Political stability important to economic development – Pres. Granger
DPI, Guyana, Thursday, September 19, 2019
On Thursday, His Excellency, President David Granger said the Coalition Government recognises the importance of political stability in enhancing the country’s economic development and assured that there is no political unrest in Guyana.
The Head of State was at the time delivering the feature address at a luncheon hosted by the Guyana Manufacturing and Services Association Limited (GMSA). The president emphasised that political stability is crucial to enhancing the business environment as it “increases investments, reduces risks and the cost of doing business, and boosts investor confidence in the economy.”
He further assured that the government will not condone violations of the law or public security.
“The business community need not fear political violence or social unrest, my government will do everything to ensure political stability, the business community has nothing to fear from the forthcoming elections.”
The Head of State further committed to ensuring a secure environment for business, communities and citizens in the process leading to, during and after general elections.
In his remarks, President Granger also noted that the services and manufacturing sector has significantly contributed to national development and expanded the economy over the last four years.
“The two sectors combined, contributed to more than 60% of Guyana’s Gross Domestic Product (GDP) in 2018,” he said.
The Head of State remarked that the cooperation between the government and the GMSA is bearing fruit.
“The economy is being rebalanced to become more competitive and resilient… it is being prepared and primed for rapid economic growth.”