Guyana on its way to realising full potential…
-Private Sector more equipped to become engine of economic growth-Minister Prashad

Government/Private Sector collaboration has over the year’s been fruitful as several policy initiative have been successfully formulised with the aim of increasing national competitiveness while promoting economic growth.
The National Competitiveness Summit 2011 which is being held under the theme, “Partnering to promote economic growth and development,” today kicked off attracting scores of private sector bodies and Government officials.
The event which was held at the Guyana International Conference Centre (GICC), saw several priority areas for development being discussed including trade strategy, infrastructure to promote competitiveness, agro-processing, forestry, development, export promotion zones, manufacturing technology, alternate energy and small business development.
Minister of Tourism, Industry and Commerce Manniram Prashad in delivering the opening remarks, said that the summit which is a structured public/private sector partnership seeks to build a competitive advantage for Guyana.
Since the successful host of the 2010 summit, institutional arrangements were put in place to support ongoing formulation and implementation of the National Competitiveness Strategy through the establishment of a National Competitiveness Council and Strategy Unit.
“The evaluation of the impact of the thematic areas should be undertaken in tamdem with the foundation of the National Competitiveness Strategy which was built for realising the eight growth areas identified,” he said.
Among the many growth sub-sector areas identified under the National Competitiveness Strategy include;- agriculture and agro-processing, sea food and aquaculture, forest products, information technology and tourism.
A Memorandum of Understanding (MOU), was also inked between the Guyana Government and the Private Sector for the creation of the 12-membert National Competitiveness Council.
“We are happy to report that Five-years later, not only do we continue to have private sector involvement at the highest level of the NCC, but many of the public/private sub-committees that were formed to take charge of implementation of specific group of actions which are also chaired by the private sector,” Minister Prashad highlighted.
Minister Prashad while stating that Government and the Private Sector can today confidently deliberate on partnering to promote economic growth and development in the economy, said that an evaluation report was also implemented by independent experts who described the results as ‘impressive’.
“For an economy to grow and to be competitive the correct enabling environment must first be created. It is with this vision in mind that the Government of Guyana developed the NCS as a roadmap to achieving sustainable economic growth,” he said.

Over the years, Government has been embarking on bold steps to promote an environment that supports competitiveness to further enhancing growth and development.
Legislative and other reforms have also been embarked upon while investment in human resources continues to escalate.
President of FITUG, Carvil Duncan who spoke on the development of human resource in a globally competitive environment, said that as the economy advances there must be a balance for everyone in society to benefit, especially the working class.
Duncan also called on members of the private sector to adjust their requirements so as to ensure that employers are more comfortable in the working environment.
“Today, modern society and in the midst of a complex environment, the world economy and the markets are quickly developing. In analysing these competitive factors it is the basis from which everything begins and on which everything depends on human resource,” he said.
Ramesh Dookhoo Chairman of the Private Sector Commission said that while there must be a total diversification of existing sectors, developing countries continue to be challenge in the globalised economy, due to increasing of technological changes.
While speaking on the many initiatives implemented to boost business development, Dookhoo said that a small business development act was also passed to better facilitate the private sector and farmers making research more relevant; corporate taxes were reduced; trade opportunities expanded and infrastructure created to facilitate trade.
“In 2010/11, Guyana ranked at 110 and it is expected that with the competitiveness policy implemented the country’s ranking will continue to increase. So for my friends in the private sector who deemed this meeting as political you are dead wrong, these meetings have been taking place since 1994,” he said.
While noting that the private sector has now been given an opportunity to enhance government policy, he urged the members to use the opportunity constructively to ensure that meaningful contribution is made.
The National Competitiveness Strategy which was launched in May 2006 at the Presidential Summit on Private Sector Development, following an extensive collaboration partnership between the Government and the Private Sector, acts as a central point for policy leadership to ensure ongoing strategy development and implementation.