Dookhoo acknowledges benefits from PSC, Government collaboration
RECENTLY elected Chairman of the Private Sector Commission (PSC), Mr. Ramesh Dookhoo said, last Thursday, that the Inter-American Development Bank (IDB) led programme, aimed at improving competitiveness in the Caribbean, is a welcome initiative.
“It is an opportunity that is coming at the right time,” he said of the US$32.55M ‘Compete Caribbean’ that is a joint undertaking by the IDB, the Canadian International Development Agency (CIDA) and the British Department for International Development (DIFID).
It is expected to provide technical assistance and investment funding to a variety of activities geared at establishing productive development policies, implementing business climate reforms, clustering initiatives and small and medium-size enterprises (SMEs) throughout the region.
Apart from in Guyana, it will be implemented in Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominican Republic, Dominica, Grenada, Haiti, Jamaica, Saint Lucia, St. Kitts and Nevis, St. Vincent and the Grenadines, Suriname and Trinidad and Tobago.
The IDB expects it to contribute to an increase in non-traditional exports, from the average 2.2 per cent, in recent years, to five per cent of Gross Domestic Product (GDP), by 2017; create 8,000 new jobs and make measurable advance in gender equality indicators.
Additionally, the IDB said that, all 15 beneficiary countries are to advance positions in the global rankings, measuring competitiveness and business climate.
Dookhoo observed that enhanced competitiveness is important for Guyana, as well as the rest of the Caribbean.
“The PSC is already a part of a CIDA competitiveness project and will play its role in the Guyana leg of this new venture,” he affirmed.
Dookhoo explained that, with CIDA support, the PSC has been able to strengthen its position on the critical issue of fostering an improved business climate within the framework of Guyana’s National Competitiveness Strategy (NCS).
At the recent Annual General Meeting (AGM) of the PSC, he expressed the view that Guyana’s path to development is enshrined in the NCS.
According to him, the NCS sets out what needs to be done to improve the business climate locally, which is key to providing the opportunities needed to allow entrepreneurship, innovation, job creation and export competitiveness to thrive.

Critical

“The implementation of the strategy is critical for the success of all our industries and sectors, for small businesses as well as large businesses,” he maintained.
Dookhoo said, over the past 12 month, the PSC has continued collaboration with the National Competitiveness Strategy Unit (NCSU) to drive NCS priority actions.
Against that background, he called on all private sector associations to actively engage the NCS and use it as a basis on which to build a cooperative and constructive relationship with the Government, over the next year.
Dookhoo said the PSC acknowledges and endorses the success of a number of thematic public/private bodies dialogue.
He said it is healthy and strong in a wide range of thematic areas under the NCS, ranging from trade transactions to roads, ports and air infrastructure to energy, small business support, corporate governance, legislation and procedural reviews competition policy.
Dookhoo agreed that the framework for private/public discourse needs to be fostered and strengthened and said the primary way in which it to be done is through quarterly meetings of the National Competitiveness Council.
He said the PSC recognises the goals common to itself and the Government and will continue to follow through with the collaborative and productive relationship developed between them.
Dookhoo noted that ‘Compete Caribbean’ will be executed in close collaboration with regional institutions, governments and private sector entities.