Chinese businesses “eager to continue contributing to economy”

Jun 05, 2015 News

– want to know new Govt.’s stance on trade, investments
One week after a scheduled meeting with the Government was postponed, the Chinese business community is still hopeful for the engagement to take place.

Guyana-China Business Council members and other officials at the meeting yesterday.

Yesterday, some 16 companies participated in a meeting of the Guyana-China Business Council (GCBC), saying afterwards that they are “eager to continue playing an integral role in creating jobs and contributing to the Guyanese economy”.
Following the recent general elections, Chinese businesses were said to be anxious about the reception by the new Government under President David Granger.
The previous Opposition, now in Government, had signaled intended reviews of a number contracts and concessions granted by prior administrations under the People’s Progressive Party/Civic.
One particular logging and mining company, BaiShanLin, reportedly received significant concessions for vehicles, tax breaks and a host of other benefits.
In recent years, Chinese businesses have been springing up countrywide, gaining significant inroads in trade. The landscape around central Georgetown has especially changed in this regard.
According to a statement from the GCBC, which is chaired by Clinton Williams, a founder member, the meeting yesterday was a precursor to the impending engagement with President Granger.
In addition to the 16 companies present, there were also representatives from the Chinese Embassy and the Chinese Association.
“Of interest to the companies represented at the meeting was the need to engage the new administration on its policies towards investment and trade with China. Companies also expressed several concerns including those related to security, immigration, taxation, dumping, internet fraud and substandard imported products.”
According to the council, while acknowledging some of the challenges that exist, the general consensus was one of “optimism” that the relationship can be strengthened to the mutual benefit of investors and the people of Guyana.
Williams, GCBC said, indicated that steps would be taken to establish a security mechanism with the hierarchy of the Guyana Police Force in order to address the security concerns of the Chinese entrepreneurs and businesses.
“The introduction and implementation of a continuous education campaign to inform Chinese businesses and contractors of their responsibilities with respect to Guyana’s laws and regulations as regards to environmental management issues and regulations, taxation laws and statutory requirements, employment practices and labour laws of Guyana will also be pursued.”
The council had announced it was preparing for a meeting last week with Government officials, but the scheduled forum at the Arthur Chung Conference Center, Liliendaal, was postponed.
GCBC, which was established in 2006, represents the interest of both Chinese and Guyanese entrepreneurs and investors.