THE liberalisation of Guyana’s telecommunication market is now closer with the signing of a Memorandum of Understanding (MOU) between the government and the Guyana Telephone and Telegraph Company (GTT).

According to a joint release from the stakeholders, the recent signing, though non-binding, is a major step towards liberalisation and will see the continuation of discussions on all outstanding issues with the aim of reaching a binding agreement.

In July 2016, the government passed the Telecommunication (Amendment) Bill to liberalise the Telecoms sector by ending the monopoly which GTT had enjoyed for over 25 years.
However, liberalisation has been delayed for some time to cater for the ironing out of GTT’s approximately US $44 million in taxes owed to the Guyana Revenue Authority (GRA) and for other discussions.

Liberalisation will ensure an open and competitive telecommunication sector as more investors will be attracted.

Telecommunication Minister Cathy Hughes has also indicated on numerous occasions that this will not only mean an increase in the availability of internet access, but will see Guyanese receiving cheaper options, better quality and advanced telecommunications services.

At a past press briefing, she had revealed that over 20 companies, both local and overseas, have already expressed an interest in getting involved in the Telecommunication industry once liberalisation is completed.

Meanwhile, back in 2018, GTT had assured the government and the Public Utilities Commission (PUC) that it remains committed to the earliest conclusion of negotiations with government regarding liberalisation of the sector.

GTT’s competitor, DIGICEL, has also expressed its excitement about the future after liberalisation with its Chief Executive Officer (CEO), in 2016, stating that all parties stand to benefit.

“After many years of delays, this government has brought the country one step closer to achieving a fully open telecommunication market. While more work needs to be done, the government is committed to continuing discussions and completing the process of liberalization for the citizens of Guyana,” said Minister Hughes.

Meanwhile, GTT Chief Executive Officer (CEO) Justin Nedd said: “I am very pleased we have reached this milestone. GTT fully supports an open and transparent telecommunications market in Guyana and the opportunities it will provide for Guyana’s citizens and our customers. We look forward to further discussions with the government to reach an agreement on the issues that remain outstanding.”