– to improve business environment
The maintenance of a sound and stable macro-economic environment reinforced by a strong legislative framework and financial sector has facilitated significant improvements in the business environment. Through the continued modernisation and strengthening of the capacity of key institutions, Government will continue to ensure that this is maintained.
This year, various operational areas of the Guyana Revenue Authority (GRA) will continue to be modernised with the completion of a warehouse, and the operationalising of the container scanner, as well as expansion of regional tax offices.
These are expected to significantly improve operational efficiency and taxpayer satisfaction, while enhancing the revenue generation capability of the Authority. Meanwhile, consideration will continue to be given to options for tax reform and further strengthening of the tax administration.
Under the auspices of the National Competitiveness Council chaired by President Bharrat Jagdeo, work advanced on a number of initiatives last year aimed at removing obstacles of competitiveness.
Progress was made with the Deeds Registry to digitalise business registration and incorporation records last year. This year, the networking of an information system with the Central Deeds Registry, its sub-Registries, the National Insurance Scheme and the GRA will be completed, facilitating online filing of registration, renewal of registration and same day registration of businesses.
A single window processing system for which $146.8 million has been allocated, will effect the linking of all licensing bodies with the GRA, with a view to reducing the time taken to process trade transactions. Taken together, these reforms will significantly reduce the time and cost of doing business in Guyana.
The reforms and modernisation of the GRA also continued last year with the completion of the restructuring of GRA along functional lines, further development of the integrated tax administration system and the alignment of various business processes, procurement of computers and other equipment including a scanner, the purchase of patrol boats and establishment of a Marine Operations Unit to enhance enforcement operations, the establishment of checkpoints at Kurupukari, Crab Island and Charity, along with the establishment of a fully integrated regional tax office at Parika.
Additionally, in this year’s budget, $75M has been allocated for the establishment and operationalising of the Competition and Consumer Protection Commission that will enable the establishment of a functional secretariat.
Meanwhile, small business development is well established as a most effective means of fighting poverty and improving lives, and Government has implemented a number of programmes for small business development. Prominent amongst these is small business facilitation under the Linden Economic Advancement Programme (LEAP).
Under this programme, private business advisory agencies were established and small businesses were incubated, and enabling infrastructure was upgraded. The creation of the successor entity in 2010 will ensure that these gains are sustained, and will provide for the continuation of critical services previously supplied by LEAP, including business incubation and business advisory services.
Another example of Government’s practical efforts to promote micro-enterprise is manifested in the investment in the expansion and upgrade of community market infrastructure.
This year, a further $190 million has been earmarked for the construction and upgrading of market infrastructure which will see the completion of market tarmacs at Waterloo, Golden Grove, Best Klien/Pouderoyen, Enmore and Diamond, the reconstruction of the Mahaica market, as well as the rehabilitation of the Port Mourant market, benefiting over 3,500 vendors.
Last year, Government expended $167M on the construction of eight market tarmacs, with works completed at DeWillem, Patentia and Charity, benefiting 576 vendors. (GINA)