Page 3 - News Letter 2018 1 Revised.cdr

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Working Group has been convened to advance key gas sector, adding that, a local content framework was
areas identied for action. Mr. Nokta, while integral to ensuring that local businesses benet from
commending some of the measures in the 2018 the opportunities offered by the sector. He also stated
National Budget which targeted the forestry and wood that the GMSA will continue its push for the Government
processing sector, indicated that key issues that are to properly dene its national economic vision and also,
critical to the manufacturing process and the overall to have a clear sense of how the manufacturing and
growth of the sector was still outstanding, principal services sector t into the thinking for the future.
among them the issue of Value Added Tax on electricity
as well as for locally manufactured items to be given a Chairman of the Private Sector Commission (PSC),
greater share in the public procurement process. Edward Boyer in brief remarks said the GMSA has been
. pivotal to local manufacturers and will become
The GMSA President also took the opportunity to increasingly important as the oil and gas sector
highlight some other key initiatives in the past year that develops. According to Mr. Boyer, “We are at an
have added to the GMSA's remarkable performance. important stage in our own manufacturing process
Among these, he said, was the Hosting of UncappeD – and we are being asked to quickly meet
the GMSA's signature Agro-processors expo, held in international standards. If we are to compete with
October 2017 and, which saw over 60 exhibitors from international companies, we have to do so. The
across Guyana showcase their products over a period of GMSA is there to provide the assistance and bring
three days. According to Nokta “This rst of its kind together the skills available to make such a
event certainly demonstrated that the GMSA can v e n t u r e a s u c c e s s f o r t h e G u y a n e s e
take on an activity of such scale and magnitude manufacturers.”
and the over 4000 visitors who attended can attest
to being awed by the range of products being Meanwhile, Minister of State, Joseph Harmon
produced locally and which many persons were commended the GMSA for it's work in the last year and
unaware of.” He noted that the principal objectives of called on the Private Sector to become an active partner
the event were to raise awareness as well as networking in the country's economic development. He told the
opportunities and has, therefore, expressed condence gathering that the objectives and principles embodied in
that it was achieved to a large extent. Mr. Nokta went on the Green State Development Strategy (GSDS)
to add that UncappeD has opened new opportunities for document is crucial to Guyana's transformation to a
support to the GMSA and the agro-processing sub- diversied and green economy. In this vein, the Minister
sectors, both at the level of Government and leading encouraged the GMSA to remain engaged and continue
private sector organizations. This initiative, he said, will to contribute to the development of the GSDS and the
continue with the UncappeD Market Place that will realization of the vision it proposes. According to
convene not only in Region 4, but other Regions across Minister Harmon, “The Strategy [GSDS] will set the
Guyana. foundation for inclusive, green, economic and
social growth, create the framework for achieving
Turning his attention to the several Business Luncheons the Sustainable Development Goals [SDGs] and
and Dinners by the organization over the year, the GMSA provide the basis for a prosperous and secure
President said these events have allowed its members future for all Guyanese.” He said the core principles of
and representatives of the private sector to be informed the GSDS is to seek to reorient and diversify the
on key areas of economic development. He indicated economy, to reduce the country's reliance on the
that the GMSA also played a key role in the planning and traditional sectors, and to create new sustainable
implementation of the Private Sector Commission's 2017 income and investment opportunities, through value-
Business Summit, which was a major initiative geared at added endeavours and high-growth sectors. The pursuit
bringing perspectives on business development and of this objective, the State Minister reiterated, is an
arriving at a Road Map of actions to stimulate economic innovative one, but it cannot be the sole responsibility of
growth and address key barriers to development. the Government, it must be the collective effort of every
citizen, including the GMSA.
On the issue of strategic positioning and the future of the
economy, Nokta also called on the Government to see Minister Harmon also suggested to the GMSA that it
the private sector as a partner in the emerging oil and becomes more innovative in utilising the techniques and

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