THE government continues to encourage and facilitate private sector investment, providing incentives and other assistance in an effort to promote new business ventures and the growth and development of industry, according to Prime Minister Samuel Hinds.
In a recent interview with the Government Information Agency (GINA), he said: “For the development of our country and the improvement of conditions in Guyana, there must be investment. It is this that opens the door to higher productivity and increased earnings. That is why government is promoting public/private partnership, particularly in infrastructure.”
Mr. Hinds said Guyana offers potential investors a broad spectrum of investment choices, ranging from more traditional industries, such as mining and sugar, to the non-traditional, like aquaculture and light manufacturing.
GINA said he noted that the Guyana Office for Investment (GO-Invest) recently reported that, while traditionally exported products continue to enjoy robust growth, the others are becoming an increasingly important source of export earnings, with their share of the total growing consistently.
The Prime Minister said that reflects progress in the government’s thrust towards diversifying the economy and he encouraged all Guyanese to play a part in the country’s growth and development.
“I think all of us need to recognise that, more and more, we have to shoulder the responsibility of the development of our country and, as such, invest in the things we need to secure a brighter future for ourselves and our children.”
According to Mr. Hinds, with ongoing efforts to enhance competitiveness, the conditions for investment are constantly improving and, as a result, new investors can benefit from ‘first mover’ status and choose the most promising projects, while, at the same time, establishing a platform for long-term growth and profitability.