Chairman Emeritus of the ANSA McAL Group of Companies, Dr Anthony N Sabga says this country has a “sleeping giant” in the Diaspora as far as business and economic possibilities go, but he stressed that incentives and tax relief need to be strengthened as part of the encouragement package for people to return.
Dr. Sabga said that he has seen Guyanese in the United Kingdom, Canada and the United States who could be encouraged to return home and invest provided there is a “safe and welcoming environment”. He posited that Guyana could reach its full potential if persons in the Diaspora with the expertise return home and contribute to this country’s development.
Dr. Sabga focused on Guyana’s potential and where “you could be” when he delivered the feature address at the Georgetown Chamber of Commerce and Industry annual awards dinner last night at the Pegasus Hotel. The potential for investment is tremendous, he said, emphasizing that the climate needs to be welcoming.
The aim is to draw Guyanese with the expertise back home, but also potential investors with ideas who will support growth here, Dr. Sabga told the gathering. He noted that there are Guyanese living abroad for some 20-25 years who could be encouraged to relocate with their families.
As he spoke, many listened with rapt attention, particularly when the focus shifted to the Diaspora. Dr. Sabga is a Caribbean entrepreneur who founded the regional corporate giant, ANSA McAL. At age 87, he speaks clearly and in a sharp tone; he punctuated his speech last night with a few jokes.
“There are thousands of Guyanese who are abroad and with your abundance of natural resources there is huge potential for development here…you have already shown that you have the ability to make things happen”, he said.
He continued that what is required is leadership in economic and social sectors to effectively and directly manage resources.
He pointed to his native Trinidad and Tobago saying that government fully supported the private sector when its focus had to turn to manufacturing, noting that the right incentives were offered and the climate was made encouraging with the passage of critical legislation.
Still on Trinidad, he said there is potential for business here to tap into joint partnerships with companies on the twin island. “There is an opening here”, he said, noting that Guyana has already started on its journey of regional global interactions, but that this needs to be explored with more intensity.
Dr. Sabga stressed the words, “growth” and “natural resources” in his brief presentation saying that Guyana could easily learn from other countries and their examples; he cited Singapore and how much that country has progressed over the years.
He said too that there is tremendous potential here for Caricom with respect to Guyana’s natural resources, adding that “this needs to be pursued”.
Dr. Sabga used the opportunity to briefly narrate his own story of pursuing an idea and working for years on building his own company. He said his example is testimony that “it can be done”.
