“Answer the calling of innovation” to solve Guyana’s problems – US Ambassador tells entrepreneurs

…as AmCham launches YEP initiative

Ambassador Sarah-Ann Lynch with Ministers Charles Ramson and Oneidge Walrond and other officials

United States Ambassador to Guyana, Sarah-Ann Lynch on Tuesday underlined the importance of innovation, as she called on local entrepreneurs to use their skills in finding solutions to the country’s current challenges.
The diplomat was at the time speaking at the launch of the Young Entrepreneur Programme, pioneered by the American Chamber of Commerce (AmCham) with support from the United States Embassy and other partners.
“Now it is your chance to answer the calling of innovation to the problems that Guyana faces today and the problems it will face tomorrow. From infrastructure to energy, from the environment to food security, to disaster management, it is all waiting for you to innovate and to solve with the tools you already have and with the skills that this programme and others will provide,” she shared.
According to the envoy, the United States Government has shown its support for promoting capacity building in the country, through its various training platforms that were introduced over the years.
“The US Government is interesting in promoting prosperity for all Guyanese and that includes the youths of Guyana. The Embassy has several initiatives geared at building capacity among youths in areas of leadership…The US Embassy has also greatly emphasised invoking an entrepreneurial spirit among youths.”
However, Ambassador Lynch warned that while development will attract investors, transparency and predictability will be essential in retaining such resources, enabling them to build trust with Government and other parties.
“At the end of the day, economic development is all about trust. Attracting investors is just one step in building Guyana. You have to retain them and that means businesses have to be predictable and you have to be transparent. Predictability is critical to planning to legislation to investor relations and to process. Transparency is necessary so that there is a level playing field for all that are hoping for success. All of that builds trust in systems, trust in institutions and trust in Government,” the envoy asserted.
Iman Khan-Cummings of AmCham Guyana said they have already seen a mix of entrepreneurs who have dabbled in their various innovative ideas and are ready to put these trials to the test.
“We need to provide the environment for them to reach their full potential. We need to guide them so that their innovative ideas can flourish and usher in a larger Private Sector that will match ideas and reach with their counterparts in the region and around the world. We have to continue working hard towards the goal of nurturing a knowledge-based economy, fostering innovative and technological culture in the community,” she outlined.
In order to create a “healthy ecosystem” for entrepreneurship, she noted that there is need for Private Sector input to support and finance emerging small businesses.
“For new enterprises and start-ups, Guyana at this point in time provides the ideal place for you to life off, to grow and to thrive…AmCham has committed to work with its membership to support and promote public and private initiatives to facilitate young entrepreneurs, to unleash their creativity…The world will not wait on us to catch up and neither will our young people wait on us to deliver.”
Meanwhile, Minister of Tourism, Industry and Commerce, Oneidge Walrond underscored that on Government’s end, there are existing efforts to provide financial assistance and open access to markets.
“I am extremely passionate about youth entrepreneurship. That is why the Ministry of Tourism, Industry and Commerce continues to examine ways of assisting our young business people in developing business ideas and expanding existing operations. With this focus, aiming to better inform our policy decisions and approaches, the Ministry embarked on a youth entrepreneurship survey in order to gain more insight into the entrepreneurial desires of our young people,” Walrond detailed.
In addition, Minister of Culture, Youth and Sport, Charles Ramson lauded these efforts as a medium for progress in the country. His Ministry is also planning similar efforts for the coming months, targeting youths up to 35 years of age.
This new programme is expected to provide young entrepreneurs with the mentorship and other resources that they would need to successfully own, develop and innovate their businesses while increasing output. (G12)