Almost 40% increase in business grants distributed in 2022 − Min. Walrond

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Minister of Tourism, Industry and Commerce, Oneidge Walrond on Tuesday reaffirmed the PPP/C Government’s commitment to providing opportunities for entrepreneurs to flourish and disposable income to increase.

With some $300 million allocated for further disbursement of grants in 2023, the minister said the government is focused on sustainably developing the lives of all Guyanese.

Minister of Tourism, Industry and Commerce, Oneidge Walrond during the 2023 budget debates in the National Assembly

“We are committed to spending that improves lives today and builds prosperity for tomorrow…to manage that spending in a way…to grow at a pace at which we can sustain,” she highlighted.

In 2022, a total of 1,429 small business grants were given to people across the country to advance their businesses.

This represents about 40 per cent increase in the distribution of grants in 2022 compared to the entire five-year period of the APNU+AFC Administration, which distributed some 560 grants in total.

Referencing the Inter-American Development Bank (IDB), Minister Walrond highlighted that international organisations have commended the administration for its interventions to address the global rise in cost of living.

Further, the tourism minister pointed to the success of the Cricket Carnival event, which she said government will continue to build on over the next few years.

“The event will return this year and next year in keeping with our plans to attract major events and conferences to Guyana with their spillover effects on our service economy,” Minister Walrond explained, adding that “Our visitor arrival rates for 2022 exceeded 291,000, a 94 per cent increase over 2021. This performance exceeds the global recovery rate of 65 per cent and the regional average of 81 per cent.”

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