AGM told…
GEORGETOWN Chamber of Commerce and Industry (GCCI) has recorded a $4.7M surplus, a feat when compared to performance over the last 10 years.
The President, Mr. Chandradat Chintamani made the disclosure at the 120th Annual General Meeting (AGM) yesterday.
He said: “This is the first year we have made such a large surplus. It is a real success when we recognise that we have derived it after taking on our operating expenses.”
Chintamani was addressing the health of GCCI at a gathering which included members of the Diplomatic Corps and the business community at Duke Lodge, Kingston.
He said 2009 was a challenging year, in light of the global financial situation, but assured that Guyana’s business sector has remained robust.
“The challenges, not just for the Chamber, but the business sector, were derived from those in the global situation,” Chintamani noted.
He said, while some sectors sourced earnings from alternative avenues, the general level of revenues decreased.
“Despite all of this, the business community in Guyana has done fairly well,” Chintamani maintained, adding: “We have seen different indicators that say we have successfully withstood the challenges of the global economic crisis.”
He attributed the GCCI success to the increased support of the business community.
As a result, Chintamani said GCCI is now in a healthy cash position and urged members to work and build on the strength achieved in 2009.
According to him, 2010 will see the Chamber investing in key areas to generate value-added services and enhancing awareness of its work through an up to date website.
Chintamani said initiatives started in 2009 but not completed will be advanced this year and include the Business Guyana Magazine, online advertising, development in marketing expertise to assist businesses and the Revised Code of Conduct.
He said the last is quintessential to operations because it is a blueprint that can be used to communicate, to the business community, the Chamber’s position on all, transparently and above the table.
Delivering the feature address, was Minister of Labour, Mr. Manzoor Nadir, who commended the Chamber on its efforts and pointed to the need to employ good, sound and empirical data in all decision making processes.

Better platform
He said that will provide a better platform for operations and advancement in the future and a plethora of data exists to support the business community.
Nadir said the Bureau of Statistics, Guyana Revenue Authority (GRA) and Government ministries that produce para-statistics are ideal sources for the requisite data.
He observed that relevant data enables the business community to target investments and assist in the actual way business is done.
“It is all about data and how we use it,” Nadir stated.
The Minister said one pertinent aspect of data relates to the labour market as labour is an important factor in production.
He said, of importance, is how to get the best out of available labour resources and knowing the market.
In this regard, Nadir encouraged the Chamber to be supportive in providing his ministry with relevant data on business operations which is then compiled and analysed.
“You feed us the data so we can feed you the relevant information,” he proposed.
Nadir said, for a recent survey undertaken by the Ministry, a total of 500 questionnaires were distributed to a selection of the business community but only 251 responses were received.
“The responses were overwhelmingly from the Private Sector. We need continued support,” he appealed.
Nadir remarked that information is a tool that can be used to ensure an enhanced competitive environment, better workforce and, by extension, better productivity and a better economy.
GCCI Councillor, Mr. Terry Holder, who also addressed the gathering, asserted that there is much work for the Chamber to do.
The AGM also elected new council members and he said they were chosen to steer the Chamber forward for the next year.
Holder was confident that the foundation on which the GCCI stands will not be eroded but built on.
The GCCI mission to “serve as the voice of businesses; promote and protect the interests of members by fostering ethical practices in commerce, trade and services, through advocacy, training, education and ensuring adherence to quality.”
It is also to be an assertive, vibrant organisation and the pre-eminent source of business information by 2012, through different initiatives.