Finance Minister Singh announces…$50M to operationalise Linden Enterprise Network

FINANCE Minister Dr. Ashni Singh has announced that the Linden Enterprise Network (LEN) will be operationalised this year to provide business development and advisory services, training and technical assistance in entrepreneurial skills and to residents of Region 10 (Upper Demerara/Berbice).He made the announcement in his National Budget presentation last week, stating that the programme is intended to generate long-term employment, encourage new business ventures and assist the Linden private sector to expand opportunities through an inward investment policy.
According to him, the initial start-up seed capital of $50M for the venture is already available and the LEN Board was officially announced and installed in January 2014.
The entity will continue to offer the critical services previously provided by two past similar type programmes, Linden Economic Advancement Programme (LEAP) and Linden Economic Advancement Fund (LEAF) to Region 10 communities.
Dr. Singh also disclosed that a sum of $1B has been provided in Budget 2014 to support rural enterprise development, another initiative through which it is expected that thousands of persons will benefit, either through employment obtained or other linkages from enterprise incubation grants.
He said that, over the years, Government has invested tremendously in rural development, in particular on infrastructure, such as roads, bridges, drainage and irrigation and community market facilities.
“The result has been increased business opportunities and raised quality of life throughout our villages. In order to promote more sustainable progress in rural communities. However, it is important to encourage a deepening of entrepreneurial activity in these communities.
“To this end, our Government intends to encourage and promote, more aggressively, the emergence of entrepreneurial ventures in rural communities with an emphasis on small businesses and labour intensive activities, the principal aim being creation of jobs for young people,” Dr. Singh stated.

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