|
Business culture in Guyana must change, says official
There is a need for a change in the business culture that currently
exists in Guyana to ensure an environment is created where there is
more information sharing among businesses.
This is the view of
Chief Executive Officer of the Guyana Office for Investment (GO-Invest)
Geoffrey Da Silva, who made the remarks at the Poverty Reduction
Strategy Paper (PRSP) Consultation on Private Sector Development held
on Monday.
Da Silva noted that there is no need for a
successful businessperson to reveal his/her detailed plans, but there
are many young entrepreneurs who would appreciate some advice and
success stories from experienced persons.
The enhanced information sharing culture could be used as a source of encouragement for young entrepreneurs, he said.
Reference
was made to several small businesses that have attained significant
successes in recent years, particularly in the Information
Communication and Technology (ICT) arena which has created new jobs.
It
was noted that 10 of the 18 projects recently developed in ICT are
small businesses while of the 63 wood businesses, 34 are small. In the
tourism sector, 61 of 78 are small businesses while there are 47 out of
81 in the agricultural sector.
Overall, small businesses in
Guyana account for 50 percent of private sector investments. It was
pointed out that there are many small businesses that export items such
as handicraft and processed food to the Caribbean and other countries
and these ventures have been very successful.
The need for a
better understanding of the private sector and for it to undergo a
process of reformation and restructuring were also highlighted as focus
continues to be placed on further development in this area.
The
PRSP on Private Sector Development points out that Guyana’s public and
private sectors strongly support the need for diversification through
widening the production base of the economy and improving
competitiveness. The National Competitiveness Strategy was formulated
in support of this and is the practical expression of this partnership
between Government and private sector which recognises the dual
responsibilities that each must play in delivering enhanced national
competitiveness and greater economic growth.
Minister of
Finance Dr Ashni Singh, Minister of Tourism, Industry and Commerce
Manniram Prashad and Minister of Labour, Manzoor Nadir were among those
present at the consultation that included participation of
representatives from several small and micro-enterprises,
Non-Governmental Organisations (NGOs) and international development
organisations.
Comments
|
Guyana