GEORGETOWN, Guyana – September 8, 2025
Re-elected for a second term, President Dr. Mohamed Irfaan Ali has pledged to transform Guyana’s economy over the next five years, promising to move “ambition into action and action into transformation.” In his inaugural address on Sunday, Ali outlined a vision that places oil and gas at the center of national growth, while also committing to build a diversified economy that secures long-term prosperity for all Guyanese.
“Our oil and gas sector will continue to grow, expanding production and revenue for our people. But why stop there? We will press forward with new explorations under a stronger production sharing agreement, ensuring that the benefits are greater, gains are wider, and the wealth is truly for the people,” Ali declared.
The President pointed to Guyana’s rapid expansion in petroleum production, noting the recent arrival of the ONE GUYANA floating production, storage, and offloading (FPSO) vessel. The new platform now joins the Liza Destiny, Liza Unity, and Prosperity FPSOs, pushing national production capacity to over 900,000 barrels of oil per day. By 2030, ExxonMobil projects Guyana’s offshore fields will yield as much as 1.7 million barrels of oil equivalent daily, making the country one of the fastest-growing energy producers in the world.
But Ali stressed that oil and gas will not be Guyana’s sole economic pillar. “We are not a one-sector nation. We are building a diversified economy that will generate jobs, raise incomes, and secure prosperity,” he said. To this end, his administration plans to strengthen traditional industries such as mining, agriculture, fisheries, and forestry, ensuring they continue to provide stability and employment.
Looking ahead, Ali also laid out plans to cultivate “new engines of growth,” including world-class tourism, a thriving blue economy, competitive manufacturing, advanced information and communication technology, and knowledge-based industries. These, he said, will complement oil revenues and build resilience into Guyana’s economy.
With oil wealth accelerating national development, Ali urged citizens to see the years ahead as a defining chapter. His call was clear: Guyana must seize the moment, channel its newfound resources responsibly, and build a future where prosperity is both broad-based and sustainable.
