Government assures support for private sector’s growth

DPI, Guyana, Thursday, October 12, 2017

The Private Sector has been assured of Government’s support to grow and develop.

Minister within the Ministry of Finance, Jaipaul Sharma says that government recognises the substantial economic and social impact of the private sector on the Macro-economy and looks forward to it taking up its rightful role.

Minister within the Ministry of Finance, Jaipaul Sharma posing questions to the panel at the Guyana Business Summit 2017.

In addition, Sharma said that government will continue to institute economic policies favourable to the private sector. “The reduction of the corporate tax rate from 30% to 27.5%, the introduction of a dual tax system for companies involved in commercial and non-commercial activities and the fiscal incentives to promote investments in the context of a green economy are initiatives to foster private sector development,” the minister said.

Recognising the importance of the Private Sector as an integral part of the economic and social landscape Minister Sharma told those gathered, “This government is aspiring to structural transformation in Guyana to foster inclusive growth and development.” He noted that in the process, the administration is cognizant of the crucial role of the private sector. It is for this reason that in 2017 fiscal measures were implemented to facilitate private sector expansion and sustainability.”

The Guyana Business Summit 2017 was hosted over two days at the Guyana Mariott, by the Private Sector Commission with financial assistance from the Inter-American Development Bank (IDB). Among the presenters were representatives of the Government, the Parliamentary Opposition and Civil Society.


By: Kidackie Amsterdam


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