PSC to host multi-stakeholder Business Summit

– Action Plan to be formulated to drive economic development
A multistakeholder approach is being used to bring together the brightest and most experienced in all sectors for the first-ever Guyana Business Summit, which is scheduled to take place next week.

Chairman of the Trade and Investment Committee of the Private Sector Commission (PSC), Deodat Indar told the media on Tuesday that the Business Summit would be held from October 11-12, 2017.
Indar said the Summit would see participation of a wide cross-section of people, including Government officials, members of the Opposition, donor organisations and civil society.
The PSC official noted that the Summit would not be another talk shop and a presentation of great speeches, rather it would be used to formulate strategic plans to help boost Private Sector activities.
“This will not be another talk shop. This is not where people go to grandstand or any form of pageantry. This is serious business. We expect that the seven panels that we set up will be armed with experts to dissect issues, trends, analyse and project and suggest actions to reduce decline,” he stated.
He noted that all the support was needed at this juncture, especially as Guyana was moving towards becoming an oil-producing country at a time when traditional sectors have been performing poorly.
The PSC official also explained that the main focus of the Summit was to assist with the formulation of a Private Sector Development Action Plan that would set the tone for the economic development in Guyana.
The PSC is hoping to have the Action Plan incorporated into a plan for Guyana’s overall economic development and prosperity, and is currently in discussions with Government in this regard.
Asked by this newspaper whether there were mechanisms in place to ensure that the Action Plan was implemented and not placed on a shelf, Indar said that there was machinery to deal with that.
“I would suspect that if we have a meeting of the best and brightest of Guyana, I don’t want to preempt it, but the suggestions should not only be immediate, but medium and long term as well,” he added.
While there have been increasing reports about a slowdown in the local economy, Indar said while this was not the main reason for the Summit, it would help to find solutions in addressing this issue.
“Regardless of where this country is right now, I don’t think it is synonymous with us holding this Summit…but that does not preclude us from discussing some of the issues that are facing the nation.”
Six presentations from industry experts in the areas of forestry, manufacturing, agriculture, tourism, the extractive sector and commerce will occur, followed by panel discussions.
Indar said the objective was to encourage maximum participation from the stakeholder groups and organisations in order to ensure that the findings of the Summit address any constraints that hinder development.
“I want to make sure that the business community and the Guyanese people understand that this PSC is fighting a fight for the development of the country. This is about finding solutions that are facing the Guyanese citizenry, whether you are in business, whether you are thinking of starting a business or expanding a business, an employee or self-employed,” he opined.
President David Granger is expected to deliver the keynote address at the opening of the Business Summit. Opposition Leader Bharrat Jagdeo is expected to deliver an address during the second and final day of the Summit, which is being supported by the Inter-American Development Bank (IDB).
The Guyana Business Summit will be held on October 11-12, 2017 at the Guyana Marriott Hotel under the theme: “Challenges and Opportunities for Business Growth and Expansion.”