Foreign-owned businesses must meet tax, NIS, other regulatory requirements – Rodrigues

…says Govt has also engaged Chinese-owned businesses on legal obligations

Minister of Tourism, Industry and Commerce, Susan Rodrigues, speaking on the programme Starting Point, hosted by Kiana Wilberg, has said that while the Government welcomes foreign investment, businesses operating in Guyana must comply with the country’s laws, regardless of ownership.

The Government has been engaging Chinese-owned businesses to ensure compliance with Guyana’s laws, including taxation and National Insurance Scheme (NIS) requirements, amid public concerns that the growing presence of Chinese supermarkets could affect locally owned businesses.
Her remarks on the issue came after Wilberg raised concerns about the growing presence of Chinese supermarkets in communities, noting that while these establishments give consumers access to affordable products, questions have emerged about their potential to crowd out local investment. She questioned whether the Ministry and the Competition and Consumer Affairs Commission (CCAC) were examining the issue to ensure that foreign investment was encouraged, without compromising the interests of locally owned businesses.
Responding, Rodrigues explained that Guyana operates a free-market economy and that the Government remains committed to encouraging investment from both local and foreign businesses.
“Guyana is a free market economy, and the benefits of a free-market economy are well established. We encourage foreign investors and investment, and through my ministry, we have done several engagements, especially in the last year with Chinese businesses,” she said.
The Minister disclosed that the Government had organised an engagement with members of the Chinese business community at the Arthur Chung Conference Centre, during which business registration, taxation and other statutory obligations were discussed.
According to Rodrigues, the engagement was organised through collaboration between the Governments of Guyana and China and involved several Government representatives, including Finance Minister Dr Ashni Singh, who has responsibility for the Guyana Revenue Authority (GRA).
The Chinese Ambassador was also present, along with members of the Chinese business community.
Rodrigues explained that the discussions focused on ensuring that business operators understood the importance of complying with Guyana’s regulatory requirements, particularly those relating to business registration, the payment of taxes and contributions to the NIS.
“We spoke with them about the importance of registering their businesses, of being tax compliant and being compliant with the requirements of the National Insurance Scheme. These are all important aspects of any business, whether it’s a foreign-owned business or a locally owned business,” she stated.
The Minister emphasised that foreign-owned businesses are subject to the same legal obligations as locally owned establishments, noting that the Government’s approach is to encourage investment while ensuring that businesses fulfil their statutory responsibilities.
She said the Government conducts outreaches to encourage compliance among business operators, including those running Chinese supermarkets.
Turning to concerns about competition and consumer protection, Rodrigues highlighted the role of the CCAC in investigating complaints involving businesses operating in Guyana. She explained that the Commission examines complaints concerning possible anti-competitive practices, as well as issues relating to receipts, refunds and other consumer transactions.
“Through the CCAC, Competition and Consumer Affairs Commission, any complaint that is made to the Commission about anti-competitive laws or issues with receipts or refunds, we take every complaint seriously,” Rodrigues said.
She explained that complaints are investigated and that the Commission seeks redress on behalf of complainants where violations of the law are established. She pointed to ongoing engagements with business operators and the work of the CCAC in addressing concerns about compliance and consumer rights.
“We have an active Commission, and any complaint that we receive, we treat with utmost seriousness, and we follow up on those,” Rodrigues assured.