MINISTER of Tourism, Industry and Commerce, Oneidge Walrond, has said that, in the coming year, over 700 small businesses are set to benefit from grants to enhance their capacity.

She made the announcement on Tuesday, during the launch of the Who’s Who in Guyana Magazine, at the residence of the British High Commissioner, Bel Air.

“Since returning to office, government has already assisted 700 small businesses with grants to enhance capacity. I am pleased to say that an equal, and possibly higher number, will benefit in 2022. We will continue to offer training and support to our small businesses so that their capacity to undertake larger projects is enhanced,” Minister Walrond related.

She said the government is proactively working to improve the ease of doing business by reforming policies.
“These policies include funding of major infrastructural works, regulatory reform and investing in human capacity,” Minister Walrond said.

With respect to regulatory reforms, the minister said the government continues to enhance systems and processes to align them with modern, global expectations of the business environment.

To this end, she said single windows for trade and construction permits remains a key priority of the government, as it seeks to significantly reduce the time and cost of doing business.

The minister commended the production of the Who’s Who in Guyana Magazine, noting that it gives valuable information to the international community about local businesses.

It also encourages investment which, she noted, is something the government is seeking for the agriculture, manufacturing, tourism and financial sectors, and other services, for a truly diversified economy.

“The fact that the Who’s Who publication covers all these sectors and indeed many more is testimony to the breadth of opportunity that awaits the serious investor here in Guyana.

“You will notice that I do not differentiate between foreign and local investment, for we believe that there is no sustainable development without deep and meaningful participation in the economy by local businesses,” Minister Walrond reasoned.

The minister expressed her desire to see local businesses become globally competitive, and said the government stands ready to work with anyone committed to Guyana’s sustainable development.

(DPI)