Rapid and unprecedented economic growth expected over next five years – says Minister of Business – as TGI awards outstanding Guyanese distributors
RAPID and unprecedented economic growth is expected over the next five years, as the Government of Guyana wants development to accompany growth, says Minister of Business Dominic Gaskin “We do not want a cowboy economy and therefore will not adapt nor encourage a ‘Wild West’ approach towards doing business in Guyana,” Minister Gaskin declared.
The Minister of Business on Sunday evening was addressing the gathering at the Pegasus Hotel during the TCL Guyana Incorporated (TGI) 2014 Customer Appreciation and Awards Ceremony.
In congratulating TGI for their years of service in Guyana, Minister Gaskin declared that Guyana means business and the Ministry of Business (MOB) will take measures to demonstrate this, while legitimate investors generally shy away from lawless jurisdictions, they cannot afford to chase away a single legitimate investor.
“We understand that the tax revenue required for running and developing this country must be generated by private sector investment, therefore, there must be greater compliance to all business to maximize government’s revenues, create a more level playing field and develop a more competitive private sector,” he said.
The MOB, he noted, will be actively seeking to promote, encourage and facilitate expanded investment in Guyana’s economy, with a particular focus on creating a better environment for businesses to operate, developing the value added sectors, encouraging successful entrepreneurship and greater competitiveness within the business community.
He signaled to the officials of TGI that the company’s priorities are the hallmark of a serious company that understands the correlation between good relationships and long-term relationships.
The seriousness was also demonstrated when a matter was brought against the State to the Caribbean Court of Justice (CCJ), when the court ruled that Guyana acted in violation of the Treaty of Chagaramus by failing to implement the common external tariff on cement imported from outside our region.
According to the Minister, “as recently reported the matter is still to be settled as he would prefer a better relationship with the State as we move forward… I look forward to better cooperation with business and the investment community.”
He noted also that compliance is an immediate example of an area that is of mutual concern as the case demonstrated, and compliance is a “two-way street” and we live and work in a nation of laws and both businesses and Government must operate in accordance with those laws.
Government must meet its obligations under the various treaties that govern global cooperation and must understand the consequences of failing to make legal provision for those obligations to be fulfilled.
“Respect for the law must be reintroduced and our government will uphold and respect the laws, as we look forward towards warm and fruitful relationships with the TGI, while we work towards developing this nation,” he said.
Meanwhile both the TGI manager, Mr. Egwin Daniel and TGI’s Chief Executive Officer (CEO), Mr. Jose Seijo, expressed their gratitude towards their customers and also their confidence in the potential of the country.
They also assured the gathering that TGI will remain committed towards doing business here and developing Guyana.
AWARDEES
Awarded Sunday evening for the highest volume of cement sold in 2014 were: Kunjbeharry Parbat for the West Coast of Demerara, Toolsie Persaud Limited for Georgetown, Beresford Harry Lumber Yard and General Store for Linden, Builders Hardware Store for the Essequibo Coast and David Persaud Investment Limited for the East Coast of Demerara, while Toolsie Persaud limited copped the top distributor for the entire Guyana.
