Government remains committed to developing Guyana’s Value-Added Sector- Minister Gaskin

DPI, GUYANA, Thursday, July 27, 2017

At the University of Guyana’s, Diaspora Dinner at the Ramada Princess Hotel, East Bank, Demerara Wednesday evening, Minister of Business, Dominic Gaskin said that the Ministry of Business and the Government of Guyana remains committed to the development of Guyana’s Value-Added Sector. Minister Gaskin pointed out that one of the strategic objectives of his ministry is to “Increase Guyana Value Added Exports”.

Minister Gaskin noted that, “Often times countries urge investors to invest but do not specify the areas that need investments”. He took the opportunity to identify some of the areas that the Ministry and the Government would like to see investments.

“There are some key sectors agro-processing, forestry sector and tourism sector. If someone can find a way to add value to the hundred of thousands of ounces of gold exported last year in its unrefined state, I would be over the moon”, the Business Minister said.

The Business Minister also identified the Business Process Outsourcing Sector (BPO) as one of the industries that can employ numerous young people. He made reference to surveys that have shown that the sector can accommodate approximately 30,000 jobs. However, he noted that it currently employs less than 5000, and he pointed out its potential for growth.

Additionally, the Minister said that the Government of Guyana believes that the diaspora brings certain advantages to a country. He added that the Ministry and the government is willinging to engage with a view of finding solutions and opportunities that are mutually beneficial.

Noting that expertise is needed in many of the struggling sectors, he opined that the Diaspora possess what was needed to assist in these areas.

“In terms of confidence building measures, I believe it is important that the government share its vision, and share its priorities, and give a clear indication to the Private Sector and to the investor community of which sectors, it wants to promote.

When government says to you that, these are sectors that we want to develop, I believe that it sends a strong signal. Its tell you that if your investing in this particular sector, you can look forward to a certain level of government support”, Minister Gaskin highlighted.

Minister Gaskin also pointed out that work is being done on a National Energy Policy and the Public/ Private Partnership Arrangement; adding that once finalised, it will make it easier to accommodate investors.

 

By: Gabreila Patram