The Guyana Office for Investment (GO-Invest) and the Private Sector Commission (PSC) yesterday signed a Memorandum of Understanding (MoU) to promote the country’s investment opportunities for both local and foreign investors.
The MoU was signed yesterday morning at GO-Invest’s Camp and Church Streets, Georgetown office.
The purpose of the agreement is to provide a framework for cooperation between the two agencies in order to facilitate the development of local content, joint ventures between local and foreign investors, joint promotional activities related to investments and joint conferences.
Chief Executive Officer (CEO) of GO-Invest Peter Ramsaroop, during his brief remarks, said that one of the agency’s missions this year is to work closely with local entities to promote investment.
“…We have discussed and partnered with the private sector to ensure that our local companies know about what incentives government can give to the private sector, how we can bring them together with the international foreign direct investors coming in, how we can promote joint ventures and how we can promote different activities within the private sector,” Ramsaroop said.
Meanwhile, PSC Chairman Nicholas Deygoo-Boyer described the signing of the agreement as a “symbolic” action taken to “cement” the existing relationship between the two agencies.
“The Private Sector Commission and Go-Invest has had a relationship before but what this represents is the next step in our relationship and a deepening of ties between our two bodies,” Deygoo-Boyer said.
He explained that the future of Guyana is “significant” and therefore there is a need for the PSC to develop itself. “…What better agency to work through than GO-Invest,” he stated.
Deygoo-Boyer added that a number of international companies are expected to be interested in the local market. “…And similarly we also expect a lot of local private sector companies wanting to re-invest into Guyana and to expand and as such we are ready to work with GO-Invest to do the things necessary to build that local private sector whether it be joint ventures or deepening of existing market, new access to new markets, these are the things we are going to work on together,” he explained.
