See below full statement from the Georgetown Chamber of Commerce and Industry (GCCI):
The second Regional Investments and Capital Markets Conference in Guyana came to a close on Wednesday, October 9, and among the information shared was an announcement by the Georgetown Chamber of Commerce and Industry (GCCI) that it is collaborating with the Jamaica Stock Exchange on the development of a Junior Stock Exchange in Guyana.
President of the GCCI, Kester Hutson participated in a panel discussion on ‘the Private Sector’s role in promoting sustainable wealth creation and prosperity’ during which he made the announcement.
“Smes (Small and Medium-sized Enterprises) need to have access to capital so we are moving forward with that. The Chamber is excited about it, we need to expose our members to these opportunities. Jamaica Stock Exchange as a model that works,” Huston said.
He also highlighted the work that the Chamber has undertaken in trade facilitation, including inbound and outbound trade missions, and increasing members’ capacity in the area of trade and investment.
“The Chamber continues to really expose, engage and edify our members through these strategic programmes,” he emphasised.
Meanwhile, Councillor and Executive Member of the GCCI, Richard Rambarran—in his capacity as Country Manager of NCB Capital Markets Incorporated (Guyana and Suriname), spoke in-depth on the role of broker-dealers and their role in capital markets.
In the Guyana context, he acknowledged the challenges with access to finance and financial institutions.
Speaking to some of the current issues in this regard, he said, “We need to ask different questions. How can we begin to change the architecture so that we can have institutions in place that can begin to channel the types of monies that are required into the types of projects that are happening here in Guyana?’’
These remarks came on the heels of comments by Senior Minister of Government with responsibility for Finance, Dr. Ashni Singh who opened the day’s proceedings by assuring attendees that Guyana has the necessary experience in building the institutions that are necessary for good governance, and sound and responsible economic management.
“We have done a lot of heavy lifting for a very long time and we didn’t get here by accident. Guyana today is likely, possibly one of the most attractive places to do business in the world,” Dr Singh reiterated.
