Guyana State Corporation

The Guyana State Corporation was established in the mid-1980s when the Guyanese government controlled over four-fifths of the nation's economy. This corporation reorganized all nationalized businesses, including the state-owned Guyana Sugar Corporation and the Guyana Mining Enterprise Ltd.1

Previously, Guyana's economy was dependent on agriculture and mined products like sugarcane and bauxite. During the 1970s, the government nationalized private bauxite holdings and large Booker McConnell companies. However, a privatization program beginning in the 1990s reduced government control.123

In 2015, Guyana's economy was significantly transformed by the discovery of rich offshore oil fields. This discovery promised to boost other economic sectors and improve the standard of living.123