Business Ministry looks to create electronic window for trade

Oct 03, 2017 News

…to reduce cost of doing business locally

Minister of Business, Dominic Gaskin

Many foreign companies with oil and gas experience are showing an interest in doing business in Guyana and are making moves to strengthen their presence, said Minister of Business, Dominic Gaskin.
Cognizant of this fact, the Ministry of Business is looking to implement a series of projects aimed at reducing the hassle of doing business in Guyana.
Gaskin, at a recently concluded conference hosted by the Caribbean-Central American Action (CCAA), zeroed in on some of the initiatives being undertaken by his Ministry. The Conference was held under the theme, “The Transformational Economy: Perspectives and Opportunities for Guyana’s Private Sector.”
Gaskin said that many companies are looking to set up shop here in anticipation of first oil and the new opportunities it will create.
According to Gaskin, his Ministry has, for the last two years, been engaged in the slow reform of the business environment in a number of areas.
He said that the creation of a single electronic window for trade facilitation is an initiative that his Ministry is “attempting” to bring to reality in Guyana.
“We feel that this is imperative in order to create a clean and efficient bureaucracy that will make it less costly to do business in Guyana and increase certainty and investor confidence.”
Gaskin said that the single window system will allow businesses to make online applications to various Government agencies for licences or permits, or to conduct other business related transactions online.
“It won’t be business as usual and in a rapidly growing economy, there will be need for better and more efficient regulation of key industries, and greater attention paid to standards and quality,” said Gaskin.
The Minister continued, “This must be part of the new normal that we embrace, and our Government will fast track its efforts to create an enabling environment for doing business in Guyana and also to promote the development and use of standards in order to improve quality and consistency in local products and services.”
Gaskin also spoke about another project being undertaken by his Ministry to improve business in Guyana.
The Minister said that the project has just begun and is referred to as the “Enhancing the National Quality Infrastructure for Economic Diversification and Trade Promotion” project.
Gaskin said that the project is designed to improve the Ministry’s capacity to carry out testing and certifying activities by upgrading its entire national network of laboratories.
“As its name implies, it seeks to promote economic diversification by supporting the use of standards in our export industries, and providing supporting testing facilities that are internationally accredited so that our products and services can meet the requirements of the international market place,” said Gaskin.
Gaskin dubbed the project as being of critical importance simply because it is geared to support value-added production and export diversification which the ministry is seeking to promote through a sector by sector approach. This is to be done in collaboration with the private sector and industry stakeholders.
Further, Gaskin said that the project will help to build the capacity of local businesses to meet the requirements of the oil and gas sector in areas where opportunities exist but strict standards are in place.
Gaskin added that in order for Guyanese to benefit from local content “we have to ensure that there is local capacity to deliver what is required. We will be increasing the number of small businesses that will receive training, and we will be ensuring that small businesses have better access to public procurement and finance.”

(Abena Rockcliffe-Campbell)