Sunday, June 23, 2024
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Guyana to break down historic barriers to growth

GEORGETOWN, Guyana – The government is implementing policies and strategies to break down barriers to growth and development for local businesses and foreign investors operating in Guyana, says senior finance minister, Dr Ashni Singh during a recent event hosted at the Pegasus Hotel in Kingston, Georgetown.

“We are implementing an array of policies aimed at unblocking or removing historic impediments to growth with the specific objective of global competitiveness in these respective sectors,” minister Singh stated.

The government has noted the challenges that small domestic markets face in getting their products to other territories, which can make it difficult for them to become regionally and internationally recognised. As a result, the administration has committed to building and improving infrastructure networks to connect Guyana with its neighbours.

“The state of the infrastructure to go to Suriname does not allow some of us to travel…and the road to Brazil is not entirely a paved road. But we have committed to completing the bridge across the Corentyne River to the east and we have committed to completing the road to Brazil in the south because we believe that every producer of goods and services in Guyana must be able to seamlessly sell their goods and services,” the senior minister explained.

With these new connections, Guyanese businesses can buy inputs from the two countries and operate in a larger economic space. The government is also working with CARICOM to address maritime transport challenges.

Just recently, the AfriCaribbean Trade and Investment Forum, held here, brought together African and Caribbean officials and investors to discuss ways to break down trade barriers and foster a more efficient flow of business deals.

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