GO-Invest working to create business-friendly environment
The Guyana Office for Investment (Go-Invest) is working aggressively to create a business-friendly environment to attract foreign investors. This was disclosed by Go-Invest Chief Executive Officer (CEO) Dr. Peter Ramsaroop.
Dr. Ramsaroop, an Economist, told the Department of Public Information (DPI) that previously the country’s business environment deterred many companies from making major investments. He explained that investors need assurance that they would be able to get the necessary licences, land, permits and everything that goes with making an investment.
This is one of the reasons why there was little to no investment over the last five years, he said.
“Our office has really been analysing that. We have been meeting with the various agencies and if an investor is getting a hard time with a permit, we tend to help them figure out what it is they are missing and push that investment along,” Dr. Ramsaroop explained.
Go-Invest’s work, he said, will play a major role in boosting Guyana’s economy.
Recently, President Dr. Mohamed Irfaan Ali said an ‘Electronic Single Window’ for Trade will soon be established. This is expected to improve trade and the ease of doing business in Guyana by having all the requisite permits available in one place.
However, while the intention is to attract investors, creating jobs for Guyanese is at the forefront of the initiative. The CEO said this is made clear to investors entering Guyana.
“We want investors to feel like we want them because ultimately, and I tell all investors companies coming that Guyana is looking for partners, we are looking to make sure our people are employed, creation of wealth for our people. We understand you have to make money and a return on your investment, we are going to be very cognisant that at the end of it all Guyana benefits,” Dr. Ramsaroop explained.
Dr. Ramsaroop said President Ali’s robust economic agenda will see major investors pouring into the country. Last year, the American Stock Exchange – NASDAQ said Guyana is the fastest growing economy in the world.