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FM
Former Member

Cheaper electricity, more commercial banks, less red tape - President promises business community

Written by , Published in News, Georgetown, GINA, April 22, 2015, Source

 

The prospects of doing business in Guyana are likely to get better with the return of the Donald Ramotar led Government after the May 11, 2015 elections, as the incumbent Head of State today told members of the business community of several planned initiatives that will increase the ease with which business is done here.

 

President Ramotar was at the time addressing members of the Guyana Manufacturing and Services Association (GSMA) at a luncheon hosted for the PPP/C’s Presidential Candidate and incumbent President to interact with GSMA members at the Marriott Hotel, Kingston.

 

 President Donald Ramotar addressing members of the Guyana Manufacturing and Services Association [GSMA) at a luncheon at the Marriott Hotel, Kingston

President Donald Ramotar addressing members of the Guyana Manufacturing and Services Association (GSMA) at a luncheon at the Marriott Hotel, Kingston

 

He said once re-elected his administration will ensure the red tape is cut out and bureaucracy is minimised so that business decisions could be finalised with greater speed.

 

In this modern environment, Information, Communication and Technology (ICT) has “a tremendous role to play. We will liberalise the ICT sector, he said adding that “Government has no intention of going into competition with companies in the business, but we have to create social bandwidth.”

 

The President said the enabling legislation was presented to the National Assembly, but it “is lying in parliament.  That’s another bill I appealed to the opposition to talk about when I prorogued the parliament.”

 

More banking licences

 

President Ramotar signalled his government’s intention to facilitate further competition in the banking sector with the issuance of additional licences for the operation of commercial banks in Guyana.

 

“Since 1990s we have not given any commercial bank licence because economy was small…But my intention is to issue more commercial banking licences in the future once I’m re-elected. I think that is important because even though the banking sector has done really well, and they work very closely with us on many projects, I still detect some form of conservatism.

 

We will search for reputable banks, to try to bring them to Guyana and I hope this will help the private sector greatly because by stimulating more competition in this area I expect that the interest rate spread will come down considerably in the interest of the private sector,” he said.

 

Members of the Guyana Manufacturing and Services Association (GSMA) at a luncheon at the Marriott Hotel, Kingston

 

The President noted that government has not ruled out the creation of development banks, but at this time in the economy it’s not affordable and hence, government is looking at alternatives to provide greater financing for entrepreneurs, particularly those investing in micro and medium enterprises. He said Government will relook at the experience of micro credit through the Women of Worth (WoW) programme and the mechanism in place to have affordable housing loans, which are partnership initiatives with commercial banks because “we want to extend that experience to other sectors to stimulate small and medium size enterprises to grow… We will be using more fiscal measures that we believe can serve the same purpose until we are able to set up the specialise type institution, such as development bank,” he said.

 

Cheaper electricity

 

Critical to this modern business environment and stimulating the economy, the President noted is cheaper electricity. “The need to have cheap energy in our society is extremely important,” he noted, adding that the Amaila Falls Hydroelectric Project was a very well thought out project that would have saved Guyana about $3 billion from the Treasury over 20 years “…so to say that they (opposition) opposed it because of debt is a total misrepresentation… we would have been buying power from them at half of what we are generating power at this point in time and that is why I want to assure you that when elected again on May 11, I will pursue the Amaila Falls hydro project, and hopefully I will work very hard to start building it before the end of this year,” he said.

 

The President also noted that there is need to modernise the country’s infrastructure to prepare for the future and this is one of the reasons why Government is expanding the airport, supporting first-class facilities like the Marriott hotel, pursuing cheaper freight cost, an impressive road network to enhance transportation access and speed, and hoping to build a deep water harbour in Berbice. This harbour will not be at the expense of the existing harbour in Demerara.

 

President Donald Ramotar fielding questions from members of the Guyana Manufacturing and Services Association (GSMA) at a luncheon at the Marriott Hotel, Kingston

 

“(The) Demerara harbour will always be important. Demerara harbour cannot and would not be de-emphasised in any way, but clearly we need a new deep water harbour to deal with the new type of maritime trade taking place,” he said.  This is especially pertinent in light of the expansion of Panama Canal and the possibility of a new canal being dug in Nicaragua. He added that the Caribbean is already preparing for these developments with Jamaica now building a new deep water facility and Cuba already owning one.

 

“We have a distinct advantage in the sense that we are both a Caribbean and South American country,” he said which is ripe for Guyana to become a maritime hub.

 

“When you think of the spin off benefits that could accrue you would see how…it could be to the private sector, government and country as a whole, we could export and import in larger volumes.”

 

Skilled workforce

 

The country’s success, both in the private and public sectors is heavily dependent, the president noted, on the development of a highly skilled workforce and that is the reason behind the “human capital investment we are making.” He noted that over the next five years, his government would review and re-align the education system to better equip people with the skills needed for Guyana’s development.

 

The President noted that Government will pursue means to ensure that secondary education is the minimum level of education, and those who are so inclined will be continuously trained through the Ministry of Labour’s Board of Industrial Training (BIT), which provides technical training and certification for thousands of youths and single parents annually in various technical skills.

 

Security

 

The President acknowledged that security is a burning issue for the private sector and pointed to the 15-point plan he recently outlined to curb crime and boost security. Among the issues is the need to reduce the length of time it takes the police to respond to an emergency call. The President shared the findings of a study from the University of Vanderbilt on security in Latin America and the Caribbean, which found that Guyana has the second lowest experience of crimes in Latin America and the Caribbean. Nevertheless, the President agreed there is need to deal with security fears and his Government is continuously addressing this concern.

 

Taxes

 

Speaking about economic challenges the President urged the gathering to be weary of promises from the opposition of “freeness” and cutting taxes because “it will take us back to an experience we already had in this country. It will create a bigger deficit, it will create higher inflation rate and it will create exchange rate instability,” the President said.

 

The government’s response would have to be to raise the interest rates.  He cautioned that this will affect macroeconomic stability and “our worst critics will agree with us that we have been very responsible with the macro stability of our country. We want to maintain our macroeconomic policy to have stability in our country,” he said.

 

Government has already cut several taxes and will continuously review the tax system to further reduce them in a responsible way.

 

He noted that should the current oil exploration activities reap positive results, then this will be good news for tax reductions.

 

Guyana is appreciative of the private sector’s contribution to development inspite of local and international challenges and in turn the government is committed to facilitating maximum returns and ensuring the environment is more conducive to growth and prosperity, he said.

 

Private sector

 

“I would like to acknowledge the tremendous role that the private sector has played and is playing in Guyana development and the achievements economically that we have made inspite at times very unfavourable international economic situation and an opposition that seem intent on holding our country back. Thank you for the optimism and confidence that you have shown and the hundreds of entrepreneurs who took risks, raised financing and invested in projects to create jobs and today are earning deserved returns on their investment,” he said.

 

The President noted that Government and the private sector have worked on several documents that outline a framework for growth and development, including the National Development Strategy (1997), the National Competitiveness Strategy and collaboratively worked on events such as the business summit and the National Economic Forum and these have “helped to craft policies that we have pursued and have helped us to successfully navigate the situation we have faced internationally”.

 

Members of the GMSA raised several concerns with the President including questions about his government’s plan to address perceived corruption, concessions for the business community, taxation, and plans for tourism and government’s policy on energy.

Replies sorted oldest to newest

Originally Posted by Cobra:

When the PPP promise something, they will deliver as promise. That's the faith I hold to my heart.

 

We still waiting on security and reliable electricity.

FM

Guyanese can’t take promises to the supermarket

April 20, 2015 | By | Filed Under Letters 

Dear Editor,     I am convinced that the PPP is politically bankrupt, devoid of ideas, a lost ship with a broken rudder, sailing aimlessly on the high seas of this political campaign. All the great thinkers and strategists are gone. The Jagans, the Ramkarrans, Pandit Reepu, Narbada Persaud, Feroze, Navin, Moses, Shree-Chand, Sir Fenton, Mr. Benn, Mr. Wilson. Men and women who have struggled tirelessly, fought valiantly, wept sometimes and once in a while smiled, all in that monumental effort to make the PPP a great party. Today, a group of upstarts, political charlatans have besmirched this once celebrated party of the Caribbean. For 12 years, Jagdeo’s rule was layered with deceit, contempt and bad governance. Ramotar’s three years sleep was filled with excuses and, well whatever. For twelve years Jagdeo had only bad ideas, Skeldon, Amaila, Berbice Bridge, Mariott, etc. For three years Ramotar had only, well, no ideas. Jagdeo tells his followers that they should focus on his work and vote for the PPP. Ramotar tells his supporters to focus on what Jagdeo did and vote for him. Jagdeo perfected the science of pan-handling economics. Ramotar tried that science and failed. No sane foreign government or lending agency will give aid or loans to a government that does not have the confidence of its people. I guess that is too much for Ramotar to comprehend. Today Guyanese are asked to vote for a PPP candidate who has no ideas, no experience in economics, finance, government, planning or even basic people skills. His campaign handlers are afraid to impart too much information to him, lest he chokes on it. They did not inform him that there will be no prime ministerial debates, so, at his press conference he sacrificed the poor woman. For 12 years Ramotar allowed Jagdeo to run roughshod over the country. As General Secretary he had the power to stop this evil. He was either too afraid to do so, or was promised bigger things. He presided over the demise of Guysuco as Chairman. Today he tells the country that Guysuco is in trouble because Parliament cut his budget. He further sealed the fate of the industry when he hired Shaik Baksh and Rajendra Singh. One is of questionable repute and the other with no management experience and no idea what a sugar plant looks like. This schlick happens only in Guyana. The PPP has an advertisement called Vision – Guyana Version – 2.0.  I must ask, what the hell happened to 1.0? This ad is covered with beautiful pictures of foreign structures and neatly written text on their failed promises of 2011. They are asking the electorate to forget 2011. Ramotar promises this time around he will get it done. What doggy doo! Who is this man trying to fool? The simplest of all his promises was Local Government Elections. That he could not deliver. He could not deliver a half done project – Hope Canal. Ramotar and that political charlatan, Ramsammy, made dozens of deadline promises. All lies. Their last promise was March 31, that too, came and went, no Hope Canal. The financing of that project is another of Jagdeo’s debacle. Story for another day.     Today it’s about Ramotar and his empty promises, promises, promises. Guyanese can’t take promises to the supermarket. With this man in charge for one more year, there will be NO HOPE FOR GUYANA. Amar Chinkan

Mitwah

GUYANA, SWEET, SWEET GUYANA.  BE CAREFUL WHO YUH VOTING FOR ON MAY II.  DO YOU WANT TO JUMP ON THE ROCKET TO MOON OR THE PATH TO STARVATION, DESTRUCTION, TERROR AND DICTATORSHIP???  THE CHOICE IS YOURS!!!

Nehru

 

Under the PPP/C, there is no real societal development as the great majority of people are merely existing on meagre wages and salaries & remittances.

 

 The private buildings and businesses are erected overnight without any central and regional planning.

 

House lots are given out preferable first to the friends, families and cronies of the PPP/C


The country has no manufacturing base and is merely outlets for fast food  and inferior Chinese imports. 

Mitwah
Last edited by Mitwah
Originally Posted by Nehru:

GUYANA, SWEET, SWEET GUYANA.  BE CAREFUL WHO YUH VOTING FOR ON MAY II.  DO YOU WANT TO JUMP ON THE ROCKET TO MOON OR THE PATH TO STARVATION, DESTRUCTION, TERROR AND DICTATORSHIP???  THE CHOICE IS YOURS!!!

 

Bhai

 

I want to go to the moon with the PPP. Any seats left in the spaceship ?

I am listening very carefully to what Rammo is saying and the business community is firmly behind Rammo.

 

Business is about confidence in investing and Investors are lining up.

 

Guyana is as good as Gold.

FM
Last edited by Former Member
Originally Posted by yuji22:
Originally Posted by Nehru:

GUYANA, SWEET, SWEET GUYANA.  BE CAREFUL WHO YUH VOTING FOR ON MAY II.  DO YOU WANT TO JUMP ON THE ROCKET TO MOON OR THE PATH TO STARVATION, DESTRUCTION, TERROR AND DICTATORSHIP???  THE CHOICE IS YOURS!!!

 

Bhai

 

I want to go to the moon with the PPP. Any seats left in the spaceship ?

Yes Bhai one seat reserved just for you.

Nehru
Originally Posted by Nehru:
Originally Posted by yuji22:
Originally Posted by Nehru:

GUYANA, SWEET, SWEET GUYANA.  BE CAREFUL WHO YUH VOTING FOR ON MAY II.  DO YOU WANT TO JUMP ON THE ROCKET TO MOON OR THE PATH TO STARVATION, DESTRUCTION, TERROR AND DICTATORSHIP???  THE CHOICE IS YOURS!!!

 

Bhai

 

I want to go to the moon with the PPP. Any seats left in the spaceship ?

Yes Bhai one seat reserved just for you.

 

Thanks Bhai

 

I am preparing my Mirdanga for the victory celebrations.

 

I will also put on my best Kurta and all.

 

Get your best chutney music ready for dem Guyanese who like it and we gun have Carib dancing de Quwe Quwe in order to hide his humiliation of defeat.

 

Bring it on !

 

FM
Originally Posted by yuji22:
Originally Posted by Nehru:
Originally Posted by yuji22:
Originally Posted by Nehru:

GUYANA, SWEET, SWEET GUYANA.  BE CAREFUL WHO YUH VOTING FOR ON MAY II.  DO YOU WANT TO JUMP ON THE ROCKET TO MOON OR THE PATH TO STARVATION, DESTRUCTION, TERROR AND DICTATORSHIP???  THE CHOICE IS YOURS!!!

 

Bhai

 

I want to go to the moon with the PPP. Any seats left in the spaceship ?

Yes Bhai one seat reserved just for you.

 

Thanks Bhai

 

I am preparing my Mirdanga for the victory celebrations.

 

I will also put on my best Kurta and all.

 

Get your best chutney music ready for dem Guyanese who like it and we gun have Carib dancing de Quwe Quwe in order to hide his humiliation of defeat.

 

Bring it on !

 

Yall have any idea  how schupid yall does sound wid crap like above?

S
Originally Posted by Sparky:
Originally Posted by yuji22:
Originally Posted by Nehru:
Originally Posted by yuji22:
Originally Posted by Nehru:

GUYANA, SWEET, SWEET GUYANA.  BE CAREFUL WHO YUH VOTING FOR ON MAY II.  DO YOU WANT TO JUMP ON THE ROCKET TO MOON OR THE PATH TO STARVATION, DESTRUCTION, TERROR AND DICTATORSHIP???  THE CHOICE IS YOURS!!!

 

Bhai

 

I want to go to the moon with the PPP. Any seats left in the spaceship ?

Yes Bhai one seat reserved just for you.

 

Thanks Bhai

 

I am preparing my Mirdanga for the victory celebrations.

 

I will also put on my best Kurta and all.

 

Get your best chutney music ready for dem Guyanese who like it and we gun have Carib dancing de Quwe Quwe in order to hide his humiliation of defeat.

 

Bring it on !

 

Yall have any idea  how schupid yall does sound wid crap like above?

Go easy on him. He is the village idiot.

Mitwah
Originally Posted by Shaitaan:
Originally Posted by Cobra:

When the PPP promise something, they will deliver as promise. That's the faith I hold to my heart.

We still waiting on security and reliable electricity.

A reliable and secure source of electricity will be the realisation of the Amaila hydroelectric power project.

 

Security is a world-wide challenge.

FM
Originally Posted by Demerara_Guy:
Originally Posted by Shaitaan:
Originally Posted by Cobra:

When the PPP promise something, they will deliver as promise. That's the faith I hold to my heart.

We still waiting on security and reliable electricity.

A reliable and secure source of electricity will be the realisation of the Amaila hydroelectric power project.

 

Security is a world-wide challenge.

Security is number one priority for any country.

 

In my hometown i can forget to safety the

doors,when on vacation i inform the police

dept they will check on my home daily.

 

Django

Same promises from 2011 Elections. Nothing happened yet. How much longer can Guyana sit and wait on PPP promises and nothing being delivered?

 

Ramotar repeats 2011 election promises at GMSA luncheon

APRIL 23, 2015 | BY  | FILED UNDER NEWS 

…promises cheaper energy, ‘reviewed’ taxes, once re-elected

 

http://www.kaieteurnewsonline....es-at-gmsa-luncheon/

Mars
Last edited by Mars

There's a reason why the PPPC was put into government back in 1992 and thats because the people of Guyana were in dire need of a change. Guyana was in bankruptcy, housing was poor, roads were terrible, health facilities were not up to standard etc. The PPPC had to then take on that burden of bringing Guyana in the good state that its in now and progress will continue after may 11 when the PPPC will win the elections again.

FM
Originally Posted by Conscience:

There's a reason why the PPPC was put into governmentback in 1992 and thats because the people of Guyana were in dire need of a change. Guyana was in bankruptcy, housing was poor, roads were terrible, health facilities were not up to standard etc. The PPPC had to then take on that burden of bringing Guyana in the good state that its in now and progress will continue after may 11 when the PPPC will win the elections again.

Once again the people need change

 

COMING ON MAY 11 2015

CHANGE WILL COME WITH

A NEW GOV'T

 

APNU/AFC WILL BE GIVEN THE

MANDATE TO GOVERN GUYANA

FOR ALL THE PEOPLE

 

 

Django
Last edited by Django
Originally Posted by Django:
Originally Posted by Conscience:

There's a reason why the PPPC was put into governmentback in 1992 and thats because the people of Guyana were in dire need of a change. Guyana was in bankruptcy, housing was poor, roads were terrible, health facilities were not up to standard etc. The PPPC had to then take on that burden of bringing Guyana in the good state that its in now and progress will continue after may 11 when the PPPC will win the elections again.

Once again the people need change

 

COMING ON MAY 11 2015

CHANGE WILL COME WITH

A NEW GOV'T

 

APNU/AFC WILL BE GIVEN THE

MANDATE TO GOVERN GUYANA

FOR ALL THE PEOPLE

 

 

So you are saying let us U TURN and go back to Bankruptcy, TERROR, DICTATORSHIP, STARVATION and INTIMIDATION!!!!!!!!!!!!!

Nehru
Originally Posted by Nehru:
Originally Posted by Django:
Originally Posted by Conscience:

There's a reason why the PPPC was put into governmentback in 1992 and thats because the people of Guyana were in dire need of a change. Guyana was in bankruptcy, housing was poor, roads were terrible, health facilities were not up to standard etc. The PPPC had to then take on that burden of bringing Guyana in the good state that its in now and progress will continue after may 11 when the PPPC will win the elections again.

Once again the people need change

 

COMING ON MAY 11 2015

CHANGE WILL COME WITH

A NEW GOV'T

 

APNU/AFC WILL BE GIVEN THE

MANDATE TO GOVERN GUYANA

FOR ALL THE PEOPLE

 

 

So you are saying let us U TURN and go back to Bankruptcy, TERROR, DICTATORSHIP, STARVATION and INTIMIDATION!!!!!!!!!!!!!

nah Bhai it will never be like that,this is the 21st century

and the cold war  gone a long time ago.

Django
Last edited by Django
Originally Posted by Demerara_Guy:

.y, but clearly we need a new deep water harbour to deal with the new type of maritime trade taking place,” he said.  This is especially pertinent in light of the expansion of Panama Canal and the possibility of a new canal being dug in Nicaragua. He added that the Caribbean is already preparing for these developments with Jamaica now building a new deep water facility and Cuba already owning one.

 

“We have a distinct advantage in the sense that we are both a Caribbean and South American country,” he said which is ripe for Guyana to become a maritime hub.

 


Do these PPP clowns know what a hub is?  For a hub to succeed it has to have competitive access to other markets, in addition to having its own large market.  Jamaica is located just north of Panama, in the middle of the Caribbean region and just south of North America.

 

Guyana is located very far east of Panama and all of the economies neraby are also small.  The PPP has REFUSED to build a proper highway or railway, evfen though the Brazilians have offered to fund it.  I assume that the Brazilians were not going to use PPP cronies, or line PPP pockets, so the PPP refused them.  So without ready access to Roraima what scope if there for trade into South America?

 

Its time that these roti shop peasants are put out of their misery, and people who have a more sophisticated understanding about how the world works, and more important, a greater willingness to work with people outside of their immediate network, replaces them.

 

The Berbice harbor is a poor choice even for Guyana.  55% of the population is located around the Demerara River so the harbor will have to be easily accessable to this market. A smaller harbor can be developed for the Berbice region.

FM
Last edited by Former Member

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