Chinese being updated on Guyana’s business laws

By Whitney Persaud and Leana Bradshaw

Chinese Association executive member Brian Yong

A top executive of the Chinese Association in Guyana has given assurance that efforts are being made to ensure Chinese business owners are aware of the laws and regulations under which they operate.
Executive member Brian Yong explained that efforts are being made to ensure that the Chinese businesses become aware of the rules and legal obligations that they must follow once they operate in the country.
“These people are here because they want to make a living just like everybody else,” he said.
Yong said that seminars and other initiatives are already being undertaken to make Chinese nationals more aware of these laws.
“We had someone from the Guyana Revenue Authority come and talk to Chinese businesses about value added tax, and a representative from the National Insurance Scheme also came and made a presentation,” he said.
He believes that every person should be given the opportunity to establish legitimate businesses, since Guyana is still in its developing stage and needs a strong and vibrant private sector.
Mings Services and Products Chief Executive Officer Stanley Ming also reiterated the call for all businesses to get registered and be up to speed with the laws of Guyana. He believes that every person should be given the opportunity to establish a business if they so desire.
He said efforts needed to be made for Chinese in Guyana to learn the English language so that language would not be a barrier.
Ming said that presently Guyana needs as many people and opportunities as it can get to make the country more progressive. He said the country should welcome open border relationships with various countries like Brazil, China and Caribbean territories.

Mings Services and Products CEO Stanley Ming

“We need to get these people, because they can offer tremendous opportunities for our country’s development,” he stressed.
He noted that investors should be welcomed, as it bodes well for the future of Guyana. He said, however, that it must be ensured that these business persons are in compliance with the laws of the country.
“We need them, both their ability to do business and technical skills,” Ming added. Chinese businesses have been playing a leading role on the international economic landscape penetrating market and business networks. The Chinese economy is now one that is almost surpassing the leading economy in the world – the United States of America.

Open economy
Meanwhile, weighing in on the issue, Junior Finance Minister Juan Edghill said Guyana’s economy is one that allows for an open market, where anyone, local or foreign, can set up business, once the playing field is level and fair and they operate within the law. He said this is the across-the-board view of government, the business community, and the private sector.
The minister’s comment was made in light of concerns expressed by some sections of the local business community about the influx of foreign businesses and reports of non- compliance with labour and tax laws, as well as inferior products.
Edghill stressed that, in order for a level playing field to be achieved, strict systems must be implemented to ensure regulations relating to standards and quality are met. He believes the setting up of more businesses allows for greater access to a variety of commodities, competition among retailers, and more affordable prices.
In this regard, Minister Edghill addressed claims being spread about stores owned by Chinese nationals in Guyana. He said the Guyana National Bureau of Standards must continue to carry out its mandate. “We must be able to have value for money, have quality and maintain proper standards,” he said