President Bharrat Jagdeo this morning called on the private sector to be more transparent in conducting its affairs saying that this is key to making business pursuits here more competitive.
“We have been trying to encourage more companies going public because public companies have to be more transparent in the conduct of their affairs,” Jagdeo said while addressing the Opening Ceremony of the National Competitiveness Summit. “But we have not been able to see major changes in this direction and even some of the public companies we have manage their affairs like private companies,” he lamented.
According to Jagdeo, “in a modern environment this cannot continue”. “It is not just good governance in government, which is essential, but good corporate governance is important to lend confidence to the overall system,” he said. “It sends a strong signal to the rest of the world that we are responsible and that we are prepared to manage our affairs in both public and private life transparently,” he added.
The theme of the Summit is “Partnering to Promote Economic Growth and Development” and is being held at the International Conference Centre.
