He pointed out that growth for the first half of this year stands at 1.3% compared to 2.8% for the same period last year and said Guyana may be poised for a meltdown as real output growth of all the major production sectors declines.

But noting the long way Denmor Garments Manufacturing Company has come over the years, Mr. Dennis Morgan, head of the company, urged business people to face change and be willing to move and adapt while paying attention to everything around.

At the chamber's annual dinner and awards ceremony, he said the only way to go is the competitive way and further urged that they re-invent their businesses to face a changing environment.

"Companies must evaluate where they are at the moment and make decisions as to what direction to go. We must reposition ourselves to become more competitive and look forward...concentrate on developing a proper marketing plan; it is pointless to go into business unless you have one. You must have an efficient management information system and a sound financial policy", Morgan advised.

He added that instead of complaining that the playing field is not level, business people must upgrade themselves to play with the global players.

Boyer, addressing the audience at Le Meridien Pegasus Hotel in Georgetown, noted that the aftermath of the September 11 tragedy in the United States has further tipped the scales in the global economy that was already in recession.

He said that compounding that grim scenario, financial aid to countries like Guyana will also be seriously affected. He reasoned that concomitant layoffs in the U.S. will mean reduced remittances flowing into Guyana that translate into less disposable income and a lowering of standards of living.

Boyer said there is tremendous spirit of camaraderie in the U.S. and patriotism is at an all time high as Democrats and Republicans face the tragedy. He recalled that in Guyana businesses have also suffered unrecoverable losses during political and industrial disturbances this year.

"We must strive for win/win situations. Sometimes it seems that the Government is focusing on meeting IMF conditions to the extent that tax concessions and other incentives the business community need are placed on the back burner", he stated.

He urged the business community not to be defeatist in outlook since while some sectors are folding, opportunity abounds for others.

"We must position ourselves to capitalise on such opportunities", he said noting that in the U.S. alone, organic foods represent a total of US$3.5B of total retail food sales.

He said Guyana has already started exporting organic cocoa and hearts of palm and there is tremendous potential for diversifying into other types of organic foods.

There is a huge market out there, he said urging that instead of listing all the reasons why the country cannot satisfy the market demand, it should start putting in the infrastructure and forming alliances to do it.

Boyer said the world is going through a difficult period right now and that even developed economies are feeling the "crunch". Business people need some sense of hope, he said since living in Guyana can sometimes be very confusing.

"I look around me and I see progress in some social sectors. At last we have dialogue between our leaders.

"Guyana's eco-tourism seems like a breath of fresh air away from the tensions of anthrax and mad bombers...I read the World Bank's report and learn that Guyana is still listed as one of the poorest countries in the western hemisphere.

"I am confused. Investors need a sense of confidence. We must have that assurance that our investments will be secure and will produce the desirable returns", Boyer stated.

President Bharrat Jagdeo who was at the dinner, presented awards to several winners. (ABIGAIL KIPPINS)