GMSA backs Govt’s vision for 5-year economic, social progress plan

Following the announcement of President Dr Irfaan Ali’s five-year policy agenda, the Guyana Manufacturing and Services Association (GMSA) has expressed strong support, highlighting its focus on economic diversification, industrial growth, and fostering prosperity for all Guyanese.
In its press release, the GMSA noted with particular importance the suite of measures directly supporting manufacturing, agro-processing, and non-oil industrial development, including new tax regimes, expanded access to finance, and capital market reforms.
The Association further acknowledged that several of the initiatives closely reflect long-standing policy recommendations and advocacy advanced by the GMSA on behalf of its members.
As the country continues to build out its infrastructure to support a new industrial era, there is a parallel effort to strengthen Guyana’s governance and administrative framework, supported by modern digital infrastructure and more robust legal and regulatory systems, it stated.
The rollout of Government digital platforms and expanded digital service delivery is expected to make public services more efficient, accessible, and people-friendly.
This approach will further improve the ease of doing business and enhance Guyana’s attractiveness to international partners seeking to engage with local enterprises, the GMSA added.
The Association noted key initiatives of significance to the manufacturing and industrial sector, such as Special Development Zones: zones operating under tax-free incentive regimes that will support both export-orientated and import-substitution manufacturing activities.
Junior Stock Exchange: The establishment of a Junior Stock Exchange will provide new pathways for small and medium-sized enterprises (SMEs) to access equity financing, scale operations, strengthen corporate governance, and usher in a new era of business practices; and the Guyana Development Bank: Capitalised at US$200 million, the proposed bank will offer zero-interest, zero-collateral financing and represents a critical step toward improving access to affordable capital for SMEs in the manufacturing and agro-processing sectors.
The GMSA release said that it views the measures as a strong signal of the Government’s commitment to building a competitive, diversified, and resilient manufacturing base while deepening private sector participation in national development. This roadmap provides businesses with the assurance and clarity needed to confidently plan for the next five years and beyond.
The Association encouraged its members and the wider business community to actively use this policy framework as a strategic guide. Businesses are urged to begin preparing by formalising their operations, strengthening financial records, developing bankable business opportunities to leverage the forthcoming Special Development Zones, and positioning for capital market participation and export growth.
The GMSA, it said, stands ready to work closely with the Government, financial institutions, and development partners to ensure these initiatives translate into tangible outcomes for manufacturers, agro-processors, and service providers across Guyana.