LICENCES for new commercial banks; the promise of cheaper air freight charged on exports for micro, small and medium- scale operators; the opening up of a free trade zone in Lethem and reduced “red tape” when transacting business are among the many priority items on the agenda of the Donald Ramotar Administration, once re-elected to office come May 11. President Donald Ramotar made the announcement yesterday in the ballroom of the Marriott Hotel, as he wrapped up the 2015 Pre-Election Business Discourse Luncheon, hosted by the Guyana Manufacturers and Services Association (GMSA).

Inaugurated by the GMSA ahead of the 2011 Regional and General Elections, the private sector umbrella body president, Clinton Williams,prior to Ramotar’s announcement,reminded the audience of the importance of the forum, since it gives an opportunity to publicly and candidly discuss issues of concern to the business community with the presidential candidates ahead of polling day.
Presidential candidate of the coalesced A Partnership for National Unity and Alliance For Change (APNU+AFC), Brigadier (rtd) David Granger, was the first to appear in this year’s two- part discourse, on March 17, last, when he declared that “Guyana is a land of jaguars led by a bunch of jackasses.”
COMPETITION
President Ramotar in his engagement with the business community,promised that once the People’s Progressive Party Civic (PPP/C), under his leadership is re-elected to office, there will be continued focus on the business community, long recognised as the engine of growth of the economy.
According to the President, once re-elected, the administration will immediately pursue reputable overseas banks with a view to issuing more licences.
“We will search for reputable banks to bring to Guyana,” according to Ramotar.
This, he explained, will inherently lead to greater competition, driving down interest rates at which entrepreneurs and potent small and medium- scale business persons can access critical financing.
The ballroom of the recently opened Marriott Hotel served as the venue for the occasion and saw in attendance members of the diplomatic corps, representatives of key government agencies, representatives of the various private -sector umbrella bodies and key local business magnates—all paying keen attention and given the opportunity to publicly question the President on his plans, policies and proposals.
President Ramotar cautioned that while Government cannot at this time create a development-type bank, it can in addition to issuing licences to existing reputable foreign banks to operate in Guyana, also aggressively pursue development- type financing through fiscal measures with specialised institutions.
He pointed to programmes along the lines of the Women of Worth (WOW) initiative, which was run in partnership with a local commercial bank, meant to assist even on the micro scale, persons looking to get into business.
“We want to extend the experience into other sectors to stimulate small and medium- sized enterprises,” said Ramotar.
He told the business community new banking licences have not been issued since the 1990s, since the size of the economy, simply could not afford it.
Given the sustained economic growth over the years along with other favourable factors, government can now issue more commercial banking licences, according to Ramotar.
PRIVATE SECTOR PARTNERS
Raised by Williams ahead of the President’s presentation as one of the critical areas of concern, was the issue of energy and according to Ramotar, once re-elected he will aggressively pursue, with a view to commencing construction this year, the Amaila Falls Hydro Electric Project.
He reminded the business community that ever since 1997, government along with the private sector had recognised as critical to national development the harnessing of hydroelectric energy

potential at Amaila Falls on the Potaro River.
This, President Ramotar reminded the audience, is well documented in the National Development Strategy of the time and today remains critical to Guyana’s development—cheap energy.
Ramotar was adamant that a re-elected PPP/C government will pursue this flagship project since it will mean saving US$3B over the course of two decades at which point in time Guyana will receive the generation plant free of cost.
Ramotar said, not only is there not a single cent of debt, but the electricity costs will initially be reduced by as much as 20 per cent, further going down as the years progress.
AERIAL HUB
The President sought to assure the business community also that high on the agenda is transforming Guyana into not only a maritime hub, but also an aerial hub.
Expanding on his administration’s vision, Ramotar said that Guyana through the building of a new airport will not only see Guyana eventually being transformed into an aerial hub, but it will also have an immediate and direct effect to the local business community.
A new airport, according to Ramotar, will eventually mean cheaper rates charged to export products out of Guyana, whether farmed or manufactured—micro, small, medium and large scale.
“A new airport is extremely important,” President Ramotar stressed, “not just for big companies but small farmers too.”
MARITIME HUB
Continuing on the matter of critical infrastructure, the President pointed to the deep water harbour, planned for the mouth of the Berbice River.
According to Ramotar, he is cognisant of the fact that there may be some trepidation over this move in light of the Demerara harbour and assured that while the “Demerara harbour will always be important…clearly we need a new harbour to deal with the new type of maritime trade.”
President Ramotar said, “we have to start thinking ahead,” and pointed out too that regional counterparts in the Caribbean are already forging ahead in preparation for the evolving maritime trade.
Guyana, he stressed, has a distinct geographical advantage that can be taken advantage of, in order to transform the nation into an aerial and maritime hub.
The ‘spin off benefits,’ will be tremendous for both the private sector and the country as a whole, according to Ramotar.
Utilizing a good portion of his presentation to speak to critical infrastructural projects, Ramotar spoke to the ongoing development of four- lane highways across the country and reminded the business community too of the need to pave the road to Brazil.
MARRIOTT STIMULUS
The President also used the opportunity to again laud the advent of the Georgetown Marriott Hotel and said that while those affiliated will, and rightly so, speak about the benefits that will redound redound to the tourism industry, the business community also stands to benefit from the PPP/C Government- led initiative.
Providing a practical example, President Ramotar divulged that a business contingent had travelled to Guyana for an international confab, but flew off to Trinidad and Tobago the very evening since the accommodation in Guyana at the time was not up to par.
Hotels such as the Marriott, according to Ramotar, will serve to be very important for the local business community and their international partners alike.
PPP/C MANIFESTO
President Ramotar also used the occasion to take a few swipes at the political opposition, pointing out that many of the proposals he has heard coming out of the APNU+AFC camp will only lead the nation to a deficit, increase inflation and threaten stability of the foreign exchange rates.
Ramotar said that among those proposals he has heard, are a reduction in taxes coupled with generous increases, but none have spoken to how these will be financed.
He announced that in a matter of days, the PPP/C will be making public its 2015 Manifesto and in it, it is documented how each of the proposals will be financed, once re-elected to office.
According to the President, such fiscal matters have to be approached responsibly to ensure the preservation and macro-economic stability.
He reminded his audience that in recent years, whenever the economy could have afforded it, corporation tax was reduced, among other measures.
Ramotar also spoke to Government’s plans to invest more in human capital, meant to deliver a healthier and more educated workforce, in order to meet the demands of the business environment.
Guyana’s human capital must be developed to the point where it can take the country to higher levels, Ramotar espoused.
The President said too that greater focus will also be paid to security and government bureaucracy.
Once re-elected, Ramotar said the PPP/C Administration will also liberalize the telecommunications sector.
He said too that Government has no intention of competing in the industry, but rather to intervene on behalf of the vulnerable to ensure they are not left behind as the ICT field progresses in Guyana.
Q&A
Following the presentation to the business community, the floor was open for any and all to grill the President on his proposals, plans and policies.
Ramotar was questioned on, and defended his Government’s record on its fight against perceived corruption; dispelled rumours of a proposal from Trinidad and Tobagoto to land a submarine cable in Guyana to sell electricity locally; tourism; food security and even having to “get tough with our CARICOM partners.
GMSA/PSC HAPPY
Following the close of this year’s Pre-Election Business Discourse Luncheon, GMSA President, Clinton Williams, in an exclusive interview with the Guyana Chronicle said “I think it went well.”
He explained that some of the major topics that were affecting the manufacturing sector were addressed.
Williams said too that the discourse that followed Ramotar’s presentation, during which members of the business community managed to pose questions to the President would no doubt also prove to be vital.
From a GMSA perspective, according to Williams, “I believe we have achieved the objective of getting the business community to put their positions out to the contenders and to get responses that would make sense in terms of the way forward.”
Chairman of the Private Sector Commission (PSC), Ramesh Persaud, who was also on hand for the discourse, told the Guyana Chronicle afterwards, “We were happy that the business community was able to listen to the Opposition Leader a few weeks ago and to also have listened to the President.”
He did use the occasion to point out that the PSC would still like to see Ramotar and Granger “side by side in a debate.”
According to the PSC Chairman, even if it is a case of just the Presidential Debates, “I think it still has merit.”