The Private Sector Commission plans to advocate for increased access to financing for small businesses, especially those that are operating in the oil and gas sector; so that those businesses could compete in an economy that is becoming competitive.
Admitting that the country needs to build capacity to meet the demand of the expanding economy, PSC Chairman Paul Cheong told the Commission’s general meeting this afternoon that the organisation will be leading the charge to get small businesses more prepared.
“It has become clear, that in order to keep pace with, and continue to deliver our service to an expanded business community in a rapidly growing Guyana economy, the Commission must increase our human resource capacity and we plan to do so to meet these demands where and when necessary,” the PSC Chairman said.
In the coming months, the Private Sector Commission will be hosting two seminars on local content, where the focus will be on taking advantage of the Local Content Act, and the benefits that are available for small businesses.
“Moving forward, the Private Sector Commission will continue to advocate in the interest of its members and the growth and development of Guyana. We will continue to engage stakeholders on a wide range of issues including access to financing for small businesses, especially those operating in the oil and gas sector,” the PSC Chairman said.
The PSC head noted that over the last year, the Commission has made strides that will see its members reaping increased benefits in the business sector.
He made specific reference to the signing of an agreement for the establishment of the Guyana-Suriname business council, a recent agreement between the PSC and the United States as well as several other local and regional initiatives.
“The fruitful and productive engagements and successful collaborative undertakings over the last past year demonstrate that the PSC has honored its mandate to the business community,” Cheong noted.
Today’s event saw attendees from several private sector bodies. The event was also attended by Minister of Finance, Dr. Ashni Singh, Opposition Shadow Finance Minister, Volda Lawrence and members of the business and finance sectors.