Government
has taken several steps to create a conducive business climate
A GINA release
March 3, 2004
The Government of Guyana has taken several steps to ensure that
a conductive business environment is created for the private sector.
Government has crafted several pieces of beneficiary legislation,
such as the Small Business Act, the Investment Act and the Securities
Industries Act
Additionally, measures aimed at financial reform are also a few
private sector complementary measures Government has crafted.
Financial Reform has led to the opening of the financial market
to competition and market prices being determined by the forces
of demand and supply.
Additionally, Government has succeeded in maintaining a stable
economic climate so as to attract investment.
Further, macro economic stability - inflation rate remains at
single digits, growth rate is favourable, compared to other countries
and the exchange rate is a major contributory factor to a conducive
investment climate.
Infrastructural development, such as roads, bridges, buildings
and others has complemented private sector development.
Despite closure of a few businesses around Georgetown, several
new ones have opened, while some are currently under construction.
The physical evidence of new, vibrant businesses opening access
the country has proven that investment is forthcoming.
In the global context, businesses have to constantly change in
order to keep up with competitors. Often, if they do not, they
go under.
Technological advancement and innovations are major contributory
factors to business survival.
The development of human resources capabilities is another key
to business survival.
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Wednesday,
March 3, 2004