Latest update January 13th, 2025 3:10 AM
Latest News
- Oil deal requires Govt. to formally write Exxon to request renegotiation – Dr. Adams
- Govt. eyeing another US$1.5B loan from US EXIM Bank
- Israeli siege of north Gaza leaves 5,000 dead, missing after 100 days
- More traffic cops using bodycams after Hicken’s warning
- Second terminal for CJIA on govt’s 2025 agenda
Govt. should leave business to private sector- GTT, CEO
Chief Executive Officer of Guyana Telephone Telegraph (GTT), Justin Nedd says that it will be best for Guyana if government leaves “private sector activities to the private sector.”
CEO of GTT, Justin Nedd
Nedd said this as he spoke at a recent conference held under the theme, “The Transformational economy: Perspectives and Opportunities for Guyana’s Private Sector.”
Nedd said that while oil will bring good economic benefits to Guyana, government must not undervalue the role of ICT.
He observed that ICT plays a pivotal role in the development of the economy. “When oil gets here, ICT will be here, when oil starts to decline, ICT will continue to be here. It is not for us to turn to oil and forget the leverage that ICT bring to the growing economy.”
Nedd said that GTT is committed to continuing the development of the ICT sector.
He said however that it is useful for “us” to identify what is needed in order to develop the ICT sector and bridge its digital divide “so that we can bring more broadband internet to as many residents of Guyana as possible.”
Among the things needed is a regulatory framework to govern the sector that falls into government policy.
Further, Nedd said, “government should leave private sector activities to the private sector. Many times government thinks this is a business that I can get into and do better than the private sector. Most times it does not turn out quite so.”
Nedd said that Guyana is most likely not to be the exception.
Further, Nedd said that there should be a level playing field. “We are all for the competition and we are in favor of liberalizing the telecommunication sector. We are having talks but what we are asking for is a level playing field.”
Nedd also said that government should have a taxation policy that really encourages investment “because if the government tries to raise money by raising taxes, I think this is a really destructive endeavor because it will just stymie private sector investment because businesses have a profit incentive.”
Nedd said that GTT is very optimistic “with the progress we are making with Minister (Cathy) Hughes and government in general.”
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Social media reporting is a double-edged sword
Peeping Tom… Kaieteur News- Social media has undoubtedly changed how we share and receive information. It has made... more
Clarifying misconceptions about the Panama Canal
Sir Ronald Sanders (Antigua and Barbuda’s Ambassador to the US and the OAS) By Sir Ronald Sanders Kaieteur News–... more
Weekend Cartoon
