A well-developed Information & Communication Technology (ICT) sector can significantly contribute to a country’s economic growth and development, however, ICT in Guyana has been lagging behind its sister countries within the Caribbean.
In December 2015, the Government of Guyana (GOG) introduced the Ministry of Public Telecommunications (MoPT) with the mandate to develop and operationalise an enabling environment that will facilitate the optimum utilisation of ICT in Guyana. More so, with internet access now considered a basic human right, the MoPT is on an on-going mission to provide connectivity to all Guyanese regardless of location.
Much of Guyana’s ICT development over the last two decades must be credited to the Guyana Telephone and Telegraph (GT&T) company. While the company continues to enjoy a monopoly (since 1990) over the sector, the passing of the Telecommunications bill in 2016 to fully liberalise the sector will provide many business opportunities within Guyana for local and foreign investors.
ICT is known worldwide to be disruptive in nature and in the case of Guyana this is not different. One of the biggest challenges the MoPT faces in its attempt to create a digital economy is resistance to change due to culture. However, the MoPT in collaboration with other stakeholders, is actively working to create a cultural shift across all regions in Guyana.
benefits to investors
Educated / highly literate workforce
High trainable workforce
Cost Advantages : Competitive labour costs, Low business costs
Simple business environment
Only English speaking country in South America
Not prone devastating natural disasters
ict specific incentives
Exemption from Customs Duty on a wide range of ICT equipment including computers and their hardware accessories, integrated circuits, micro assemblies and apparatus
Unlimited carryover of losses from previous years
Zero rate of Value-Added-Tax on Computers and hardware accessories, routers, switches and hubs for networking computers, toner cartridges and ink cartridges for computer printers
Full and unrestricted repatriation of capital, profits and dividends
Exemption from duties and taxes for items covered under an Investment Agreement
Benefits of double taxation treaties with the UK , Canada, Kuwait and Caricom countries