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GO-Invest CEO attacks PSC
– Challenges body to “stop parroting negative comments”
By Kiana Wilburg
Guyana Office of Investment (Go-Invest) Chief Executive Officer, Keith Burrowes, lashed out at the Private Sector Commission (PSC) which has been critical of the entity for its failure to contribute significantly towards Guyana’s economic growth.
Burrowes now challenges the “critics” of the business society to state publically, what their grievances are with the entity. He asserts that their “grumblings” will be in stark contrast to his Client Survey which ranks the entity’s performance highly.
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.
CEO of GO-Invest, Keith Burrowes
In an interview on Tuesday, the CEO said that some members of the business community have been accusing the entity of not carrying out its mandate effectively and efficiently. He expressed his frustrations with the said claims stating that the very members who are “parroting the negative comments” are not providing any recommendations for development. Burrowes also claims that some of these very businessmen who make these utterances were assisted by the agency at some point and were granted certain concessions.
“I believe it is high time that we start looking at a way in which we can determine the long term benefits to the Guyanese economy as it relates to concessions that are given to investors.”
He added, “I want to make clear that Go-Invest has done several client surveys which are not done by its members. It is an independent survey and we have always ranked in the 90 percent average when it comes to delivering to our clients and our performance thus far with the resources at hand.
Now we have a one week response rate when investors come to us. If businessmen are late providing us with certain information what do you want us to do?” The CEO added that one of the many documents that is a requirement by his agency is the Audited Financial Statements of certain companies. The provision of this document, he said, is often delayed. He said that the statements are necessary for Go-Invest to carry out its due diligence report.
Burrowes also stated that some entities have not been carrying out their legal responsibilities in terms of registration of the company.
“I am keen on doing proper due diligence. Government needs to work along with us. We need to work together towards achieving the same targets. There is a need for there to be an improvement in the technical support capacity but we don’t have the resources and we are working with what we have.”
He added, “Given one year with the needed resources, I can assure that this agency would emerge as one of the most modernized in the region and it will contribute in a more direct manner to Guyana’s economic growth.”
Also commenting on the issue was A Partnership for National Unity’s (APNU) Joseph Harmon, the Shadow Minister of Public Works and Telecommunications.
Harmon said, “APNU welcomes the appointment of a Head of GO-Invest. 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.
“In very many cases interfering in the process resulting in the influence of decisions that were made on investments that were not to the benefit of the country. 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.” While expressing his sincerest condolence for the passing of the Chairman of the Private Sector Commission, Ronald Webster, Burrowes insisted that he has intentions of working along with the Commission but certain things must be changed.
“I will be meeting with President Donald Ramotar to discuss issues such as the modernization of Go-Invest and its expectations in relation to its partnering agencies.”
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