GMSA ENGAGES WITH GOINVEST
- pushes for improved access to incentives for local manufacturers and services sector
Members of the Guyana Manufacturing and Services Association (GMSA) on Wednesday, September 13, 2017 met with representatives of the Guyana Office for Investment (GOINVEST) at the GMSA’s Water Loo Street, Georgetown office.
The meeting, which was a follow up to the first in a series of Ministerial Roundtable Discussions between the Government and GMSA, saw a wide cross-section of GMSA members participating in an interactive session following a presentation from GOINVEST CEO, Mr. Owen Verwey.
Mr. Verwey provided an update on GOINVEST activities and how investors, both local and foreign can access the services offered by the organization. He alluded to the importance of the manufacturing sector as one of the engines of growth for economies around the world and Guyana being no different and underlined GOINVEST support to the sector. Specific mention was made of support to agriculture and agro-processing, mining, the forestry and wood sector, tourism, and ICT.
During a frank exchange, several issues were discussed including the facilitating role GOINVEST is playing and expected to play in supporting investments, local manufacturing businesses being able to access fiscal incentives in a timely manner, furthering the export marketing drive, assistance in moving towards value-added production, supporting cost effective transportation and logistical linkages with the market place, and access to information on the facilities and incentives being offered to the manufacturing and services sectors.
According to President of the GMSA, Mr. Shyam Nokta, “the GMSA, as a business support organization, sees it role as helping to support its members having access to the services and incentives being offered for the manufacturing and services sector as this is critical to encourage and support businesses, especially local manufacturers and service providers.” He indicated that “as we prepare ourselves for the imminent oil and gas sector, and considering the importance of local content and facilitating local businesses playing a role in this sector, it is important that the enabling environment be there to support businesses, especially those in the services sector to grow and enhance their capacity.”
The GMSA indicated its interest in continuing the engagements with GOINVEST with consideration of a sector focus basis with the intention of addressing specific issues.