Former Chairman of the Private Sector Commission, Paul Cheong, has issued a call for Guyanese businesses at all levels to “step up” their game to cash in from the oil and gas sector.

Delivering remarks at the PSC’s 31^st Annual General Meeting on Tuesday, Mr. Cheong saidalthough the opportunities for business growth and expansion are vast, the local private sector must do more in order to capitalize fully.

“As Chairman of the Private sector Commission I will encourage you, whether you are small, medium size or large business to reposition yourself and be ready to take advantage of the opportunities that lie ahead. The government has done its part to create an enabling business environment with new opportunities and we have already attracted much needed partners,” Cheong said.

He said while the Government has set the groundwork for businesses to benefit, the onus is on business owners to ensure that their goods or services meet the demand that is required.

“The time has come for new energy in the private sector. It is time to think outside of the box, Guyana is changing and we must be able to adopt and reposition ourselves to take advantage and lead Guyana’s development path, we must be part of the change,” the Outgoing PSC Chairman said.

Cheong said the country’s economic growth has had a positive impact on local businesses. It was explained that many businesses are seeing major increases in profits and customers. The former PSC Chair said a number of regional and international partnerships have also been formed.

‘Already a number of regional and international companies are making their way to these shores, whether to form joint ventures or establish businesses, the Private Sector Commission welcome these investments as they augur well for growth and the overall development of Guyana,” Cheong noted.

The PSC, he said, will continue its advocacy to ensure that the local content law aids the utilization of Guyanese goods and services and supports skills development as well as training and employment of its citizens.

Cheong, who served as PSC Chairman for two years, said a lot was achieved under his watch at the Commission and he is proud of his record.

Some corporate members of the PSC had recently complained about accountability and transparency within the private sector body.

Businessman, Komal Singh has been elected as the new PSC Chairman.

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