President Ali lauds GAICO for commitment to corporate social responsibility

…urges private sector to build consortiums to go after big opportunities

President Dr Irfaan Ali has lauded GAICO Construction Incorporated for its resilience in overcoming setbacks and converting from a sole trader company into a massive corporation as well as for its commitment to corporate social responsibility (CSR).

Speaking at the company’s 30th anniversary and awards ceremony at the Marriott Hotel, President Ali recalled celebrating with the firm many years ago but in its founders’ “backyard”. Thursday’s event at the five-star hotel, he noted, tells of the growth GAICO has achieved.
According to him, the company was built on a high level of social consciousness and despite its tremendous growth over the years, it has remained committed to this.
“GAICO has shown us by their work that they have embraced the challenges, but they are also conscious of opportunities and are adjusting their strategies to make use of those opportunities,” President Ali stated as he urged businesses to stop complaining and push forward.
Alluding to the vast investment opportunities in Guyana, the Head of State pointed out that his Government has challenged foreign diplomats to respond to Guyana’s developmental needs.
“Bring the projects in, bring the financing in, and we are ready. We don’t have any reluctant relationship; our relationship is based on trust, partnership, and advancing the cause of Guyana… getting the best value for the country and the people. And once the best value comes for the country and the people, it also brings greater value to bilateral relationships…”
Moreover, the Guyanese leader expressed his desire to see the local private sector building consortiums and going after big opportunities.
“We need to see people sitting around the table and building relationships, extending yourself to foreign investors who have the capacity and technology. That is how you have direct transfer, building the partnership. But understand that isolation is not the solution. We cannot isolate as a country; we cannot isolate as an economy and you can’t isolate as a business. That is a business model that will fail. Competition is best challenged with cooperation,” explained President Ali.
He also encouraged the private sector to pay taxes “efficiently and effectively to ensure that the development of the country benefits from the growth of their company.
“Our private sector has shown that it has the capacity, the capability, the strength, the dynamism to move things forward. They have shown consistently that they can move forward.”
For his part, GAICO’s Chief Executive Officer (CEO), Komal Singh, recalled that he started as a sole trader, trading under “Komal Singh Construction”. He shared that his business has grown diversely over the years while crediting all of its accomplishments to his very supportive employees who “we can call on them at short notice to do wonders for us”.
According to him, GAICO has seen tremendous opportunities in this country, not just from a business standpoint, but has also recognised that Guyanese have great potential.
“We just need to give them the opportunity, give them the coaching and counselling and training that deserve and they will excel,” Singh said as he addressed the large gathering.
For context, the CEO divulged that even though 50 per cent of his staff did not complete high school for varying social reasons, they are multitalented and excellent at what they do.
In closing, Singh applauded the Irfaan Ali-led Government for supporting the private sector and the development of the country “with the people in mind”. He noted that the Government has proven that it will hold “our hands and walk this path” to make Guyana successful.