Public-Private Partnerships crucial for local development

DPI, Guyana, Tuesday, July 17, 2018

The fostering of public-private relationships is important to the development of the nation.

This is according to Finance Minister, Winston Jordan who was delivering the feature address at the launch of the Guyana Revenue Authority’s new container scanner site at the Guyana National Industrial Corporation wharf. The Finance Minister stated, “it was only recently, the government launched its public-private partnership framework.”

The minister explained that the framework is intended to “attract foreign investors to work along with the local sector and/or the government in trying to push our infrastructure.” Referring to the recent commissioning of the scanning site as an example, Minister Jordan stated that it was through collaboration between the Guyana Revenue Authority and the Guyana National Industrial Corporation, this was made possible.

The Finance Minister said, “contrary to what people feel there is no unending treasury” since the monies garnered are from tax collections and grants. He stressed that “public-private partnerships are needed more than ever to push our developmental drive in the country.”

The Finance Minister highlighted that fruitful partnerships are born when the government and the private sector work along with each other towards a common goal.

He urged that public-private partnerships be explored so it can be used to overcome obstacles in the development of the nation.

By: Anara Khan.

Image: Keno George.