Dear Editor,
The Head of the Region Three Private Sector Inc. (R3PSInc), Halim Khan, has welcomed the Government’s 2026 National Budget as a decisive step toward broad-based, inclusive growth, positioning Region Three to emerge as one of Guyana’s most dynamic investment and manufacturing corridors.
Speaking after Finance Minister Dr. Ashni Singh presented Budget 2026 to the National Assembly, Khan highlighted that the budget’s focus on small and medium-sized enterprises (SMEs), housing, infrastructure, value-added production, and human capital development reflects years of advocacy by the private sector in Region Three.
“This budget sends a clear signal that national development is no longer confined to Georgetown or a few coastal pockets,” Khan said. “For Region Three, it opens real opportunities for manufacturing, agro-processing, logistics, and small business growth.”
Budget 2026 introduces measures aimed at lowering business costs and widening access to financing, including the establishment of a capitalised Guyana Development Bank offering zero-interest microcredit to small entrepreneurs, expanded co-investment financing through commercial banks, and the removal of VAT on locally made furniture and jewellery. Export incentives for value-added forestry products were also enhanced.
Khan noted that these initiatives directly benefit clusters of small manufacturers, contractors, and agro-processors operating along the West Demerara and Essequibo coast. “For years, businesses in this region have struggled with access to affordable capital and high input costs. This represents a deliberate shift to empower local producers, not just importers.”
The budget also raises the low-income mortgage ceiling from $20 million to $30 million and extends the facility to insurance companies, a move expected to stimulate construction and related industries in Region Three, where new housing areas are being developed. Expanded infrastructure, including roads, utilities, and community services, is set to integrate the region more fully into the national economic grid.
“Every new house built creates jobs for carpenters, masons, electricians, hardware suppliers, and transport operators,” Khan said. “This is how a local economic ecosystem is nurtured.”
Khan emphasised that the budget prioritizes long-term human development through substantial investments in health and education. With the expansion of regional hospitals, rollout of electronic health records, and training of over 5,400 nurses and allied health professionals, “access to quality healthcare is no longer limited to urban centres; residents in West Demerara and surrounding areas will enjoy improved services, shorter wait times, and better preventative care,” he said.
On education, the budget provides for scholarships, free university education, technical and vocational training, and digital schooling programmes. “Education is the ultimate security measure,” Khan remarked. “A well-educated population strengthens our communities, reduces social vulnerabilities, and provides the human capital needed for sustainable economic and social development.”
Khan stressed that Region Three is strategically positioned to become a hub for manufacturing, logistics, and value-added production, bridging the capital and the Essequibo coast. He also highlighted the importance of modern aviation infrastructure and reliable utilities, noting: “Without dependable electricity, water, and air transport, no economy—whether manufacturing, agriculture, or services—can function or grow. These are foundational to sustainable development.”
“Budget 2026 demonstrates that national growth and regional development can go hand-in-hand,” Khan concluded. “The private sector is ready to do its part. If these measures are implemented effectively, Region Three will not just benefit from national growth—it will help drive it.”