Guyana invests $2.8Mn in BPO sector expansion
GEORGETOWN, GUYANA — In a bold move to diversify its economy and create jobs, Guyana is investing US$2.8 million to construct two large Business Process Outsourcing (BPO) campuses in Region Five (Mahaica-Berbice), aiming to become a significant player in the global BPO industry.
This initiative is expected to generate up to 15,000 jobs, positioning Guyana as a formidable competitor in the Caribbean BPO market.
Despite being smaller than regional giants like Jamaica and the Dominican Republic, Guyana’s recent economic boom, primarily fueled by an oil discovery, has led to a remarkable 38% GDP growth last year.
This economic windfall has enabled the government to channel funds into sectors like BPO, creating employment opportunities for its young workforce.
The upcoming BPO campuses will offer state-of-the-art facilities, including high-speed Internet, to attract foreign contact centers. This strategy has already begun to bear fruit, with Decipher Health Records, a Bangalore-based BPO, set to commence operations in Guyana.
Additionally, Teleperformance has expanded its Georgetown call center, and Jamaican BPO provider itel has announced a US$4 million investment in the country.
In an interview with Nearshore Americas, Peter Ramsaroop, head of Guyana’s investment promotion agency GO-Invest, expressed optimism about the sector’s growth.
“We’re hopeful of seeing at least three to four new entrants in Guyana’s BPO sector by year-end.”
He also highlighted ongoing discussions with BPO companies from the Dominican Republic, looking to tap into Guyana’s English-speaking talent pool.
The government’s commitment to the BPO sector is further demonstrated by its investment in training programs for young graduates, aiming to bolster the workforce with relevant skills. Over 1,300 individuals have already benefited from training in areas such as word processing and programming.
Guyana’s strategic focus on the BPO industry, coupled with significant tax benefits for foreign companies and improvements in telecommunications infrastructure, positions the country as an attractive destination for global services.
This diversification effort has already attracted major American corporations like Walmart, Uber, and Amazon for back-office support, signaling a promising future for Guyana’s BPO sector.
