In a bid to arm possible investors with pertinent information about the business sector and important companies, a local business directory was launched on Thursday evening by the head of ActionINVEST Caribbean Inc, Vishnu Doerga.
The Who’s Who in Guyana Business directory and its accompanying website (whoswho.gy) were launched at the residence of United Kingdom High Commissioner Greg Quinn, where Doerga said there has never been a more important time to provide critical information on the Guyanese economy and the various companies serving the country.
Doerga noted that the directory features key insights from various industry leaders in the country, economic reviews that have been done both locally and internationally, and information on the benefits of investing.
Chairman of the Guyana Office for Investment (GO-Invest) Patricia Bacchus delivered the feature address, in which she said that it is a profoundly exciting time in Guyana as there is economic development and diversification.
“Over the last few years, we have witnessed an increase in Guyana in the investment interest, that is both foreign and local, …tied of course to the emerging oil and gas sector and related activities. But even outside of the sphere of oil and gas, Guyana is well positioned as an investment destination,” Bacchus noted, while pointing out that over the last decade the country has recorded a positive annual Gross Domestic Product (GDP) performance, in spite of volatile and depressed regional and international economic conditions.
“Being the only English-speaking country in South America equipped with a young, trainable and English-speaking workforce, a country with abundance of land for development, with vital natural resources such as fresh water and precious minerals, a country largely insulated from natural disasters that affect other countries in the region, it was only a matter of time before this potential fully materialised into rewarding economic development,” she added, while stating that the developments so far, including the launch of the directory, are part of the remarkable strides that are being made in the direction of economic development and diversification.
Bacchus explained that given the fact that the country’s economy is young means that there are a plethora of opportunities in a multitude of sectors, many of which are significantly underdeveloped, which provides a unique opportunity for the development of value chains in a way that is cognisant of the international best practices.
“In light of our trajectory as a country, it is very inspiring to witness young entrepreneurial spirits, not only in terms of foreign direct investments coming in but also in terms of the expansion and repositioning of local businesses to monopolise on the number of opportunities as they arrive. Of course, of equal significance are the development of systems and tools and the strengthening of institutions to ensure that such entrepreneurial spirit is facilitated. The Who’s Who in Guyana Business directory is one example of the development of tools to aid in the navigation of the business landscape,” she added.