– by developing their tourism, agriculture sectors

MINISTER of Finance, Winston Jordan challenged Lindeners to transform Linden’s economic landscape by capitalising on the endless opportunities available within the town.
Minister Jordan, at the time, was delivering the keynote address during the town’s inaugural Business Forum held on Thursday at the Watooka Guest House.
He said Linden could be placed on a trajectory of real economic growth, if the Linden Chamber of Industry, Commerce and Development – the organiser of the forum – and other stakeholders exploit the town’s resources.

Minister Jordan said that in 2020 the Government will roll out a number of infrastructural projects to assist the town in transforming its economic landscape.

As he addressed the gathering of chamber executives, regional officials, local and foreign investors and Linden business owners amongst others, Minister Jordan identified the town’s Tourism product as having the greatest potential for growth.
“Your government recognises the importance of tourism in the development process, and has been putting the necessary infrastructure and policies in place to promote the development of the tourism sector in Guyana. Linden is strategically located and endowed with tourism products to provide services at the international standards,” the Finance Minister said.

With the oil industry on the horizon, it is expected that there would be an influx of tourists in the town, and on that basis, the Minister urged the officials to take advantage of this niche market. For this to happen, they need to create linkages with other types of businesses such as the hospitality and technology industries, he posited.
Second on Minister Jordan’s list was the development of the Agriculture sector, which he said offers great potential for both raw and value added production.
“Our private sector partners, the diaspora and our young entrepreneurs must bring an invigorating blend of urgency and pragmatism, a ‘can do attitude’, and a willingness to roll up their sleeves to get things moving. Your energy and enthusiasm, and your innovative approach can help to discover what others have overlooked, that is, the vast potential and promise of Linden and the wider region,” he said.

To facilitate the growth of these two sectors, his government, Minister Jordan said, has put together a range of exciting investment projects for Linden, realising that to achieve this objective, there must be collaboration between the government and the business community.

These include the Linden-Lethem road project, construction of a new Mackenzie-Wismar Bridge which is expected to start in 2020, and the upgrading of the Linden-Soesdyke Highway including the installation of lights, amongst other things.

On a wider note, the finance minister informed the audience on the strides made nationally, to ensure there was economic growth in Guyana, which has been recognised internationally. Through a bold and dynamic approach towards economic reforms, Guyana has recorded positive growth over the last four years, with 4.1 per cent being the highest recorded. This growth was spread across most sectors. According to NASDAQ, the second-largest stock exchange in the world, Guyana has the fastest growing economy globally. “With a GDP size of $3.63 billion (2018 Rank: 160), a growth rate of 4.1 per cent in 2018 and 4.6 per cent in 2019, Guyana’s economy is expected to grow by 33.5 per cent and 22.9 per cent in 2020 and 2021 respectively,” Jordan outlined.

This administration, he said, over the last 4 years, has been constantly reforming and adjusting it policies, rules and regulations to make the investment climate more favourable, predictable, facilitative and friendly. “In short, we want to establish a welcoming economic environment for all, not a select few,” Minister Jordan said.

Among the notable achievements are the comprehensive reform and simplification of the tax system to ensure a friendlier business environment, particularly the implementation of several concessions. With all the strides made by the government, Minister Jordan said it is time to shut down naysayers who are peddling negativity to the public. “With this great outlook for our country, it is truly amazing that we have those in this country who continue to peddle misinformation about the state of our economy and of our future. For too long, we have allowed a small, but influential group, to paint a negative picture of our country. It is time we change that narrative and begin to champion that panoramic view that shows the immense potential of this country, in general, and Linden, in particular,” he said.
He further reminded the Linden Chamber of its critical role to not let these opportunities go to waste. “I expect that you will stimulate and galvanise economic development by creating and developing business opportunities and job creation,” he said. He also urged them to continue addressing economic and social issues that constrain greater progress and development in Linden.

Thursday was the last of the three-day forum which saw presentations from a wide cross section of experts, officials and stakeholders amongst others. Benefiting from the forum were scores of existing and potential entrepreneurs residing in Linden, who are now in a position to better expand or develop their businesses while staying connected with financial institutions, agencies and business owners residing abroad.

The forum themed ‘New Horizons, New Opportunities in 2019,’ headlined the inaugural Linden Business Week 2019, which was coordinated by the Linden Chamber of Industry, Commerce and Development (LCICD) and will climax this weekend with the annual Exhibition and Trade Fair. The forum was intended to attract direct investment from foreign investors and government agencies into the town, by giving them an opportunity to scope its investment potential, while strengthening the efforts of local entrepreneurs, edifying potential entrepreneurs and involving stakeholders in the entire process of transforming Linden into an economic hub.

As the oil and gas industry gains momentum, the chamber aims to prepare the town to benefit from the plethora of investment opportunities that will come its way and are seeking avenues, such as the forum, to start the conversation on how each and every Lindener must get involved.

Financial lending institutions and business registration entities also presented on how Lindeners can access finance and get their businesses registered with all the necessary legal documentation. The exposition will give Linden businesses as well as other businesses across the country, the opportunity to showcase the services and products offered, especially those locally made.