The Guyana Office for Investment (GO-Invest) on Friday signed an MoU with the Private Sector Commission (PSC) aimed at better positioning local businesses to capitalise on investment opportunities that will emerge in the petroleum economy.
The MoU was signed by CEO of GO-Invest Dr Peter Ramsaroop and PSC Chairman Nicholas Boyer at the GO-Invest office. Ramsaroop, the DPI reported, said GO-Invest is responsible for facilitating local and foreign investment.
“Our agenda is to work very closely with the local entities in Guyana to promote investments. With that, we have discussed and partnered with the Private Sector to ensure that our local companies know about what incentives Government can give to the Private Sector; how we can bring them together for the international foreign direct investors coming in; how we can promote joint ventures, how we can promote different activities within the Private Sector,” Ramsaroop is quoted as saying.
Meanwhile, the PSC Chairman said the signing of the MoU is Government deepening and cementing its relationship with the entity.
“Clearly what is ahead for Guyana is significant and the Private Sector needs to work on developing itself and what better agency to work through than G[O]-Invest. We expect a number of international companies to be interested in our local market and similarly, we expect a lot of local Private Sector companies wanting to reinvest into Guyana and to expand and as such, we are ready to work with G[O]-Invest to do the things necessary to build that local Private Sector,” Boyer said.
Only recently, GO-Invest signed a Cooperation Framework Agreement with the Guyana Manufacturing and Services Association. The Agreement’s objective is to build the capacity of local businesses in the manufacturing sector and ensure there is a level playing field for both local and foreign investors.