–regional leaders to discuss strategies for inclusive economic growth at October event

AS Guyana continues to experience unprecedented growth, financing for success is imperative in terms of investment and development of a capital market for a more integrated and resilient regional economy.
This is according to Managing Director of the Jamaica Stock Exchange, Dr. Marlene Street-Forrest during an exclusive interview with the Guyana Chronicle.
She discussed the upcoming regional conference on investment and capital markets, set to be held in Guyana on October 8-9, 2024 at the Pegasus Suites and Corporate Centre here in Georgetown.
With the theme, “Financing for Success: Where Passion, Prosperity and People Align”, the conference aims to foster the growth of Guyana’s capital markets, while promoting regional integration and investment opportunities.
“Financing for success is imperative in terms of the growth and development of a capital market,” Dr. Street-Forrest said.

She delved into the core objectives of the conference, which seeks to bring together key players from across the Caribbean and beyond.
“It is about wealth creation, and having that sort of resource for people to improve their lives and businesses,” she said.

The conference, which will be held in Guyana for the second time, will cover a wide range of topics crucial to the development of Guyana and the broader Caribbean region, focusing on the alignment of financing, passion, prosperity, and people.
Dr. Forrest highlighted the importance of developing a robust capital market in Guyana, which is essential for both businesses and individuals.
“When we are talking about prosperity, people are at the centre of it. It must be aligned,” she said, noting that the conference will explore how investors could benefit from a developed capital market and how businesses can access various forms of capital.

ECOMONIC BOOM
One of the key sessions on the first day of the conference will feature Guyana’s Finance and Public Service Minister, Dr. Ashni Singh, who will speak on the theme, “Budgeting: The Pillar for Success, People, and Culture”.
According to Dr. Street-Forrest, this session is crucial, as it aligns with the overall development of Guyana, where the people must be central to the country’s continuing economic boom.
She said that the minister’s insights will be pivotal to understanding how budgetting and financing can contribute to the prosperity of both individuals and businesses.
The conference will also feature discussions led by broker-dealers and sponsors on how businesses can access capital for growth and expansion.
“In many countries where the capital market is not developed, it is lopsided, with access mainly for loan capital,” Dr. Street- Forrest pointed out.

However, the conference will highlight the need for a more balanced approach, where businesses can tap into various forms of financing to fuel their growth.
“We’ll be talking about accessing a myriad of capital, loan, capital, equity capital, a mix of both of these, mezzanine financing, all the types of financing that one can do in order to grow and develop a business,” she said.
Another aspect of the conference is the focus on democratising Guyana’s natural resources. Dr. Street-Forrest said that the discussions would not be limited to the oil sector, which has been the primary focus in recent years.
Instead, she said, the conference will explore opportunities in other sectors, ensuring that the benefits of Guyana’s wealth are widely distributed and accessible to all.
Street-Forrest further elaborated on the conference’s agenda, which is designed to facilitate discussions on the growth of various sectors in Guyana.
“As sectors grow, economies grow, and as economies grow and we do the right things, then the people benefit, whether from the standpoint of them as an investor or from the standpoint of them as a business,” she said.
The conference aims to ensure that different sectors are represented in the development of the capital market, creating a more dynamic and inclusive economic environment.
The conference will also feature a variety of distinguished speakers, including President of the Georgetown Chamber of Commerce and Industry (GCCI), Kester Hutson; Managing Director and Head of EM Fixed Income Wealth Management at Jefferies, Gregory Fisher; and CEO of Trinidad and Tobago Stock Exchange Limited Eva Mitchell.

These speakers, along with others, will share their experiences and best practices, offering valuable insights that can be replicated in different markets to generate investment opportunities and foster sector development.
One of the key outcomes expected from the conference is the signing of a Memorandum of Understanding (MOU) between the Jamaica Stock Exchange and the Guyana Association of Securities Companies and Intermediaries Inc.
This MOU will signify a step towards greater connectivity and integration of stock markets across the Caribbean, creating a unified trading platform that will attract more global players to the region.
Guyana, with its rich natural resources and rapidly growing economy, is an ideal location for this conference.

As Dr. Street-Forrest said: “Guyana is an extraordinary Caribbean country with a rich democracy and an extraordinary topography dominated by rainforest, large mountain ranges, and exotic waterfalls.”
The country’s recent oil discoveries have fuelled phenomenal economic growth, making it a focal point for investors and businesses alike.
Dr. Street-Forrest expressed confidence that the conference would be a significant milestone in the development of Guyana’s capital markets.
“We expect that this year will be better, that this will bode well for the development, the discussion, the training, the just knocking off each other will bode well for the development of the capital markets in Guyana,” she said.
She related that the conference is not just an event but a continuation of ongoing efforts to build a more inclusive and prosperous future for Guyana and the Caribbean region.