New Single-Window Clearance System reduce red tape, cost of doing business
DPI, Guyana, Saturday, August 8, 2020
The new PPP/C government, lead by His Excellency, Mohamed Irfaan Ali, will be creating a Single-Window Clearance System to reduce bureaucracy and the cost of doing business.
The Head of State made this disclosure during his Inauguration speech at the National Cultural Centre (NCC).
President Ali said the new system will make it easier for local and foreign investors to start-up and establish businesses in Guyana – an economy which has been forecasted by the World Bank to grow by 52.8% this year – surpassing all 26 Latin American and Caribbean states.
This huge projected growth, the President noted, is a reward of our considerable oil and gas finds that promise recoverable petroleum resources which estimate more than eight billion barrels.
“We are conscious that the proceeds of this bounty must be managed in a transparent way that will assure the people of Guyana that they will be the beneficiaries in a fair and equitable manner,” he added.
It is, for this reason, the government will establish the legal and regulatory foundation upon which a new and modern economy will be built – striking a vital balance between traditional sectors and the new and emerging industries, including oil and gas, technology and communication.
“Our legislative agenda will create a regulatory framework to enhance sustainable productivity, but with a human face and in an environmentally friendly atmosphere,” the President said.