Private Sector Commission expresses concern over the lack of investor confidence in Guyana – 22nd Mar 2013
Chairman Ronald Webster said the current political climate is not sending a positive message to prospective investors. He said at a time when the global economy is still recovering from the 2008 economic crisis, Foreign Direct Investments are becoming competitive to attract.
According to Webster, trade and investment are the principal drivers of Guyana’s economic expansion. He said while the commission is working to sell Guyana as the choice destination for investment in agriculture, agro-processing, Energy, Manufacturing, Mining, Tourism and Seafood, the political leaders should also play a constructive part.
The PSC Chairman said Guyana had recorded positive growth during the economic crisis, and based on current projections, the economy will continue to expand. But while welcoming the expansion, Webster is of the view that it is time for Guyana to move away from traditional sectors.
Webster is also urging investors to explore opportunities in the Information, Communication & Technology (ICT) sector. He said this can soon develop into a lucrative industry.