–resilience of business in pandemic, preservation of democracy celebrated at GSMA awards

By Navendra Seoraj

IN a year when profits of businesses dried up, a global pandemic plagued the world, and Guyana’s progress was obstructed by a protracted electoral process, resilience remained important, and so did the drive for preserving democracy.

Persons, businesses and international partners who “stayed the course” and portrayed those and other qualities, were recognised by the Guyana Manufacturing and Services Association (GMSA) at its 25th annual awards ceremony at State House on Wednesday.

Stakeholders believe that the accolades were warranted because, evidently, reduced spending in the local economy, which has been constrained by the necessary novel coronavirus (COVID-19) prevention measures, has erased any semblance of ‘decent’ profits which would have been recorded by businesses prior to the dreaded pandemic.
The pandemic, coupled with the protracted March 2, 2020, General and Regional Elections had bound the local economy, so businesses had to “think outside of the box” in order to sustain their operations, and simultaneously remain relevant today amidst growing attention to Guyana’s economy, which, despite many adversities, is expected to boom in the coming years.
Among the businesses which were recognised for their sustained growth and development and innovation are: Agro Services Inc.; Bulkan Timber Works Inc.; Pleasureable Flavours; Fibre Tech Industrial Plastics; Triple ‘C’ Consultancy; Comfort Sleep; Action Coach Guyana; Sterling Products Limited; and the Demerara Distillers Limited.
Two individuals, Dr. Dianna DaSilva-Glasgow and Mohindra Chand were also recipients of awards.

“I applaud our local manufacturers and service providers; their commitment to nation-building is incontestable. I assure them that my government is fashioning a transformative economic agenda that will allow them to continue to stake their claim to national development,” said President, Dr. Irfaan Ali in his address at the award ceremony.
The President said this has been a difficult year for the entire world; probably the most difficult year in the past three decades.
“The pandemic has led to business contraction and jobs losses, but these, too, shall pass. I am supremely confident that our economy will rebound and emerge stronger and more robust in the new year and beyond,” said the Head of State.

The President is confident that the local entrepreneurial class has an instinct for seizing opportunities, as they have shown Guyana how to survive in difficult times,and have demonstrated the acumen to thrive when the “tide of fortune turns for the better”.

In further expressing his confidence in the local private sector, President Ali said: “The captains of enterprise possess a sixth sense of better times ahead. Those times are upon us; development will leap-frog over the next decade. Our manufacturers and service providers will be integral to the writing of ?this glorious chapter in our country’s history.”

DEMOCRACY
Critical, however, to the advancement of growth and development is democracy. And the President, during a recent visit to Suriname, had said: “Democracy helps to unlock the latent potential of our economies and to boost investor confidence. Indeed, Guyana and Suriname are totally perched to benefit from accelerated growth and development, not only through the exploitation of our natural resources, but through the abundant potential that lies in agriculture, value added, tourism and expanded trade.”
As was reported in various sections of the media and said by various stakeholders, this critical element to development was threatened after Polling Day on March 2.
A slew of legal challenges following the elections, resulted in a five-month impasse, which ended on August 2, 2020 with the People’s Progressive Party/Civic (PPP/C) unseating the former A Partnership for National Unity + Alliance For Change (APNU+AFC) coalition.
Those legal challenges, compounded by what was referred to as glaring attempts to alter the results of the election, were, however, seen as an obstruction to the process and a threat to democracy.

Stakeholders have said that had it not been for resolute Guyanese and international intervention, injustice would have prevailed.
It is for this reason that the GMSA awarded British High Commissioner Gregory Quinn; Canadian High Commissioner Lilian Chatterjee; US Ambassador Sarah-Ann Lynch; and European Union (EU) Ambassador to Guyana Fernando Ponz Canto for their resolute stance on the preservation of democracy following the March 2, 2020 elections.
President of the GMSA, Shyam Nokta, in his presentation at the ceremony, applauded the foreign envoys for their efforts in the preservation of the rule of law and maintenance of democracy in Guyana.

“I wish to also put on record the GMSA’s appreciation to the representatives of the ABC&E countries: Ambassador Sarah-Ann Lynch; High Commissioner Greg Quinn; High Commissioner Lilian Chatterjee and Ambassador Fernando Canto for the unwavering stand you took to ensure democracy prevailed in Guyana. Thank you,” said Nokta.

COLLECTIVE EFFORT
The GMSA President also recognised the private sector for their firm position on matters during those “trying times”. In the face of adversity, the private sector, civil society and other stakeholders joined forces to ensure that Guyana’s democracy is preserved and protected, said Nokta.
Although the road to recovery seems long, the government has taken steps to rejuvenate ailing sectors and restore stability, but has maintained focus on safeguarding the health of every Guyanese through various control measures.

President Ali had committed to getting the economy back on track, starting with the implementation of measures and projects included in the $329.5 billion 2020 Budget.
This Budget includes a $25,000 cash transfer to every household; a $15,000 cash grant and a $4,000 uniform voucher for schoolchildren; $800 million for the Amerindian Development Fund; $5 billion for the Guyana Sugar Corporation (GuySuCo); a two-week, tax-free bonus for members of the Joint Services; and $150 million for frontline workers, among many other benefits.
President Ali had also said that the Government, after re-prioritising and re-programming fiscal measures, has managed to add $20 billion in relief to the “pockets” of Guyanese at a time when the nation is faced with the effects of COVID-19, and the recently concluded protracted electoral process. The conduits of relief include revised tax measures and sweeping incentives.
The broad objectives of those measures which feature in Government’s emergency budget are to stimulate economic activity; get persons back to work; increase Guyana’s productive capacity; reduce the cost of doing business; improve efficiency; and facilitate growth and development of businesses.

The private sector is expected to play an integral role in driving economic growth, but the extraordinary circumstances created by COVID-19 has been discouraging in some cases, said stakeholders from the sector.