So ammmm....does the butthurt feelings of disgruntled businessmen thwart the will of 51% of the electorate who voted for this new Government for a full 5 year term?

Remember how the PNC behaved when they lost elections? They acted like sore losers and you and I scorned them for that behavior. Why is this behavior any different than PNC-Hoyte sore loserism?

New Board approved for GO-Invest

By Kiana Wilburg   The new government seems determined to rejuvenate the “seemingly lethargic” Guyana Office for Investment (GO-Invest), as Minister of State Joseph Harmon disclosed yesterday that Cabinet has granted the permission for the appointment of a new board for the entity. Harmon made this statement at government’s first post-Cabinet briefing at the Ministry of the Presidency. GO-Invest is a government agency which provides advice and concessions, when necessary, to investors who are looking for the best way to start a business in Guyana. It also enables entrepreneurs from around the globe to tap into the wealth of trade and investment opportunities available in the country. Harmon told members of the media that the life of the GO-Invest board came to an end in 2014 and the company is now operating without one.

Keith Burrowes

He said that given this situation, Business Minster Dominic Gaskin made an application for an interim board to be appointed for the purpose of guiding and directing policies for the agency over the next six months until a permanent board is appointed. Harmon said that Cabinet subsequently gave its approval for the interim board to be appointed. He said that it will comprise persons from the Guyana Revenue Authority (GRA), the Guyana Lands and Surveys Commission, the Ministry of Foreign Affairs, the Private Sector Commission, the Ministry of Tourism, the Ministry of Business, and individuals in the Diaspora. Gaskin was also approved by Cabinet to appoint persons to the board as he sees fit and based on the realities of Guyana. The Chief Executive Officer (CEO) of the Guyana Office for Investment is Keith Burrowes. Earlier this week, Burrowes had called the media indicating that he is going to step down from the agency, saying that he has had it with the unwarranted criticisms from some quarters. Burrowes then made an about turn, choosing instead to put his decision to leave the agency on pause. But considering the new board to be appointed, his future at the company is now shrouded in uncertainty. In an interview with this newspaper on Sunday last, he had said that his decision to hit the road was made primarily on comments circulating in the media that he is perceived as a “political appointee of the People’s Progressive Party (PPP).” Business Minister Gaskin is also reported as saying that there is the perception of crucial problems plaguing the entity and he is determined to rectify these, even if it means reshuffling senior management. Burrowes had said that he agrees with the Minister’s comments and as such, would “do the good thing by stepping down.” “I am happy that the new government has taken this position that there will also be no more political interference and political appointments in GO-Invest. But I would like to say that we are an organization that carries out its work regarding promoting investments in Guyana. We do our work.” But Burrowes took offence to some of the statements made recently by some members of the PSC during a recent meeting with President David Granger. “I keep hearing them (PSC members) say how they want to see GO-Invest revamped, but I have some questions for them. Why they never prepared a list of suggestions to give to the government as to how the agency can be developed instead of merely casting stones? These statements uttered by the so-called PSC come from a few recycled persons or all their members?” said Burrowes. Burrowes also held a position as a Board Member of the cash-strapped Guyana Sugar Corporation (GuySuCo). But due to years of poor management, he, among others, was forced to tender his resignation. While he sat at the helm of the investment company, he was also accused of failing to keep proper documents on the number of concessions the entity was able to facilitate. There have also been several cases where major investments were steered away from the agency due to political interference. In a previous interview with Kaieteur News, Burrowes said that the company was kept in the dark in relation to many foreign investments in Guyana. Mr Harmon had spoken to the issue of political interference when his party was in opposition. He had said, “We are aware that in the past there were instances where Ministers tried to interfere by giving directions of a political nature to businesses seeking to invest in Guyana.” “This needs to change, because it will not foster a healthy environment for which investors need to feel safe. We hope that the support for institutional strengthening of the agency will follow the appointment of Mr. Burrowes as he seeks to energize GO-Invest, so that it becomes what it was intended to be— a one-stop shop for investors in Guyana.” Minister Gaskin expressed that he had conducted some preliminary discussions with Burrowes recently and he is hoping to make moves to strengthening the entity. He said that he wants to bring an end to the political interference which took place under the previous administration. Gaskin said that he has a number of plans in store for the agency but is intent on regularizing the manner in which business is done in Guyana, and ensuring that investment opportunities are available to all and benefits granted as the law so allows.

With the expansion of commercial activity in Georgetown and its environs having increased at a rapid pace in recent months, the acceleration of construction activity notwithstanding, office and trading space and other forms of accommodation are now at a premium and high demand has resulted in soaring prices. More than that, the concentration of more commercial buildings in central Georgetown has irrevocably altered the appearance of the city and compelled investors to seek out new options as far as building space is concerned.

Snews....

This is real progress under the APNUAFC Coalition.

So who are on the new board?

Is the slow down due to problems on the production side, not the commercial side?

Investor's confidence might be at a low, they are waiting to see how this all  unfolds.  Hopefully it turns around.

Is it correct that they made a statement? During my travels in Guyana, I have spoken to many business people and they ALL indicated that business was very bad. I Had attributed this to the the fears about violence but thought that it will pick up. I still think it will, but will take a lot longer. Entering Canada on Wednesday, the customs officer asked if I had currency. During our conversation, he indicated that a lot of currency was coming from Guyana. Just anecdotal evidence at this point. also, one of the posters, TK, if I remember correctly, indicated that he expected no growth next year because he thought that the PPP had fudged the numbers. My thought at that time was that he was setting up an explanation for mismanagement by the new government. I think that part of the problem is that the government is taking so long to get going and think that going after the PPP is what government is about. We will know better as it unfolds. 

It appears that way to me as well.

Another thing, there are press statements about the terminations of Boards. I am yet to see any statements about new Board members. Do you know anything about the Interim Board for GUYSUCO-supposedly to manage the company for 6 months?

That is only a figment of their imagination.  There are no investments in Guyana since the alliance stole the election.   The Government has done nothing to ensure that there is an atmosphere of trust.  ' Firing Indians and appointing blacks, is not progress. it is digging a hole to fill a hole. Where is the progress, O wise one!

Nothing announced as yet. They keep saying that they will do all of these things and then not following thru immediately. No interim board as yet.

Business people have to recalibrate.

Those customs evaders have to figure out who are the new people to be bribed, how to revamp their runnings, how to evade VAT, how to continue their wrongdoings without getting caught now that accountability and enforcement are likely to be stricter, etc.

Most of the firings are justified, and more people needs to be fired.

Govt must focus on the 100-day plan.