Latest update April 7th, 2026 12:30 AM
‘Adapt or be outpaced’ – GCCI tells local businesses amid rising Chinese competition
By: Davina Bagot
Kaieteur News – Amid growing anxiety from small and micro businesses that the surge of Chinese stores and workers is threatening their livelihoods, Georgetown Chamber of Commerce and Industry (GCCI) President, Kathy Smith, is urging local entrepreneurs to adapt rather than despair.
GCCI President, Kathy Smith
In an interview with Kaieteur News, the President of the largest private sector body in the country said she is aware of the concerns being raised by small shop owners in particular. She said, “I think maybe it’s a valid concern on their part.”
The GCCI President went on to note that the Minister of Tourism, Industry and Commerce, Susan Rodrigues have started to address these issues by identifying red tapes and providing guidance to cross such hurdles.
In addition, she pointed out that the government will be rolling out a Developmnet Bank with seed financing to assist locals in business development to assist in boosting confidence and ultimately aid in the competition process.
Meanwhile, over at the Chamber, the President noted that conversations are ongoing that are not focused on the problem, but rather, the solution.
To this end, she explained, “My encouragement to small business owners is that let us try and push our business to be robust and to be strong. We want them to turn up every day, doing business in a way to compete with anybody around them.”
She was keen to note that this means designing a framework to ensure sustainability, starting with a business account and chasing government bids.
Smith said the Chamber has not received any complaints regarding a takeover of business by the Chinese, Indians or other nationals.
According to her, “I think Guyana is seen as a place for investment and as a private sector, us being the engine of growth, we welcome any investment in our country once there are legal investment.”
She added that citizens are not merely Guyanese born but naturalised individuals who are also chasing business opportunities in the rapidly expanding economy.
“So as a private sector, we cannot just separate the way of doing business based on nationality. We looked at the entire ecosystem of business, and if it happens to be a foreign investor, somebody come from Trinidad, somebody come from New York, wherever they come from, and they’re doing business the right way, legal way, that is something that the private sector welcome because it’s created employment for Guyanese that is added towards the growth and development of this economy,” the GCCI President said.
Businesses and individuals alike have been complaining of being sidelined amid a high influx of Chinese nationals and businesses sprouting across the country.
Previously, the Guyanese Businesses Owners Association (GBOA), comprising 65 entities and individuals requested a meeting with President Irfaan Ali to address concerns regarding the proliferation of non-naturalised Chinese owned businesses, predominantly supermarkets and hardware stores, throughout communities in the country.
The Guyanese business owners were keen to note that while they recognise and embrace healthy competition for the benefit of consumers, their primary concern pertains to the perceived lack of adherence by Chinese businesses to the same laws and regulations governing Guyanese enterprises.
They argued, “Many of these Chinese stores fail to provide tax invoices automatically with purchases, and when requested, such invoices are begrudgingly provided. Additionally, they neglect to display TIN (Taxpayer Identification Number) on invoices, omit charging VAT (Value Added Tax) on applicable items, and abstain from listing product descriptions on invoices.”
GBOA in its April 22, 2024 missive also noted that there have been instances where consumers unknowingly purchased expired food items from these establishments, only to find no recourse for product support.
These flagrant breaches, according to the Business Association, raise questions about accountability and concerns about the oversight by relevant authorities. To this end, the businesses said they cannot help but speculate whether these non-naturalised Chinese businesses receive preferential treatment or special concessions.
Meanwhile, in May this year truck drivers turned to the street to protest over an alleged foreign takeover of the trucking and businesses in Guyana.
Drivers accused the police of turning a blind eye to infractions by the Chinese noting that local drivers are mandated to strictly follow the rules.
One protestor claimed too those tolls are only mandatory for ‘small men’ and local drivers, while foreign trucks and large companies are not subjected to these fees.
Meanwhile, another protestor argued that Chinese were benefitting from majority of government contracts while locals were only receiving part of a contract or none at all.
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.
Similar Articles
One thought on “‘Adapt or be outpaced’ – GCCI tells local businesses amid rising Chinese competition”
THE BLUNT OF THE DAY
Sports
Features/Columnists
Sir. Ronald Sanders
The GHK Lall Column
Weekend Cartoon
Unfair buisness protices by chinese operator must be discourage. In the USA , the president have put tarrifs.
What is the goverment of guyana waiting for?