In order to make the business climate more conducive, there needs to be regular consultations between Government and the various Private Sector representative bodies.
This is according to the Georgetown Chamber of Commerce and Industry (GGCI), which is calling for more meetings with its various Government counterparts to have discussions on issues affecting the local investment climate.
GCCI President Vishnu Doerga, during a press conference on Tuesday, underscored that one meeting ahead of the presentation of the National Budget every year was not going to prove effective in making the environment welcoming for investments.
“A lot of what is needed now is us sitting at the table on a regular basis with our respective Government counterparts so that we can let them know on an ongoing basis what is needed. The budget is an annual event which really funds these activities we were talking about; so it’s very tough to just have a consultation on it when it’s about to be launched,” he explained.
Doerga expanded by pointing out that many challenges affecting businesses were caused by red tape and regulations, rather than the Government’s funding.
“A lot of the things that need to be done aren’t finance intensive. You need to meet to change regulations and amend procedure so the (business) process can happen much smoother,” he noted.
He added, “We do say Guyana means business. But in order to mean business, you need to have a process to make business flow smoothly; if not, it’s not 20 years ago, the Private Sector that has money to invest can invest it elsewhere where it is easier and there is a better investment climate.”
The GCCI President expressed pleasure that the Foreign Affairs Ministry already reinstituted the quarterly meeting with the Private Sector where issues were addressed, and he was now hoping that the other relevant Ministries and agencies would follow suit very soon.
In fact, he disclosed that the Business Ministry was currently working on improving its system to allow the exchange of information between the Private Sector and Government to occur in a more structured manner.
Meanwhile, Doerga indicated that the consultations on Budget 2017 were productive and the GCCI was looking forward to making its presentation.
He emphasised that there was need for a development plan for Guyana and expressed hopes of seeing this in the budget.
Budget 2017 is slated to be presented in the National Assembly on December 5 by Finance Minister Winston Jordan.
