approvals are obtained. The only quantitative restrictions are imposed
under the terms of the P.L.-480 wheat agreement with the United States.

The current list of items subject to import licensing includes some
important products of national industries (e.g., rice and cane sugar),
some of the most significant imports (e.g., petroleum and by-products,
wheat flour, and fertilizers), and other goods for which there are
special considerations of health and safety (e.g. medical drugs,
explosives, and weapons). Licensing also applies to fresh, frozen, and
chilled meat; fruit; toiletries; and aircraft. Tariffs applied on
imports subject to licensing requirements vary considerably

Products under import licensing restriction are not subject to quotas.
Licenses are issued to importers regardless of whether they are
producers of like products; any importer is eligible for a license,
subject to the requirements. The granting of licenses is not dependent
on prior utilization; there is no regulation or restriction regarding
the utilization or non-utilization of licenses. Licenses can be
requested or granted at any period during the year. There are no laid
down criteria based on performance or quotas. There are no bilateral
quotas or export restraint arrangements. Export permits from exporting
countries are not required; similarly, no licenses are issued on
condition that goods should be exported and not sold in the domestic
market. The authorities note that applications for licenses are
processed within two working days. Under certain circumstances, a
license can be granted immediately on request (e.g. for exports of
diamonds where security considerations require a rapid processing of
documentation, or in the case of perishable items). An importer should
have a license prior to the arrival of any of the products covered under
the Third Schedule of the Trade Act. The approved import license, or a
certified copy of it, must be submitted upon actual importation.
Applicants are informed in writing if an application is refused

## Import Requirements and Documentation [**Return to top**](#ch5)

U.S. exporters and potential exporters to Guyana should contact the
Customs and Trade Administration of Guyana to ascertain what are the
import requirements and documentation that are required of them at the
port of entry. Some U.S. exporters utilize the services of U.S and
Guyana Customs Brokers in dealing with the import requirements and
documentation required at the port of entry by the Guyana, Customs and
Trade Administration. Local Customs Brokers are also available to assist
with the preparation of the required documentation.

## U.S. Export Controls [**Return to top**](#ch5)

At present, the U.S. does not maintain any specific export controls with
regard to Guyana.

## Temporary Entry [**Return to top**](#ch5)

Temporary entry of goods into Guyana is permissible; this would require
the importer making advance notification (a detailed list must be
provided) to the Customs and Trade Administration (CTA), and also the
registration of the goods at the port of entry. The importer is required
to make a bond deposit to the CTA. If the goods are not re-exported the
importer with be required to pay the necessary duties and other charges.
For further information about temporary entry please contact the Customs
and Trade Administration

**Customs Contact Information**

Mr. Lambert Marks

Commissioner

Customs and Trade Administration

Customs House

Main Street

Georgetown, Guyana

Tel: 592-225-9102

592-225-6931-7

Ms. Ingrid Griffith

Deputy Commissioner

Customs and Trade Administration

Customs House

Main Street

Georgetown, Guyana

Tel: 592-225-4698

592-225-4289

592-225-6931-7

## Labeling and Marking Requirements [**Return to top**](#ch5)

Guyana National Bureau of Standards (GNBS) is responsible of the
development of standards and regulations that would ensure an
improvement in quality of life of the people of Guyana. The labeling and
marking requirements are being monitored, based on mandatory standards
for goods (food, consumer products, agriculture, among others) falling
under the purview of the GNBS. U.S. Exporters and potential exporters
are encouraged to contact the GNBS before exporting (goods) to Guyana
about the labeling and marking requirements for specific classes of
goods.

Contact Information on Standards available:

The Technical Standards Information Unit (TSIU)

Guyana National Bureau of Standards,

Flat 15, Sophia Exhibition Complex,

Sophia,

Greater Georgetown

Guyana

Tel: 592-225-6226

592-225-9013

592-227-7072

592-227-7890

Fax: 592-225-7455

Email: <gnbs@sdnp.org.gy>

## Prohibited and Restricted Imports [**Return to top**](#ch5)

[]{#twentyfour .anchor}The importation of counterfeit or substandard
coins is prohibited, as is the importation of food unfit for
consumption; indecent articles; infected cattle; and matches containing
white and yellow phosphorus. A number of other products (arms and
ammunition, tobacco, and spirits, etc.) face import restrictions**:**

**Table I**

Prohibited and Restricted Imports

  -----------------------------------------------------------------------
  **Product**                                   **Reason for
                                                restriction**
  --------------------------------------------- -------------------------
  **1. Import prohibitions**                    

  Counterfeit and substandard coins             Public order

  Food, unfit for human consumption             Public health reasons

  Indecent printed articles                     Public morality reasons

  Infected cattle, sheep or other animals, or   To prevent the
  their carcasses, hides, skins, horns, hoofs,  introduction or spread of
  and other parts                               any communicable disease

  Matches containing white and yellow           Technical regulation (due
  phosphorus                                    to health problems)

  **2. Restricted imports**                     

  Arms and ammunition, except with the written  Public safety
  permission of the Commissioner of Police      

  Cocaine, heroin, cannabis, cannabis indica,   Public health
  choras, and preparations thereof, except      
  under licence of the Chief Medical Officer    

  Imitation banknotes                           Public order

  Spirits and wine, unless in aircraft or in    Technical regulation
  ships of 27.3 tonnes burden at least, and in  
  casks or other vessels of 41 litres at least, 
  or in glass or stone bottles packed in cases, 
  or in demijohn, each case of demijohn         
  containing not less than 41 litres            

  Tobacco, cigars, cigarillos or cigarettes,    Technical regulation
  unless in aircraft, or in ships of 90.1 tonne 
  burden at least and in whole and complete     
  packages each containing not less than        
  0.9 kg. net weight (manufacturer excepted)    

  Goods not bearing a trade mark, a name, and   Trade marks legislation
  an indication of origin                       

  Prepared opium                                Public health

  Shaving brushes manufactured in or exported   Technical regulation (due
  from Japan                                    to past cases of lockjaw)

  Fictitious stamps                             Public order

  Tobacco extracts, essence, or concentrates    Public health

  Exotic fish, except with license by the Chief Sanitary reasons (to
  Agricultural Officer                          protect local fish from
                                                imported diseases)

  Cinematographic films, unless Minister        Public order and morality
  responsible for public order and morality,    
  issues to the importer a certificate of       
  importation                                   

  Printed matter considered by the Minister     Public safety and order
  responsible for public safety and order to be 
  prejudicial to the defense of Guyana, public  
  safety or order                               
  -----------------------------------------------------------------------

**Customs Regulations and Contact Information** [Return to top](#ch5)

U.S. exporters and potential exporters should contact the Customs and
Trade Administration as it relates to the customs regulations for the
importation of goods into Guyana.

**Customs Contact Information**

Mr. Lambert Marks

Commissioner

Customs and Trade Administration

Customs House

Main Street

Georgetown, Guyana

Tel: 592-225-9102

592-225-6931-7

Ms. Ingrid Griffith

Deputy Commissioner

Customs and Trade Administration

Customs House

Main Street

Georgetown, Guyana

Tel: 592-225-4698

592-225-4289

592-225-6931-7

## Standards [**Return to top**](#ch5)

-   [Overview](#overview-return-to-top-6)

-   [Standards Organizations](#standards-organizations-return-to-top)

-   [Conformity Assessment](#standardsconformityassessment)

-   [Product Certification](#product-certification-return-to-top)

-   [Accreditation](#accreditation-return-to-top)

-   [Publication of Technical
    Regulations](#publication-of-technical-regulations-return-to-top)

-   [Labeling and Marking](#standardslabelingandmarking)

-   [Contacts](#contacts-return-to-top)

### Overview [**Return to top**](#standards-return-to-top)

Standards are developed for the different sectors of the economy by the
Guyana National Bureau of Standards (GNBS), as mandated by the Standards
Act of 1984 (Cap. 90:16) and its amendment of 1997. These standards are
issued to the relevant regulatory bodies, such as the Food and Drugs
Department and the Environment Protection Agency, among others, for
implementation and enforcement. Standards may also be developed by other
bodies. The GNBS regulates some categories of goods through its
Standards Compliance Programme. Labeling and packaging requirements are
being monitored, based on mandatory standards for goods falling under
the purview of the GNBS.

Under the procedures for the development of standards, a request is
submitted to the GNBS, which will then submit a proposal to the National
Standards Council (NSC) for approval. When the proposal is approved it
is assigned to the relevant technical committee. There are 15 technical
committees and associated subcommittees/working groups to work on
various subject areas. A working draft is prepared by the technical
secretary, which is reviewed and deliberated on by committee members.
The standard then goes for public comments for a period of three months.
Notices are published in newspapers and copies are circulated to
interested stakeholders. The committee reviews any comments received and
prepares a final draft, which is submitted to the NSC for approval. Once
approved, the standard is edited and a GYS number is assigned. It is
then published and made available for sale. If the standard is intended
to be mandatory, a copy is sent to the Minister of Tourism, Industry,
and Commerce for approval by Cabinet. Once approved by Cabinet, it is
published in the *Official Gazette* and the public is informed.

The GNBS is presently helping industries to improve competitiveness by
offering technical assistance in the implementation of the ISO 9001:2000
(quality management systems) and ISO 14001 (environmental management
systems). The bureau is also developing a standard on guidelines for
good management practices for micro and small enterprises

### Standards Organizations [**Return to top**](#standards-return-to-top)

The [Guyana National Bureau of
Standards](http://www.sdnp.org.gy/gnbs/index.html) (GNBS) is the lead
agency charged with development and compliance and product
certification. Under the Standards Compliance Program launched in
November 2005, Bureau of Standards officials, in addition to customs
officers, examine the quality of certain products at the port of entry,
including: all electrical appliances for domestic use, textiles,
garments, footwear, safety matches, tires, gas stoves, PVC pipes, paint
and paint products, cell phones, jewelry, water and electrical meters,
furniture, seat belts, fertilizers, safety helmets, toys and playthings,
Christmas trees and decorative lighting.

The GNBS Engineering/Metrology and Standards Compliance Department
monitors 19 categories of goods imported into Guyana. Monitoring applies
to: domestic electrical appliances, tyres, textiles, garments, footwear,
PVC pipes, scales, weights and measures, paints and paint products,
animal feeds, furniture, gas stoves, cigarettes, safety matches, seat
belts, fluorescent lamp ballasts, measuring tapes and rules,
fertilizers, electricity and water meters, and safety helmets. This has
resulted in the issuance of 14 technical regulations.

#### NIST Notify U.S. Service

> Member countries of the World Trade Organization (WTO) are required
> under the Agreement on Technical Barriers to Trade (TBT Agreement) to
> report to the WTO all proposed technical regulations that could affect
> trade with other Member countries. **Notify U.S.** is a free,
> web-based e-mail subscription service that offers an opportunity to
> review and comment on proposed foreign technical regulations that can
> affect your access to international markets. Register online at
> Internet URL:
> [http://www.nist.gov/notifyus/](http://www.nist.gov/notifyus/%0D)

[[]{#standardsconformityassessment .anchor}**Conformity
Assessment**](http://www.nist.gov/notifyus/%0D) [Return to
top](#standards-return-to-top)

The GNBS does not have any testing facilities, relying instead on
foreign bodies such as the U.S. Food and Drugs Administration and the
Institute of Applied Science and Technology.

### Product Certification [**Return to top**](#standards-return-to-top)

This GNBS provides third party Certification based on conformance to a
particular national standard. This is rewarded by the use of the
**STANDARDS MARK** which signals to the consumer that this product is of
quality and authenticated by the Bureau. Imported commodities should
bear a national or international certification mark from a regulatory
body in the country of origin or a Certificate of Quality Compliance
from an independent certification body.

### Accreditation [**Return to top**](#standards-return-to-top)

There are currently no accredited laboratories in Guyana.

### Publication of Technical Regulations [**Return to top**](#standards-return-to-top)

[]{#standardslabelingandmarking .anchor}Once approved by the National
Standards Council, calls for public comment on draft standards are
published in newspapers and copies are circulated to interested
stakeholders. The final draft is then forwarded to the NSC for final
approval. It is then published and made available for sale. If the
standard is intended to be mandatory, a copy is sent to the Minister of
Tourism, Industry, and Commerce for approval by Cabinet. Once approved
by Cabinet, it is published in the *Official Gazette* and the public is
informed.

**Labeling and Marking** [Return to top](#standards-return-to-top)

A commodity imported should comply with the appropriate Guyana National
Bureau of Standards and also the **Standard Specification for Labeling
of Commodities, GYS 10: 1994** and **GYS 9:2 1994**. Standards are
available at the GNBS.

### Contacts [**Return to top**](#standards-return-to-top)

Dr. Chatterpaul Ramcharran,

Executive Director,

Guyana National Bureau of Standards,

Flat 15, Sophia Exhibition Complex,

Sophia,

Greater Georgetown

Guyana

Tel: 592-225-6226

592-225-9013

592-227-7072

592-227-7890

Fax: 592-225-7455

Email: <gnbs@sdnp.org.gy>

## Trade Agreements [**Return to top**](#ch5)

Guyana is a member of CARICOM. Goods traded with fellow CARICOM
countries are duty free as long as they satisfy origin rules criteria
set out in the Treaty of Chaguaramas. Guyana is a signatory to the
Summit of the Americas and is participating in talks regarding a Free
Trade Area of the Americas. Guyana also enjoys preferential market
access to the United States under the Caribbean Basin Initiative, to
Canada under CaribCan, and to the European Union under a partnership
agreement that provides continuation of Lome IV trade provisions until
2007.

Guyana is a signatory to a number of Bilateral Trade Agreements (e.g.
Guyana -- Brazil Partial Scope Agreement, Guyana -- China Trade
Agreement). These agreements seek to enhance trade with traditional and
non--traditional markets.

Guyana is also a signatory to a number of Regional Trade Agreements
(e.g. CARICOM--Colombia Trade, Economic and Technical Cooperation
Agreement, CARICOM--Dominican Free Trade Agreement, CARICOM--Venezuela
Trade, Economic and Technical Cooperation Agreement, CARICOM--Costa Rica
Free Trade Agreement and also a CARICOM--Cuba Free Trade Agreement).
These agreements seek to expand trade and economic relations with third
States.

## Web Resources [**Return to top**](#ch5)

Guyana National Bureau of Standards

<http://www.gnbs.info/index.htm>

World Trade Organization (WTO) Trade Policy Review (October 2003)

Available at [http://docsonline.wto.org](http://docsonline.wto.org/)

[Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

[[]{#ch6 .anchor}Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

# Chapter 6: Investment Climate

-   [Openness to Foreign
    Investment](#openness-to-foreign-investment-return-to-top)

-   [Conversion and Transfer Policies](#thirtytwo)

-   [Expropriation and Compensation](#thirtythree)

-   [Dispute Settlement](#thirtyfour)

-   [Performance Requirements and
    Incentives](#performance-requirements-and-incentives-return-to-top)

-   [Right to Private Ownership and
    Establishment](#right-to-private-ownership-and-establishment-return-to-top)

-   [Protection of Property Rights](#forty)

-   [Transparency of Regulatory
    System](#transparency-of-regulatory-system-return-to-top)

-   [Efficient Capital Markets and Portfolio Investment](#fortytwo)

-   [Political Violence](#fortythree)

-   [Corruption](#fortyfour)

-   [Bilateral Investment Agreements](#fortyfive)

-   [OPIC and Other Investment Insurance
    Programs](#opic-and-other-investment-insurance-programs-return-to-top)

-   [Labor](#labor-return-to-top)

-   [Foreign-Trade Zones/Free
    Ports](#foreign-trade-zonesfree-ports-return-to-top)

-   [Foreign Direct Investment
    Statistics](#foreign-direct-investment-statistics-return-to-top)

-   [Web Resources](#web-resources-return-to-top-2)

## Openness to Foreign Investment [**Return to top**](#ch6)

[]{#thirtytwo .anchor}The Government of Guyana encourages foreign direct
investment in almost all sectors. Billed as a "first stop shop" for
investors, the Guyana Office for Investment (GO-INVEST) is charged with
leading government efforts to attract foreign and domestic investment.
GO-INVEST focuses primarily on the agroprocessing, tourism,
manufacturing, information technology, fishing, and wood processing
sectors. Potential investors should note that GO-INVEST serves as the
first in a long line of bureaucratic hurdles required to obtain the
permits and tax concessions necessary to do business in Guyana.
Potential investors face separate bureaucratic procedures at ministries
throughout the government to obtain the desired permits and concessions.
Major foreign investments receive intense political attention in an
economy still dominated by the state. The government has enacted new
laws and amended existing ones to encourage foreign direct investment,
with mixed levels of success.

An annual survey of business confidence released in January 2006
revealed less confidence in the business outlook for 2006 compared to
the previous year. Of the 42 respondents, 12 were planning to increase
the scale of operations in 2006, two were planning to downsize, and 26
planned no change. Among the issues identified as having the most
expected impact on business operations in 2006 were fuel prices,
political stability, consumer spending, electricity supply and rates,
and exchange rates.

The National Assembly passed the Investment Act in 2004, designed to
stimulate socio-economic development and to attract and facilitate
foreign investment. Other important laws pertaining to investment
include the Income Tax Act, The Customs Act, the Procurement Act of
2003, the Companies Act of 1991, the Securities Act of 1998, the Small
Business Act, and the Consumption Tax Act. However, several outstanding
actions are still required for much of this legislation, such as the
Procurement Act, to be effectively implemented.

Although the judicial system is responsible for upholding the sanctity
of contracts, it does not have the capacity to uphold its legal mandate.
Apparent corrupt practices, coupled with long delays in the
administration of justice make the courts an undesirable and largely
ineffective way to settle investment or contractual disputes,
particularly for foreign investors unfamiliar with Guyana's political
scene.

Foreign ownership of companies is permitted and welcomed. There is no
mandatory screening of foreign investment. However, the government
screens most investments to determine which businesses are eligible for
special tax treatment, access to licenses, approval and procurement. In
spite of recent moves to remove discretionary power from the various
ministries, Ministers still retain significant authority to determine
how relevant laws, such as the Investment Act, Small Business Act and
Procurement Act, are interpreted.

In general, foreign investors receive the same treatment as local
investors in Guyana. One exception is the special approval required for
local financing. Foreign borrowers applying for a loan of over
US\$10,638 (G\$2 million) must request permission from the Minister of
Finance to take out the loan locally. This requirement reflects Guyana's
preference for foreign investors to bring capital into the country. In
most cases, foreign investors seek credit abroad to avoid Guyana's high
interest rates. Another exception in the mining sector restricts
ownership of small and medium scale mining property titles to Guyanese
ownership. However, foreigners may enter into joint-venture arrangements
whereby the two parties agree to jointly develop a mining property.
There are no restrictions on the percentage of the investment shouldered
by the foreign investor. These arrangements are strictly by private
contract. Foreign investors that have entered into these arrangements
report high levels of risk and have complained that Guyana's sluggish
legal system rarely settles disputes in a timely or satisfactory manner.
One investor who entered into a private joint-venture mining contract
reported that the mining property was sold by his partner after the
investment had been made and without his prior knowledge or consent.
Despite some success in the courts, he was unable to fully recover the
money he had originally invested.

The government has made progress in recent years with privatization
initiatives. Of the 18 government entities originally targeted for
privatization, 16 have been privatized. The Aroaima Mining Company (AMC)
and Guyana Power & Light (GPL) remain the two major exceptions. RUSAL,
the Russian aluminum giant, assumed management control of AMC in 2004 as
part of a joint agreement with the Government of Guyana to revitalize
the bauxite industry. The government announced that AMC is slated for
privatization in March 2006, with RUSAL reportedly paying US\$20
million. In 1999, the government entered into a joint agreement with
Americas & Caribbean Power Limited (ACP) to privatize GPL, with each
party holding 50% of the company's shares. Four years later, ACP sold
its shares back to the Government for \$1 and withdrew from the deal.
The government is now seeking a US\$30 million investment from local
investors for the re-privatization of the utility, though it has not
identified any potential suitors. Foreign investors have equal access to
privatization opportunities. For some larger operations, foreign
investment is openly preferred.

Most large-scale investments in Guyana's infrastructure are government
projects financed by international lending institutions, with the
Inter-American Development Bank (IDB) as the largest donor. U.S. firms
are generally given equal access to these projects, though many are too
small to interest U.S. bidders.

## Conversion and Transfer Policies [**Return to top**](#ch6)

[]{#thirtythree .anchor}The Guyana dollar is fully convertible. There
are no limits on inflows or repatriation of funds, although there are
spot shortages of foreign currency. The exchange rate is US\$1 to
G\$199.25 (March 2006). There is no limit to the acquisition of foreign
currency, although the government limits the percentage that a number of
state-owned firms may keep for their own purchases. The government
recently eased restrictions on the establishment of foreign currency
bank accounts in Guyana, a step that has significantly simplified the
process of moving money. Funds can now be wired in and out of the
country electronically without having to go through cumbersome exchange
procedures.

In practice, many large foreign investors in Guyana use subsidiaries
outside Guyana to handle earnings generated by the export of primary
products, including timber, gold, and bauxite. Those companies then
advance funds to their local entities to cover operating costs.

The exchange rate is commercially determined according to market supply
and demand using telegraphic transfers for the three largest commercial
banks. Political uncertainty and poor economic performance by the
Guyanese economy since 1999 have eroded consumer and investor
confidence. The government has intervened in support of the Guyana
dollar with some success. The government announced that it will continue
to intervene in defense of the Guyana dollar and its international
reserves.

## Expropriation and Compensation [**Return to top**](#ch6)

[]{#thirtyfour .anchor}On August 16, 2001 the National Assembly approved
the Acquisition of Lands for Public Purposes (Amendment) Bill 2001. This
Bill cleared the way for the government to specifically acquire a
private parcel of land at a price the owner contended was less than fair
market value.

## Dispute Settlement [**Return to top**](#ch6)

Guyana is a signatory to the Convention on the Settlement of Investment
Disputes between States and Nationals of Other States. International
arbitration decisions are enforceable under the Arbitration Act of 1931.
Guyana is also a member of the International Center for the Settlement
of Investment Disputes (ICSID).

There have been several high profile investment disputes in recent years
involving U.S. and other investors in Guyana. Most disputes focus on
special tax treatment, access to licenses, and approvals necessary to
conduct business in Guyana.

## Performance Requirements and Incentives [**Return to top**](#ch6)

While there is no set policy regarding performance requirements, they
are often written into contracts with foreign investors. Some contracts
require a certain minimum level of investment. Investors are not
required to source locally. They do not have to export a certain
percentage of output. Foreign exchange is not rationed in proportion to
exports. There are no national ownership or technology transfer
requirements.

The *Status of Aliens Act allows* a non-resident of Guyana to acquire
and dispose of assets, and moveable and immoveable property in the same
manner as a citizen of Guyana. The government treats domestic and
foreign investors alike with regard to investment incentives. There are
incentives offered to all investors equally and incentives available
based on specific criteria such as location of an investment or
investment in specific government-targeted sectors.

The Fiscal Enactments (Amendment) (No. 2) Bill of 2003 allows the
Minister of Finance to grant exemptions from Corporate Taxes for a
period of five years to an investor if the activity demonstrably creates
new employment in Region 1: Barima/Waini, Region 8: Cuyuni-Mazaruni,
Region 9: Upper Takatu-Upper Essequibo and Region 10: Upper
Demerara-Upper Berbice. The act allows for exemptions of corporate taxes
if the new economic activity falls under the following categories:
non-traditional agro processing (excludes sugar refinery, rice milling
and chicken farming); tourist hotels or eco-tourist hotels; information
and communications technology (excluding retail and distribution);
petroleum exploration, extraction, or refining and; mineral exploration,
extraction, or refining. In the latter three activities defined, the
Minister may grant exemptions for a period up to ten years. In spite of
outlined provisions for tax relief, the Minister maintains final
discretion over which investors receive corporate tax exemptions.

Other incentives available to investors include affordable leases for
land in industrial estates. Though promoted by GO-INVEST, the
application for the land is done through the Minister of Tourism,
Industry and Commerce. The Ministry of Tourism continues to accept and
encourage the submission of lease applications for industrial estates,
though there are no industrial estates available for lease. The
government advertised two industrial estates near to the capital city of
Georgetown as being available for lease. However, the government
attempts to repossess these properties are ongoing. The land was
previously leased to investors who, according to the government, have
not developed the land or engaged it in any productive process.
Officials from the Ministry indicated that the process for repossession
is not straight forward. To apply, potential investors are requested to
submit an application form and a business proposal to the Ministry of
Tourism. Though not required, GO-INVEST can make a recommendation to the
Ministry of Tourism on the investor's behalf. The application and
business proposal is then reviewed by Ministry personnel who determine
whether the investor qualifies for the land. Qualifying criteria include
the export component of the business and employment opportunities
created. It is difficult to predict when and if the government will be
successful with repossessing lands since these matters tend to be tied
up with extensive Court decisions and appeals.

-Waivers of the customs duty and the high consumption taxes on plant,
machinery and equipment are granted based on submissions made to the
Commissioner General of the GRA.

-The Income Tax (In Aid of Industry) Act provides for accelerated
depreciation of plant and equipment on applicable trades outlined in the
act; export tax allowances for manufacturing or processing of
non-traditional products exported to countries outside of the Caribbean
Community; and research and development tax allowances.

The approval authority for duty and consumption tax exemptions on plant,
equipment, machinery and spare parts lies with the Commissioner General
of the GRA. Investors are expected (though not required) to submit
business proposals to GO-INVEST that outline the proposed project, the
value of the investment, and employment to be generated from the
economic activity. GO-INVEST reviews the proposal and makes a
recommendation to the GRA. GRA grants approval in accordance with the
Customs Duties (Amendment) (No. 2) Order of 2003. Each project is
reviewed on a case-by-case basis and recommendations are made
accordingly. The GRA determines whether imported materials are being
imported for the reasons stated by the investor and whether those
materials are eligible for tax relief under the law.

**Table II**

**Incentives available to branches of industry**

+---------+---+----------------------------------------------------------+
| > **S   | > |                                                          |
| ector** |   |                                                          |
|         | * |                                                          |
|         | * |                                                          |
|         | A |                                                          |
|         | v |                                                          |
|         | a |                                                          |
|         | i |                                                          |
|         | l |                                                          |
|         | a |                                                          |
|         | b |                                                          |
|         | l |                                                          |
|         | e |                                                          |
|         | > |                                                          |
|         |   |                                                          |
|         | i |                                                          |
|         | n |                                                          |
|         | c |                                                          |
|         | e |                                                          |
|         | n |                                                          |
|         | t |                                                          |
|         | i |                                                          |
|         | v |                                                          |
|         | e |                                                          |
|         | s |                                                          |
|         | * |                                                          |
|         | * |                                                          |
+=========+===+==========================================================+
| >       |   | -   Tax holidays for pioneering activities               |
| General |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Zero-rate on custom duty and consumption tax for     |
|         |   |     most items of plant, machinery, and equipment        |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Zero-rate on custom duty and consumption tax on raw  |
|         |   |     materials for registered companies                   |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Unlimited loss carry over from previous years        |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Accelerated depreciation on plant and equipment      |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Export allowance for non-traditional exports outside |
|         |   |     of CARICOM, granted as a percentage of export        |
|         |   |     profits,\                                            |
|         |   |     varying between 25 and 75%                           |
+---------+---+----------------------------------------------------------+
| >       |   | -   Waivers of duty and consumption tax on a wide range  |
|  Agri-b |   |     of machinery and equipment for land preparation and\ |
| usiness |   |     cultivation                                          |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Duty and consumption tax waivers on a wide range of  |
|         |   |     agro-processing equipment                            |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Duty-free importation on a wide range of             |
|         |   |     agro-chemicals                                       |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Allowances for expenditure incurred in development   |
|         |   |     and cultivation purposes                             |
+---------+---+----------------------------------------------------------+
| >       |   | -   Duty and consumption tax rate of zero on a wide      |
|  Manufa |   |     range of process machinery and equipment, including  |
| cturing |   |     packaging equipment                                  |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Exemption on a wide range of auxiliary plant         |
|         |   |     equipment such as boilers and fork lifts             |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Exemption from duty and consumption tax on vehicles  |
|         |   |     imported exclusively for the business                |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Exemption from import duty and consumption tax on    |
|         |   |     packaging materials for manufacturers registered     |
|         |   |     under the\                                           |
|         |   |     Consumption Tax Act                                  |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Duty and consumption tax rate of zero on most raw    |
|         |   |     materials for companies registered under the         |
|         |   |     Consumption Tax Act                                  |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Waiver of 30% consumption tax on power generators    |
+---------+---+----------------------------------------------------------+
| >       |   | -   Companies are eligible once every five years for a   |
| Tourism |   |     package of incentives. This comprises mainly duty    |
|         |   |     and consumption tax waivers on basic furnishing,     |
|         |   |     plant equipment, and building materials. Concessions |
|         |   |     are limited to 25% of the value of the investment.   |
|         |   |     Any of the otherwise eligible items that are         |
|         |   |     manufactured locally and available will not qualify  |
|         |   |     for the exemption                                    |
+---------+---+----------------------------------------------------------+
| > Fi    |   | -   Exemption from import duty on trawlers, fishing      |
| sheries |   |     vessels, and a wide range of fishing equipment       |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Exemption from duty and consumption tax on fish and  |
|         |   |     seafood processing equipment, blast freezers and     |
|         |   |     other\                                               |
|         |   |     refrigeration equipment used in fish and seafood     |
|         |   |     processing, packaging material and other inputs      |
|         |   |     required for processing, and refrigerated vehicles   |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Waiver of 30 % consumption tax on power generators   |
+---------+---+----------------------------------------------------------+
| > F     |   | -   Exemption from duty and consumption tax on equipment |
| orestry |   |     used in logging and land development                 |
|         |   |                                                          |
|         |   | -   Duty and tax exemptions on outboard engines up to    |
|         |   |     75hp; over 75hp, 5% duty                             |
|         |   |                                                          |
|         |   | -   Waiver of 30% consumption tax on power generators    |
+---------+---+----------------------------------------------------------+
| >       |   | -   Exemption from duty and consumption tax on a range   |
|  Mining |   |     of mining equipment, equipment used for land         |
|         |   |     clearing, and certain outboard engines               |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Preferential consumption tax rate of 10% on aviation |
|         |   |     fuel                                                 |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   For large-scale mining, waiver of duty and           |
|         |   |     consumption tax on fuel, machinery, and equipment    |
|         |   |     spares, and on\                                      |
|         |   |     vehicles imported exclusively for the business       |
+---------+---+----------------------------------------------------------+
| >       |   | -   Duty and tax exemption on selected items of building |
| Housing |   |     materials                                            |
+---------+---+----------------------------------------------------------+
| > A     |   | -   Preferential consumption tax rate of 10%             |
| viation |   |                                                          |
+---------+---+----------------------------------------------------------+
| > Info  |   | -   Waivers of duty and consumption tax on machinery and |
| rmatics |   |     equipment                                            |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Tax holidays                                         |
+---------+---+----------------------------------------------------------+
| > R     |   | -   In addition to the incentives available elsewhere in |
| egional |   |     Guyana, projects in Linden, Ituni, and               |
|         |   |                                                          |
|         |   | Kwakwani are eligible for:                               |
|         |   |                                                          |
|         |   | -   Waiver of duty and consumption tax on all imported   |
|         |   |     plant, machinery and equipment                       |
|         |   |                                                          |
|         |   | -   Waiver of duty and consumption tax on all imported   |
|         |   |     spares                                               |
|         |   |                                                          |
|         |   | ```{=html}                                               |
|         |   | <!-- -->                                                 |
|         |   | ```                                                      |
|         |   | -   Waiver of duty, consumption tax, and purchase tax on |
|         |   |     all vehicles imported exclusively for the business   |
|         |   |     manufacturing and agricultural entities only         |
+---------+---+----------------------------------------------------------+

*Source:* WTO Secretariat, adapted from Guyana Office for Investment,
*Guyana: Quick Reference Guide to Investment*.

Similarly, an export allowance is granted for non-traditional exports
outside of CARICOM. An export allowance is granted for non-traditional
exports outside of CARICOM. For purposes of this allowance,
\"traditional\" products that are ineligible for the allowance are
defined to include not only rice, sugar, and bauxite, but also gold,
diamonds, timber, petroleum, lumber, shrimp, molasses, and rum. The
allowance is granted as a percentage of export profits, varying between
25% and 75%. This implies a reduction in the level of profits that are
taxable, such that an export allowance of 35% on a G\$100 profit earned
in the exportation of non-traditional goods will be taxed as if the
profit were G\$65. The export allowance is calibrated according to the
share of sales that are exported. In order to qualify, at least 10% of
sales must be exported. For an enterprise exporting 10% to 21% of sales,
the export allowance is set at 25%. This rises to 35% for those
exporting more than 21% but not more than 31%, and proceeds thereafter
in further 10% increments. The highest level of allowance is granted for
enterprises exporting more than 61% of sales, which receive an export
allowance of 75%. In mid 2003, discussions were taking place with
respect to the possible creation of free-trade zones.

The In-Aid-of-Industry-Act (Cap. 81:02) provides for the acceleration of
depreciation on specific capital expenditures to specific industries.
The rates depend on the nature of the expenditure incurred. On plant and
machinery, for example, an initial allowance of 40% is provided,
followed by an annual allowance of 20%. This means that such
expenditures are fully depreciated by the end of the third year after
the initial expenditure. Under the Industries Aid and Encouragement Act
(Cap. 95:01), the Minister of Finance has the authority to grant a
license to import prescribed items duty-free for the purpose of
establishing a new industry or developing an existing one. The license
may be valid for up to five years (ten for mining), and applies for the
importation of reconditioned or rehabilitated machinery, plant, and
appliances, excluding replacements. The items listed as exempt under the
Act include: machinery and appliances; launches, tugs, barges, and
pontoons; trucks, lorries, and wagons for transporting materials
exclusively within the curtilage of the factory, mill or mine; building
materials for the construction of premises to be used in the operation;
building materials for the construction of store houses for items
imported under the Act; building materials for tourist hotels of not
less than 30 beds (if in municipal area) or 20 beds (if outside a
municipal area), and approved furniture; and building materials for the
construction of employee housing and township services, where justified.

Guyana also offers duty-free imports and tax holidays to investors on
request. In the case of duty-free imports, the process begins with a
letter to the Secretary to the Treasury. The applicant must attach a
pro-forma invoice for the items to be imported, indication of the end
market, expected sales price, and calculation of the value added in
Guyana. A key factor in the determination of duty-free status and
consumption tax waiver is the creation of value added. The authorities
note that blanket approvals are not given, but that each import
consignment is reviewed individually. When granted, the duty and
consumption tax is often waived completely or lowered, based on the
industry and item. The approval process can take some time; however, the
Office of the Secretary to the Treasury has a target of a seven-day
turnaround.

Tax holidays must be approved by the President and, as a result, the
approval process is longer. The authorities note that tax holidays are
less likely to be granted than duty-free status or a consumption tax
waiver. Tax holidays generally range up to ten years but may be longer,
depending on the nature of the business. Value added and the nature of
the business are two key considerations in extending a tax holiday, as
well as the impact on government revenue.

## Right to Private Ownership and Establishment [**Return to top**](#ch6)

[]{#forty .anchor}Foreign and domestic firms have the right to establish
and own business enterprises and engage in all forms of remunerative
activity. However, in some cases, licenses are required. Private
entities may freely acquire and dispose of interests in business
enterprises, although some newly privatized entities have limits on the
number of shares that may be acquired by any one individual or entity
(domestic or foreign). Similarly, the articles of association of some
firms prohibit the issuance of more than a certain number of share
transfer forms to any one individual or company in an effort to prevent
attempts to gain control of such companies in the secondary market. In
theory, the government can limit competition with state-owned companies
by denying private firms the required licenses to operate. Licenses are
granted primarily in the mining, telecommunications, forestry, banking,
tourism and environmental sectors. Investors should be aware that
getting all the licenses required to operate in Guyana can be a
time-consuming task. According to the GO-INVEST Investor's Roadmap, the
estimated processing time to obtain the approvals to lease state or
government lands may take one year, though some investors report much
longer delays. To register a patent or trademark can take approximately
six months. The right of foreigners to own property or land in Guyana is
specifically protected under the Constitution.

## Protection of Property Rights [**Return to top**](#ch6)

Guyana adopted British law on patents and copyrights upon independence.
This outdated legislation currently is being revised to conform to
global norms. For instance, Guyana passed the Geographic Indication Bill
in July 2005, giving protection to local products that are uniquely
Guyanese in origin. Guyana joined the World Intellectual Property
Organization (WIPO) and acceded to the Bern and Paris Conventions in
late 1994. WIPO officials visited Guyana in early 1995 and conducted a
seminar on intellectual property rights. At present, there is no
enforcement mechanism to protect intellectual property rights. Patent
and trademark infringement is common. Local television stations pirate
and re-broadcast TV satellite signals with impunity. Book piracy is also
rampant, especially foreign textbooks; some estimates say illegally
copied textbooks account for nearly one-third of local sales. Guyana has
not ratified an intellectual property rights agreement with the U.S.
Trade Related Intellectual Property Rights (TRIPS) draft legislation was
prepared, but has apparently been shelved.

Guyana notified its intellectual property rights legislation to the WTO
in September 2002. One of the laws, the Copyright Bill, is still under
consideration by the National Assembly (mid 2003). In addition to
enacting a new copyright law, Guyana is also seeking to improve its
intellectual property enforcement through a review of the current legal
framework. These efforts have been promoted through technical assistance
from the World Intellectual Property Organization (WIPO), the
Inter-American Development Bank, and the Commonwealth.

Guyana is in the process of updating its legislation on intellectual
property rights to comply with the provisions of the TRIPS Agreement. A
draft Copyright Bill was formulated in 1999, with technical assistance
from WIPO. The provisions of the Bill are inspired by the main
international agreements affecting copyright, including the copyright
section of the TRIPS Agreement. The drafting process of a new Industrial
Property Bill has not yet been completed.

The Deeds Registry, under the Ministry of Legal Affairs, has direct
responsibility for the implementation of Guyana\'s intellectual property
legislation. The Registry is responsible for processing applications, as
well as other administrative works related to intellectual property
protection. The authorities note that Guyana is currently working to
modernize the technical and administrative infrastructure of the Deeds
Registry and upgrade the services it provides in its offices in
Georgetown and New Amsterdam. The Government, with financing and
technical support from the Multilateral Investment Fund (MIF) of the
Inter-American Development Bank (IADB), initiated in 2000 a project to
strengthen the system of intellectual property rights, which includes a
review of the current legal framework, and an institutional
strengthening of the Deeds Registry. Guyana is also benefiting from a
regional project for the implementation of WTO commitments in the
Caribbean Community (CARICOM), with technical assistance from the
Inter-American Development Bank (IADB).

The different laws currently governing intellectual property contain
provisions for civil remedies to be applied in the enforcement of
intellectual property protection. Civil remedies available to
rights-holders include damages, injunction, and accounts. There is
currently no legislation authorizing judges to issue cease-and-desist
orders in case of infringement of intellectual property rights, nor to
order the payment of the right-holder\'s expenses by the infringer nor
to indemnify a defendant in the event of abuse by the plaintiff. The
draft Copyright Bill authorizes judges to order search and seizure of
infringing goods; it also introduces criminal liability and penalties,
and creates a Copyright Tribunal. No information is available with
respect to border enforcement for trade mark counterfeiting and
copyright piracy.

## Transparency of Regulatory System [**Return to top**](#ch6)

[]{#fortytwo .anchor}Guyana has no anti-trust legislation, though a
Competition and Fair Trading was tabled in Parliament in December. The
Bill includes provisions against bid-rigging, misleading advertisements
and price fixing and would establish a Competition Commission with the
authority to review anti-competitive business practices. Historical
factors, Guyana\'s small population, and economies of scale have led
many sectors to be dominated by one or two firms. Capital markets are
still evolving and the allocation of investment takes place without a
well-organized market. Bureaucratic procedures are cumbersome. Investors
often receive conflicting messages from various officials and have
difficulty determining where the authority for decision-making lies. In
the current absence of adequate legislation, much decision-making is
centralized. An extraordinary number of issues are resolved in Cabinet
or in the Office of the President, a process that is not open to public
scrutiny and which often results in long delays. Attempts to reform
Guyana's many bureaucratic procedures have not succeeded in limiting red
tape.

## Efficient Capital Markets and Portfolio Investment [**Return to top**](#ch6)

[]{#fortythree .anchor}Guyana\'s banking system is still not fully
developed. Inefficiencies and delays periodically plague the foreign
currency exchange market. Businesses report that currency shortages can
result in significant delays in converting Guyana dollars to U.S.
dollars at some banks. Because Guyana has yet to develop an effective
inter-bank trading system, some banks may be short of foreign exchange
while others have currency available.

In November 2004, the Financial Institutions Act was passed, giving the
Central Bank the power to take temporary control of financial
institutions in trouble. This effectively gives the bank greater
responsibility for licensed financial institutions. Previously, the
Central Bank had been criticized for not taking a more proactive role in
helping one local bank to remedy its poor financial situation. As a
result, the institution went into receivership and many small depositors
were unable to recover their savings.

The cost of capital in Guyana is not attractive. Interest rates on
capital loans range from 10% to 19.75%. The Minister of Finance must
give permission for a foreign investor to borrow over US\$10,638 (G\$2
million) in Guyana. The government sells treasury bills at auction to
finance the public debt, and other government-controlled rates move with
the treasury bill rate. Private attempts at bond financing have not been
successful. One large Guyanese company offered a bond issue in early
1995 in an attempt to raise US\$10 million. The issue was not successful
and no subsequent large bond offers have been made.

The banking system in Guyana is liquid. Local bank statements reveal
that deposits continue to increase even as loans continue to decrease; a
trend that appears to indicate the existence of a large underground
economy. Some local analysts suspect that the underground economic
activity could account for as much as 50% of Guyana's total economic
activity. Eager to lend money, but skeptical of Guyana's legal system,
banks claim that they are unable to find suitable local candidates for
loans.

Although large and well-established companies sometimes use equity
financing, the government encourages companies to finance new operations
by offering shares on Guyana's stock market. In 2003 The Guyana
Association of Securities Companies and Intermediaries Inc., (GASCI) a
self-regulating organization, was registered to operate the Guyana Stock
Exchange. Its members, the stockbrokers who compete against each other
in share trading, own GASCI. GASCI relies on trades to support the
exchange\'s operations. However, the small volumes traded have been
insufficient to meet organizational expenses. Consequently, the
Association has struggled to maintain adequate staffing levels. The
Guyana Security Council (GSC), the regulatory body for the Exchange, has
been the target of two high profile lawsuits by two of the largest local
conglomerates over disclosure issues. The GSC has also struggled to
garner the support of listed firms that are unwilling to disclose
relevant information. Individual investors generally prefer to utilize
the banking sector to finance investments, although one Canadian company
reported that it was able to successfully finance its operations using
the stock market in late 2004.

## Political Violence [**Return to top**](#ch6)

[]{#fortyfour .anchor}The last three elections, in 1992, 1997 and 2001,
saw politically motivated violence leading up to and following the
election. National and regional elections are due by August 2006, and
some commentators fear violence surrounding the elections may be worse
than previous years.

Apart from election-related violence, crime is a major problem in
Guyana. Four Americans were murdered in three separate incidents in
2005. A spate of high profile robberies has prompted private sector
interests to call on the Government of Guyana to increase its efforts to
stem the crime problem. Most business owners resort to private security
protection for both business and home.

## Corruption [**Return to top**](#ch6)

[]{#fortyfive .anchor}Despite the paucity of documented corruption,
allegations of corruption are common. Transparency International\'s 2005
*Corruption Perceptions Index* ranked Guyana 117 of 158 countries
surveyed, assigning the country a score of 2.5 (with 10 being least
corrupt and 1 being most corrupt). Although the government acted in 1998
to address this problem with legislation that requires public officials
to disclose their assets to an Integrity Commission prior to assuming
office, its implementation has been slow and ineffective. The Integrity
Commission has not been constituted as a result of disagreement between
the government and the main political opposition party on the names of
members to sit on the Commission.

The Procurement Act 2003 was passed in Parliament to provide for the
regulation of government procurement of goods, services and the
execution of works to promote competition among suppliers and
contractors and to promote fairness and transparency in the procurement
process. The Act has come under fire by critics because it grants the
Minister of Finance the power to unilaterally appoint a National Board,
responsible for the National Procurement and Tender Administration that
exercises jurisdiction over tenders.

Offering or receiving a bribe is a criminal offense in Guyana punishable
by incarceration. The law is not applied extraterritorially. The
government has periodically prosecuted officials for corruption with
mixed success.

## Bilateral Investment Agreements [**Return to top**](#ch6)

Guyana has not signed a Bilateral Investment Treaty with the United
States. Negotiations began in 1993, but broke down in 1995 due to
disagreements on formal investment rules. There have been no continuing
negotiations. Guyana has similar treaties with Germany, the United
Kingdom, and, most recently, Switzerland. Guyana has double taxation
treaties with Canada, the United Kingdom, and CARICOM countries.

## OPIC and Other Investment Insurance Programs [**Return to top**](#ch6)

In July 2000, OPIC renewed its support for US investors in Guyana
following the settlement of a long-standing dispute between an OPIC
client, Green Mining, Inc., and Guyana. OPIC support for U.S.
investments in Guyana had been withheld since mid-1992, and its
restoration was linked to the settlement that was reached with Green
Mining, Inc. This settlement marked the resolution of all matters
pending between Green Mining and the Government of Guyana. The EXIM Bank
resumed limited coverage in Guyana, offering insurance and short-term
loans for the private sector at the beginning of 1994.

## Labor [**Return to top**](#ch6)

According to the 2002 Census, Guyana's labor force comprises
approximately 484,000 people with skills encompassing a vast range of
disciplines in the fields of manufacturing, agriculture, electronics,
commerce, management, and other professional practices. Education and
skill development are provided in primary, secondary, and technical
schools as well in the university and privately owned institutions of
learning. Individual companies mount various programs to develop human
resources specific to their needs. Parliament passed the Trade Union
Recognition Bill in 1997. All businesses operating in Guyana must
recognize and collectively bargain with the trade union selected by a
majority of its workers. Guyana adheres to the International Labor
Organization (ILO) Convention protecting worker rights.

Emigration, particularly of skilled labor, poses a serious problem to
employers throughout Guyana. An International Monetary Fund study in
late 2005 revealed that 86% of college-educated Guyanese have left the
country. Large private sector companies report a turnover of about 20%
to 25% of their administrative workforce, and extreme difficulty is
recruiting and retaining qualified employees. Skilled workers migrate to
the United States, Canada, the Caribbean, and Europe. Unemployment and
underemployment of the unskilled element of the population also plague
Guyana's economy.

## Foreign-Trade Zones/Free Ports [**Return to top**](#ch6)

There are currently no free trade zones in Guyana although many
proposals are under consideration and interest remains high.

The Government has been promoting the establishment of industrial
estates in order to facilitate industrial development. Two are in
operation: the Coldingen Industrial Estate, situated on the east coast
of Demerara, opened in 1997, and the Eccles Industrial Estate, opened in
2000; three more are in development at Lethem, New Amsterdam, and
Belvedere. Activities in industrial estates enjoy the same benefit as
other manufacturers by being allowed to import their raw materials
duty-free. There is no requirement for any part of their production to
be exported nor limit to the amount that may be sold on the local
market. The development and administration of industrial estates falls
under the responsibility of the Ministry of Tourism, Industry, and
Commerce. In practice, all industrial estates in Guyana are held by the
National Industry and Commercial Investment Ltd (NICIL), and are
operated and monitored by the Ministry. The authorities noted that the
activities on these industrial estates will benefit from the advantages
of free zones when these come on-stream. The Government is making
efforts to study the success of free zones in neighboring states, with a
view to adapting this concept as a mechanism for promoting manufacturing
and agric-processing; the authorities expect that free zones will
encourage the industrial estates to expand these activities.

In early 2003 the Government announced plans to introduce legislation
for the development of industry and the development and management of
industrial estates in an Industrial Development Authority Act, and a
Free Zone Act.

## Foreign Direct Investment Statistics [**Return to top**](#ch6)

There was a surge in foreign direct investment from 1989 to 1991 that
fueled healthy growth figures in the early to mid-1990s. In recent years
there have been relatively few large-scale investments in Guyana. Bank
of Guyana statistics show that foreign direct investment, outside of the
telecommunications sector, has decreased in recent years. New foreign
direct investment (FDI) in Guyana decreased from US\$43.5 million in
2002 to US\$26.1 million in 2003. In 2004, the telecommunications sector
accounted for US\$25 million of the US\$30 million invested in the
country. Bank of Guyana statistics for the first half of 2005 report FDI
in the amount of US\$61.7 million. A notable recent development was the
Russian aluminum company RUSAL\'s US\$20 million investment in the
Aroaima Bauxite Mine. In late 2005, a local manufacturing enterprise
announced plans to constructs a US\$600,000 food processing facility in
the Eccles Industrial Estate following the 2006 elections. A local
beverage distributor has also embarked on a US\$841,000 program to
upgrade its fleet of American-made delivery vehicles.

Following is a list of foreign direct investment compiled by the Bank of
Guyana for 2002 to 2004.

**Foreign Direct Investment**

January-December 2002/2004

**(US\$ Million)**

  ------------------------------------- ------------ ---------- -----------
  **Companies**                         **2002**     **2003**   **2004**

  Ask 4 Solutions                       5.0          \-         \-

  Barama                                4.0          11.0       3.3

  Blue Sky Communication                2.0          \-         \-

  Caribbean Containers Ltd.             0.3          \-         \-

  Courts                                0.3          \-         \-

  Decipher International Inc.           2.0          \-         \-

  Esso Standard Oil S. A. Ltd.          0.3          \-         \-

  Global Seafood Technology             1.3          \-         \-

  Guyana Lottery Company                0.3          \-         \-

  Guyana Power and Light Co.            2.6          \-         \-

  Guyana Telephone & Telegraph Co.      14.0         \-         10.0

  National Milling Company Ltd.         0.5          \-         \-

  Omai                                  4.5          1.5        \-

  Sanata                                6.4          \-         \-

  Trans World Telecom (TWT)             \-           6.0        15.0

  Mining Exploration companies          \-           7.6        5.0

  Skeldon                               \-           \-         1.7

                                                                 

                                                                 

  **Total**                             43.5         26.1       35.0

  Source: Bank of Guyana                                        
  ------------------------------------- ------------ ---------- -----------

The Guyana government has signed a deal with a Canadian company,
Cambior, to privatize the Linmine bauxite operations. The government
announced plans to secure investments during 2005 with the following
entities:

Jaling Forest Industries Inc. (Canadian Investors)

Omai Bauxite Company Ltd. (US\$39M)(Canadian Investors)

Lake View Hotel and Resort (US\$25M)(Unknown Investors)

RotorWay International Guyana (US\$5M)(American Investor)

ROMANEX Guyana Exploration Ltd. - a subsidiary Of Vannessa Ventures
(US\$1.5M)(Canadian Investors)

Precise data are not available on the geographic origin of foreign
direct investment flows into Guyana. The authorities report that during
1992-02, most investment in the agriculture, forestry, and fishing
sector originated in south-east Asia. Investment in the mining and
quarrying sector during this period came from other Caribbean countries,
Canada, and the United States. The investors in the transport and
communication sector were from the United States, while both U.S. and
Caribbean investors provided capital for the wholesale and retail trade
sector.

There was a surge in foreign direct investment from 1989 to 1991 that
fueled healthy growth figures in the early to mid-1990s. In recent years
there have been relatively few large-scale investments in Guyana. Bank
of Guyana statistics show that foreign direct investment, outside of the
telecommunications sector, has decreased in recent years. Foreign direct
investment (FDI) in Guyana decreased from US\$43.5 million in 2002 to
US\$26.1 million in 2003 **(Table V)**. In 2004, the telecommunications
sector accounted for US\$25 million of the US\$30 million invested in
the country. Bank of Guyana statistics for the first half of 2005 report
FDI in the amount of US\$61.7 million. One notable recent investment was
made by DIDCO; a local company that launched US\$16.6 million poultry
farm in May 2002. In addition, the Russian aluminum company RUSAL has
invested US\$20 million in the Aroaima Bauxite Mine. In late 2005, a
local manufacturing enterprise announced plans to constructs a
US\$600,000 food processing facility in the Eccles Industrial Estate
following the 2006 elections. A local beverage distributor has also
embarked on a US\$841,000 program to upgrade its American-made fleet of
delivery vehicles.

Guyana experienced an improvement in overall investment in 2004. Foreign
Direct Investment expanded by 17.6%, however, Domestic Investment dipped
by 0.8%, despite a substantial investment in the poultry sector. Foreign
investment were made in the forestry and wood products,
telecommunications, and mining sectors.

**Table V**

**Foreign Direct Investment and Domestic Investment 2000 -- 2004**

(**US\$ Millions)**

  ---------------------------- ----------- ----------- ---------- ---------- ----------
                               **2000**    **2001**    **2002**   **2003**   **2004**

  **Domestic Investment**      50.1        51.4        52.7       50.5       50.1

  **Foreign Direct             67.1        56.1        43.6       26.1       48.4
  Investment**                                                               

  **Total Investment**         **117.2**   **107.5**   **96.3**   **76.6**   **98.5**
  ---------------------------- ----------- ----------- ---------- ---------- ----------

Source: Bank and UNCTAD World Investment Report 2005

Guyana remains open to business, and encourages investment in
agriculture, tourism, manufacturing, information technology, fishing,
and wood processing. During 2004, the Guyana Office for Investment
(GO-INVEST) facilitated seventy five (75) investment projects undertaken
by both domestic and foreign investors, worth in excess of US\$40
million. These projects are at various stages of implementation.
GO-INVEST is currently considering a further seventy two (72) projects
in such areas as Information and Communication Technology, forestry and
wood products, mining, manufacturing and services

## Web Resources [**Return to top**](#ch6)

Private Sector Commission\--an umbrella group of private sector
organizations that advocates on issue of interest to the business
community in Guyana. The website also includes a listing of legislation
that affects business interests.

<http://www.psc.org.gy/>

Doing Business in Guyana\--a World Bank publication that includes
several metrics to assess the investment climate in Guyana.

<http://www.doingbusiness.org/ExploreEconomies/Default.aspx?economyid=84>

Index of Economic Freedom\--A product of the Heritage Foundation that
examines a number of metrics useful to investors, including fiscal
burden, openness to trade, and government intervention in the economy.

<http://www.heritage.org/research/features/index/country.cfm?id=Guyana>

[Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

# 

[[]{#ch7 .anchor}Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

# Chapter 7: Trade and Project Financing

-   [How Do I Get Paid (Methods of
    Payment)](#how-do-i-get-paid-methods-of-payment-return-to-top)

-   [How Does the Banking System
    Operate](#how-does-the-banking-system-operate-return-to-top)

-   [Foreign-Exchange
    Controls](#foreign-exchange-controls-return-to-top)

-   [U.S. Banks and Local Correspondent
    Banks](#u.s.-banks-and-local-correspondent-banks-return-to-top)

-   [Project Financing](#project-financing-return-to-top)

-   [Web Resources](#web-resources-return-to-top-3)

## How Do I Get Paid (Methods of Payment) [**Return to top**](#ch7)

Wire transfers and bank-to-bank transfers are the most common from of
payment in Guyana.

Credit is not widely used in Guyana. The World Bank\'s Legal Rights
Index, which assesses the degree to which a country\'s collateral and
bankruptcy laws facilitate lending, scores Guyana a 3 (out of a possible
10), reflecting the weak credit infrastructure. Guyana does not have a
credit bureau to assess suitability for lending.

## How Does the Banking System Operate [**Return to top**](#ch7)

The Bank of Guyana, Guyana\'s central bank, implements monetary policy
and overseas operations of Guyana\'s six commercial banks as well as
other financial institutions. In addition, local currency traders, known
as cambios, provide currency exchange services, although the industry is
loosely regulated and believed to be prone to money laundering.

The Financial Institutions Act No.1 of 1995 created the regulatory
framework for the regulation of banking and other financial business in
Guyana. The Act specifies requirements for licensing of financial
institutions, paid up capital, restrictions on banking and financial
activities, supervision of licensed financial institutions and
provisions for insolvency. 

## Foreign-Exchange Controls [**Return to top**](#ch7)

There are no prohibitions on importing or exporting foreign currency
beyond statutory declaration requirements. However, recently some
companies have reported a persistent problem relating to delays in
gaining access to foreign currency. Firms seeking to convert Guyana
dollars to U.S. dollars may sometimes have to wait for some time for
their local bank to make U.S. dollars available. These delays have been
attributed to bank inefficiencies and an underdeveloped inter-bank
trading system. Firms are advised to develop business relationships with
several banks in order to maintain alternative avenues for currency
exchange.

## U.S. Banks and Local Correspondent Banks [**Return to top**](#ch7)

Bank of Baroda (India)

10 Avenue of the Republic

Georgetown

Telephone: (592) 226-4005/6

Fax: (592) 226-1719

http://www.bankofbaroda.com

Citizens Bank

201 Camp Street

Lacytown

Georgetown

Telephone: (592) 226-1705\~6

\(592\) 226-1708\~9

Fax: (592) 226-1719

\(592\) 227-8251

Demerara Bank

230 Camp and South Streets

Georgetown

Telephone: (592) 225-0610 \~9

Fax: (592) 225-0601

Website: <http://www.demerarabank.com/>

Email: banking@demerarabank.com

Correspondent bank for Chase Manhattan, Hamilton Bank (Miami, FL) and
Bank of America in the U.S.

Guyana Bank for Trade and Industry (GBTI)

47-48 Water Street

Robbstown,

Georgetown

Telephone: (592) 226-8430 \~ 9

Fax: (592) 227-1612

Website: [http://www.gbtibank.com](http://www.gbtibank.com/)

Email: banking@gbtibank.com

Correspondent bank for JP Morgan Chase and Citibank N.A. in the U.S.

National Bank of Industry and Commerce (NBIC)

38-40 Water Street

Telephone: (592) 226-1691 \~ 6

\(592\) 226-4091

Fax: (592) 227-2921

Website: [http://www.nbicgy.com](http://www.nbicgy.com/)

Email: mainbr@nbicltd.com

Correspondent bank for Bank of America and Bank of New York in the U.S.

Scotiabank

104 Carmichael Street

North Cummingsburg

Georgetown

Telephone: (592) 225-9222

Fax: (592) 225-9309

Website: [http://www.scotiabank.com](http://www.scotiabank.com/)

Email: <bns.guyana@scotiabank.com>

## Project Financing [**Return to top**](#ch7)

Guyana\'s Foreign Exchange Act requires special approval for local
financing. Foreign borrowers applying for a loan of over US\$10,638
(G\$2 million) must request permission to take out the loan locally from
the Minister of Finance. This requirement reflects Guyana's preference
for foreign investors to bring capital into the country. In practice,
foreign investors typically seek credit abroad to avoid Guyana's
typically high interest rates. The average prime lending rate for
Guyanese commercial banks in 2005 was 14.54 percent.

Most large projects are financed by international lending institution.
The Inter-American Development Bank (IADB) and the World Bank both have
large development programs, primarily in infrastructure rehabilitation
and expansion. The U.S., the U.K., Canada and the European Commission
all have bilateral aid programs geared at fostering economic growth and
sustained development.

## Web Resources [**Return to top**](#ch7)

Export-Import Bank of the United States:
[http://www.exim.gov](http://www.exim.gov/)

Country Limitation Schedule:
<http://www.exim.gov/tools/country/country_limits.html>

OPIC: [http://www.opic.gov](http://www.opic.gov/)

Trade and Development Agency: <http://www.tda.gov/>

SBA\'s Office of International Trade: <http://www.sba.gov/oit/>

USDA Commodity Credit Corporation:
<http://www.fsa.usda.gov/ccc/default.htm>

U.S. Agency for International Development:
[http://www.usaid.gov](http://www.usaid.gov/)

[Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

[[]{#ch8 .anchor}Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

# Chapter 8: Business Travel

-   [Business Customs](#business-customs-return-to-top)

-   [Travel Advisory](#travel-advisory-return-to-top)

-   [Visa Requirements](#visa-requirements-return-to-top)

-   [Telecommunications](#telecommunications-return-to-top)

-   [Transportation](#transportation-return-to-top)

-   [Language](#language-return-to-top)

-   [Health](#health-return-to-top)

-   [Local Time, Business Hours and Holidays](#localtime)

-   [Temporary Entry of Materials and Personal
    Belongings](#temporary-entry-of-materials-and-personal-belongings-return-to-top)

-   [Web Resources](#web-resources-return-to-top-4)

## Business Customs [**Return to top**](#ch8)

Business dress is relaxed. For men, work attire consists of anything
from a guayabera (shirtjac) to slacks polo shirt to shirt and tie and
light business suits for women.

## Travel Advisory [**Return to top**](#ch8)

The Department of State occasionally issues Travel Warnings advising
Americans of specific risks associated with travel to a particular
country. Travelers should consult the State Department\'s webpage at
<http://travel.state.gov/travel/cis_pa_tw/tw/tw_1764.html> for any
updates prior to travel. The State Department also encourages American
citizens to register with the Consular Section of the U.S. Embassy by
visiting the American Citizens Services Section or by using the on-line
registration system at <https://travelregistration.state.gov/ibrs/>

General information about travel to Guyana is available from the State
Department Consular Information Sheet: Guyana at
<http://travel.state.gov/travel/cis_pa_tw/cis/cis_1133.html>

## Visa Requirements [**Return to top**](#ch8)

Currently, only a valid U.S. passport is required for U.S. citizens to
enter and depart Guyana. On arrival in Guyana, visitors are granted a
30-day stay. Extensions of stay may be obtained from the Ministry of
Home Affairs at 60 Brickdam Street, Georgetown. The Central Office of
Immigration located on Camp Street, Georgetown, must then note the
extension in the visitor\'s passport. Travelers for other than tourism
purposes should check with the Ministry of Home Affairs for information
about requirements for work permits and extended stays.

U.S. Companies that require travel of foreign businesspersons to the
United States should be advised that security options are handled via an
interagency process. Visa applicants should go to the following links.

State Department Visa Website: <http://travel.state.gov/visa/index.html>

United States Visas.gov: <http://www.unitedstatesvisas.gov/>

[Consular Section, U.S. Embassy, Georgetown,
Guyana](http://georgetown.usembassy.gov/guyana/acs_welcome.html)

## Telecommunications [**Return to top**](#ch8)

U.S. Virgin Islands-based Atlantic TeleNetwork owns 80% of Guyana
Telephone and Telegraph (GT&T), the sole provider of line telephony in
Guyana. Two companies, GT&T and Cel\*Star, provide cellular service. Two
Internet Service Providers currently offer high-speed internet access.

## Transportation [**Return to top**](#ch8)

International flights to Guyana arrive at the Cheddi Jagan International
Airport, Timehri, about 40 miles south of Georgetown. British West
Indies Airlines serves Guyana with daily flights from New York (via Port
of Spain, Trinidad) and Miami (via Bridgetown, Barbados). North American
Airlines offers a direct flight to Guyana from JFK Airport in New York.
Taxicabs are available at the airport to transport visitors to
Georgetown.

## Language [**Return to top**](#ch8)

English is the primary and official language of Guyana. Guyanese Creole,
a dialect of English, is spoken in most parts of the country. Most
Amerindians speak English, but in a few remote parts of the interior
only Amerindian languages are spoken

## Health [**Return to top**](#ch8)

[]{#localtime .anchor}Medical care is available for minor medical
conditions. Emergency care and hospitalization for major medical
illnesses or surgery is limited, due to a lack of appropriately trained
specialists, below standard in-hospital care, and poor sanitation.
Ambulance service is substandard and may not routinely be available for
emergencies. The U.S. State Department advises travelers to bring
prescription medicine sufficient for their length of stay and should be
aware that Guyana\'s humid climate may affect some medicine. Some
prescription medicines (mainly generic rather than name-brand) are
available.

Information on vaccinations and other health precautions, such as safe
food and water precautions and insect bite protection, may be obtained
from the Centers for Disease Control and Prevention's hotline for
international travelers at 1-877-FYI-TRIP (1-877-394-8747) or via the
CDC's Internet site at <http://www.cdc.gov/travel>. For information
about outbreaks of infectious diseases abroad consult the World Health
Organization's (WHO) website at <http://www.who.int/en>. Further health
information for travelers is available at <http://www.who.int/ith>.

The Department of State strongly urges Americans to consult with their
medical insurance company prior to traveling abroad to confirm whether
their policy applies overseas and whether it will cover emergency
expenses such as a medical evacuation. [Please click here for
information on medical insurance
overseas](http://travel.state.gov/travel/cis_pa_tw/cis/cis_1470.html).

## Local Time, Business Hours, and Holidays [**Return to top**](#ch8)

Guyana is in Atlantic Standard Time year-round (GMT -4).

Working hours are Monday through Thursday from 8:00 a.m. to 4:30 p.m.
and Friday from 8:00 a.m. to 3:30 p.m. for government offices. The
working hours for banks are Monday through Thursday from 8:00 a.m. to
2:00 p.m. and Friday from 8:00 a.m. to 2:30 p.m. Most Private Sector
Organizations working hours are Monday through Friday from 8:00 a.m. to
4:30 p.m. or 5:00 p.m.

The U.S. Embassy is open Monday through Friday from 7:30 a.m. to 4:00
p.m. After working hours, a duty officer is available in case of
emergency. To contact the duty officer, telephone 592-623-1992.

**Holidays**

The U.S. Embassy is closed for all U.S. federal holidays and most
Guyanese holidays. A list of holidays is available at
<http://georgetown.usembassy.gov/guyana/holidays.html>

## Temporary Entry of Materials and Personal Belongings [**Return to top**](#ch8)

Temporary entry of goods into Guyana is permissible; this would require
the importer making advance notification (a detailed list must be
provided) to the Customs and Trade Administration (CTA), and also the
registration of the goods at the port of entry. The importer is required
to make a bond deposit to the CTA. If the goods are not re-exported the
importer with be required to pay the necessary duties and other charges.
For further information about temporary entry of materials and personal
belongings please contact the Customs and Trade Administration

**Customs Contact Information**

Mr. Lambert Marks

Commissioner

Customs and Trade Administration

Customs House

Main Street

Georgetown, Guyana

Tel: 592-225-9102

592-225-6931-7

Ms. Ingrid Griffith

Deputy Commissioner

Customs and Trade Administration

Customs House

Main Street

Georgetown, Guyana

Tel: 592-225-4698

592-225-4289

592-225-6931-7

## Web Resources [**Return to top**](#ch8)

Guyana Telephone and Telegraph

[http://www.gtt.co.gy](http://www.gtt.co.gy/)

Lodging and sightseeing information is available from the Guyana Tourism
Authority at <http://www.guyana-tourism.com/>

[Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

[Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

# Chapter 9: Contacts, Market Research, and Trade Events

-   [Contacts](#contacts-return-to-top-1)

-   [Market Research](#market-research-return-to-top)

-   [Trade Events](#trade-events-return-to-top)

## Contacts [**Return to top**](#chapter-9-contacts-market-research-and-trade-events)

Economic/Commercial Officer

U.S. Embassy Georgetown

Tel: (592) 225-4900 ex. 220

Fax: (592) 227-0240

## Market Research [**Return to top**](#chapter-9-contacts-market-research-and-trade-events)

To view market research reports produced by the U.S. Commercial Service
please go to the following website:
[http://www.export.gov/marketresearch.html](http://www.export.gov/marketresearch.html )
and click on Country and Industry Market Reports.

Please note that these reports are only available to U.S. citizens and
U.S. companies. Registration to the site is required, but free of
charge.

## Trade Events [**Return to top**](#chapter-9-contacts-market-research-and-trade-events)

Please click on the link below for information on upcoming trade events.

<http://www.export.gov/tradeevents.html>

[Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

[[]{#ch10 .anchor}Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

# Chapter 10: Guide to Our Services

The U.S. Commercial Service offers customized solutions to help your
business enter and succeed in markets worldwide. Our global network of
trade specialists will work one-on-one with you through every step of
the exporting process, helping you to:

-   Target the best markets with our world-class research

-   Promote your products and services to qualified buyers

-   Meet the best distributors and agents for your products and services

-   Overcome potential challenges or trade barriers

For more information on the services the U.S. Commercial Service offers
U.S. businesses, please click on the link below.

<http://www.buyusa.gov/caribbean/en/services_for_usexporters.html>

[Return to table of
contents](#doing-business-in-guyana-a-country-commercial-guide-for-u.s.-companies)

# 

U.S. exporters seeking general export information/assistance or
country-specific commercial information should consult with their
nearest **Export Assistance Center** or the **U.S. Department of
Commerce\'s Trade Information Center** at **(800) USA-TRADE**, or go to
the following website: [http://www.export.gov]()\
\
To the best of our knowledge, the information contained in this report
is accurate as of the date published. However, **The Department of
Commerce** does not take responsibility for actions readers may take
based on the information contained herein. Readers should always conduct
their own due diligence before entering into business ventures or other
commercial arrangements. **The Department of Commerce** can assist
companies in these endeavors.