FINANCE Minister, Dr. Ashni Singh has assured members of the Guyana Manufacturers and Services Association (GMSA) that government will continue to work closely with the Private Sector to ensure that the long term   viability and sustainability of the economy is preserved and protected.

He acknowledged that the continued growth and dynamism of the Guyanese economy and, by extension, the expansion of members of the GMSA required continued macro-economic stability.
“As a Finance Minister, I would like to announce tax cuts, steep increases in social spending and do things which will gain me and the President of Guyana some good popularity in the short term. But these popular choices will, inevitably, impact on the long term integrity of the Guyanese economy.
“So, when you hear someone coming up with a quick fix, a no brainer, you must know that these would come at the expense of the long term integrity of the Guyanese economy,” he stated at the GMSA 17th annual Awards Dinner at the Pegasus Hotel last Thursday night.
The three hours long programme included a presentation entitled ‘The year in review’ by President of the GMSA, Mr. Mohindra Chand and presentation of the awards to members for outstanding achievements in the field of business.
It also featured the posthumous honouring of the late owner of Denmor Garment Factory, Mr. Dennis Morgan.

Balance
Singh said it had taken a great deal of prudence and responsible policy making, by the government, to be able to balance the short term wants and needs of the country with long term imperatives and government remained committed to ensuring the soundness of the macro-economic framework which had served so well to date.
In his 2012 review, Chand disclosed that the GMSA is one of the leading and recognised business support organisations in the country and it is structured to serve as a critical link between the Manufacturing and Services Sectors and the relevant stakeholders, inclusive of governmental, regulatory and funding agencies, the media, non-governmental agencies and other import stakeholders.
The GMSA comprises 115 members and is managed by a 21-member Board of Directors and Chand identified several major issues requiring policy interventions for the continued growth and expansion of businesses in the various sectors which are represented in it.
Among these is the need for a more aggressive pursuit of export market opportunities for products and services that are included in the Free Trade Agreements with the European Union, Canada etc. and the Partial Scope Agreements with Brazil, China and other developed countries.
Other necessities suggested are the intensification of industrial development through the promotion of in-country joint ventures and partnerships; undertaking of a comprehensive diagnosis of the manufacturing environment; its strengths, weaknesses, opportunities and threats (a SWOT analysis) to determine which goods are cost effective to manufacture; the possibility of substantial reductions in energy costs for electricity provided by Guyana Power & Light (GPL) and the implementation, by the Customs Administration of the Single Window Automated Processing System (SWAPS) which will, substantially, reduce trade transaction costs and time.
Awardees

The awardees were as follows:
* His Excellency, the President’s Award for Export Achievement – Sterling Products Ltd, for consistent growth and export expansion in the demanding Caribbean Markets;
* Award for Attaining Verified Legal Origin (VLO) international certification – Barama Company Ltd;
* Award for upgrading Food Safety Management System from the soft drink plant to the more inclusive international Food Safety System Certification (FSSC) 22000 – Banks DIH Ltd;
* Award for improving and expanding international marketing service and involvement in community development – Qualfon (Guyana) Inc.;
* Award for breaking new ground in transportation logistics- Total Air Cargo (Amerijet);

* Award for extending the range of services to the mining, forestry and wood products industries and introducing new and innovative technologies and methodologies – Farfan & Mendes/Mines Services Ltd.;

* EMPRETECO Award for application of the EMPRETEC Entrepreneurship Principles to Business Expansion and Community Development – Barbara Dublin-Peterkin B’s Beauty Circle & Naturopathic Centre, Visions of Excellence Personal Development Centre and B&D Farm Complex;

* For unprecedented growth and immense contribution to the development of the Fast Food Sector  – Camex Restaurants Ltd.;

* For introducing new and innovative technologies and methodologies in wood products manufacturing and international market penetration- Superior Shingles & Wood Products.;

* For business expansion and immense contribution to
the development of the Agro-Processing Sector  –
Prestige Manufacturing & Bottling Enterprise;

* Award (posthumous) for pioneering and developing
the Textiles and Sewn Goods Industry – Dennis
Morgan/Denmor Garment Manufacturers;

* Award for continuous expansion and market penetration for Guyanese Fashion Design- Sonia Noel, Mariska’s Fashions and
* Lifetime Achievement Award – L. Seepersaud Maraj & Sons Ltd.