Senior Minister for Finance, Dr Ashni Singh, has challenged Guyanese businesses to tap into Regional and International markets. He made the challenge known while addressing the 34th Annual General Meeting of the Private Sector Commission on Friday.

Reminding the private sector that this is not the era for “business as usual,” Minister Singh questioned whether local businesses are truly exploring the opportunities that exist not only locally but regionally, and internationally.

“I want to put to the Guyanese Private Sector that in this era when you are growing as rapidly as you are, and when you have ramped up your productive capacity as much as you have, are you exploring as aggressively as you should – opportunities outside of Guyana as much as you are inside of Guyana,” the Senior Finance Minister asked.

He said from where he stands, there are not enough Guyanese businesses operating in the regional and international markets, although there are existing opportunities.

“These are a lot of Guyanese businesses here that have the capacity to expand their footprint outside of Guyana, and you know that President Ali’s vision for Guyana is a Guyana where we are leading not only the region but leading the world. And a part of that journey of getting in the shortest possible time to a place where we are leading the world, must surely involve looking beyond the Guyana border for opportunities to expand even if initially it is to expand to new markets to sell our people,” Minister Singh said.

For this to take place, the Finance Minister said it is important for businesses to improve on their services.

The PSC, one of the country’s leading private sector organizations, is known for advocating for financial stability, increased competitiveness, democratic governance, and sustainable development.

Chairman of the Private Sector Commission, Captain Gerald Gouveia Jr said within the last year, the Commission strengthened investor confidence, supported democratic stability and created real pathways for Guyanese businesses to participate in the country’s development, even as it experiences significant economic transformation. 

Mr. Gouveia said when he took the Chairmanship of the PSC, he did so with three clear goals in mind – safeguard the country’s democracy and stability, promote Guyana on the world stage and provide unwavering support to Small and Medium-sized Enterprises (SMEs).

“These goals were practical, they were urgent and they were directly tied to the future of business in Guyana. Businesses need stability, we need confidence, we need the democracy to work, we need the rule of law, we need financing, we need strong institutions, and that is what the business community needs to continue to boost investor confidence in Guyana. And over, the past years we have worked and built those goals together,” the PSC Chairman said.

The PSC Chairman, who was re-elected to the position, said progress was made possible through the active participation, leadership and commitment of the Commission’s members and member organizations.

He also noted that the PSC will continue to work to meet the increasing demand across sectors. He said the intention is to create more jobs, expand opportunities and improve the quality of life of Guyanese.

Related posts:

Finance Minister promises Government’s continued promotion and protection of private sector businesses Local partnerships for foreign companies not necessary but encouraged to boost Guyana’s local content -Finance Minister Government will continue to craft business sector driven budgets -Finance Minister tells PSC Local Private Sector frown at regional body’s concern about Guyana’s local content legislation