–President Ali tells business community
–says gov’t prepared to create a team to help businesses prepare plans, conduct feasibility studies

PRESIDENT Dr. Irfaan Ali on Friday said that his government will continue to set the stage for investments and incessant growth in the private sector.
Dr. Ali, in his address to stakeholders at the Georgetown Chamber of Commerce and Industry’s (GCCI)’s Business Development Forum, said the government has a responsibility for opening up opportunities, but the onus is also on businesses to be prepared to take advantage of the opportunities that are provided.

In highlighting one instance where businesses were not ready for opportunities, President Ali said that the government brought a group of business investors from Saudi Arabia ready to form partnerships, but many sections of the private sector were not ready or prepared with business or feasibility plans.
He added that a similar situation occurred recently, when a group of Korean investors came to Guyana.

In light of this, the Head of State told private sector stakeholders that he is ready to put a team together to assist businesses with plans and feasibility studies, so that they will be prepared for future investments.
“I say this to you to say you are pushing at open doors,” the Head of state said.

He went on to say that the government has gone above and beyond to foster business developments in the country, noting that there are now more than 420 new small contractors working along with the government on various projects.

“For the first half of this year alone, ExxonMobil has procured goods and services of in excess of US$127 million from local suppliers,” Dr. Ali said.

While there were complaints about businesses not having access to finance, the President said that he will put together a team of professionals to work along with businesses to ensure that they are prepared before going to the banks for financing.
Dr. Ali related that it is easy to be critical; however, persons must change the way they think, act and behave in order to find real solutions.
Further, he said that the government will continue to invest in technology and other sectors outside of the oil-and-gas sector.

Although the country is diverse and has many areas to invest in, Dr. Ali encouraged persons to narrow it down by doing simple surveys.

He added, however, that it gets technical when deciding what to with the data coming out of the surveys, and what measures and programmes are implemented to transform the data into action.
President of the GCCI, Timothy Tucker said that the business forum provides a platform for stakeholders to discuss a wide range of ideas, solutions and possibilities for growth and development.

The two-day forum is expected to explore five thematic areas: Access to financing, improving standards and quality, doing business in Guyana, and marketing fundamentals.
In relation to access to financing, Tucker said that the GCCI has been at the forefront of advocating for access to finance, as it realises that it is the only way that Guyanese businesses could adequately utilise the Local Content Act to its benefit.

Even so, he admitted that the business environment is getting better, because the government has been providing tremendous opportunities to potential and existing businesses.

Tucker said that the rapid rate of development leaves no room for certain industries to be taken for granted, noting that the private sector must work harder to commercialise agriculture and many other industries that exist.
“We must find the opportunity in our trade agreements, both multilateral and bilateral, and we must utilise every aspect, internally and externally,” he said.