Foreign ownership of Guyanese companies

May 21, 2008 Letters

Dear Editor,
I write in relation to the matter at caption.

At the outset, I wish to make it clear that I welcome foreign and regional investments in Guyana that are relevant and beneficial to the Guyanese people.

The imperatives of globalisation notwithstanding, we have witnessed both Europe and America having to take protectionist measures against the onslaught of a burgeoning trade imbalance with China.
It is in this context that I contend that foreign owners of Guyanese companies should not be allowed to ride roughshod over the Guyanese workforce.

The Government, in privatizing companies owned by the Guyanese people, has the highest duty to ensure that the workers are not left to the mercies, whims and fancies of foreign owners.
The Government cannot turn a ‘Nelson’s Eye’ to the welfare and conditions of service of the Guyanese workers under new foreign ownership. As a matter of principle, foreign owners of Guyanese companies should not be allowed to do to Guyanese workers what they cannot do to workers in their own countries.
Privatization agreements must, therefore, insist on prospective foreign owners of Guyanese companies undertaking the following inter alia: –

(i) The immediate unionisation of their workforce; or
(ii) the immediate recognition of an existing union.
(iii) The making of adequate and immediate payments for severance and redundancy where:
(a) the worker does not wish to work with the foreign owner; or
(b) the re-organisation of the workforce is effected initially, or delayed for several years, tactically.
(iv) Managers or other agents of foreign owners of Guyanese companies must not interfere in or take sides in local politics.
(v) Managers/agents of foreign owners must not, at the behest of any politician, target, harass or dismiss a Guyanese worker; and
(vi) managers/agents of foreign owners must not display scant regard for the long years of service of the employees they have inherited.
Provision for penalties for any breaches of these undertakings should be included in the privatization agreement.

Mr. Editor, in concluding, for now, I venture to say that the observance by the Government of the above premises would go a far way in securing protection for the Guyanese worker in a company taken over by a foreign owner.

Basil Williams
Attorney-at-Law

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Foreign ownership of Guyanese companies

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