Culture of entrepreneurship needed to exploit business opportunities

-Finance Minister at ceremony to honour Dr. Yesu Persaud   

Senior Minister in the Office of the President with responsibility for Finance, Hon. Dr.  Ashni Singh has called for the nurturing of a culture of entrepreneurship to take advantage of the economic opportunities available in a booming Guyana.

The Minister made the remarks today at the unveiling of a life-size bust in honour of Dr. Yesu Persaud at the office of the Institute of Private Enterprise Development (IPED) on South Road, Georgetown.

Dr. Singh said entrepreneurship is something the Government supports.

“It is my firm belief that in today’s world promoting a culture of entrepreneurship at all levels, including in the way we educate our young people, including in the environment and incentives we create, and this is something we feel very strongly about in Government … it is something that President Irfaan Ali’s Government … feels strongly about. 

And so, institutions like IPED, notwithstanding the phenomenal role that IPED has already played, I believe that IPED and institutions like it have an extremely important role to play in promoting and cultivating entrepreneurship even more widely.” 

The Finance Minister said while the current entrepreneurial figures are pleasing, he believes there is potential for more significant growth. He urged Dr. Persaud’s successors at IPED to push the frontiers as he did.

“This is a remarkably exciting time, there’s a lot of opportunities for entrepreneurial activity, but we need to do what it takes … each of us in our own way, government, institutions like IPED et cetera, do what it takes to catalyse this.”  

Dr. Singh said not only does entrepreneurship offer remarkable economic opportunities, but it is also a way to contribute to society. 

Since it took office in August 2020, the has Government endeavoured to create an enabling environment to foster entrepreneurship. To date, it has allocated over $600 million for the development of prospective and small business owners. 

Dr. Persaud is the founding chairman of IPED, which he served from 1985 to 2018. Wednesday’s bust unveiling was in recognition of his contributions to business development.