President Irfaan Ali has declared the PPP/C Government’s readiness to listen and adopt the
changes that will lead to the success of businesses operating in the manufacturing sector.
Ali announced this in his keynote address to the Guyana Manufacturing and Services
Association’s (GMSA) 25 th annual presentation and award ceremony, held at the Princess Hotel,
Friday evening. Held under the event’s theme of “Changing the paradigm for advancing
sustainable industry transformation and growth”, the President pointed out that members must
conduct a “frank and honest evaluation” on where the gaps in the sector are, how those gaps can
be addressed and how businesses can position themselves to identify strategic partners to do
business with. “What is our outlook for the manufacturing sector? We are a government that is
ready to listen, learn and adopt the changes required to help you succeed. We have to develop a
winning culture,” the Pres8dent declared.
He said that since taking office, his Government has made significant progress in ensuring that
citizens and businesses are cushioned from the blows of the pandemic. He noted that for the
manufacturing sector, the Government removed Value Added Tax (VAT) and duties on
machinery and equipment. He said despite the pandemic’s woes and as fruit of the Government’s
intervention, the services sector grew by 9.4 per cent while the manufacturing sector grew by an
impressive 13 per cent. This, the President said was reflected in the 2021 mid-year report
prepared by the Ministry of Finance (MoF). Meanwhile, President Ali declared that businesses
in the manufacturing and services sector must rally together, so that they may tackle obstacles
and seize opportunities that will inevitablyy present themselves. “Do we see ourselves as
competitors or as members of the manufacturing industry? If we want to win, we have to come
together to build the capacity of the industry. Fit yourself into corporations. If 10 small
businesses can come tougher and take away 30 per cent of the market, there is better advantage.
You all need to come together and change the direction; change the post. If you are satisfied with
small share, you will miss out on opportunities,” he explained.
Addressing the issues of removing the barriers of doing business and trade is something that the
Government has prioritised, the President reminded, as he highlighted that his administration has
secured a new forefront with Barbados. This revitalised relation sees the removal of what were
longstanding inhibitors of trade between the two countries. The president stressed that this
barrier removal stands not only between Guyana and Barbados, pointing out the necessity of
removing all blockades identified amongst all other members in the Caribbean Community
(CARICOM). President Ali went on to indicate that one of the centerpieces of manufacturing is
market. To this end, he said that a strategic analysis would show that the best and easiest market
to capitalise on is CARICOM’s. “The CARICOM market will sustain our market for the first
few years. The opportunities are there, we just need to grab them… Tons of investors are coming
to Guyana and the focus will be heavily on food production. We from the Government, are going
to invest in creating the right environment for strategic investment, training, development, and
building the infrastructure,” he said.
Ali noted that key to Guyana’s manufacturing sector is reliable, cheap and clean energy. The
Government has recognised this and has made significant steps in pursuing the US$900M gas-to-
energy project in partnership with ExxonMobil. Hydro, solar and wind are also on the cards for
development and with this energy mix, Guyana could see an additional 500Mw added to the grid
by 2024.
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