Guyana is now an economy where multinational companies invest

Dear Editor,

Over the past years, we have seen an influx of high profile investors, coming to Guyana, and along with local investors, make significant investments in our country. This is representative of the growing confidence in Guyana, as an investment environment, something that simply was not there 23 years ago.

It is part of the PPP/C’s dream to make Guyana a more marketable and suitable environment for foreign investors. I would like to highlight some of the works that the PPP/C did, so as to produce this very comfortable environment for investors.

One of the conditions that have to be in place, in order to attract investors, is a climate of political stability and peace. Guyana, over the years, has made significant strides in achieving political stability and peace.

There are now various pieces of legislations that support legal protection and procedures for doing business in Guyana. This has definitely aided in the attraction of investors into our country. The fact that investors are legally protected boosts their confidence.

Over the last 23 years, Guyana has seen a massive improvement in social infrastructure. There are better roads, bridges, access to potable water and much more reliable electricity supply. The social infrastructure of the country has seen massive improvement.

Paved roads now open up vast areas of lands. Access to communities is at its peak in Guyana. Gone are the days when blackouts used to last for days. Better access, electricity and water mean that investors are better able to get their goods and services to the markets. The infrastructure needed for investment simply was not there 23 years ago.

Government also offers generous tax holidays to investors. Duty free concessions are given to investors, and these significantly reduce overhead costs. Lower overhead costs mean an overall lower cost of production.

Guyana is on its way to universal secondary education. Guyana’s workforce has matured and this has made it easier for companies to come and invest. An educated workforce means that skills are available locally, and investors will not have to import talent from overseas.

This is especially true for the numerous call centers that we have seen popping up over the years. Qualfon and Clear Connect employ thousands of young Guyanese.

They have both given positive reviews of their Guyanese staff.

Guyana has shown continuous upward momentum under the PPP/C. We have made this possible through better education, better infrastructure, better legislations, more hospitable social and political climate and better tax holidays.

With projects like a deep water harbour, CJIA expansion, highway expansions and hydropower, Guyana can only climb further up. Over the past 23 years, we have seen tremendous growth and positive change.

Guyana is now an economy where multinational companies, like ExxonMobil and Marriot, invest. What can we expect next? Google? Samsung?

Davendra Kissoon