–through entrepreneurship, other lucrative opportunities, Dr Singh says

TARGETED policies and careful planning have resulted in citizens being able to access and explore a plethora of new entrepreneurial opportunities that exist.
This was according to Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh, during his presentation of Budget 2024 to the National Assembly, on Monday.

Creating new avenues for Guyanese to have the ability to build and accumulate household income has been a focus of the People’s Progressive Party/Civic (PPP/C) since being elected to office in 2020.

The high demand for goods and services is a result of the fusion of the rapid expansion of both private and public investments, job creation and the increases in disposable income.
Dr Singh explained: “Increased demand for goods and services means more business opportunities for both current and potential producers and suppliers.”

Despite the narrow understanding in some circles, of how the massive infrastructural projects being undertaken could significantly create a better life for Guyanese, the senior minister said the enhancement of one’s asset value and household wealth will increase because of this.

“…All of these investments translate immediately to increased asset value and balance-sheet enhancement for all householders in the communities concerned. Put simply, these public investments enhance private wealth

“…We are building a Guyana where every single Guyanese family will be in a position to meet their most basic needs relative to a minimum threshold required to enjoy a decent life,” Dr Singh remarked.

He related, however, that one cannot function properly in the business world without adhering to and adopting the international manner in which businesses operate.

“If we wish to be part of that system, we must adhere to those norms and practices too. This takes on even greater significance, if we wish to enter joint ventures and strategic partnerships with international counterparts to take advantage of local content opportunities or, indeed, to do business with anybody else in the world,” Dr Singh said.

As he echoed the universal call to end hunger, have quality healthcare, ample educational and skills-training opportunities, potable water and sanitation; and recreational facilities to support healthy living, the senior minister said that the threshold should be viewed with multi-dimensional lens and not narrow ones.

Dr Singh related: “It goes without saying that our government’s entire policy agenda is built around ensuring that we put in place, capabilities across the sectors to deliver on all of these expectations. The most cursory of glances at our 2020 manifesto, and our annual budgets since we assumed office, would make this abundantly clear.”

While deeming it long-term “economic empowerment,” the minister spared no effort to underscore that the PPP/C Government is working assiduously to foster a Guyana where citizens will have the opportunity to establish, build and accumulate household wealth through their own efforts.

In order to foster an environment like this, Dr Singh remarked that the government is aiming to eliminate barriers that are hidering Guyanese from attaining these new heights where entrepreneurial activities are abundant across all sectors of economic ventures.

“In this regard, in this new Guyana, it will be imperative that our population becomes more entrepreneurial in its outlook, equipped to both identify and create opportunities, prepared to take calculated risks, and able to manage those risks and keep exposure within tolerable levels, while maximising returns,” Dr Singh stressed.