Single window for trade will be going live shortly - Min. Walrond

Single window for trade will be going live shortly – Min. Walrond

Mar 22, 2024 News

Minister with responsibility for Tourism, Industry and Commerce, Oneidge Walrond.

Kaieteur News – Minister of Tourism, Industry and Commerce, Oneidge Walrond announced that the single window for trade will soon go live, promising investors increased certainty and transparency.

The minister made the announcement on Tuesday while addressing the Business 2 Business Meeting held at Herdmanston Lodge, Georgetown. The single window system allows parties involved in trade and transport to lodge standardised information and documents with a single-entry point to fulfil all import, export, and transit-related regulatory requirements. With an investment of $600 million by the government, this innovative system aims to foster entrepreneurship in Guyana, catering particularly to the needs of local and foreign businesses, including small and medium enterprises (SMEs).

SMEs will be able to benefit from increased processing efficiency, streamlined workflows and significant savings. In addition, the system focuses on enhancing a business’s ability to supply competitive goods and services produced locally. Both local and foreign enterprises will be also able to connect and network with other traders including exporters and importer.

Semi-autonomous agencies such as the Guyana Revenue Authority (GRA) will reap the benefits of improved staff productivity, structure and controlled working environment. The system will apply UNCTAD Automated System for Customs Data (ASYCUDA), an integrated customs management system for international trade and transport operations currently being implemented at GRA. Similarly, the government will be able to more accurately tax fiscal returns, distribute resources more effectively and efficiently and advance risk management techniques to establish accountability amongst participating agencies and the private sector.

Moreover, Minister Walrond revealed that a single window initiative will be implemented to diversify the ministry’s permit system as she underscored the important role digitalisation plays in transforming and modernising the tourism sector. She indicated that the permit system will significantly reduce processing time from two to three years to about six to eight weeks. The ministry in collaboration with the Central Housing and Planning Authority (CHPA) will be undertaking the modernisation of institutional and legislative infrastructure to facilitate the single window system for building and construction permits. (DPI)

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Georgetown, Herdmanston Lodge, Industry and Commerce, Minister of Tourism, Oneidge Walrond

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