Operations of Go-Invest increases risk of corruption – APNU

Mar 16, 2014 News

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A Partnership for National Unity’s (APNU) Shadow Minister on Public Works and Telecommunications, Mr. Joseph Harmon has categorically stated that the weakness of the Guyana Office for Investment (GO-Invest) increases the risk of corruption.
GO-Invest on 190 Camp and Church Streets, Georgetown is an organization which provides advice and concessions when necessary, to investors who are looking for the best way to start a business in Guyana.

It also helps foreign entrepreneurs tap into the wealth of trade and investment opportunities available in the country.
In an invited comment, Harmon, a Member of Parliament said that the organization was intended to be a “one stop shop for investors but government has over time, weakened the office.”
He said that the company is too important to the life blood of the country for it to be allowed to dwindle as it is doing. “So what has happened is if you need a land title you have to go to the Guyana Lands and Surveys Commission and if you need a permit you need to go to Ministry of Finance. This simply means that everything you need, you have to go to some Government entity. That process increases the cost of doing business in Guyana because you have to be going all over the place and it increases the risk of corruption. You have more opportunities for officials to be corrupt and this is what the Transparency International report said. That official corruption was at a very high level… If you have a clear one-stop shop, clear policies with a professional board and a direct head you can get business done in a more efficient manner rather than having to run all around.”
The politician said he is not pleased with the poor, inadequate business infrastructures that are used to facilitate potential investors.
He recalled one incident where he visited the Registrar of the Lands Registry and noticed that investors were crammed in a room awaiting titles or waiting to make inquiries with regard to titles.
“There are hardly any lights and no air conditioning, and the Registrar and the staff at the back; you have to wait on them at their leisure… We have to correct these things. We need to create the environment and physical structure for businesses to be conducted in a proper way. Go Invest should be properly equipped… I think we need to have the management system in place to make it functional and we need to have a Government in place with an attitude that is welcoming to business and will remove the barriers to conducting businesses in Guyana.”
Go-Invest Chairman, Keith Burrowes, in an interview with this publication however sought to clarify what he described as “key things about Go –Invest.”

He said that under the Guyana Investment Act 2004, it says that the organization (Go-Invest), was established under the Public Corporations Act 1988, and it shall be the corporation responsible for facilitating and promoting investment in Guyana. It shall provide investors with all forms necessary to apply for incentives and assist them in completing forms accurately.
Burrowes said that the organization was once a one stop shop for investors but the functions that gave it that branding were removed and placed under appropriate Government Ministries for reasons unknown to him. He was also unable to say when these functions were moved.
Nevertheless, the investment agency he says, now serves to facilitate the investors with proper referrals to the necessary agencies so that the work is done smoothly. When asked if the agency has adequate resources to carry out its current mandate in an efficient manner, he said, “No we do not.”
He even went on to express that Go- Invest is also supposed to be doing promotional work but  are starved of the physical and human resources to do even that.
As it relates to Harmon’s belief that the company’s weaknesses is creating opportunities for corruption he said, “I am not going to comment on that.”
He also expressed that he had a meeting with President Donald Ramotar at which it was agreed that the investment company needs to be promoted. “We are working on that.”
The Chairman added, “We are also working on a plan to enhance the institution. Our plan mainly revolves around ensuring that the investor doesn’t have a long time to wait to get certain concessions… But right now we are enhancing the knowledge of the investor as to what they would have to do when they go to a particular agency.”
Burrowes admitted that at this point, the company lacks any specific data on which markets or areas have the most potential for investment opportunities. He contended however, that the company is working on improving this.

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