By Lisa Hamilton

GUYANESE can look forward to a greater involvement of the Private Sector under the People’s Progressive Party/Civic (PPP/C) Administration which will help to boost the development of Guyana and broaden areas of international cooperation.

This promise of the PPP/C Government is already being fulfilled with talks commencing with the business community, just two days after President Irfaan Ali took the Oath of Office on August 2, 2020.

The President and Transition Team met with scores from the sector where areas of mutual interest were discussed. Then, on August 8, at his inauguration at the National Cultural Centre (NCC), President Ali said that his government looks forward to fostering a collaborative and consultative relationship with the private sector which was also active in the fight for democracy during the elections.

“The private sector showed, beyond any shadow of a doubt, that it cares about the political and social stability of our country and its prospects for economic prosperity. My Government will work in partnership with the private sector to make Guyana a center for economic activity that will radiate throughout this hemisphere and beyond,” he said.

When the COVID-19 pandemic made its way to Guyana in March, 2020, it placed many working within the private sector out of jobs, crippled some establishments that were forced to close their doors and ran many other businesses into debt.

Due to the prolonged elections from March 2 to August 2 which prevented the passage of a 2020 Budget, Guyanese were made aware that governmental support in the form of stimulus packages would be stalled. While hampers were distributed by the Civil Defence Commission (CDC), the private sector and civil society, many Guyanese still decried a lack of sufficient support.

President Ali said, on Saturday, that, with the help of the business community, his government intends to address these needs swiftly to see the Guyanese populace back on its feet.

“We have already started to examine, from a fiscal perspective, the extent of support we can give to the private sector to stimulate a resumption of their economic activities, especially putting back to work people who have been dislodged because of the COVID-19 pandemic,” he said.

Immediate focus is being placed on the establishment of a Single-Window Clearance System to reduce bureaucracy and the cost of doing business. Guyana was ranked 134 in World Bank’s Doing Business 2020 Report out of 190 countries which is not favourable.

President Ali said that the Single-Window Clearance System will make it easier for local and foreign investors to start-up and establish businesses in the economy which is forecast to grow by 52.8 per cent this year.

Immediately after his inauguration, discussions commenced with new President of Suriname, Chandrikapersad Santokhi for areas of collaboration with the Guyanese government, along with the private sector, marking another avenue for involvement for the business community. The meeting was held at State House on Sunday, August 9, and saw scores of representatives from the business community.

In a brief address to the gathering, President Ali iterated: “One of the priorities of President Santokhi is not only to have a strengthened relationship at the government level but also to have strengthened relationship at the private sector level.”

Plans are now being set in motion for the establishment of a joint Private Sector Commission between the neighbouring countries for joint ventures in areas of common interest. As such, at the event, President Ali urged the local private sector to make use of the valuable time of President Santokhi in putting forward their ideas. It is expected that many more such engagements will be had with the strategic international partners of Guyana.