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|Public/Private partnership greatest catalyst for economic development : - Minister Ali|
|Friday, 28 September 2012 23:54|
ACTING Minister of Tourism, Industry and Commerce, Mr. Irfaan Ali said, at the Thursday evening opening of GuyExpo 2012, that public/private partnership has proven to be the greatest catalyst for economic development, growth and expansion in Guyana.
“The policy direction of the government to work hand in hand with the Private Sector through public/private partnership is an excellent move to ensure the major initiatives that speak to the transformation of our country, are implemented in a timely manner,” he explained.
Ali pointed out, however, that the government has an important role in ensuring that the policy framework is designed so as to stimulate the growth and expansion of the Private Sector.
He said every single one of the developed and developing economies in today’s global economic environment has achieved through public/private partnership and the Private Sector must be the bedrock on which economic advancement is made in Guyana.
“There was a time when the hope of energising our own economy, of energising the entrepreneurial ability of our own people was almost non-existent. But today, because of the strides we have made, I think Guyana provides the excellent platform through which our Private Sector can grow and investment can flow to this country,” Ali stated
He added that the local Private Sector must see itself today as a primary mobiliser of capital.
“You must be transparent and open enough both in the government and private sector to allow public scrutiny and trading. That is the only way we’re going to expand this private sector and that is the only way we’re going to mobilise capital to undertake the massive projects that have tremendous potential for our country,” the minister maintained.
He announced that, very shortly, there will be a Credit Bureau and a Financial Intelligence Unit, all of whch are various policy bodies that are tasked with creating a business environment that would ensure greater transparency, greater accountability and more openness in the way business is done.
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