CATEGORY: Focus Reports
Oil and gas finds in 2015 lead to the modest growth of the Guyanese economy in 2019, driving total GDP over the $3.6bn mark. 2020 will mark the beginning of the country’s transformation from being a raw materials exporter - and among the least developed countries in the Western Hemisphere - to becoming an oil and gas powerhouse, setting the country up for substantial foreign investment and growth opportunities. The service and energy sectors are best poised for rapid development off the back of oil and gas production, and traditional sectors such as agriculture, timber and tourism are expected to grow in both levels of sophistication and market strength.
The potential of Hidalgo as an industrial hub is hardly a new discovery, stemming back to the 1950s when the manufacturing city of Fray Bernardino de Sahagún in the southern municipality of Tepeapulco was founded as part of a federal government initiative to house the Mexican automotive producer National Diesel, also known as DINA, and national rail construction company Constructora Nacional de Carros de Ferrocarril (Concarril).