President David Granger, during his public address to the nation at Parliament last week, pointed out that the Ministry of Business will be working to improve the ease of doing business in Guyana.
The Head of State said the ministry will be working to “attract increased foreign and local investment; support the development and export of value-added industries and products; support industrial development through the establishment of industrial estates; encourage small – and micro-enterprises and revitalise our village economies.”
The ministry will continue to support the traditional sectors of the economy and create favourable conditions for investors, Granger said. President Granger stated that the government will pursue economic diversification, “augment value-added industries and introduce new developmental portals”. Focus will be on reducing Guyana’s vulnerability by expanding the economy into the services sector and building strong tourism and hospitality industries by developing a diversified mix of tourism products, he added.
Earlier this month, in an interview with GINA, subject Minister Dominic Gaskin pointed out that the “The year 2016 will see the Ministry of Business making greater strides towards national development. It seeks to improve the ease of doing business as measured by the World Bank Doing Business Index; boost value added exports by assisting manufacturers to become more export ready; increase the number of small businesses accessing services and credit through the Small Business Bureau; the reform of GO-Invest; and increase the transparency of regulatory policies.”
The ministry will also be placing great emphasis on the completion of several projects inherited from the previous administration including the Lethem Industrial Estate which commenced approximately 10 years ago, but is still incomplete.
The ministry will be focusing on the completion of other projects including plantation chip factories and two call centers.