Transformative power of American FDI

Guyana, a tiny country in South America with a population roughly the size of Bahawalpur, has the highest expected GDP growth rate in the world. Recording a GDP rate of 62.3 per cent in 2022, it is expected to grow by over a 100pc by 2028, mostly because of oil. Unlike its neighbour Venezuela, which has the world’s largest oil reserves, Guyana’s GDP skyrocketed because of massive foreign direct investment (FDI), mostly by the US through ExxonMobil and its partners. The importance of US FDI in transforming a country’s economic fortunes cannot be overstated. In Guyana’s case, American investment has catalysed an economic boom, driving infrastructure development, creating jobs, and increasing national revenues. This showcases how strategic FDI can propel a nation towards unprecedented economic growth.