By: Marvin Cato | HGP Nightly News |
The Georgetown Chamber of Commerce and Industry (GCCI) has welcomed a series of measures announced by President Irfaan Ali, describing them as forward-looking initiatives aimed at strengthening entrepreneurship and advancing private sector development in Guyana.
In a statement issued on Thursday, the Chamber said it was pleased with the keen attention paid to policies outlined by the President during his national address on Wednesday, particularly those focused on improving the business climate over the next five years.
The GCCI highlighted the significant impact of the government’s small business grant programme, noting that more than 50 percent of the beneficiaries are women. According to the Chamber, few jurisdictions can point to policies that have had such a direct and inclusive impact on women-owned enterprises.
Among the other initiatives welcomed by the business body are plans for the establishment of a junior stock exchange, the rollout of a national e-wallet system, the creation of special development zones, and additional measures designed to modernise Guyana’s economic framework.
The Chamber also took note of the President’s announcement of a Guyana Development Bank, which is expected to receive an initial injection of US$200 million. GCCI described this as a keystone initiative that could significantly improve access to financing for businesses, particularly small and medium-sized enterprises.
According to the statement, the proposed measures reflect a clear focus on building an enabling and inclusive business environment. The Chamber specifically commended the prioritisation of microenterprises, women-owned businesses, and persons living with disabilities, noting that such policies align with broader goals of equitable economic growth.
The GCCI further indicated that it is looking forward to the implementation of a flat tax on double-cab pickups, an issue long advocated by the business community. The Chamber reaffirmed its commitment to continued engagement and advocacy in support of initiatives that promote sustainable private sector growth and national development.
