Finance Minister says… ‘There is a quiet ICT revolution taking place in Guyana’ – This is no accident but deliberate result of Gov’t action to diversify economy

THERE is a quiet revolution taking place in the information and communication technology (ICT) sector in Guyana; and this is by no means an accident, but is rather a deliberate result of action taken by the Government to diversify Guyana’s economy.
These sentiments were expressed yesterday by Finance Minister Dr. Ashni Singh, who was at the time addressing attendees at the sod-turning ceremony of the new Qualfon Contact Centre Campus at Providence, East Bank Demerara.

altDr Singh noted that the Guyanese economy has grown by 3.9 percent in the first half of 2013, in the face of an extremely adverse and challenging external environment, and amidst challenging domestic circumstances.
He stressed that Government must not solely be credited for this accomplishment, but the private sector of Guyana must also share the credit, as well as foreign and domestic investors.
Dr Singh said the fact that real output is growing and has  continued to grow is testimony to the efforts of the private sector, foreign investors, and government’s efforts.

The minister said that much has been achieved with respect to diversification of the productive base in Guyana,
Noting that, not so long ago, the overall performance of the Guyanese economy was driven almost entirely by the performance of a few dominant sectors, Dr Singh said: “Not so long ago, if sugar encountered a difficult year, or rice encountered a difficult year, or bauxite encountered a difficult year, inevitably, the economy as a whole would encounter difficulty.”

He emphasised that the Government of Guyana recognises the intrinsic vulnerability of an excessive dependence on a few sectors, and the need for the country to be lifted out of those vulnerable circumstances.
For this reason, he said Government has embarked on a very deliberate path to diversify the sources of growth, and added that tremendous progress has been achieved in this regard.
Moreover, the minister related that the revolution in the ICT sector was no accident, but was rather the result of recognising the need for diversification and deliberate policy intervention in this regard.  Also, it was deliberately employing significant efforts to promote Guyana as an investment destination.

He advised that a very coherent set of policies aimed at ensuring Guyana is attractive to this sector in particular has been assembled, and all of these pieces come together to ensure that Guyana has an IT-literate society, and one that is properly and adequately equipped to succeed in the modern world.
Moreover, Dr Singh said he is pleased that the private sector, both international and domestic, had responded to this policy effort.
He alluded to a recent speech by the Mexican Ambassador who had pointed out that the largest private employer in Guyana is a Mexican company — Qualfon, whose parent company is in Mexico. Qualfon came to Guyana a little less than a decade ago, has injected millions of US dollars into the local economy, has created as much as 2,000 jobs for young Guyanese, and is now embarking on a multi-million-dollar investment which will see creation of another 6,000 jobs.
He added that Qualfon has not only improved the lives of the 1,500 persons it currently employs, but the families who are supported by Qualfon employees, and the holders of the hundreds of indirect jobs that have been created.
Dr Singh stressed that Qualfon is not in Guyana because “they have no place to go, or because they want to be charitable to Guyana. Qualfon is here because they recognise that Guyana is a good place to invest in. They recognise that Guyana is good for business,” he said.
Minister Singh informed the Qualfon executives that Government greatly values their investment, and is “anxious” for the jobs to be created by this new centre. He also promised to continuously follow up with Qualfon the progress of the project and the employment opportunities that will come with it.

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