Govt, private sector cement relationship with signing of symbolic MoU

The Guyana Office for Investment (Go-Invest) and the Private Sector Commission on Friday signed a symbolic Memorandum of Understanding (MoU) which puts forward a framework for partnership between the government and the private sector.

The MoU was signed by Chief Executive Office of Go-Invest Dr. Peter Ramsaroop and Chairman of the Private Sector Commission Nicholas Boyer at Go – Invest’s Camp Street Office.

Ramsaroop said Go-Invest operates with direct instructions from the Office of the President to push both local and foreign investment in Guyana.

He said the intent of the MoU is to allow the government, in executing its own agenda, to work closely with local entities to promote investment.

Dr. Ramsaroop said through the MoU, private sector entities stand to benefit from a range of incentives.

They will also benefit from collaboration with international and foreign investors, the promotion of joint ventures and different activities.

“I am glad the PSC and its Chairman have decided to work with GO-Invest in signing this agreement and we look forward to closer relations between the government and private sector,” he said during brief remarks.

Meanwhile, Boyer thanked the Go-Invest CEO for the opportunity to be part of the symbolic action in cementing the relationship.

“We had a relationship before but this here represents the next step and the deepening of ties between the two bodies… what is ahead for Guyana is significant and the private sector needs to work on developing itself and what better agency than Go -Invest,” he added.

Boyer said the PSC expects a number of international companies to soon be expressing interest in the local markets while at the same time locals will have the opportunity to reinvest in Guyana and expand.

As such, the PSC welcomes the agreement and is ready to work to build the local private sector.

“I’m very excited about this symbolic action… it sends the signal that we are ready to do business together.

He said this allows for access to new markets.