Even the great United States is offering tax-free zones to lure investors

–but apparently Guyana’s opposition thinks otherwise

OLD Kai is appalled at the levels of hypocrisy exhibited by certain groups in society who are clearly cheerleaders of the opposition in Guyana. These groups are always critical of any and everything in Guyana; they are always decrying conditions related to public infrastructure; public servants salaries and benefits; healthcare access; education; job creation etc.Fair enough! As these are perennial issues which will never go away in our civilization. In fact, our very survival depends on always pushing to raise the bar for a better standard of living. However, what is shocking is the silence, or tacit support, of these very groups towards the opposition’s clear-cut plan to destabilise the factors which will provide the opportunity to achieve the constant improvement in the standard of living we all desire.
In so doing, they give the impression that Guyana, on its own, is fully capable of generating its own self-development; but we have tried this approach before, from the late 60s to the early 90s, and we are all aware of the end result.
To shed some further light on this reality, even the great United States of America (which many Guyanese see as the ideal model of development) is doing all it can to attract investors to exploit its resources, and in so doing, create the levels of employment it so desires to jump-start its stagnant economy.
This along with a multiplicity of other related economic benefits from increased investors will provide the necessary resources for the US Government to reduce its massive international debt, and at the same time give it additional breathing space to focus more on halting the decline in the standard of living of Americans.
This is the primary objective that is fuelling New York Governor, Andrew Cuomo’s ‘START-UP NY’ plan, which has been described as the most ambitious development plan in the State’s recent history.
What’s at the heart of this plan? Attracting investors, as, according to Governor Cuomo, “In a tax-free environment, no one can match what New York has to offer. Businesses that are looking to startup or expand, and, most importantly, create jobs should look no further. We are leveraging our world-class SUNY system and prestigious private universities to partner with new businesses, providing direct access to advanced research, development resources, experts in high-tech and other industries and all with zero taxes for ten whole years…”
Yes, you heard right! ‘Zero taxes for ten years in the US’! If the largest economy in the world is forced to adopt such a measure, it makes one wonder at the logic behind the opposition in Guyana attacking each and every single investor in our country. In fact, attacking investments was at the heart of their electoral campaign in the 2011 regional and general elections.
This anti-investment, anti-private sector campaign by the opposition only intensified when they emerged from that election with a combined one-seat majority in the National Assembly. They have cut funding for several major infrastructural initiatives, which serve to lay the groundwork to make Guyana more attractive to foreign investors.
You will appreciate how much work we have ahead of us to really be competitive in the global market, when the NY Governor says no one can match what his State has to offer international investors.
Instead, what we have is the opposition literally chasing away a major US investor (the Blackstone group) involved in the Amaila Falls Hydroproject, who would have been investing hundreds of millions of US dollars into our local economy; creating much-needed jobs; and more importantly, ensuring our country benefits from cheaper and reliable electricity, which is one of the major factors potential investors take into consideration before committing to bringing their money into a particular country.
No doubt, the Blackstone group will find it more lucrative now to keep their money in the US economy, which means that Guyana has lost out in a major way.
In all of this, the groups who are clamouring for improved benefits have remained silent on this major assault on our economy by the opposition, and would rather have you believe that it never occurred in the first instance. It makes you wonder if these people are genuinely interested in a brighter, more secure future for our country, or are willing to sacrifice this, just so the party they support can eventually regain political power, at any and all cost.
There are several other instances of their attacks, including illegally cutting funding in the budget for the LCDS project; the Cheddi Jagan International Airport expansion; the Marriott Hotel; and the Specialty Hospital; and more recently, chasing away the Brazilian investors who were conducting a geological survey of the New River Triangle area to map whatever resources we have there.
The AFC/APNU alliance has also attacked the PPP/C Government’s initiative of encouraging public/private partnerships to accelerate development, as in the case of the Mariott; the Amaila Falls project; and completion of Berbice River Bridge. They have strenuously contended that the government should not be involved in such ventures; but here we have it that the Americans are now adopting the very initiative the PPP/C Government has taken, for, as New York officials have been quoted as saying, “…we anticipate a windfall of innovation-driven public-private partnerships that, because of the START-UP NY program, will create jobs and amazing new opportunities for students and researchers.”
Do not for one minute be led into a false sense of security that investors overseas are not paying keen attention to the way the Guyanese opposition are treating the local Private Sector bodies, including their refusal to hear the Private Sector Commission (PSC)’s petition on the Anti-Money Laundering Bill in the National Assembly, and their refusal to have Private Sector representatives and the media observe proceedings in the Special Select Committee on the proposed amendments between the government and the opposition.
Another fatal blow would no doubt be the outrageous proposals by the opposition, after they were pressured to reveal exactly what were their concerns with the present amendment, which remained a national secret for several months. The opposition now proposes that anyone having in their possession G$2M (US$10,000) or more can be arbitrarily arrested and charged under the new money laundering legislation. This is a direct attack on the local business community, as, traditionally, the Guyanese business culture was/is a cash-based one.
Businesses (legitimate) deal with millions of dollars in transactions on a daily basis; now they will become severely restricted in their operations.
So, why should businesses come to Guyana, where the opposition will be attacking and vilifying them, when they can take their money to the United States and not have to pay taxes for a decade, while also benefiting from other forms of Government assistance to establish their enterprises?
Here in Guyana, the opposition would have you believe that that is a form of ‘corruption’! But in spite of all of this, the AFC and APNU will stand up on a political platform, and, with a straight face, attack the PPP/C Government for not creating job opportunities for our youths, and not doing enough to improve our living standards. Their cheerleaders, including some of those in the media, will be there to spin their misinformation, but this cannot last forever. Guyanese have now had the opportunity to see who is genuinely concerned about their welfare and future development.
A time will soon come when they will have to choose between the election period inciting of race and ethnic insecurities, or the future development and security of themselves and their children.
Old Kai is confident they will make the right choice.

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