It is now accepted worldwide that governments should be the facilitators of business and industry, providing the legislative framework, economic incentives and removing or minimising bureaucracy which is a disincentive to investment and economic expansion.

Guyana has had its history of experimentation with a state-run economy when during the 1970s and 1980s the economy was 80% state owned.

However, the late President Desmond Hoyte began the dismantling of that system between the late 1980s and early 1990s.

The process of privatisation continued with the advent of the PPP/Civic Government in 1992 through the restoration of free and fair elections.

Undoubtedly, with many difficulties along the road, the Government sought to hasten the process by establishing the investment agency GO-INVEST to fast track transactions of investors and the business community.

This agency has had appreciable success but there have been some complaints about hitches and obstacles along the investment road.

These complaints should be addressed with urgency to further enhance the investment climate.

In recent times because of political violence and instability and an upsurge of violent crimes, many have been wondering how secure is the future of business and investing in Guyana

Against this backdrop it must have heartening and encouraging to all Guyanese to learn that the local beverage giant Banks DIH has made its largest profit since its establishment.

Chairman of the company, Mr. Clifford Reis at the company's recent Annual General Meeting announced that the after-tax profit for last year was $747M compared to $694.8M in 2001.

He noted that Citizens Bank, a 51% owned subsidiary of Banks DIH, realised a remarkable 60% growth in after-tax profit which facilitated the record achievement of the group of companies.

This is testimony that despite the many `prophets of doom' and social and political difficulties there are still many local businesses that remain committed to greater investment and expansion thereby contributing to economic growth and national development.

The company must be commended for its sterling performance and undoubtedly its success must be largely attributed to efficient management and judicious investment since its early days under the astute stewardship of the late Mr. Peter Stanislaus D'aguiar.

However, its performance dispels the contention by some that the Government is not creating a business-friendly economic climate.

Mr. Reis in his own words expressed confidence in the future of business in Guyana when he declared: