Guyana’s investment climate an exciting one – Jamaican Stock Exchange official

…lauds Guyana’s commitment to regional integration

Guyana came in for high praise on Tuesday, during day one of the capital markets and investment conference, with Managing Director of the Jamaica Stock Exchange, Dr. Marlene Street-Forrest, noting the “exciting times” in Guyana, as well as its commitment to regional integration.
The first Regional Investments and Capital Markets Conference was held at the Pegasus Suites and Corporate Centre on October 3 and 4. It focused on themes such as wealth creation and retention, and featured a number of speakers, including experts and investors.
The Jamaica Stock Exchange, which was integrally involved in organizing the conference, was represented by Street-Forrest, who noted the important role Guyana is playing at a regional level (Caribbean Community) and at an international level (United Nations). She noted that when one considers Guyana’s present and past, it bodes well for the future.
“There’s no doubt that Guyana is going through an exciting time, an exciting time that promises to be fulfilling and fruitful for those involved. But the future alone is not what makes me feel positive and confident about Guyana’s plans and development. Rather, it is the past, because the past reveals the future,” she said.
“When we look at Guyana’s past, we see a history of commitment to cooperation and teamwork across the region and the globe, from Caricom to UN development programmes. We know Guyana has a strong commitment for regional integration and international cooperation. This is the trait for success in any capital market,” Street-Forrest said.
The Managing Director further noted Guyana’s long-standing relations with Jamaica, and the various causes the two countries have collaborated on. According to her, however, Guyana and Jamaica now have another reason to collaborate, this time to ensure the development of Guyana’s capital market.
“Through Caricom, we have jointly addressed regional issues such as trade agreements, economic development and regional security. Through the Commonwealth, we have met on various initiatives regarding democracy, human rights and sustainable development; and through various diplomatic forums, we have collaborated on borders, shared interests and concerns,” she said.
During the investments and capital markets conference, business leaders and Jamaican financial experts shared their insights on investing. The conference this year was hosted by Guyana, in association with the Jamaica Stock Exchange, and is notably the first regional conference held outside of Jamaica.
It provided a platform for key participants of the financial services industry to discuss and present ideas on issues pertinent to the development of the sector. It is also envisioned as helping to create partnerships and improved understanding between financial institutions, to allow for the generation of investment opportunity.
The Jamaica Stock Exchange (JSE) has been in operation since 1969, starting out at the Bank of Jamaica (BOJ) building before moving to its present office at 40 Harbour Street in 1998. It has over 90 listed companies, with a mandate of mobilisation of capital to facilitate the growth and development of these companies, and by extension the economy.
Locally, the Guyana Association of Securities Companies and Intermediaries (GASCI) is the recognized stock exchange in Guyana. It is a self-regulatory organisation registered with the Guyana Securities Council to carry on business as a stock exchange and an association of securities companies and intermediaries.
GASCI consists of four member firms which provide broker services for customers who wish to buy and sell shares on the stock market, and these are Trust Company (Guyana) Ltd, Guyana Americas Merchant Bank Inc, Beharry Stockbrokers Ltd, and Hand-in-Hand Trust Corporation Inc (formerly GNCB Trust Corporation Inc). Trust Company (Guyana) Ltd, Beharry Stockbrokers Ltd and Hand-in-Hand Trust Corporation Inc are also represented on the Board of Directors of GASCI.
The member firms of GASCI are registered as brokers with the Guyana Securities Council. (G3)