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Guyana has the potential to become the Singapore of the C’bean

Mar 28, 2015 Letters

DEAR EDITOR,
To say that the economy of Guyana is doing well is an understatement. The banking sector is expanding, with new branches opening in all regions of the country. The same is true of the business sector which is also expanding.
The most recent addition to this expanding business sector is the opening of a world-class Call Centre at Providence, East Bank Demerara, which according to media reports, when completed will be the largest in the world. This investment which is expected to create employment for some 6,000 Guyanese, when completed, must be seen not only as a landmark investment project, but also as a demonstration of confidence in the Guyana economy.
This investment comes on the heels of another big investment project, Giftland Mall at Turkeyen, which is expected to open its doors in April, mere days from now. This project is yet another expression of investor confidence and when fully operational would employ scores of Guyanese. Just recently Guyana’s President Donald Ramotar commissioned another project in Essequibo which will manufacture rice cereal.
These and the several other business enterprises that have recently come on board are at odds with a perception being created by the political opposition that the investment climate in Guyana is not conducive to the growth and expansion of the business sector.
On the contrary, the PPP/C administration has always recognized the importance of an investor-friendly climate which is necessary to attract foreign direct investment as well as local investment.
In this regard, the statements made by Mr. Kirk Laughlin, Nearshore Americas Founder and Managing Director are most reassuring when he identified Guyana as a special place for investors, especially those in the Business Outsourcing Industry.
According to Mr. Laughlin, “there is something very special here and this is what is really powerful about the business outsourcing industry in which people like me, outsiders like me, sometimes observe the specialness, the unique features that even people in that country don’t fully recognize.”
These are indeed words of encouragement which speak to the enormous potential we have to lift this country to higher levels of development and greatness.
Guyana has the potential to become the Singapore of the Caribbean, especially in the context of our vast natural and mineral resources and a growing cadre of skilled human capital. Regrettably, the modernization process envisaged by the current PPP/C administration suffered some significant setbacks by an unsupportive political opposition during the last parliament.
I take this opportunity to salute that great visionary Lee Kuan Yew who passed on recently after successfully transforming his once backward country to one of the emerging economic giants in the world.
Hydar Ally

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