Business Guyana 2018 by GxMedia

BUSINESS

G U YA N A AN INVESTORS GUIDE TO DOING BUSINESS IN GUYANA

G U YA N A O N T H E R I S E

CONTENTS Introduction 1 | Message from the President of 2 3 4

Cooperative Republic of Guyana | Message from the President of the Georgetown Chamber of Commerce & Industry | Message from the Minister of Business | Editorial

Guyana: What you need to know 5 | Fast Facts of Guyana 6 | Investors Roadmap:

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Steps to doing Business in Guyana

Investment 7 | Ram & McRae Investment Supplement 8 | Guyana: Open of Business – Go Invest

Private Sector Development 9 | Scope for Public-Private Partnership 10 11 12 13

– Deodat Indar & Richard Rambarran | Unleashing Competitiveness: An Enable Environment for Private Sector Development in Guyana – Private Sector Commission | A Vision for LNG in Guyana – John Thompson | Movietowne: The Magic is Arriving | Guyana Carnival: Q&A with Kerwin Bollers, Hits & Jams Entertainment

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CONTENTS CONTENTS Entrepreneurship, Academia & Guyana’s Development 14 | An Overview of Micros & SMEs:

A focus on development in Guyana – Dr. Nazim Baluch 15 | Importance of the SEBI to the Business Community – Prof. Leyland Lucas

Q&A from CEOs

16 | Q&A with Dr. Rosh Khan – Young Business

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Executive Awardee of 2017 17 | Q&A with Komal Samaroo – Chairman of DDL and 2018 National Awardee

Trade, Regional Features & Foreign Relations 18 | Trade Facilitation, Partnerships & Joint

Ventures – Timothy Tucker & Richard Rambarran 19 | The Apiary Industry – Regionally recognized work by the GCCI »» p. 60

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Contacts & Useful Information 20 21 22 23 24

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Introduction

INTRODUCTION

Message FROM His Excellency Brigadier David Granger President of the Cooperative Republic of Guyana Guyana on the Rise

emerging oil and gas industry is being carefully and prudently nurtured to ensure best practices and to guarantee broad-based development. Guyana is becoming a magnet for increased investment and trade. The business environment is being improved. New markets are being sought for our goods and services. National competitiveness is being enhanced through tax reforms and the increased connectivity of our digital and physical infrastructure. Guyana, indeed, is on the rise. A rising tide lifts all boats. The creation of capital towns is intended to drive the development of economically stronger regions with untold business opportunities. The prospects for development are bright!

he theme of this year’s edition of the Business Guyana Magazine – “Guyana on the Rise” – reflects this country’s development trajectory as it prepares for transformative economic change. Guyana’s business environment has been enhanced by sound macroeconomic policies, the protection of investment, the moderation of inflation and the maintenance of exchange and interest rate stability. His Excellency President David A. Granger Guyana’s ‘green’ development agenda will balance the growth President of the Cooperative Republic of Guyana of the natural resource sector with environmental protection. The

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EDITOR: Richard Rambarran EDITORIAL CONTRIBUTIONS: Guyana Office for Investment Deodat Indar Richard Rambarran John Thompson Movietowne Private Sector Commission Nazim Baluch Caribbean Development Bank Leyland Lucas Timothy Tucker PHOTOGRAPHY: Phillip Williams DESIGN: SHAWS MEDIA 152 BARR STREET, KITTY, GEORGETOWN 592-628-2647 SHAWSGY@GMAIL.COM

Business Guyana is an annual publication of the Georgetown Chamber of Commerce & Industry 156 Waterloo Street, Georgetown, Guyana SA. Tel: +592 225-5846 or 227-6441 Email: gccicommerce2009@gmail.com Website: www.gcci.gy All information in this publication has been carefully collected and prepared, but it still remains subject to change and correction. Use these contents for general guidance only and seek extra assistance from a professional advisor with regard to any specific matters. Copyright reserved. None of the contents in this publication can be reproduced or copied in any form without the permission in writing from the publisher. These articles do not constitute tax or legal advice, and no action should be taken based on the information in these documents without first consulting suitable tax or legal advisers. No liability for actions taken, or in action, based on the information in these articles, will be accepted.

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INTRODUCTION

Message from the President of the Georgetown Chamber of Commerce & Industry

t is once again an honour for me to provide remarks as the President of the Georgetown Chamber of Commerce & Industry (GCCI). Now in its 129th year, having been established since 1889, the GCCI continues to remain vibrant, vigorous and unrelenting in its pursuit of private sector development and the facilitation of trade and investment in Guyana. This magazine represents one such instrument. Now in its ninth edition, the Business Guyana Magazine remains the premier investment guide to doing business here in Guyana – this edition is certainly expected to continue to carry that mantle. Whilst in the last edition the main focus was to highlight some of the challenges before us in the investment sphere, this edition has seen us engendering more than the challenges. We have sought to capture new perspective on key issues, capture the framework for trade and investment, understand the critical developments and issues in the private sector amongst many other insights not captured elsewhere in a coherent, publicly consumable format as this. As the last edition sought to describe the promise of oil, the concomitant opportunities and an industry-specific focus, this year, we articulate investment in a broader context with the theme ‘Guyana on the Rise.’ Guyana’s economy has projected growth rate of 3.4% for 2018. The economy and investment climate possesses one of the most important characteristics in making an investment decision. It would be remiss of me to not mention that, in 2017, Forbes Magazine reported that ‘’the recent finds in Guyana pale in comparison to the reserves in neighboring Venezuela, a country which holds the largest reserves of oil in the world, at almost 300 billion barrels in 12

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conventional oil. However, Guyana does not suffer from the same political risks as Venezuela.’’ The absence of these not so uncommon political risks, compounded by a stable macroeconomic environment, makes Guyana one of the perfect investment destinations in the world at this time. It is my hope that the content of this magazine demonstrates why Guyana is truly on the rise and why it is fast becoming a hotspot for international investors. I also hope that other questions which you have on Guyana can be answered here or you may at least be pointed to the direction of your answer. I would like to express my gratitude to everyone who has labored and brought this edition of the Business Guyana Magazine to fruition; especially the advertisers, the contributors, the publishers, the secretariat of the GCCI, and in particular the dynamic Executive Director Mr. Richard Rambarran who tripled up on responsibility for this magazine, acting as coordinator, editor and contributor. To the membership of the GCCI, I would also like to recognize and thank you, as your contributions to the Chamber which act as the lifeblood of our organization we continue to make our Chamber as strong as it has ever been building on the foundations that was left by past Chamber leaders . In closing, I look forward to hearing your comments and feedback at gccicommerce2009@gmail.com and I trust that you enjoy this magazine as much as I did. Deodat Indar President, Georgetown Chamber of Commerce & Industry.

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INTRODUCTION

Message from the Minister of Business HONOURABLE DOMINIC GASKIN

t is my privilege, as Minister of Business, to welcome readers, to this ninth annual edition of the Business Guyana magazine which promotes Guyana as an attractive destination for trade and investment, and serves as a guide to doing business in Guyana. Our small but resource-rich country has managed to excite the world in recent years with a number of high-value offshore oil discoveries, and is on the cusp of a new economic era. With a population of less than 800,000 Guyana is uniquely positioned to harness its vast natural resources to significantly raise the living standards of its entire population. The role of the private sector will be critical in achieving this outcome which will depend on jobs and opportunities from new and expanding businesses. Guyana’s economy has grown consistently over the last decade amid political stability and favourable terms of trade, making it a safe and secure place for investors. Our government welcomes and prioritizes investments in the value-added, agricultural, manufacturing, mining, technology and tourism sectors in pursuit of a green and diversified economy that can deliver sustained and inclusive growth and development. The Ministry of Business is fully committed to building an en-

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abling environment for the conduct of business in Guyana and sees the Georgetown Chamber of Commerce and Industry (GCCI) as a valuable partner in this regard. I congratulate the GCCI on another informative and well presented publication and look forward to reading many more editions. I invite you to explore and enjoy the pages of the Business Guyana magazine and to be part of Guyana’s exciting future. Honourable Dominic Gaskin Minister of Business

INTRODUCTION

Editorial

ow in its ninth edition, the Business Guyana Magazine continues to demonstrate why the mark it left in the investment sphere as a guiding document is indelible. The thrust of the magazine, being ‘An Investor’s Guide to Doing Business in Guyana’ continues, as we have organized useful information for investors, quality images and relevant articles from some of the leaders, thinkers and influencers in the country into a fresh, appealing design. This year, we have reintroduced themes into the magazine around which the articles are organized. These themes were carefully selected through interaction and engagement with the private sector, civil society, academia and government and are some of the most important topics to the private sector in Guyana. After selecting the themes, specific articles were crafted by ‘movers and shakers’ in the field to articulate the current state of affairs and outlook for development of their sector or area of expertise. As such, the magazine has been organized around investment, private sector development, trade and foreign relations, entrepreneurship, academia and Guyana’s development, includes a Question & Answer segment from two prominent CEOs on entrepreneurship, Guyana: What you need to know and other information which may useful as an investor. The theme of the magazine this year – Guyana on the Rise – is most suitable as Guyana is preparing to enter into a new chapter of its development story. Since the discovery of oil in 2015 by ExxonMobil in Guyana’s basins, the development prospects for what was already a booming economy became infinitely more exciting. With first oil moving closer to becoming a reality, Guyana is ripe for investment. After years of sound macroeconomic management, robust growth, institutional strengthening and infrastructural development, the foundation is set for the country’s development take-off. Having been described as being on the ‘cusp of a boom period’ by Jamaican Prime Minister Andrew Holness and lauded in several international magazines as a hotspot destination for investment, the Guyanese economy is projected to grow, according to the IMF, in excess of 25 percent for consecutive years in 2020 onward. The President of the Georgetown Chamber of Commerce and Industry has estimated that over the next two (2) decades, the country is projected to grow by 400 to 2000 percent in Gross Domestic Product (GDP) indicating that this economic prosperity is not expected to be transient and simply wither away – a new Guyana is here to stay. Firms with the foresight to invest will benefit from first-movers or early movers advantage in an economy which is already buzzing with activity. Those firms who are able to do this, enter into partnerships with local investors to add the distinct Guyanese flavour, as well as earn their social license, are poised to benefit tremendously

from the impending economic boom. It is my fervent hope that this magazine aids in giving insight to Guyana and the relevant themes. Earlier editions of this magazine have been used, sometimes as the sole guiding document, by investors both local and foreign to aid in establishing their business. With these few words, I wish to remind that Guyana remains open for business, open for investment and the Georgetown Chamber of Commerce & Industry will continue to play its role as a business support organization in the facilitation of private sector development, trade and investment as it has done from the past 129 years. I trust that you enjoy this edition of the Business Guyana Magazine and it is able to demonstrate why Guyana is truly on the rise. Richard Rambarran EDITOR of the BUSINESS GUYANA MAGAZINE & EXECUTIVE DIRECTOR of the GCCI.

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Guyana: What you need to know

GUYANA: WHAT YOU NEED TO KNOW

Fast Facts A. Need to know 1. Population – approximately 780,000 2. National Motto – One People, One Nation, One Destiny

C. Government 1. Independence – May 26, 1966 from United Kingdom 2. Capital City – Georgetown

3. Official Language – English

3. Judicial System – Common Law

4. Flag – Golden Arrowhead

4. Legislator – 65 Member

5. Currency – Guyana Dollar (GYD) 6. National Bird – The Hoatzin 7. National Flower – The Victoria Regia Lilly 8. Time Zone – GMT-04:00

National Assembly 5. Head of State – H.E. President David Granger 6. Electoral System – Proportional Representation with General Elections held every five (5) years

B. Climate and Geography 1. Location – North Eastern Coast of South America 2. Area – 214,970km2 3. Climate – tropical; hot, humid, moderate by north-east trade winds;

D. Communication & Media 1. Country Code – 592 2. Telecommunications Provide – GTT and Digicel 3. Daily Newspaper – Stabroek News,

two rainy seasons (May to June;

Guyana Times, Kaieteur News,

November to January)

Guyana Chronicle

4. Rainfall – 2,300 annually 5. Temperature – 27C degree 6. Geographic Coordinates – 5 00 N, 59 00 W 7. Geographic Makeup – low coastal plain, hilly sand and clay belt, highland region, interior savannah 8. Border – Brazil 1,119km, Suriname 600km, Venezuela 743km G U YA N A O N T H E R I S E | B U S I N E S S G U YA N A

GUYANA: WHAT YOU NEED TO KNOW

Fast Facts E. Economy 1. Real GDP – US$3.45B 2. GNI per capita – US$4,456

G. Commercial Banking 1. Guyana Bank for Trade & Industry (GBTI)

3. Inflation rate – 2.6 percent

2. Bank of Baroda

4. Major Export Countries – USA, UK,

3. Bank of Nova Scotia

Canada, Venezuela, Jamaica,

4. Citizens Bank

Germany

5. Demerara Bank

5. Major Import Countries – USA, Trinidad,

6. Republic Bank (Guyana) Limited

Venezuela, Suriname, China, Japan 6. Major Industries – Gold, Rice, Sugar, Construction 7. Commercial Lending Rate – 13 percent

H. Emergency Numbers 1. Fire – 912 2. Police – 911

F. Administrative Regions Barima-Waini, Cuyuni-Mazaruni, Demerara-Mahaica, East Berbice-Corentyne, Essequibo Islands-West Demerara, Mahaica-Berbice, Pomeroon-Supenaam, Potaro-Siparuni, Upper Demerara-Berbice, Upper Takatu-Upper Essequibo

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3. Ambulance – 913 4. Police Emergency Response Unit – 225-6411

Investors Roadmap: Steps to doing Business in Guyana

Investing made easy

GUYANA: WHAT YOU NEED TO KNOW

RESEARCH AND RISK ASSESSMENT

formation to make a confident decision. They include: ● GO-invest: Guyana’s main investment agency ● Your country of origin’s embassy, high commission or consulate offices ● Chamber of Commerce or sector-specific organisation ● Business investment consultancies and accounting firms ● Guyana Americas Merchant Bank Inc. ● National budgetary presentations, as prepared by Guyana’s Ministry of Finance

Preliminary research has brought Guyana’s many wonderful attributes into clear focus to the extent that a potential investor can now readily contemplate setting up a business here. The next step in the research process is to gather the information needed to ensure the investment decision is worthwhile and feasible. The following The table below summarizes a body of Guyana Law that is most sources provide the solid starting point to consult and gather the in- relevant to investment-related business activity in the country.

Guyana Laws Relevant to Investment Activity Title Bank of Guyana Act (Chapter 85:02) Business Names (Registration) Act (Chapter 90:05) Capital Gains Act (Chapter 81:20) Companies Act (Chapter 89:01) Competition & Fair Trading Act (2006) Copyright Act (1956) Corporation Tax Act (Chapter 81:03) Deeds Registry Act (Chapter 5:01) Environmental Protection Act (Chapter 20:05) Financial Institutions Act (85:01) Fiscal Management & Accountability Act (2003) Gambling Prevention Act (Chapter 9:02) Hours and Holidays Act (Chapter 95:02) Income Tax Act (Chapter 81:01) Income Tax (In Aid of Industry) Act (Chapter 81:02) Investment Act (2004) Labour Act (Chapter 98:01) Land Registry Act (Chapter 5:02) Mining Act (Chapter 65:01) National Insurance Act (Chapter 36:01) Occupational Health & Safety Act (Chapter 99:10) Partnership Act Patent & Design Act (Chapter 90:03) Petroleum Act (Chapter 92:01) Petroleum (Exploration & Production) Act (Chapter 65:10) Prevention of Discrimination Act (Chapter 99:09) Property Tax Act (Chapter 81:21) Revenue Authority Act (Chapter 79:04) Revenue Authority Amendment Act (2006) Securities Industry Act (Chapter 73:04) Small Business Act (2004) Termination of Employment & Severance Pay Act (Chapter 99:08) Trade Act (Chapter 91:01) Trade Mark Act (Chapter 90:01) Trade Union Recognition Act (Chapter 98:07)

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Purpose Central Bank Regulations Registration and use of business names Taxation on capital gains Business regulations Competition and fair trading regulations Protection for copyright Taxation on corporate income Purchasing and leasing of private land Environmental regulations Commercial banks and other financial institutions regulations Accountability and transparency Restrictions on gambling Labour related issues Taxation on income Taxation Investment Regulations Labour related issues Purchasing and leasing of private land Mining regulations Labour related issues Accident prevention, risk mitigation Partnership regulations Registration, use and protection of patents Regulations on Petroleum Regulations on exploration and production Equal Employment Opportunity Taxation on Property Taxation agency Taxation agency Stock market regulations Small business regulations Labour related issues Import and export control and licensing Registration, use and protection of trade marks Labour related issues

GUYANA: WHAT YOU NEED TO KNOW If the application meets the minimum information standard required, the filing fee is paid and the application is then forwarded for review by various regional and public agencies. If no objections are received, the application is forwarded to the GLSC’s head office, where the Management Information Unit reviews and verifies the application before it is sent to a processing unit for a confirming round of verifications. The final schedule is prepared and submitted to the GLSC Commissioner who then forwards the package to the President and the GLSC board Once investors and potential business partners are confident and chair for final approval. If it is approved, the final lease is prepared and satisfied that Guyana is an ideal location for the business start-up, the granted. focus turns to the real estate and land market for setting up the office and operations. Guyana has qualified real estate brokers to consult for this purpose. Foreign investors also are treated in the same manner as domestic investors when acquiring or leasing land.

LAND SITE SELECTION

PRIVATE LAND Private property in Guyana is registered under two legal forms: ● Transported (governed by the Deeds Registry Act) ● TITLED (Land Registry Act) For those interested in purchasing private land for operations, the first step is to sign an Agreement of Sales and Purchase with the owner of the property. The agreement should contain the names and addresses of the buyer and seller, the agreed purchase/selling price and the location and description of the property. Then, investors must secure the services of an attorney to prepare an affidavit to explain the intent and particulars of the purchase. The owner of the priority is also expected to file a similar affidavit. The agreement and both affidavits are then submitted to the Deeds Registry, which places an announcement in the official gazette of record. Once the documents have been published, the public is allowed 14 days to register any opposition to the sale. Opposition might be based on a claim from someone who indicates the seller owes him some form of payment or compensation obligation or there is an existing lien on the property. If no protest is filed, then the passing of the transport (deed) is processed in two months’ time. For titled land, the process is the same except that the transaction does not have to be filed for gazette publication. Also, any contention from an outside party would be lodged with the Lands Registry. It is advisable that buyers check in advance with the Registry to verify if any claims have been made on the property in question. In Guyana, the State Lands Act (62:01) and the Land Development Act (59:01)govern the acquisition or leasing of government owned land. GOVERNMENT OWNED LAND The process of land identification begins with checking its availability and zoning status with Guyana’s Land and Surveys Commission (GLSC). If the land is available, an inspection is requested and one half of the fees are paid up front. A GLSC officer visits the site and completes an inspection report so that the application form for lease can be successfully completed and submitted to the respective regional GLSC office.

ENTRY AND REGISTRATION

Visas and Work Permits In Guyana, the Immigration Services Department of the Ministry of Home Affairs is responsible for visas and work permits. The Ministry has an updated list of countries who nationals require a visa that can be found at www.moha.gov.gy or via email at homin@guyana. net.gy for queries or additional information. For short term visits, individuals can apply for a visitor’s visa, which is valid for an initial 30 days and can be extended by immigration officials for two additional one-month periods. For longer term stays, business representatives and investors can apply for business visa good for five years, which can also be extended with official approval as necessary. Individuals and companies can apply for work permits and employment visas, respectively. Business Registration Businesses can legally register with the Deeds Registry in one of the following forms and statuses: single owner proprietorship, partnership or incorporated company. The Business Names (Registration) Act and the Partnership Act govern sole proprietorships and partnerships, respectively, and the Companies Act covers the registration of an incorporated business. Incorporation Incorporation involves more time than registering an unincorporated company and submitting the required articles of incorporation which should include the following items: ● The proposed name of the company ● The proposed address of the registered office in Guyana ● The classes and any maximum number of shares that the Company is authorised to issue G U YA N A O N T H E R I S E | B U S I N E S S G U YA N A

GUYANA: WHAT YOU NEED TO KNOW ● If there will be two or more classes of shares, the rights, privileges, restrictions, and conditions attaching to each class of shares must be specified ● Minimum issue price in respect of shares or classes of shares ● Number of directors; minimum/maximum number of directors ● Restrictions on the type of nature and business the company may carry out, if any ● The names, addresses, occupations and signatories of incorporators ● Statements naming the first directors and secretary and their consent to serve Investors also should take note that individuals younger than 18, or who have an undischarged bankruptcy, or who have been determined by a court to be incapacitated in terms of making legally binding business decisions cannot be involved in the incorporation process. After the articles of incorporation have been submitted, the fees due will be calculated. With issues such as a name that actually is a previously reserved name for another company, the applicant will be notified and directed to change the name. Fees are due at the completion of the application, which is then forwarded to the company division of the Business Registry. In two to three days, the certificate of incorporation is ready to be uplifted, which represents conclusive proof of incorporation of the company named in the certificate and the date of its incorporation. Foreign Firms There are special provisions for firms incorporated outside of Guyana, or what are called “external companies” in the Company’s Act. Additional information and documentation must be filed including the country within which the company was incorporated; its name, manner of incorporation, corporate instruments and the extent to which the liability of the shareholders/members of the company is limited. There is also a different fee structure.

REGISTRATION CIES N E G A X A T H T I W

The next step is to register the newly formed company with the statutory tax agencies, namely Guyana Revenue Authority (GRA), the National Insurance Scheme (NIS) and the respective municipal authorities. GRA All firms must register with the GRA to receive a Taxpayer Identification Number (TIN) which is required to conduct business with any government and public entities. To apply, representatives can complete registration at GRA Headquarters at 200-201 Camp Street, Georgetown or at any GRA Regional Office in Guyana. The GRA collects taxes of the following types: value added, income, corporation, property, capital gains, professional fees, withholding premium, travel voucher, environmental and excise. NIS All firms must also register with NIS, the national social security organization, to obtain a unique registration number. The application process can be readily completed at any NIS office. Companies must file monthly contributions for their employees. Self-employed individuals must also file monthly returns on their earnings. The total contribution is calculated at 14 per cent of the actual wage/salary paid to the employee is derived by a 5.6 percent deduction from the employee’s pay and the remaining 8.4 per cent portion by the employer on behalf of the employee. The actual wage/salary is, at present, subjected to a ceiling of $GY158, 159 per month ($GY36, 498 per week). The self-employed person contributes 12.5 per cent of his/her declared earnings as contributions.

Trade Mark Registration For companies needing to protect specific trade names, invented words and other distinctive marks, an application to the Registry Municipal Authorities of Patents, Designs and Trade Marks is required. The Registry will There are six municipalities in Guyana: Georgetown, Anna Regicheck for any previously registered trademark for similarities and if none is found, it will be published in the gazette for public scrutiny. na, New Amsterdam, Corrivertown, Rose Hall, Linden. Companies After one month, if there are no contested issues filed, the applicant are required to pay the duly outlined rates and taxes, including propwill be approved for a certificate of registration, which is good for erty taxes. Companies can register at the respective municipal office. seven years and can be renewed indefinitely every 14 years thereafter. For ease of navigating the registration process, it is strongly recommended that investors utilize the services of an attorney licensed to practice in Guyana.

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GUYANA: WHAT YOU NEED TO KNOW The architect or the local Chamber of Commerce can recommend few for consideration, as based on specifications. g. Once construction has commenced, a business principal must inform the city engineers department within 30 days from the beginning of construction and again once the construction is completed. Permit agencies include but are not limited to the following: Guyana Fire Service Department, Occupational Safety and Health There are several options for locally based financing in Guyana. Authority, Environmental Protection Agency, Food and Drugs DeGuyana has six private commercial banks with operations spread partment, Public Health Department and Guyana National Bureau of Standards. throughout the country. ● Republic Bank ● GBTI ● Demerara Bank ● Citizens Bank ● Bank of Baroda ● Scotia Bank These banks provide many services with loan interest rates averaging around 11 per cent.

FINANCING

UTILTIES

During before or after construction, utility services can be established and coordinated through the following entities: The Guyana Telephone & Telegraph Company Ltd. (GT&T), Digicel and E-Networks for landline, phone, voice, cellular connections and data. There are also other providers of Internet connectivity that can be found in the yellow pages of the GT&T telephone directory or by contacting the local Chamber of Commerce. Other important utility providers include the Guyana Power & At this stage, the investor and business principals are ready to Light Inc. (GPL) for electricity, the Guyana Water Inc. for water. develop the acquired land or property to establish operations. This For businesses in Linden, there is the Linden Power Company that process, as standard in any country, entails key steps, approvals and supplies electricity. permits. In Guyana, the process includes the following: a. Find a reputable architect to design and complete architectural renderings of the proposed building. All permits and approvals are contingent upon those blueprints. b. Completed renderings and plans are submitted to the engineers department of the regional municipality or town council for review and approval. The review encompasses factors including spacing, sanitation and disposal facilities, drainage, boundaries, lighting, ventilation, structural soundness and others. c. Once plans are approved and the Council agrees with the recAll items imported for the new business must pass through the ommendations of the City Engineers, the application is then passed onto the Central Housing and Planning Authority (CHPA). The Customs Department of the Guyana Revenue Agency (GRA). While CHPA will request multiple copies to distribute to various permit one can navigate this process without assistance, a registered customs broker can prove effective in expediting the process, saving agencies, where applicable. d. After CHPA has received notification and approvals from time and money. For individuals pursuing process independently, the required the relevant permit agencies, it approves the plans and returns them documents include bill of lading/airway bill, invoice, completed to the municipality. e. The municipality then issues a building permit to com- declaration (Form C 72), Taxpayer Identification Number (TIN), and permits and licenses, as applicable. Other documents to support the mence construction. The permit is usually valid for two years. f. Find a reputable construction firm to carry out the project. transaction (i.e. valuation) should be attached.

SITE DEVELOPMENT

IMPORTATION OF LS GOODS AND MATERIA

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GUYANA: WHAT YOU NEED TO KNOW The process includes the following steps: ● The importer, consignee, broker and agent lodges the required documents for vetting at the customs lodging area in GRA’S headquarters. If documents are not in order, they are returned to the importer, consignee, broker or agent for required revisions. A lodgement number is assigned to the completed set of documents and the entry will then be processed usually in one day, but may take up to three to five days, especially for a large shipment of multiple items. ● If the payment is greater than $GY30,000, the importer, consignee, broker or agent is issued an assessment notice which is paid at the office where tax assessments are satisfied. After payment, the broker or investor receives official receipts and copies of the entry before proceeding to the Transit Shed (T/Shed), where the goods are stored and the shipping agent will release the goods once the receipts and entry are presented for claiming the shipment. The officer-in-charge arranges for the transferring of goods to be examined prior to final release. The physical goods inventory is checked against items listed in the invoice. As experienced investors soon discover, the customs protocol in Guyana is similar to many other countries. Rather than inspecting every single item in a claim lot, customs officers employ risk-profiling techniques in which random checks may be conducted even if the risk profile is low for a particular item. The percentage of items to be examined is determined by criteria identified in the Total Revenue Integrated Processing System (TRIPS). ● Once all documents and inspections have been completed, the importer, consignee, broker or agent obtains delivery of the goods and the documents are stamped for release.

INSURANCE

Insuring investor and owner assets is an important part of the business start-up process and Guyana offers several channels for handling insurance needs. These include the Guyana & Trinidad Mutual Fire & Life Insurance Companies (GTM), the Hand-in-Hand Group of Companies, North American Life Insurance Company Limited, Demerara Mutual Assurance Society, CARICOM General Insurance Company and Assuria Life Inc. Companies unfamiliar or unsure about which firm to use for insurance needs are encouraged to contact a well-known insurance brokerage firm.

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HIRING EMPLOYEES

Guyana’s workforce is advantageous for its youthful energy, its large skills base in a variety of agricultural and manufacturing industry sectors and its capacity to adapt to and adopt technologies that are critical to today’s economies. Job postings are most widely disseminated in local newspapers and their popular classified advertising sections, especially for quick response from qualified applicants. The country’s daily newspapers include Stabroek News, Kaieteur News, Guyana Times and Guyana Chronicle. Another option is to procure the services of a local recruitment agency and some accounting firms coordinate and facilitate activities for hiring. The local Chamber of Commerce and Guyana Ministry of Labour do effective advocacy for identifying solid job candidates.

GRAND OPENING As in many other countries, when all of the steps have been completed in preparing a new business, Guyana’s communities enthusiastically celebrate a grand opening. There are professional marketing and public relations agencies which can facilitate event planning but in instances where cost management is important, key business personnel can do much to plan their own grand openings.

Investment

INVESTMENT

Ram & McRae Investment Supplement Withholding Tax

Corporation Tax

Payable by companies on taxable profits at the following There are four forms of withholding tax: rates: Activity

Rate

Non-commercial activities

27½%

Commercial activities

40%

Telephone companies

45%

Commercial activity is defined as “an activity carried out by a company trading in goods not manufactured by it, and includes an activity of a commission agency, a telecommunication company, a body corporate licensed to carry on banking business in Guyana, and an insurance company carrying on in Guyana insurance business, other than longterm insurance…” A minimum tax of 2% of turnover (revenue) applies to commercial companies unless proven to the satisfaction of the Commissioner General that tax payable using the rate of 40% is lower. Special provisions are applicable to Gold and Diamond mining companies, companies with petroleum operations, insurance companies, non-resident shipowners and several other types of companies. Corporation taxes are payable quarterly in advance with the tax return and final payment due on 30th April.

Rate

Distributions or gross payments to non-resi- 20% dents, interest on savings accounts, interest on loans secured by bonds and similar instruments Insurance premiums other than for long term insurance paid to non-resident insurers - not having a place of business in Guyana 10% - having a place of business in Guyana 6% Payments on account of any contract to 10% non-resident companies Payments to contractors in excess of 2% $500,000 per contract Withholding tax on the first two items are final taxes while on the second two items are creditable against Corporation or Income tax as appropriate. Withholding tax is generally payable within thirty days of the payment. Capital Gains Tax

Payable by companies and individuals on net capital gains at the rate of 20%. Gains are calculated by reference to market values on 1 January 2011 or cost thereafter. Gains on acquisitions and disposals within 12 months are Income Tax taxed as ordinary income while gains on disposal of assets Payable by individuals on gains or profits from any trade, held for more than 25 years or on the transfer of shares or business, profession or vocation; from any office or employ- stock held in a public company are exempt. ment; from rentals, royalties, etc. on a graduating scale: Tax Bracket

Rate

First $720,000 or ⅓ of total income

Next $1,440,000

28%

Remainder

40%

Property Tax Payable by companies and individuals on net property. Companies First $10 million

Individuals First $40 million

Rate 0.00%

Employee contributions to the National Insurance Scheme Next $15 million 0.50% and interest paid on mortgages meeting certain conditions Remainder Remainder 0.75% are deductible. Income taxes are payable quarterly in advance except Net property is valued by reference to market values on 1 for employees where taxes are payable under the PAYE January 2011 or cost thereafter. scheme. The tax return and final payment are due on 30th April. Loss Relief Tax losses for both companies and individuals may be carried forward indefinitely but may only be used to reduce taxes payable by 50% in any one year or, in the case of commercial companies, to no less than 2% of turnover.

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Ram & McRae Investment Supplement Double Taxation Relief Guyana has entered into treaties for the avoidance of double taxation and the prevention of fiscal evasion with the member states of CARICOM (except Suriname), Canada, and the United Kingdom. Value-Added Tax Applies at a standard rate of 14% with certain goods and services being exempt or zero-rated. The registration threshold is annual taxable supplies of $15 million. Fiscal incentives These include: - Tax holidays for activities which create new employment in certain regions or in certain activities; - Waivers of import duty on specified machinery, equipment and raw materials; - Exemption or zero-rating of certain goods and services for Value Added Tax, including transactions with a per unit price greater than $200,000 falling under an investment agreement entered into with the Government; - Accelerated and annual capital allowances on industrial buildings and structures, machinery and plant, mines, oil wells, patents, scientific research and workers dwellings to certain key trades and businesses; - Export allowances for non-traditional products to extra regional markets; National Insurance (Social Security) Payable by employees and employers at the rate of 5.6% and 8.4% respectively with a monthly insurable earnings ceiling of $240,000. Payable by self-employed persons at the rate of 12.5% with minimum insurable earnings of $68,750. The information presented in this supplement is necessarily summarised to provide an overview of tax and other matters relevant to the investor. The laws on which we rely may also change at any time. We therefore ask that you make contact with the firm for further details and assistance in doing business in Guyana.

Ram & McRae Chartered Accountants Professional Services Firm 157 "C" Waterloo Street,Georgetown, GUYANA Telephone: (592) 226-1072 E-mail: info@ramandmcrae.com Website: www.ramandmcrae.com

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INVESTMENT

Guyana: Open for Business By Guyana Office for Investment

uyana is on the move with enormous opportunities for investors. Its open economy is based on support for the balanced development of local and foreign investments. The Government of Guyana is committed to improving the ease of doing business and the investment appeal of the country. The Government encourages entrepreneurship and investment in the local economy by fostering an enabling environment while the private sector works towards improving the competitiveness of their products and services to global markets. Guyana offers potential investors, foreign and domestic alike, a diverse range of investment choices; from traditional industries (mining, timber and rice and sugar cultivation and production, and), to non-traditional sectors (aquaculture, agro-processing, fresh produce, light manufacturing and value-added wood products) to services (tourism and ICT-enabled services). The Guyana Office for Investment (GO-Invest) is that gateway which connects the world to Guyana, supporting entrepreneurs from around the globe to tap into the wealth of trade and investment opportunities available in the country. It is the Government Agency for any investor seeking the best and most accurate counsel to start a business venture, grow an existing one or explore available markets in Guyana or source export-ready products. Guyana’s investment climate is currently abuzz and booming with potential that allows for both local and foreign investors to develop and expand. As such Guyana offers a very attractive investment incentive regime to both foreign and domestic investors in the following eight sectors (industries): 1. Agriculture and Agro-Processing, 2. Light Manufacturing, 3. Services, 4. Energy, 5. Tourism, 6. Wood Products, 7. Information and Communication Technology, and 8. Mining.

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Both local and foreign investors will attest to the on-going improvements in their key areas of concern: (a) political, economic and social stability; (b) a strong financial sector; (c) an expanding modern infrastructure (bridges, roads and telecommunications); (d) the continuous reform of laws, regulations and key public service institutions; (e) the expansion and modernisation of the education, health and housing sectors; (f) an evolving local business sector; and (g) a forward-looking international outlook by the Government of Guyana. Strengthening the Traditional

Guyana’s vast tracts of productive agricultural land present enormous opportunities for growth. Indeed, agriculture already represents a significant proportion of Guyana’s domestic production (approximately 19.4 percent of GDP in 2016). In 2017, the New Guyana Marketing Corporation (New GMC) recorded a 25% increase in non-traditional agricultural exports when compared to the previous year, valued at GY$3.6 billion or US$17 million. Changes in the global trading environment, such as the reduction of guaranteed prices for sugar in the European Union, have placed pressure on Guyana’s traditional agricultural exports. As a result, the Government of Guyana is currently seeking to divest substantial land holdings and factory facilities owned by the Guyana Sugar Corporation and is accepting Expressions of Interest from Perspective Investors.. While Guyana’s traditional Agricultural Industry continues to

account for a significant percent of Guyana’s exports, it is obvious that the value and share of processed goods and fresh fruit and vegetable exports have experienced a positive growth trend in recent years. This is a result of efforts by both the Government and the private sector to diversify Guyana’s agricultural sector. With the strategic investments, Guyana could easily provide food security to the Region and become the ‘breadbasket of the Caribbean’ while at the same time increasing exports to markets worldwide. The Mining Sector, another traditional sector has seen significant growth within the last few years. The substantial increase in the price of gold in recent years has resulted in increased declarations and exports. The Government’s support for the sector is evident by its support of improved hinterland infrastructure and a favourable fiscal regime. The mining and quarrying sector represents a critical component of Guyana’s economy, the sector contributed 15.4 percent of Guyana’s GDP in 2016, a 4.5 percent increase from its 2015 contribution. Additionally, the extractive industries accounted for approximately 52% of Guyana’s total exports in 2016. Moreover, the Ministry of Natural Resources and the Guyana Forestry Commission (GFC) are working together to implement a complement of measures that are directed at strengthening and improving the forestry sector’s performance. These measures include forest areas allocation, sustainable forest management and capacity building to ensure producers are able to meet the international market requirements. While timber remains a traditional product of Guyana, the Government policies strongly encourages the produc-

tion and export of value added forestry products. Guyana: The New Energy Frontier

In 2000, the U.S. Geological Survey sparked the World Oil and Gas Industry’s interest in the Guyana-Suriname Basin with the release of its Assessment of Undiscovered Oil and Gas Resources in Central and South America. The 2012 updated report identified the Basin as the second-largest prospect on or near the continent. The assessment’s mean values for the basin were 13.6 Bbbl of oil, 21.2 Tcf of natural gas, and 574 MMbbl of NGLs. The gross recoverable resources for the Stabroek Bloc is now estimated to be approximately 3.2 billion oil-equivalent barrels, making it one of the most significant global finds in recent years. These discoveries have derisked the basin, which is estimated to contain at least 7 billion oil-equivalent barrels, and has resulted in the significant ramping up of exploration activities in other already-allocated off-shore blocs. At present, there are four companies involved in the exploratory work of the Stabroek Bloc in Guyana. Exxon Mobil G U YA N A O N T H E R I S E | B U S I N E S S G U YA N A

with its affiliate Esso Exploration and Production Guyana Limited is an operator in the 6.6 million acres Stabroek Bloc and holds a 45 percent interest. Hess Guyana Exploration Limited holds a 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest. Guyana’s emerging World Class Oil and Gas discoveries as well as Guyana’s status as the home of the CARICOM Secretariat, presents endless opportunities for investors in virtually all sectors, including the development of business services (e.g. convention services, catering, VIP transport, communications, logistics, training and development etc.) targeting international business people, multilateral organisations and non-governmental organisations. Fiscal Incentives Available

There are various categories of fiscal incentives available. These comprise of: General Incentives These incentives are to all Investors and include: • Exemption from Customs Duty on most plant machinery and equipment • Exemption from Customs Duty on raw materials and packaging materials used in the production of goods by manufacturers (plus zero rate of Value-Added-Tax on raw materials and packaging for manufacturers who export 50 percent or more of their products); • Unlimited carryover of losses from previous years; • Accelerated depreciation on plant and machinery for approved activities; • Full and unrestricted repatriation of capital, profits, and dividends; • Benefits of double taxation treaties with the U.K., Canada, Kuwait and CARICOM countries; • Under an Investment Agreement between the Government and the business exemption from Customs Duty and zero rated Value-Added-Tax on items approved and/or exemption from Excise Tax on items approved; • Zero rated Value-Added-Tax on exports. Sector Specific Incentives

Sector Specific Incentives deal with more specific Incentives Available within each of the Eight Sectors identified above. Other Incentives In addition to fiscal incentives, Guyana also offers the flexibility of purchasing or leasing land privately or from the Government. Conclusion With few exceptions (some restrictions in the Mining and Financial Sectors), foreign and domestic investors receive equal protection under the laws of Guyana and both have the right to establish, own and operate business enterprises and to engage in all forms of economic activities. For further information, Contact GO-Invest at 190 Camp and Church Streets, Georgetown, Guyana, South America Tel: +592 225 0658; 227 0653 Fax +592 225 0655. Email: goinvest@goinvest.gov.gy Website: http//: www.goinvest.gov.gy 30

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B U S I N E S S G U YA N A | G U YA N A O N T H E R I S E

Private Sector Development

PRIVATE SECTOR DEVELOPMENT

Scope for PublicPrivate Partnership Deodat Indar, President of GCCI & Richard Rambarran, Executive Director of GCCI

t is said in the public sphere quite often that Guyana is on the cusp of a take-off. While tremendous emphasis has been placed on the oil and gas industry and ensuring that the appropriate framework and mechanisms are in place in the form of local content, the Sovereign Wealth Fund and relevant laws, attention should be directed to another development which will materially impact the way investments are done in Guyana; that is, the rise of public-private partnerships.

Deodat Indar

Of such importance is this topic that our Ministry of Finance has prepared Guyana’s Handbook on Public Private Partnership Policy Framework, for which they must be commended. In the Handbook, a public private partnership (PPP) is described as ‘a long-term procurement contract between public and private entities, in which the proficiency of each party is focused /on the designing, financing, building and operationalizing of an infrastructural project or, providing a service through the appropriate sharing of resources and the risks and rewards relationship. Setting the Stage for the rise of Public-Private Partnership

Richard Rambarran

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In July 2016, with projections of future revenues from the oil industry, Guyana was thrusted in its income classification by the World Bank and other international development financing institutions from a lower middle-income to an upper middle-income country. This advance came off of the heels of strong economic growth, robust institutions and macroeconomic stability over a number of years. Whilst this development reflected our progress over the years, the reclassification of Guyana’s income status creates new challenges in the country’s financial flows. Of foremost concern is the ability to access finance from development banks at a concessional rate. With the government seeking to diversify its sources of financing, a great opportunity presents itself for the local private sector. However, even before the graduation to upper middle-income status, Guyana has been utilizing the PPP model. Foremost is the example of the Berbice Bridge Corporation Inc. (BBCI), which, to date remains the single largest Public Private Partnership in Guyana. It is envisioned that this model can be perfected and replicated in other development projects in Guyana.

Enter Public-Private Partnerships

The framework of the Public-Private Partnership can be viewed as an ideal opportunity for the private sector as it represents an avenue for earning return on capital as well as contributing to Guyana’s development. Moreover, given the nature of projects and a sovereign guarantee, an investor can benefit from reduced risk. Traditionally, PPPs have been applied to public infrastructure. Recently, there have been an increasing number of PPPs in the health, education and ICT sectors. In the early stages of developing PPPs, the current Government has signaled their focus on the following areas of development: 1. Demerara Harbour Bridge; 2. Linden-Lethem road link; 3. Deep Water Harbour and Container Port; 4. Mini and Maxi Hydro Plants and Energy Farms; 5. Plantation Agriculture; 6. Modernization and Dredging of Port Georgetown; 7. Milk Plant for Guyana; 8. Information Technology farm; and 9. Agro-industrial and Small Manufacturing arks These projects, once programmed into a coherent national policy, will represent an recommencement point for public-private partnerships.

for directing capital which can then benefit from a reasonable rate of return. 2. Complimenting Structured Dialogue and Improved Private Sector Insight However, going forward, it is expected that PPPs will be complimentary to structured dialogue between the private sector and government and can provide a mechanism to give insight into the objectives and culture of private sector in Guyana. This improved understanding would hopefully be translated into policies which create a more enabling environment for the private sector and its development. 3. Lower taxes through medium-term fiscal impact Since the PPPs involve a contribution by the private sector, this reduces the volume of financing which the government would have to provide to a project. In other forms of project financing, the government would be the sole investor. In this case, with the private sector injecting capital into development projects, the costs are shared. This will reduce the burden on the government’s coffers and free fiscal space. As such, it is the expected that the rate of growth of taxation will decline as space is freed from loan obligations to allocate to other areas of spending. With the anticipated reduction in tax, greater private sector growth is expected through reduced payback periods, increased profits for reinvestment, business expansion, research and development and technological innovation. Recommendation & Conclusive remark

The utilization of the PPPs is a step in the right direction for Guyana. We are hopeful that this mode of financing will induce a transformation in the financial architecture of development projects where the private sector can be more participatory and a greater meaning of public-private cooperation for development can be realized. To induce private sector contributions in a PPP framework, it is necessary for clear and credible signals to be sent by the government through the presentation of a coherent plan. Otherwise, the ‘inducement for investment’ will be absent; a notable factor in economic Some Expectations from the Public-Private Partnership development. In the context of Guyana’s productive economy, the framework PPP model can be used to facilitate economic transformation e.g. a 1. Financial Benefits Public Private partnership to promote agro-processing in the form Most apparent are the financial benefits to the private sector of an agro-processing plant, and stimulate production higher up the which the PPPs can provide. These investments provide an avenue value chain.

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PRIVATE SECTOR DEVELOPMENT

Unleashing Competitiveness:

An enabling environment for Private Sector Development in Guyana Private Sector Commission Situational Analysis:

Guyana’s economy can be characterized as one that is Private Sector driven but with significant influence by the Government. The economy has been growing positively during the last decade with growth concentrated strictly in the primary/traditional sectors such as Agriculture, Forestry and Fishing and Mining & Quarrying. The need to diversify the economic base is vital at this point in Guyana’s history as the economy remains vulnerable to external shocks due to volatile global commodity prices. Successive Governments have tried to move away from this reality of reliance on our traditional sectors and to focus on value addition through manufacturing; as this would certainly be relieving to ensure the sustainable development of Guyana and the creation of critical employment opportunities. However, this vision can only be achieved unless there is an “Enabling Business Environment”, supported by the Government of the day, to encourage and attract local and foreign investment, respectively in clearly outline sectors that have the potential to be the key drivers of economic growth and development in the long term. In the World Bank’s Ease of Doing Business Report 2018, Guyana ranks only 129 out of 190 countries, well below our Caribbean counterparts. Additionally, Guyana’s recent performances at the World Economic Forum’s Global Competitiveness Index showed from the year 2015-2016 Guyana’s average score was 3.6 out of 7 (7 being perfect or best) whereby it has never received a rank under 100 36

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although the report covers approximately 148 countries. In October, 2017, the Guyana Business Summit was held with an aim to discuss the challenges and opportunities for business growth and expansion. During discussions among crucial stakeholders – Government, Political Opposition, Private Sector, International Institutions and Civil Society a critical point belaboured was the need for an ‘Enabling Business Environment’ in Guyana which many articulated, was the central pillar to private sector development and by extension, Guyana. In consultation with Private Sector representatives about the constitution of the ‘Enabling Business Environment’, it was evident that the topic at hand possessed specific definitions to different individuals. However, most of those definitions focused on three important pillars; namely: 1. 2. 3.

Core Business Enablers Regulatory Procedures Investment Readiness

These subsets of the ‘Enabling Business Environment’ can be nicely captured in the definition established by the Donor Committee for Enterprise Development (DCED[1]); the “Enabling Business Environment” refers to “the improvement of the functioning of all business by reducing business costs and risks caused by poor or changing government policies, laws and regulations, and by increasing competition by stimulating new market entrants.” 1. Core Business Enablers

Core Business Enablers represent the overarching policies, projects and programmes that are crucial to support private sector development in Guyana. These policies seek to address fundamental issues affecting Guyanese in the area of business start-ups, competitiveness and business expansion. They basically set a good founda-

tion for businesses to thrive on. Some issues to be address in this area are: i. Economic Stability ii. Cheap and Reliable Energy for Businesses iii. Access to Finance for SMEs iv. Enabling Taxation Policies & Incentives v. Transport Infrastructure & Port Facilities vi. Skilled Workforce vii. Government Bureaucracy viii. Public-Private Dialogue ix. Business Development Services 2. Regulatory Procedures

These highlight those procedures and regulations that immediately affect businesses through the cost of compliance, time and bureaucratic processes. It is well established in the business world that loss of time equates to loss of money; hence, under this heading government procedures will be assessed to improve their efficiency. Some issues to be addressed under this heading: i. Time and Cost to acquire Compliance, Licenses and Permits ii. Efficiency of Commercial Court The diagram above summarizes the components of the ‘Eniii. Legal Procedures abling Business Environment’. iv. Time & Cost for Trading Across Borders Components of the “Enabling Business Environment”

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v. vi. vii. viii. ix. x.

Customs Clearance & Procedures Revenue Reimbursements Renewals of Business Documents (Time) Starting a Business Registering a Property National Procurement

3. Investment Readiness

Investment Readiness is a component of the ‘Enabling Business Environment’ which addresses foreign direct investment particularly and new entrants to Guyana’s market. Investment Readiness tries to ascertain whether the country has a favourable investment climate and also outlines the risks associated with investments in Guyana. Some areas to be addressed under this heading: i. Capital Market Development ii. Strength of Institutions iii. Law and Order – Crime iv. Macroeconomic Environment v. Labour Force Quality vi. Political Stability vii. Innovative Capacity – Research & Development viii. Labour Regulations ix. External Markets/Trade x. Standards xi. Technological Readiness xii. Business Sophistication – Cluster Development 38

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or Economic Zones xiii. Market Size xiv. Investment Protection The importance of a stable Political Environment and Governance

Policy focus of the political parties on improving the business environment: Both Political parties seem to have the interest in business environment enhancement .The first pillar under the PPP manifesto address competitiveness and economic growth seeking to reduce taxation, bureaucracy, improving access to finance etc. The National Competitiveness Strategy established under the previous political administration outlined policies to support investment climate development cut across most sectors of the economy to generate a business-friendly investment climate. The core policies include two types of interventions: 1. Incentive Policies: Policies which provide for a stable, predictable macroeconomic environment and those which exercise performance pressure on firms to become competitive (including monetary, fiscal, and exchange rate policy), competition policy, taxation policy and trade policy. 2. Supply Side Policies: Policies which are geared to overcoming systematic market failures in factor markets which impede the building up of competitive advantages by enterprises (including technology and standards), finance, investment promotion (includ-

ing FDI),infrastructure, export promotion, procedure regulations (red tape), and aspects of the legal system (including commercial dispute resolution).” The APNU/AFC manifesto 2015 identified that one focus was the development of employment and growth in simulating investment this is stated to be approached as providing targeted tax incentives, radically less administrative procedures and creating special funds for specific disadvantage areas and centres of excellence to build skill and for training in relation to SMEs. Under the 2018 Budget it was presented under Business and Investment focus will be placed on devising strategies to address constraints to business, particularly in access to credit with the implementation of a Secure Transaction Regime in 2018. Additionally focus will be placed on developing an export competitiveness strategy. More Long term focus highlighted within the Ministry of Business’ 2016-2020 Strategic Plan are based on the following 1. Establishment of a Doing Business Committee and Action Plan 2. Implement a single windows transaction for trade transactions 3. Provide statistics and economic analysis for businesses Strength of Governance: According to World Bank Strength of Governance index quality of governance have been fairly neutral from 1996-2016, remaining below of below 0 but above -1 indicat-

ing there hasn’t been significant relative fluctuation in these governance indicators. Lobbying Strength of the Private Sector: Both the government and private sector believe that to improve competitiveness and the investment climatewell-structured Public-Private Dialogues are needed.. Thus, Public-Private Dialogues would be the most beneficial machinery to both the Private Sector and the Government to overcome these hurdles that are impediments to our country’s development. With the absence of these formal mechanism dialogue is still maintained through various mechanisms. One such being ministerial level dialogue established between main private sector representatives and Ministers particularly those within the economic sectors. Leveraging the Educational Environment and Training

There is a need for demand side oriented TVET system in Guyana. With the market dictating what skills and competencies are needed, the training system can respond with programs that offer the opportunity for high level skill development, credentials that the marketplace values and, most importantly, employment. This orientation reform needs to be coupled with effective skill gap analysis of the priority economic and business sectors. There has been an introduction of the School of Entrepreneurship and Business Innovation which speaks to a promising redirection of qualification and training for an investment and business focused economy. G U YA N A O N T H E R I S E | B U S I N E S S G U YA N A

Other institutions identified within the local environment that support and enabling business environment are, ‘The Centre for Local Business Development’ which provides a space for local firms to learn about opportunities in the oil and gas sector, strengthen their competitiveness, and prepare to supply the oil and gas sector with various services, the Institute for Private Enterprise Development (IPED) and the ‘Small Business Bureau’ whom implement programs and offer services which address major constraints faced by small businesses – access to finance, business management and technical skills.

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A Vision for LNG in Guyana

By John Thompson, President, Icon LNG

iquefied natural gas (LNG) is currently the world’s fastest growing fuel. Driven by competitive costs, increasing LNG supplies globally, a fifty year history of safe transport over land and sea, and its cleaner environmental footprint relative to other fossil fuels, LNG shipments are expected to set a new record in 2018 topping 300 million tons up from 285 million tons per year in 2017. That represents growth of 7.2% year over year on top of almost 10% growth from 2016 to 2017. It is clear that the world’s demand for proven cleaner fuel sources is on the rise. Having committed in the 2016 Paris Climate Accords to limit greenhouse gas emission such as carbon dioxide, over 175 countries are actively seeking strategies to reduce their reliance on refined petroleum products such as diesel, heavy fuel oil and gasoline. Given its attractive combination of low cost and low emissions, LNG is meeting these needs for many countries. When used as a fuel, LNG emits virtually no particulate matter (PM) and significantly less carbon dioxide (CO2), nitrogen oxides (NOx) and sulphur dioxides (SOx) than conventional petroleum products. For example, compared to oil, LNG emits 28% less CO2, 80% less NOx and 99% less SOx. Together these emissions con42

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tribute to the accumulation of greenhouse gases in the world’s atmosphere and are recognized as a leading cause of global warming, climate change and pollution induced respiratory issues. LNG is natural gas in its frozen (or cryogenic) form. At -160 Celsius natural gas experiences a phase change to liquid. But why liquefy natural gas in the first place? Because it is much denser as a liquid, occupying only 1/600 of its volume when compared to its gaseous form. This makes transporting and storing LNG easier and safer when compared to natural gas. LNG is also a stable liquid, is not toxic nor corrosive and is lighter than air in its gaseous state. When exposed to the environment in an unconfined space, LNG vapors are not readily flammable and will quickly evaporate unlike LPG, which is denser than air and sinks creating a potential fire hazard. LNG also leaves no residue to clean up on soil or water, unlike petroleum derived liquids. LNG has been safely transported at sea in large tanker ships since 1958. Today there are more than 500 registered LNG transport vessels circumnavigating the globe. Since the first cargo, the LNG industry has continued to innovate, especially for shipping small quantities. Today, LNG in micro volumes of 12,000 gallons or less is safely transported in vacuum insulated cryogenic tanks. These tanks are multi-modal and pass from a cargo ship to a truck with chassis for inland delivery. The LNG inside remains chilled at -160 Celsius

PRIVATE SECTOR DEVELOPMENT and is not pressurized so it is not explosive, unlike compressed gasses, such as LPG, or refined petroleum fuels, such as gasoline. For customers requiring LNG in amounts larger than truck loads but less than traditional bulk cargoes, new technologies are being developed. Factory built insulated storage tanks are widely available and can save time and money to install versus field erected tanks. Additionally, floating storage units (FSUs) are being developed in a variety of sizes. These can be configured as either powered vessels or stationary barges that can be anchored near LNG users such as power plants. A smaller sized LNG cargo ship could make regular deliveries to a floating storage barge thus creating a continuous supply chain. In Guyana, the cost of imported LNG could be competitive to the cost of gas from an undersea pipeline, which requires enormous capital investment. To justify construction of a pipeline, a massive new power plant as well as other currently non-existent downstream gas processing investments are required in order to create sufficient demand. The risks of these large projects are substantial in a small country of only eight hundred thousand people. If gas or power consumption is less than projected, the pipeline and power generation capacity will be underutilized, resulting in gas and electricity costs higher than budgeted since the capital invested in these large projects will need to be absorbed by the lower actual demand. An alternative approach for Guyana, proven throughout Europe and parts of Asia, is to use imported LNG in small amounts to match demand and supply over time, thereby avoiding risks of underutilization. Guyana’s existing diesel and heavy fuel based power generation assets could be inexpensively adapted to work on LNG or eventually replaced with new LNG fueled generators. Phasing this transition to LNG over time as existing equipment reaches the end of its useful life matches the timing and size of capital outlays to when and where they are needed and minimizes overall costs. With most of Guyana’s population and power demand located along the Demerara, Essequibo and Berbice rivers, small LNG tanker ships could easily navigate to receiving terminals positioned adjacent to existing power plants. Once LNG is in a storage terminal it can be transported over road in tanker trucks giving it several other potential uses. The ability to use existing public transportation infrastructure to move LNG internally is attractive when compared to the time and money needed to develop a gas pipeline network. Legal negotiations over rights of way with multiple private land owners as well as long disruptive construction periods are just a few of the issues common with pipelines. Another use of LNG in Guyana is as a clean fuel for the transportation sector. Currently, imported petroleum products used for vehicle fuel represent almost two thirds of Guyana’s annual petroleum consumption. Imported fuel used for power generation represents just twenty percent of annual consumption. Consequently, while a new power plant might justify the construction of an undersea gas pipeline, it will do little to address Guyana’s overall greenhouse gas emission levels, which are produced primarily by the transportation sector. On the other hand, LNG can be delivered in tanker trucks

to gas stations equipped with LNG storage tanks and compressors that produce CNG, which is a clean and safe fuel for cars, buses and trucks. This set-up has been successfully used in numerous countries over decades and would introduce an entirely new CNG fuel based industry to Guyana. ICON LNG has been active in Guyana for over two years promoting the benefits and opportunities of using LNG. Since the fall of 2017, ICON and Demerara Distillers Ltd. (DDL) have been running a pilot project at DDL’s facility at Great Diamond. LNG delivered by truck is currently used to power a diesel generator outfitted with dual fuel equipment. This technology allows the generator to run on a blend of diesel and LNG. ICON and DDL have measured the engine’s performance over time which shows an average fuel blend of 61% LNG and 39% diesel at various load factors. The resulting emissions reductions are also tracked with CO2 down by 21% and particulate matter down by 45%. The pilot project demonstrates how LNG can work with existing equipment to reduce pollutants associated with traditional petroleum based fuels. Guyana’s future energy needs will certainly increase driven by economic growth from oil production. How will that new energy support the country’s green state development strategy? As described in this article, small scale LNG offers several uses and benefits that can meet Guyana’s clean energy goals.

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PRIVATE SECTOR DEVELOPMENT

Movietowne – transforming the Cinema & Entertainment Industry

he MovieTowne franchise revolutionized the cinema and entertainment industry, and image of Trinidad and Tobago, and is about to do the same for Georgetown, Guyana, as MovieTowne Guyana surges into life in July 2018. Guyana, the land of Mr Chin’s birth, is the first CARICOM country to benefit from his investment. The complex, situated at Turkeyen, East Coast Demerara, is similar in scope and stature to the flagship MovieTowne complex at Invader’s Bay in Trinidad. It is a 200,000 sq. foot complex on 10 acres of land. Under the banner Multicinemas

Derek Chin, CEO of Movietowne delivering remarks at GCCI 2017 Annual Gala and Awards Presentation

Guyana Inc., the complex will have 8 screens with 2D and 3D digital cinema technology, Dolby Surround audio technology, and luxurious seating capacity for up to 2,000 patrons. Derek Chin, owner of MovieTowne, says that “the focus of MovieTowne has always been and will continue to be geared at creating the ideal environment for families to strengthen bonds and create lifelong memories. When I build something, it has to be at first-world standards.” MovieTowne Guyana will host a first world ultramodern complex of shopping, dining and entertainment comprising both locally and internationally recognized businesses. Guyana, whose name means "the land of many waters”, is a land full of beauty, togetherness and strength. The strength and expansion of the businesses include Massy

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Stores Super Centre, a major tenant that occupies 60,000-square feet, making it the largest Caribbean outlet. Internationally recognised franchises such as the Hard Rock Café, Ruby Tuesday, Rizzoni’s and Texas De Brazil will also make their home there. An open-air stage area will host musical performances for both local and international talents, and there will also be an arcade of games that patrons can enjoy with family and friends. T&T film talent was significantly boosted following the establishment of MovieTowne in 2002, and, as such, Mr Chin has expressed confidence that MovieTowne Guyana’s creative arts industry will enjoy a similar benefit and experience. Movietowne Guyana will therefore facilitate and support the Guyanese Creative Arts industry by offering opportunities and exposure to local Guyanese film producers. Although MovieTowne is a world-class franchise, it is for everyone to experience quality entertainment. Other benefits will include the improvement and sustainability of Guyana’s power supply whereby a Memorandum of Understanding with the University of Guyana, Turkeyen Campus, for a solar farm to offset operating costs and alleviate the problem of unreliable electricity for the University and the Turkeyen, east coast Demerara area. MovieTowne Guyana is pioneering expansion and development of future business opportunities in Georgetown. G U YA N A O N T H E R I S E | B U S I N E S S G U YA N A

PRIVATE SECTOR DEVELOPMENT

Guyana Carnival:

q&A with kerwin bollers, hits & jams entertainment Question from GCCI: How would you describe Guyana Carnival?

Kerwin Bollers: Guyana Carnival basically is a Guyanese version of Carnival. As you Carnival is now a global phenomenon across the world. It is now celebrated or hosted in over 52 countries with places like Germany, Japan, Hollywood, Bermuda and St. Maarten being the latest to add Carnival to their Calendar of Events for the year. There is a big movement as it relates to what we call Carnival Chasers - those persons who look for different carnival experiences. So what we wanted was to have a Guyana Carnival which celebrates our Independence and at the same time give a Guyanese spin to Carnival by exposing our food, arts, performances, as well as, use it as a main objective to bring tourists to Guyana. Also we found out that a lot of persons in the USA, the Guya-

GCCI: What acted as the inspiration to birth the idea of a nese in the diaspora would get their tax returns around the month of Guyana Carnival?

KB: The birth of the idea came from when Guyana celebrated its Golden Jubilee. It was a big celebration done in Guyana for Independence with Guyana turning 50. We as a group had hosted about four events that were very lucrative at that time for more than one reason. Of course there were a lot of Guyanese who came back to Guyana from the diaspora to celebrate Guyana’s 50th Independence Anniversary, and there were also a few tourists who came so the economy actually benefitted tremendously from that. There were some talks from the Government that due of the success in the service industry to continue a similar festival around the month of May. It was also very fitting for patrons in the diaspora who could not make it in time for Mashramani since they usually come for Christmas and cannot come back in February. It is financially strenuous for them on them so a lot of persons we spoke to felt that May is a good time of the year. 46

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April or May so financially for them it was better. When the Government announced that they were looking at the possibility of further or continuing the festival in May we thought it was a good idea. The following year they did not do anything so immediately it dawned on us that we could this period to create a period of income and that’s how we jumped on the idea of having a festival. Then, we talked about what we could do that is different from what is happening throughout the year. So we thought about doing a destination type event that would bring people to Guyana. I think locally the entertainment industry has been saturated and we continue to pretty much look to the same people, same sponsors, same patrons to support and attend all these events so we thought about some event that we could create to attract tourists and those in the diaspora and we thought of something that persons would immediately identify. And that’s how we came up with the Carnival concept. Because it doesn’t matter

tions of various business and Government entities through display and that is our cultural activity. And itâ&#x20AC;&#x2122;s also the celebration of our Republic. Carnival is different as in it is a business model which is pretty much to engage persons to indulge in a festival. At Mash costumes are produced and given to government agencies with Carnival you have to purchase you costumes. The idea of Carnival, there is no theme. The only theme is to come and frolic and have a good time. Secondly it is just supported by the Government and not financed by them and thirdly the objective is different from Mash; where Mash is to display various aspects of the theme and the contribution whereas Carnival is to attract both locals and foreigners. which part of the world you are from the time you hear the word Carnival, it gives you the sense of the type of event. So we thought that Independence, when not much is done in Guyana apart from the 50th, Independence, we decided to use it to celebrate Independence in a Carnival type atmosphere Guyanese style. GCCI: So building on that how does it differ from what usually occurs around Mashramani?

KB: Mash is pretty much a cultural event that is supported and funded mostly by the Government. For Mash there is a theme every year which is depicted by government agencies on the road. It is a local event and I think the objective is to highlight the contribu-

GCCI: With that in mind, what international marketing strategy has been utilized concerning Guyana Carnival?

KB: We would have a tremendous job in marketing Guyana Carnival. We had campaigns on Caribbean Airlines in the in-flight video feature magazine for the last three months and that gained a lot of traction. We have been featured on the front page of the Liat in-flight magazine. We did a lot of work in Carnival this year in Trinidad. What we also did is that we partnered with some of the recognized brands in the Caribbean from various carnivals and used them as machines to push to their supporters. So we have like a group called Tribe from Trinidad who is one of the biggest costume band in Trinidad, they are partnering with us to do an event in Guyana so what G U YA N A O N T H E R I S E | B U S I N E S S G U YA N A

PRIVATE SECTOR DEVELOPMENT they have been doing is selling their event in Trinidad to encourage their supporters to come to Guyana. We have Scorch which is also a big event, Revel Nation and a few others. We have some Guyanese promoters who we would teamed up with to do heavy promotions in the New York and Miami areas and those persons are having parties in Guyana. So the idea of that is to have them push their events to their supporters in the various places. Apart from that we have been to Trinidad Carnival and done a lot branding in events, on the road, some interviews and we booked international DJs who perform at the various Carnivals and who are very instrumental in promoting Guyana Carnival in the various Carnivals happening. We also did a lot of work in Jamaica carnival; we did some branding, events, promo girls and shared out flyers. So we have done a lot of work. We have about six media Carnival well known websites who are on board with us pushing the event online in the various markets such as the UK, Canada, Jamaica, Trinidad, Barbados and New York. We also have teamed up with a company in Canada who does work for the Guyana Tourism Authority and is doing work in Canada. We also teamed up with Crop Over through the Barbados Tourism Authority who are one the sponsors of the Guyana Carnival who came on board in a huge way financially to support the initiative and to partner to support Guyana carnival while we support Crop Over so they will be doing some exchange in terms of promotion and will be here with No Crew Left Behind. And we are also in talks with the National Carnival Commission who is in charge of Carnival in

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Trinidad and they are hoping to come on board with us. We have also just signed on with Uber Soca Cruise which is the biggest soca cruise around the world who just joined as a sponsor and will be doing some giveaways for the Uber Soca Cruise which comes up in November. So persons who purchase tickets in Guyana have a chance to win all inclusive tickets to Uber Soca Cruise. So in terms of international as you can see we have done a whole lot of work as it relates to getting Guyana ready for Carnival. GCCI: Which are some of the countries you expect persons to flock from as well as how do you see the Guyana Carnival to impact on the Tourism Sector here in Guyana?

KB: I think we are expecting most of our support to come from neighbouring Trinidad, Barbados and some of the smaller islands. So Liat has a promotion where anyone traveling to Guyana gets a 20% discount on flights if they travel between the 18th – 27th May. They have put it on their website and done blast emails to all of their customers. They will be giving away passes and costumes in promotions and has launched a $300 USD return airfare so we are seeing the numbers coming in from Barbados and we have seen the numbers in terms of online ticket sales for the events. There are a lot of people coming from Trinidad, the US, the UK but definitely North America and the Caribbean with Trinidad and Barbados being the front runners. As it relates to the impact on the local tourism market, Kes was here about 4-5 days ago and did a 2 minutes feature

on Guyana. These are the types of support the Carnival will give to the local tourism industry. When Artistes are coming to Guyana to perform, you have all these different entities who are also coming. Of course social media is one of the biggest marketing platform so people get to see Guyana and they get to be exposed to our culture and I think that will be big for the tourism industry. In terms of Hotels we have partnered with some local hotel chains through the GTA, we have done training in hospitality with some of the hotels and have sponsored a one day training to get them prepared to deal with tourists. Some of the main hotels would have signed on with us and have offered Carnival packages and rates to patrons and so far the rooms are going really fast. I had a meeting with Marriott and they said they are almost booked out. Sleep Inn and Princess Hotels are also doing fairly well. So it’s a good way for those in the service industry to benefit. The taxis, the airlines, the country gets taxes and all benefits in something like this. A lot of people are coming to Guyana for the first time. Guyana has now positioned itself on the international market with oil so persons are using carnival as an excuse to come to see what we are all about, but you can come if you have a business interest in Guyana and see all of the business opportunities available here. This is different from our jubilee celebrations where I think about 90% of those person were overseas based Guyanese who came back for the 50th. This time around there is a lot of people who are coming for the very first time. And that will impact tourism in a massive way. We have also booked some day tours for persons because we have a website that is divided in two ways. One is costumes and the other part is discover Guyana that shows you

where to go, what to do, hotels, bars, food etc. and part of that we incorporated the tour operators so we have deals from tour operators and have booked for those who would have indicated that they wanted to do tours. In saying that there are a lot of people outside of Guyana who are waiting to see what the fist Carnival is going to be like before they commit to the second one. But once we start on the right foot it will impact Guyana in a massive way. GCCI: Who are some of the names behind Guyana Carnival?

KB: There is a diverse Committee. When it started it was of course Hits & Jams but has expanded to a planning Committee which has persons like Mr. Bobby Vieira, who is the Chair of the board, Ashley Peroune, a Guyanese who is coming from an economics background, Timeka Marshall, Alana Tiwari, Navin Singh. A very diverse group of young people involved. We have Andrew King who is a producer - Drew Thoven, Chontelle Sewett who is our creative consultant so a lot of young minds involved in this event.

GCCI: What would you say is the approximate investment in the Guyana Carnival?

KB: It’s definitely going to exceed over 200 Million GYD

GCCI: In terms of the plans and visions, where do you see it going over the next couple of years and how do you see it taking off?

KB: For me, I think that it can emerge as one of the major Carnivals in the region for many reasons. Trinidad we can’t take that G U YA N A O N T H E R I S E | B U S I N E S S G U YA N A

PRIVATE SECTOR DEVELOPMENT away from them as I would say in the Caribbean not the region as Brazil is still the biggest Carnival in the region but Trinidad is the mecca of Carnival and there are lots of similarities between Trinidad and Guyana in terms of food, culture. I think we have more similarities with Trinidad than with any other country. Look at our ethnic build up, our music taste, there’s a huge Chutney and soca base in Guyana. For a lot of persons who go to Trinidad for Carnival, I think they would find Guyana Carnival as comfy in these aspects. Some of the other countries who host Carnival the music and taste is a little bit different. Guyana starting a new Carnival will be beneficial to us. For one our accommodation is way below the cost of accommodation compared to the other countries that hoist Carnival or carnival type events. If you look at the cost of costumes in Trinidad, Barbados, Jamaica just to name a few, we are way below them. So all of those little aspects will put us in a competitive way moving forward. Secondly I think the oil has put us on the world map as a major oil producing nation and persons will use the opportunity to come to Guyana. We could be repositioning ourselves in a few years economically. I think that we stand to create a very good Carnival. Outside of that we have about a 1.2 to 1.5 million persons estimated second and third generation Guyanese who have never visited Guyana before. We would have seen them in other Carnivals and they’re always looking for a good reason to come to Guyana. Now that we have introduced Carnival, we have seen a lot of second and third generation Guyanese saying listen I am coming because my mom is from there or my dad is from there. We are in a position where in two to three years once done correctly we can be a major Carnival destination in the Caribbean. If you look at our location which is very central close to Trinidad and Barbados, price of flights and it’s very affordable. I think with Guyanese in the diaspora and

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neighbouring countries we could position ourselves to be a major Carnival destination. GCCI: What are some of the events persons can expect and any last words for someone looking to attend Guyana Carnival?

KB: We have a wide of events from boat rides and we have brought the here already. It is party boat built for party type events. We also have some beach parties using the Marriott Beach front, we have concerts and j’ouverts. We have ten days with over 20 events. All of these evenst can be found on our websites. Some of the major ones people are looking forward to are the parade, Machel, Bunji Garlan, Kes, Destra and Spice, Wet Wednesdays, morning breakfast party and j’ouvert. There’s a host of events persons can be a part of. Also we had some of the banks coming on board by offering loans to patrons with a loan of $300, 000 maximum. So the banking industry benefits, the service industry benefits, make-up artists benefits as we have a list of young Make-Up Artists so that persons can get their makeup done professionally and they are almost already booked out. So everyone benefits from an initiative like this. GCCI: Any last words?

KB: The tagline is ‘just get here.’ And that’s the idea. Just get here and we will take care of everything else. We have a very good Carnival put together. Our culture, our hospitality is good. For the locals, it is something to be proud of so spread the words as much as possible. A lot of persons are excited to come here for the first time and we should be excited to host them. I now that our Tourism Ministry has been working to get people to Guyana over the years and I think this event would be a continuation of that approach to get people to Guyana physically.

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B U S I N E S S G U YA N A | G U YA N A O N T H E R I S E

Entrepreneurship, Academia & Guyanaâ&#x20AC;&#x2122;s Development

ENTREPRENEURSHIP, ACADEMIA & GUYANA’S DEVELOPMENT

An Overview of Micro and SMEs: A focus on development in Guyana Dr. Nazim Baluch CUSO Volunteer at the GCCI & MSME Development Specialist

fficient infra and info structure matters to growth and development is now well recognized and widely understood among practitioners and policy makers alike. Micro, Small & Medium Enterprises (MSMEs), sternly reliant on effective info-infra structure and transport system, contribute bulk of the jobs in the communities they operate and contribute to local economic growth and development. However, they face a range of impediments that constrain operations and growth, namely: Access to efficient Transportation System, Access to Electricity; Access to Finance; Access to Skills, and Access to Markets. A 2015 study on the role of entrepreneurship in economic development based on the dimensions of the Quadruple Helix Model reveals that in the efficiency-driven economies there is homogeneity among the dimensions highlighting only the variables 'R&D transfer' and 'Entrepreneurial Intention'. The results show that in the factor-driven economies, there is a greater influence by the industry, while in the efficiency-driven economies, there is homogeneity among the four dimensions, highlighting only the variables “R&D transfer” and “Entrepreneurial Intention”. Because of the constant need for innovation to become more competitive, in the innovation-driven economies, business and government are the most important dimensions (Baluch & Rambarran, 2018).

without transformation, and export without diversification”. Caribbean Development Bank (CDB), in its May 2018 publication entitled “A Policy Blueprint for Caribbean Economies” has committed to help fast-track, Borrowing Member Countries, BMCs’ development priorities and improve service delivery through country-specific Implementation and Delivery Mechanisms (IDMs). IDMs typically involve: Country Diagnostic that will engage in wide stakeholder consultations with key agencies including cabinet, opposition, private sector, civil society and academia – in a nutshell Quadruple Helix Model . This assessment will inform the scope and scale of the planned intervention; the national key priorities for delivery, the human resource capacity, financial resources and organizational framework. Green Entrepreneurship and MSME development

The world has yet to recover from the 2008 financial crises and at a time of disappointing economic growth and weak global trade and investment, MSMEs and Green Entrepreneurs have emerged as a driving force for more inclusive and prosperous societies. Green Entrepreneurs are called to have a leading role in the transition to International and Regional Developments The progress of Caribbean economies has been widely uneven economies that integrate the environmental capital as an asset for and characterised by “growth without development, adjustment development and that are socially inclusive. Green Entrepreneurs 54

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propose business models that are not only economically profitable but also create an environmental and social positive impact. In summary, Green Entrepreneurs: integrate the environmental, economic & social axis into the core business of the company; provide eco-innovative solutions to the way goods and services are produced, consumed & offered; propose business models whose scaling-up contributes to the greening of the economy; and identify market opportunities inspired from the increasing citizen's shift to new consumption patterns and lifestyles. Fostering these firms’ contributions can ensure that benefits of growth and development are shared more broadly. This calls for a renewed policy focus to level the playing field for MSMEs across all dimensions of the business environment, and in the area of access to finance in particular. The gap in credit costs between MSMEs and large enterprises remains wide. Several challenges continue to limit MSMEs’ uptake of non-bank finance instruments, especially from the capital market. On the demand side, many entrepreneurs lack financial knowledge, strategic vision, resources and in some cases, the willingness to attract sources of finance other than straight debt. On the supply side, potential investors are dissuaded by the opacity of the MSMEs finance market, a lack of investor-ready projects and exit options, as well as persisting regulatory impediments. As a consequence, financial instruments for MSMEs often continue to operate in thin, illiquid markets, with a low number of market participants. MSMEs finance remains high on the policy agenda. Many governments developed new policy initiatives in 2015 and 2016 to ease MSMEs’ access to finance. Credit guarantees remain the most widespread policy instrument and their design is continuously being revised: There is an increased effort to stimulate alternative financing instruments, in particular from the capital market; There are increasing efforts to stimulate Crowdfunding activities, mainly through changes to financial regulation; The trend towards specifically targeting innovative firms with high-growth potential has continued; and financing to MSMEs is increasingly provided in combination with consultancy services. In recent years FinTech has become a frequently used term, referring to companies that provide or facilitate financial services by using technology; they disintermediate formal financial institutions and provide direct products and services to end users, often through online and mobile channels. Guyana, the GCCI & MSME development

Government of Guyana is also committed to MSMEs development; President David Granger has affirmed that Guyana is on “the brink of a micro-enterprise revolution.” The creation of three capital towns at Bartica, Lethem and Mabaruma, along with the pre-existing towns, which are intended to be central business hubs, the President envisions, is a key part of the development of this productive business environment for entrepreneurs. In this emerging context, Georgetown Chamber of Commerce & Industry (GCCI) has an important role to play. When viewed over decades, the work of a well oiled chamber is conspicuous in shaping its community in profound ways. Although the first chamber of commerce founded dates back to 1599 (Marseille, France), these organizations still influence the activity of business environment. The legislative system in Canada, Great Britain, USA, and Eastern Europe provides that membership in a

chamber of commerce is voluntary; so is GCCI’s membership - voluntary. However, In Asian and the rest of the European countries, companies registered on the territory of a country are obliged to become member of one of the county chambers. This principle practiced, for example, in Germany is based on the fact that the chamber of commerce is an organization that provides different and complex services to the business environment. Issuing certificates of origin, approving experts that settles trade dispute through arbitration, giving expertise to state authorities and courts, promoting the business community in the foreign business environment are just some of the reasons due to which German chambers of commerce were able to negotiate their position in the country's legislation. As in France, Germany, and USA, it is also needed a more concrete and viable partnership between state and chamber system, including the granting of certain financial and logistical support from government institutions. Established in 1889, GCCI is the oldest private sector representative organization in Guyana; Chamber’s strength lies in the size and diversity of its membership—both large and small businesses from every sector are represented. GCCI advocates policies; stimulates trade and investment; and strives to attain economic transformation through entrepreneurship and innovation via MSMEs development that ensures inclusive and sustainable economic growth in Guyana. GCCI is leading the push for MSMEs development through long-term solutions; to improve info and infra structure, access to finance, and access to cheaper energy. Chamber advocacy and education efforts serve as a voice of industry for conversations with policymakers. The Chamber believes that Guyanese deserve a working regulatory system that evaluates the effect rules have on jobs and MSMEs and protects our economic and personal freedoms. The local oil and gas debates have been fraught with critiques about how citizens will stand to benefit from the sector and how much will be put aside for future generations. With oil, some of these challenges are likely to be exacerbated. The economy could be exposed to greater volatility once oil production begins. This will put much greater pressure on fiscal monitoring policies to maintain the macroeconomic stability; natural resource discovery is often associated with rapid currency appreciation, which leads to a loss of competitiveness. Extractive Industries Transparency Initiative (EITI) has the potential to deliver significant benefits to the Guyanese economy through increased accountability and transparency, translating into more informed public policy debates and guidance on managing country’s resource endowments; it also has the potential to increase the confidence of business and enhance Guyana’s reputation as a sound investment destination. The key is to gradually build the required capacity to invest in a diversified economy, improved info and infra structure, efficient and effective transportation, reliable energy and education - a good investment that transforms people’s lives. Oil money should be used predominantly for investment rather than for consumption; aimed at lifting people out of the poverty and providing for sustainable prosperity of future generations – surplus should be parked overseas in a Sovereign Wealth Fund.

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ENTREPRENEURSHIP, ACADEMIA & GUYANA’S DEVELOPMENT

Importance of the School of Entrepreneurship & Business Innovation to the Business Community Professor Leyland Lucas Dean Designate, School of Entrepreneurship and Business Innovation, University of Guyana

ver the past few years, there has been significant conversation within Guyana about the importance of Entrepreneurship to future national development. Much of this discussion has been spurred the argument of President David Granger about the future of Guyana and what will be the engine of growth and development. That is, entrepreneurship. While this discussion is ongoing, it is also important to acknowledge that much work needs to be done for growth and development to be achieved. This is not possible through rhetoric but concrete actions. Hence the need for vibrant actions aimed at ensuring that growth and development can be achieved by focusing on entrepreneurship and innovation. Such accomplishments must acknowledge a few facts: one, there continues to be a significant skills deficit, as talented individuals seek employment in other countries; two, historically, there appears to be a significant unwillingness to venture into the unknown, taking risk; three, new industries are bringing new opportunities which will necessitate a new way of thinking for Guyanese; four, at its heart, we are an agricultural, mining, and service-focused economy. Given these conditions, it is important for us to understand that action is urgently needed to ensure that the skills for the future can be acquired in the shortest possible time. The University of Guyana’s School of Entrepreneurship & Business Innovation (SEBI), has a major role to play in preparing Guyana, its businesses, and its populace for the opportunities of the future. Without an educated workforce, these emerging oppor-

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tunities cannot be exploited. This requires that SEBI work closely with the business community to ascertain its skills needs. SEBI must therefore focus on developing a workforce that is entrepreneurial in its thinking, one that can be driven by the desire to take risk. In building that workforce, particular attention must also be paid to addressing the needs of businesses. We must offer degree programs and short courses that are industry-driven. Industry-driven courses will address the specific needs of clients and must be conducted on a manner that provides limited disruption to productivity. These short courses will be targeted to meet the needs of employees at all levels, thereby ensuring that firms can retain talented and highly qualified employees. Likewise, SEBI is committed to helping students build their ‘soft skills.’ Though understanding the rudiments of certain subjects, building human capacity also requires exposure to aspects of business and success that are important. Hence, our students will be required to receive etiquette training, public speaking and presentation skills, all of which are important to business. They will be taught to understand that social interactions to business success. We will also emphasize the need to blend theory with practice. Students must be exposed to meaningful experiences through internships and externships, which allow students to understand how theory may translate into action. Too often, in the past, students have entered the working world with only a theoretical understanding of business. This model is no longer sustainable and must be adjusted. However, these internship and externship opportunities must not only focus on the business community. Some of these opportunities must also be explored in the support areas, which can ensure business success. Exposure within the public sector that can help to bring ‘business-friendly solutions’ to issues will also be important. Academic/public/private partnerships are also essential to promoting new business development. In this respect, SEBI intends to work with the public and private sectors to facilitate the effective development and management of business incubators. These facilities, which are at the heart of innovation and new business formation, must be designed to provide new businesses with the support struc56

tures that are required to emerge and grow. Exposure to faculty and university resources, coupled with the provision of financial guidance and other resources from the private sector will facilitate the new business development process. This model is no different from those which have been adopted in such places as Alberta, Canada; Boston, Massachusetts; New York City; Raleigh, North Carolina; Kingston & Montego Bay, Jamaica; Bridgetown, Barbados, Castries, St. Lucia, and other Caribbean countries. The needs of existing firms to ensure business growth and transformation will also be an essential part of what SEBI does. The school will work with other faculties to meet the needs of businesses in those areas. This is particularly relevant in the agricultural industry, where a shift from raw materials production to the creation of value-added products is essential. Therefore, SEBI will combine its efforts with other faculties to provide the marketing, financing, and other services needed to enter and exploit global markets. Finally, we see SEBI playing a pivotal role in the development of human capacity for business success. Education is vital to the growth and development of any society. It is only by such investments can we achieve future prosperity and a legacy for a future business environment. However, doing so requires a partnership. One that involves the public and private sectors, as well and the University of Guyana. SEBI is committed to developing programs that meet the existing and future needs of the business community, and helping to facilitate economic growth and development. Its programs will continue to be developed through interactions with its partners in the public and private sectors, to ensure that their needs are addressed.

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Q&A from CEOs

Q&A FROM CEOs

Question & Answer with

DR. ROSH KHAN YOUNG BUSINESS EXECUTIVE AWARDEE 2017 Q: What was the experience like receiving the Young Busi- we have since grown into a global agency with a presence in the ness Executive Award from the GCCI? USA, Canada, UK, Australia, and Philippines. With 80% of our

Rosh Khan (RK): Receiving the Young Business Executive Award from the Georgetown Chamber of Commerce & Industry was a humbling experience. Although it was my name that got called to the stage, that honour would not be possible without my incredible team. I’m filled with gratitude for the team effort – both at work and at home. Q: How do you deal with challenges as a young entrepreneur?

clientele based outside of Guyana, I believe the demand for digital services will only continue. This is why we pioneered the annual Digital Wealth Creation Summit in an effort to educate and equip Guyanese for current and emerging opportunities. About two years ago, it became evident that although our innovative marketing strategies were doing wonders for businesses and organizations, in many instances, the internal systems to handle the fruits of the marketing was lacking. So our team launched a modern training firm which has gone on to become the exclusive training center in Guyana for the word-renowned organization, FranklinCovey (the force behind The 7 Habits of Highly Effective People, listed by Time Magazine as ‘the #1 Most Influential Business Book of the Twentieth Century’).

RK: As a young entrepreneur, I believe that despite the numerous challenges, knowing my purpose is paramount. I often say that ‘business must be about profits but profits must have a purpose’ because with purpose, one can take intentional action and be ferociously committed to the mission at hand – regardless of how many times one stumbles or falls. I see these challenges as gifts – incredible Q: What are the future plans for your companies? opportunities for growth. RK: Our immediate plans for the future are to fortify our companies’ by creating more value in more corners of the globe. SocialQ: What has the recognition from receiving this award Rank Media is gearing up for a big announcement, the Masterclass meant to your businesses? Institute is in its final planning stages for regional launches, and we RK: The recognition gained from receiving this award has also are preparing for a new company launch. I’m also few months away had a tremendous impact on my two businesses, SocialRank Media from releasing my first book, The New Caribbean Entrepreneur – A (Guyana’s #1 Digital Marketing Firm) and the Masterclass Institute Modern Blueprint For Business Success which will focus on the role (Guyana’s Approved Covey Leadership Center). It highlighted the of technology in entrepreneurship, how our current digital reality is international quality of our products and services and has been didisrupting commerce, and how entrepreneurs can leverage the uprectly responsible for new local and regional partnerships. coming trends and opportunities. Q: Tell us a little about your companies

RK: My first company, SocialRank Media, started out with humble beginnings – a laptop and internet connection. Over the years, 60

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Rosh Khan delivering his feature at the Digital Wealth Creation Summit Q: What would you say to young entrepreneurs about the future of Guyana and doing business here?

RK: Looking ahead, I believe Guyana is on the precipice of incredible economic growth. I notice many entrepreneurs voicing their concerns about the current state of the economy and while I understand their perspectives, I also believe this is an opportunity to be agile and to pivot accordingly to meet market demands. In the not-too-distant-future, there will be a surge of needs in a variety of verticals – many of which Guyana is currently unprepared to serve. For those entrepreneurs who will like to leverage these opportunities, I would advise the following: • Join business support organizations and associations (i.e., Georgetown Chamber of Commerce & Industry) • Study the effect of oil discovery and production in other countries • Pay keen attention to trends and emerging market demands • Analyze economic lead measures (i.e., migration, local and foreign investments) • Effectively use the next 12 – 24 months to prepare and position accordingly I believe Guyana will see the rise of a new entrepreneurial class over the next five to ten years. As my team often shares with the young entrepreneurs, “You can either watch it happen or you can make it happen. The choice is yours.”

December 13th Gala Award for Young Business Executive Rosh Khan - Rosh Khan receiving his award for Young Business Executive of 2017 G U YA N A O N T H E R I S E | B U S I N E S S G U YA N A

Q&A FROM CEOs

Question & Answer with

Mr. Komal Samaroo – Chairman of Demerara Distiller Limited (DDL) Q: You have been a pillar in the private sector for an extended period of time. What principle has kept your longevity in the private sector?

Komal Samaroo (KS): The Private Sector provides an opportunity for professionals to impact on society and make a difference in the lives of persons in particular and society in general. I have been fortunate to have had the opportunity of working in a very enabling environment where my views mattered and my initiatives for growth and improvement supported by colleagues and seniors. Q: What or who would you recount as being your great inspiration in life?

KS: Most definitely my parents. They were very poor and humble working class people who had dreams for themselves and their eight children and they were prepared and determined to work extraordinarily hard and make sacrifices to realise those dreams. They saw education and the means out of poverty and pushed us and spent every cent they could have afforded on education for their children. Even though they are not in this world, I live every day energised by their values and aspirations for a better life in the future.

secret is to use every situation of failure and disappointment to elevate your game, to become more determined, and to find a new and better way of doing things to achieve one's goal. Failure must be a catalyst for, rather than a deterrent to, greater success. Q. What advice would you give to young entrepreneurs in Guyana?

KS: Do not expect the road ahead to be easy. Prepare for the challenges ahead by equipping yourself with information and knowlQ: Failures and disappointments are inevitable in doing edge, and always have a contingency plan just in case your present business. How do you deal with them? strategy is not successful. It is better to be over-prepared rather than KS: Failures and disappointments are inevitable in life, but the being under-prepared.

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Q&A FROM CEOs Q: Without revealing company secrets or plans, what is the general direction for DDL over the next 10 years?

KS: DDL's strategy is based on (a) Diversification, (b) Maximising Value from existing operations, and (c) using international best practices, and modern techniques to be the most efficient at what we do. Several projects are in the pipe-line in pursuance of the company's strategic objectives in the next few years. Q: What impact do you see the Oil & Gas sector having on DDL's operations and how do you plan to deal with them?

KS: The Oil & Gas sector will very significantly grow Guyana's economy way beyond anything we have seen in our life time. Existing businesses in Guyana should therefore be proactively updating their business plans to take advantage of this new reality rather than sit back and wait to be reactive when it is too late. Q: What do you think is the number one factor constraining business growth in Guyana?

KS: I believe that the number one constraint to business growth is the human capacity in the technical and managerial areas. I believe that we need to undertake massive training and re-training on a national scale.

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Trade, Regional Features & Foreign Relations

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Trade, Regional Features & Foreign Relations

Trade Facilitation, Partnerships & Joint Ventures

President of the GCCI, Mr. Deodat Indar & Mr. Orlando Hernandez Guillen, President of the Chamber of Commerce of the Republic of Cuba

A new approach to business in Guyana being promoted by the GCCI

By Timothy Tucker, Chairperson – Trade & Investment Committee of the GCCI & Richard Rambarran – Executive Director of the GCCI

uyana is about to enter a ‘new age’ and there are great expectations from the bourgeoning oil and gas industry. It is Mr. Keiran Hanley, Executive Director of NEIA and Mr. Deodat Indar, President of GCCI certainly true that a cultural transformation in the ethos of doing business in afoot in Guyana. Realising that Guyanese would be behind in the learning curve in this industry, under the visionary leadership of the Mr. Deodat Indar, President of the Georgetown Chamber of Commerce & Industry (GCCI), the Chamber has embarked on a set of deliberate and concerted efforts to promote strategic partnerships, joint ventures and trade facilitation in and around the oil industry.

International Linkages

Acting on this vision for a bolstered private sector which is aided by partnerships and joint ventures, the President of the GCCI set out on a mission in late 2017 to increase the international linkages of the GCCI. It was at the Havana International Trade Fair (FIHAV) in November 2017, that the first Memorandum of Understanding (MoU) was inked with the Chamber of Commerce of the Republic of Cuba. The intent of the MoU is to improve and deepen structured trade, investment relations and the development of projects between Guyana and Cuba - especially in the areas of oil and gas and Information and Mr. Ganesh Kumar Gupta, President of FIEO and President Communication Technology (ICT) Training. of the GCCI, Mr. Deodat Indar at signing in Havana, Cuba G U YA N A O N T H E R I S E | B U S I N E S S G U YA N A

NEIA & GCCI Team in Newfoundland & Labrador, Canada

Subsequently, at the FIHAV, the President also inked another MoU with the the Federation of Indian Export Organisations (FIEO), with the same intent. However, the scope was expanded beyond oil and gas and ICT, to include renewable energy, pharmaceuticals, tourism, agro-processing, film industry. The valiant efforts of the

President continued as he and a senior team from the private sector visited Newfoundland and Labrador in Canada. Here, the opportunity was taken to sign another MoU with the Newfoundland and Labrador Environmental Industry Association (NEIA). The intent remaining deepening structured trade and promoting investment, this MoU focused on the areas of clean technology, environment and the green economy, complimenting the global and national efforts towards environmental sustainability in economic growth. Activating the MoUs - Trade Facilitation Councils

Realising that a mechanism was needed to activate the MoUs, the GCCI began to explore the opportunity of establishing Trade Facilitation Councils (TFCs). Currently, the Chamber is exploring the launching of three (3) TFCs to ensure that the MoUs realize benefit for its members, the private sector and Guyanaâ&#x20AC;&#x2122;s development at large. These Trade Facilitation Councils will be multi-stakeholder, comprising of representatives from the Georgetown Chamber of Commerce & Industry who will be the chairperson of the TFC, the Ministry of Foreign Affairs, Ministry of Business, the Bar Association of Guyana, the Canadian High Commission, the Guyana Manufacturing & Services Association (GMSA) and the Guyana Office for Investment (GO-INVEST). The scope of work of the Trade Facilitation Council is, in a general sense, to promote and facilitate structured trade and investment between Guyana and the countries. It is envisioned that the Councils will achieve this objective and activate the MoUs through: 1. Regularly exchanging market information; 2. Promoting access to commercial bulletins, electronic handshakes, networking; Executive Director of GCCI Mr. Richard Rambarran and the 3. Planning and supporting the organization of trade and other Cuban Ambassador HE Narciso Socorro exchange visits; 68

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Guyana Oil & Gas Service and Concept and Designs Team at GIPEX Launching

4. Promoting participation in trade fairs, exhibitions, seminars, symposiums etc; 5. Organising meetings, seminars, workshops etc. to promote investment opportunities, business ventures, possible joint ventures and other relevant activities 6. Match making forums for partnerships and development of businesses on both sides 7. To amicably resolve any disputes or misunderstandings which may arise with trade between the respective countries These Councils will be launched before the end of the third quarter of 2018 having received commitments from the Minister of Business Honourable Dominic Gaskin and the Ambassadors of the respective countries. Partnerships & Joint Ventures

Guyana remains open to foreign investors – especially in the oil and gas industry PAL Aerospace and Roraima at the partnership signing where the experience of these companies can be seen as a valuable resource to GuyAirways, a locally-owned and operated company, with PAL Aeroana’s development. However, the Chamber has been on public space - a diversified international aerospace and defence company record as being supportive of foreign investors and welcoming all headquartered in Canada with over four decades of operations. foreign companies to Guyana. In this regard, we believe that there Many other members of the Chamber are also engaging in is tremendous merit in partnering with a local company including joint ventures and partnerships with foreign companies including understanding Guyanese culture and what is being termed as the the Guyana Oil & Gas Services partnering with foreign-owned ‘social license’ to operate. Concepts & Designs, Pandora Energy which entered into a joint Many companies have been successful in partnering in the venture partnership with Coastal Safety Management Inc. and oil and gas industry and its periphery services. A most recent Safe Work Solutions Inc. of Canada, School of the Nations and a development in this regard has been the partnering of Roraima Canadian company, Learn Corps, amongst many others. G U YA N A O N T H E R I S E | B U S I N E S S G U YA N A

Trade, Regional Features & Foreign Relations

Regional Feature of the Chamber: In Guyana, a golden opportunity to reduce poverty through agriculture

But why honey? Guyana’s apicultural industry is currently producing 11,300 gallons of the golden nectar annually, and by-products such as bees’ wax, pollen and royal jelly also contribute to the country’s gross domestic product (GDP). Demand is, however, greater than supply and Guyana imports over 4,000 gallons from markets such as Jamaica and the United States each year to make up the shortfall. Imported honey is expensive, retailing at almost USD1.00 more than locally produced bottles. The solution, say officials, is to train more beekeepers. “After eight years of growth, commodity prices collapsed for our major exports. But agriculture and natural resources remain significant sources of economic activity, and we are seeking alternative exports, honey being one, that not only grow GDP, but also adhere to our country’s Low Carbon Development Strategy, which promotes the vision of producing economic development while addressing climate change,”said Eusi Evelyn, Caribbean Technological Consultancy Services (CTCS) Network Project Liaison Officer, GCCI, Guyana.

Caribbean Development Bank

There’s a new buzz in Guyana, which could help the government attain its development goals, and may boost entrepreneurship. Known in the agricultural sector for its sugar and rice, the Government of Guyana, with support from the Caribbean Development Bank (CDB), is aiming to add honey to the list, and in the process, provide a sustainable pathway out of poverty for Guyanese. Having wrapped up five days of training at the end of 2017, 25 new beekeepers have charged into the New Year eager about their prospects-some of them youth, launching businesses for the first time, some women, excited about the financial independence the industry can bring. “I’ve always wanted to pursue an avenue that can help to supplement my family income, but was constrained by the lack of jobs in the area, having children to look after, and not having a skill I can utilise at home to earn,” said Sharon Butts, an unemployed, stay-athome mother who participated in the workshop. The course opened her eyes, she said, to the fact that she can use land resources her family already possesses to earn an income. Now Sharon has big plans for using her new skill, including establishing a small apiary. “I will also work along with others who trained from my area to start a small beekeeping group and a honey house to be used for processing,” she said. “It is my dream to grow from a small apiary to one my family and I can eventually develop and pass on for generations to come.” 70

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Eusi Evelyn

The project aligns with CDB’s commitment to enhancing the managerial, technical and operational capacity of micro, small and medium-sized enterprises (MSMEs) in the Bank’s Borrowing Member Countries. CTCS-funded the workshop, which targeted vulnerable groups at risk for lower participation in available economic activities, including Amerindian communities, youth, women and people with disabilities. “The technical assistance support CTCS provided is particularly worthwhile, given that beekeeping can be undertaken by the landless, requires limited infrastructure, and is an attractive venture for

Participants learn, during a training session, how to safely remove honey from hives

unemployed people,” said Lisa Harding, MSME Coordinator, Technical Cooperation Division, CDB. “There is also great nutritional value in beehive products, and the potential for sustaining biodiversity, resulting in environmental stability is far-reaching,” she said. “The training activities will also position some MSMEs to transition A young workshop participant from small-scale operations samples fresh honey from a to large volume production, hive. and take advantage of export opportunities when they arise.” CTCS facilitates the transfer of knowledge and skills within the private sector by linking people who have business and technical experience with businesses that need consulting advice and assistance. Some technical and marketing skills required for managing an apiary, and taught during the sessions included: fundamentals of starting an apiary, types of bee hives, conditions under which honey bee colonies thrive, harvesting techniques, and packaging and labeling techniques.

Sharon, left, returns from the apiary with other workshop participants after a honey extraction exercise G U YA N A O N T H E R I S E | B U S I N E S S G U YA N A

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Contacts & Useful Information

CONTACT INFO & USEFUL INFORMATION

BUSINESS CONTACTS PRIVATE SECTOR ORGANISATIONS

Berbice Chamber of Commerce and Development

12 Chapel Street, New Amsterdam, Berbice. Tel: 592-333-3324 Umbrella organization for most private sector business and employer organizations. Most major compa- Email: wbcic2015@gmail.com nies are also members. Linden Chamber of Industry and Commerce 157 Waterloo Street, North Cummingsburg, 84 Riverside Drive, Watooka, Linden. Georgetown. Tel: 444-2901 Tel: 592-225-0977 Fax: 592-225-0978 Email: office@psc.org.gy Website: www.psc.org.gy

Private Sector Commission

Forest Products Association of Guyana 157 Waterloo Street, North Cummingsburg, Georgetown Tel: 592 226-9848 Fax: 592-226-2832 Email: fpasect@guyana.net.gy

Guyana Manufacturers’ & Services Association

157 Waterloo Street, North Cummingsburg, Georgetown Tel: 592-223-7405-6 Fax: 592-225-5615 Email: gmsaguyanaltd@gmail.com Website: www.gma.org.gy

Guyana Rice Producers’ Association

Public Road, Crane, West Coast Demerara. Tel: 254-2012/13

Institute of Private Enterprise Development 253 South Road, Bourda, Georgetown. Tel: 592-225-8949, 225-64675 Fax: 592 223 7834 Email: iped@ipedgy.com Website. www.ipedgy.com

Tourism & Hospitality Association of Guyana

Rupununi Chamber of Commerce and Industry

Block ‘A’ Takatu Drive, Lethem, Rupununi, Region 9 Tel: 592-772-2213 Email: rupununircci@yahoo.com, rupununircci@hotmail. com

Upper Corentyne Chamber of Commerce & Industry 157 Line Path ‘B’ Corriverton, Berbice. Tel: 592-339-2935 Fax: 592-335-3738 Email: uccci.chamber@gmail.com

Central Corentyne Chamber of Commerce

65 A Public Road, Rose Hall Town, Corentyne, Berbice. Tel: 592-337-4778; 592-337-5120 Email: central_chamber@yahoo.com

West Demerara/East Bank Essequibo & Islands Chamber of Commerce and Industry

Ocean View Dr. Ruimzeight, West Coast Demerara. Tel: 592-269 0020; 592-269-0030 Fax: 592-269-0022 Email: sase_shewnarain@hotmail.com, rose.ramdhan88@ gmail.com

157 Waterloo Street, North Cummingsburg, BUSINESS ORGANIZATIONS Georgetown. Tel: 592-225-0807 Fax: 592-225-0817 Consultative Association of Guyanese Email: thag.secretariat@gmail.com/ info@exploreguyana. Industry org 157 Waterloo Street, North Cummingsburg, Website: www.exploreguyana.org Georgetown. Telephone# 592-226-4603; 592-225-7170 Fax: 592-227-0725 Email: ramchancagi@aol.net.gy/ CHAMBERS OF COMMERCE goolsarancagi@gol.net.gy

Georgetown Chamber of Commerce and Industry

156 Waterloo Street, North Cummingsburg, Georgetown. Tel: 592-227-6441; 225-5846; 592-226-3519 Email: gccicommerce2009@gmail.com Website: www.gcci.gy

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GOVERNMENT OFFICES & AGENCIES Ministry of Business (with Responsibility for Tourism)

229 South Road, Lacytown, Georgetown Tel: 592-225-8949 Hotlines: Small Business & Consumer Affairs: 225-0665 Commerce: 225-2280; 225-6011; Licensing: 227-2718 Email: info@minbusiness.gov.gy

Ministry of Foreign Affairs

Takuba Lodge 254 South Road & Shiv Chanderpaul Drive Georgetown, Guyana Tel: 592-226-9080 Fax: 592-223-5241 Email: minister@minfor.gov.gy

Guyana Office for Investment (GO-INVEST) 190 Camp & Church Streets, Georgetown. Tel: 592-227 0653 Fax: 592 225 0655 E-mail: goinvest@goinvest.gov.gy Website: www.goinvest.gov.gy

Guyana Rice Development Board

117 Cowan Street, Kingston, Georgetown. Tel: 592-225-8717 Fax: 592 225 6486 Email: singhjagnarine@gmail.com

Guyana Tourism Authority

National Exhibition Centre, Sophia, Georgetown. Telephone: 592-219-0094/6 Fax: 592-219-0093 Email: info@guyana-tourism.com Website: www.guyana-tourism.com

REGIONAL ORGANISATIONS Caribbean Community Secretariat (CARICOM) P.O. Box 10827, Turkeyen, Greater Georgetown. Tel: 592-222-0001/75 Fax: 222 0171 Email: piu@caircom.org/ caricompublicinfo@gmail.com Website: www.caricom.org

INTERNATIONAL ORGANISATIONS The World Bank

87 Carmichael Street, South Cummingsburg, Georgetown, Guyana Tel: 592-233-5036 Email: gmcdaniel@worldbank.org

Inter-American Development Bank (IDB)

47 High Street, Kingston, Georgetown, Guyana Tel: 592-225-7951 Fax: 592-225-7951 Email: IDBGuyana@iadb.org

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Guyana Overseas Missions BARBADOS

CHINA, PEOPLE’S REPUBLIC OF

BELGIUM

CUBA, REPUBLIC OF

Consul General Consulate General of the Cooperative Republic of Guyana Sefton Lodge Britton’s Cross Road St. Michael, BB14002 Barbados Phone: 246-228-2767; 246-426-1708 Fax: 246-228-3123; 246-228-3083 Email: guyanaconsulategeneralbarbados@gmail.com

Embassy of the Cooperative Republic of Guyana 3rd Floor Boulevard Brand Whitlock 114 1200 Brussels Belgium Phone: 322-675-6216 Fax: 322-672-5598 Email: info@embassyofguyana.be Website: http://www.embassyofguyana.be For Visa and other Consular Inquiries contact: consular@ embassyofguyana.be For Trade related matters contact: trade@embassyofguyana.be

BRAZIL, Federative Republic of (Boa Vista)

H.E. Shirley Melville Consul General Consulate of the Cooperative Republic of Guyana Rua Joao Pereira Caldas 71-Nossa Senhora Aparecida CEP: 69.306-450 CNPJ 05.870.492/001-90 Boa Vista-Roraima Phone: 001-55-95-3624-1129, 001-55-95-8123-4219 Fax: Email: guyanaconsulatebrazil@hotmail.com

H.E Bayney Karran Ambassador Embassy of the Cooperative Republic of Guyana No. 1 Xiu Shui Dong Jie Jian Guo Men Wai Beijing 100600 China Phone: 8610-6532-1601 Fax: 8610-6532-5741 Email: admin@guyanaembassybeijing.cn

H.E. Abdool Halim Majeed Ambassador Embassy of the Cooperative Republic of Guyana Calle 18, No. 506 Entre 5ta y 7ma Miramar Havana Cuba Phone: 537-204-2094 Fax: 537-204-2867 Email: geh@mission.gov.gy Website: http://www.guyanaembassycuba.com

INDIA, REPUBLIC OF

H.E Dr. David G. Pollard High Commissioner High Commission for the Cooperative Republic of Guyana E-7/19 Vasant Vihar New Delhi – 110057 India Phone: 9111-4166-9717/8, 9111-4166-9715 or 4166-9716 Fax: 9111-4166-9714 Email: hcomm_ind@mission.gov.gy

SURINAME

H.E. Keith George Ambassador CANADA Embassy of the Cooperative Republic of Guyana Ms. Candida Daniels Henck Arronstraat No. 82 Consul General (ag.) P. O. Box 785 Consulate General of the Cooperative Republic of Guyana Paramaribo 505 Consumers Road Suriname Suite 206 Phone: 597 - 477 – 895; 597 - 472 - 509 Willowdale Fax: 597 - 472 – 679 Ontario M2J 4V8 Email: gep@mission.gov.gy Canada Phone: 416-494-6040; 416-494-6059; 416-494-2679 Fax: 416-494-1530 Email: info@guyanaconsulate.com

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TRINIDAD & TOBAGO

H.E. Mr Bishwaishwar Ramsaroop-Maraj High Commissioner High Commission for the Cooperative Republic of Guyana No. 12 Alexandra Street St. Clair Port of Spain Trinidad & Tobago Phone: 868 622 2913 Fax: 868 628 2616 Email: ghctt@mission.gov.gy

UNITED KINGDOM

H.E. Frederick Hamley Case High Commissioner High Commission for the Cooperative Republic of Guyana 3 Palace Court Bayswater Road, London W2 4LP England Phone: 44 - 207 – 229 -7684 Fax: 44 - 207 - 727 - 9809 Email: guyanahc1@btconnect.com Website: http://www.guyanahclondon.co.uk

PERMANENT MISSION TO THE UN

Head of Mission Photo PERMANENT MISSION TO THE UNITED NATIONS H.E. Rudolph Michael Ten-Pow Permanent Representative Permanent Mission of the Cooperative Republic of Guyana to the UN 801 Second Avenue, Fifth Floor New York New York 10017 USA Phone: 212 573 5828 Fax: 212 573 6225 Email: guyana@un.int

UNITED STATES OF AMERICA (WASHINGTON DC)

H.E Dr Riyad Insanally Ambassador Ambassador Embassy of the Cooperative Republic of Guyana 2490 Tracy Place, N. W. Washington, D.C., 20008 USA Phone: +1 - 202 - 265 – 3834; +1- 202 - 265 – 6900; +1 – 202 328 - 1567 Fax: +1 - 202 - 232 -1297 Email: guyanaembassydc@verizon.net

UNITED STATES OF AMERICA (NEW YORK)

Mrs. Barbara Atherly Consul General Consulate General of the Cooperative Republic of Guyana 308 West 38 Street 8-9 Avenue New York NY 10018, USA Phone: 212 - 947 – 5115-6; 947 – 5110-9 Fax: 646 915 0237 Email: cgny@guyanaconsulatenewyork.org

VENEZUELA

H.E. Mrs Marilyn Cheryl Miles Ambassador Embassy of the Cooperative Republic of Guyana Quinta Los Tutis Segunda Avenida entre Novena y Decima Transversal Urbanizacion Altamira, Municipio Chacao Caracas Venezuela Phone: 58-212-267-7095; 58-212-261-7745 Fax: 58-212-976-3765 Email: embguyccs@gmail.com

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CONTACT INFO & USEFUL INFORMATION

Where to stay Marriott Guyana Hotel

Status International Hotel

Brandsville

The Opus

Opus International Hotel

El Dorado Inn

Pegasus Hotel

Millenium Manor

Roraima Duke Lodge

Ocean Spray International Hotel

Tower Suites

Park Vue Hotel

Sleepin Guest House, Bar & Car Rental

Regency Suites

Herdmanston Lodge

Roraima Residence Inn

Grand Coastal Hotel

Kanuku Suites

Cara Lodge

Splashmins Resort

Ramada Georgetown Princess Hotel

Arrowpoint Resort

King Plaza Hotel

Baganara Island Resort

Block Alpha, Kingston Tel: 231-2480

88-90 Pike Street, Section M, C/ville Tel: 226-1133 48 Croal Street Tel: 223-0264

Sea Wall Road, Kingston Tel: 225-2853 94-95 Duke Street, Kingston Tel: 231-7220 74-75 Main Street, Georgetown Tel: 592-231-4728/9, 592-225-2222 151 Church Street, Georgetown Tel: (592) 231 7667

65 Peter Rose & Anira Street, Queenstown Tel: 225-0808 1 & 2 Le Ressouvenir Tel: 220-1091

294 Quamina Street, Georgetown Tel: 225-5301 Track B, Block Z Providence Tel: 265-7001/3/4/6/7/8/9 45 Main Street, Georgetown Tel: (592) 225 7775

Sleep Inn International Hotel 24 Brickdam, Stabroek, Georgetown Tel: (592) 227 3446 84

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Croal Street & Sandyman Place, Georgetown Tel: (592) 227 7606 48 Croal Street, Georgetown Tel: (592) 223 0301 295 Thomas & Quamina Streets, Georgetown Tel: (592) 225 3966 43 Hadfield Street, Georgetown Tel: (592) 223 0541 46 Stanley Place, Kitty, Georgetown Tel: (592) 227 3765

32 Track ‘A’, Farm, East Bank Demerara Tel: (592) 265 0058 98 Hadfield Street, Georgetown Tel: (592) 226 0550 R 8 Eping Avenue, Bel Air Park, Georgetown Tel: (592) 225 9648 123 Section M Campbellville, Georgetown Tel +592 226 4001 Linden Soesdyke Highway Tel: 223 7301 94 Duke Street, Kingston Tel: 231-7220 Evergreen Adventures, Ogle Int’l Airport Tel: 222-2525 222-8053

CONTACT INFO & USEFUL INFORMATION

Where to Eat The New Thriving Restaurant

Bistro

Aagman Indian Restaurant

The New Palm Court Yard & Bar

Antonio’s Grille

Brazil Churascaria & Pizzaria

Aroma’s Café / El Dorado Restaurant

Xie Xie Restaurant

Bottle Bar And Restaurant - Cara Lodge

OMG Restaurant

CAFE TEPUY - Roraima Residence Inn

Maggie’s Snackette

TERRA MARE RESTAURANT

Windjammer International Cuisine

32 Main Street Tel: 225-0868, 225-0195

Top floor, 28 A Sheriff Street, Campbellville Tel: 219-0161 172 Sheriff Street, C/ville Tel: 225-7933 Pegasus Hotel, Seawall Road Tel: 592 225 2853 Fax: 592 225 3703

294 Quamina Street, P.O. Box 10833, Georgetown Tel: 592 225 5301-5 R8 Eping Avenue, Bel Air Park, Georgetown Tel: 592 225 9647-8, 225 9650 Guyana Marriott Hotel Block Alpha, Battery Road, Kingston Tel: 592 231 2480, 231 1870

Sucre Restaurant

65 Peter Rose & Anira Streets, Queenstown, Tel: 592 225 0808

TEPPANYAKI RESTAURANT

176 Middle & Waterloo Streets, Georgetown Tel: (592) 226 1612 35 Main Street, Georgetown Tel: (592) 227 008/9

208 Alexander Street, Lacytown, G/town T: 592 225 6037 159 Barr & Alexander Street, Kitty Tel: 225-7769 Sheriff Street & Campbell Avenue Tel: 227-8839/40 224 New Market Street Tel: 592 226 2226

27 Queen Street, Kitty, Georgetown Tel: 592 227-7478, 226-3407, 231-7044

Java Coffee Bar

Sharon’s Mall, King & Charlotte Streets, Giftland Mall, Turkeyen, T: 222-7317 80 Duncan Street, C/Ville – T: 227-0772 Tel: 681-JAVA (5282)

Ramada Georgetown Princess Hotel Providence, East Bank Demerara Tel: 592 265 7003-4,265 7006-10

The Boardroom 313

Oasis Café

The Strip Restaurant & Bar

125 Carmichael Street, Georgetown Tel: (592) 226 9916, (592) 227 0121/2

German’s Restaurant

Lot 8 New Market & Mundy Sts, Georgetown Tel: (592) 225 3972 | (592) 227 0079

Giftland Mall, Turkeyen Tel: 222 7375 Giftland Mall, Turkeyen Tel: 222 7378

Petit Four

Lot 160 Waterloo Street, Georgetown Tel: 227 8812

Maharaja Palace Restaurant 207 Sheriff St., G\town, Guyana Tel: (592) 219 4346

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Membership list

Membership list at the 128th Annual General Meeting at end March 2018 1. A&S Enterprise 5 ‘C’ New Road Vreed-en-Hoop West Coast Demerara Guyana Telephone: 592-254-2015 2. A+ COMPUTER TRAINNING CENTER 25 New Road Vreed-en-Hoop West Coast Demerara Guyana Telephone: 592-254-0426 3. ABDOOL & ABDOOL INC. 11 Avenue of the Republic Georgetown Guyana Telephone: 592 226-9094; 225-3985 Fax: 592-225-8911 4. ACH INC. 37 Austin Street Campbellville Georgetown Guyana Telephone: 592-227-7690 5. AMAZON CARIBBEAN V1 V2 Houston East Bank Demerara Guyana Telephone: 592 226-2828; 592 226-5238 Fax: 592-226-9883 6. ANSA McAL TRADING LIMITED (GUYANA) 60 Beterverwagting East Coast Demerara Georgetown Guyana Telephone: 592 220-0455 Fax 592-220-0796 7. ARUWAI ENTERPRISE INC 13 A Public Road, Huston East Bank Demerara Georgetown Guyana Telephone: 592- 223-2097; 592-227-1987 Fax: 592-223-2091

8. ASSURIA GENERAL (GY) INC. 18 Church Street South Cummingburg Georgetown Guyana Telephone: 592-226-7052; 592226-7074 Fax: 592-226-7123 9. ATLANTIC HOTEL INC. Alpha Block Kingston Georgetown Guyana Telephone: 592-231-1642 10. ATLANTIC MINING SUPPLIES Lot C Public Road Eccles East Bank Demerara Guyana Telephone: 592233-2554; 592-233-2551 11. AUSTIN’S BOOK STORE 190 Church Street Georgetown Guyana Telephone: 592 226-7350/7 Fax: 592-227-7396 12. B. BHAICHANDEEN LIMITED Church Street Georgetown Guyana Telephone: 592-225-6361 Fax: 592-227-4480 13. B.E.V PROCESSORS INC. Area ‘K’ Houston East Bank Demerara Guyana Telephone: 592 225-2111; 592-226-5738 Fax: 592-225-0015 14. BANK OF NOVA SCOTIA 65 Robb Street Georgetown Guyana Telephone: 592-225-9222 (226); 223-6096 (268) Fax: 592-225-9309 15. BANKS DIH LIMITED Thirst Park Ruimveldt Georgetown

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Guyana Telephone: 592-225-0910 Fax: 592-226-6523 16. BEHARRY AUTOMOTIVE LIMITED 191 Wellington & Charlotte Street Georgetown Guyana Telephone: 592-227-2526; 592-227-1349 Fax: 592-225-0956 17. BIG V ENTERPRISES 61 Zinnia Avenue Bel Air Park Georgetown Guyana Telephone: 592-226-8362 Fax: 592-227-3692 18. BRAINSTREET GROUP 287 C Albert Street Queenstown Georgetown Guyana Telephone: 592-225-5353 19. BRANDERZ GUYANA 254 Thomas Street South Cummingsburg Georgetown Guyana Telephone: 592-223-5172 20. CALIFORNIA STUCCO GUYANA INC 96 Bonasika & Sheriff Street Campbellville Georgetown Guyana Telephone: 592-225-5254 21. CAMEX RESTAURANTS INC. Parade Street FedEx Building Georgetown Guyana Telephone: 592-231-8769; 592-231-2243 Fax: 592-231-8768

Membership list 22. CAR CARE ENTERPRISE 43 Hadfield Street Stabroek Georgetown Guyana Telephone: 592-225-6888; 592-226-6162 Fax: 592-227-6136 23. CARIBBEAN CHEMICALS (GUYANA) LIMITED 45 Croal Street Stabroek Georgetown Guyana Telephone: 592-225-4178; 592-225-9639 Fax: 592-226-8935 24. CARIBBEAN CONTAINER INC. Public Road Farm East Bank Demerara Guyana Telephone: 592-265-4224, 592-265-4240 Fax: 592-265-4251 25. CARIBBEAN INTERNATIONAL DISTRIBUTORS INC. Lot D Rome Street Mc Doom East Bank Demerara Guyana Telephone: 592-233-0867; 592-233-0911 Fax: 592-223-0912 26. CARIBBEAN SURGERY INC. 270 Thomas Street North Cummingsburg Georgetown Guyana Telephone: 592-227-2030 27. CARIBBEAN VENDING/ TIC DISTRIBUTORS 62 Craig Street Campbellville Georgetown Guyana Telephone: 592-615-6666 28. CERULEAN Inc. 14 B LeSovenir Park East Coast Demerara Guyana Telephone: 592-674-0469 29. CEVONS WASTE MANAGEMENT INC. 573 Toucan Drive South Ruimveldt Gardens Georgetown Guyana Telephone: 592-218-1156; 592-5105

30. CHATERAM RAMDIHAL, CHARTERED ACCOUNTANTS, PROFFESSIONAL SERVICE FIRM 128 ‘A’ Carmichael Street South Cummingburg Georgetown Guyana Telephone: 592-223-2660 31. CHINA TRADING 32 Robb Street Lacytown Georgetown Guyana Telephone: 592-231-5878; 592-690-3575 Fax: 592-226-3778 32. CHRISTIAN FRIENDSHIP INTERNATIONAL 724 Kuru Kururu Soesdyke Linden Highway Guyana Telephone: 592-261-6050 33. CLASS & ELEGANCE 399-400 King Street Republic Park East Bank Demerara Guyana Telephone: 592-233-6684 34. COMFORT SLEEP 49 Eccles Industrial Estate East Bank Demerara Guyana Telephone: 592-223-3013; 233-3024; 592-233-2657 35. COMPUTRAIN BUSINESS SERVICE SOLUTIONS 87 C Barrack Street Kingston Georgetown Guyana Telephone: 592-226-7712 36. CORUM DISTRIBUTION 141 Camp & Regent Street Georgetown Guyana Telephone: 592-223-4313 Fax: 592-226-8859 37. CREDITINFO (GUYANA) INC. 267 New Market Street Georgetown Guyana Telephone: 592-227-7005; 592-227-7009

38. CUMMINGS WOOD PRODUCTS 1-2 Caledonia East Bank Demerara Guyana Telephone: 592-261-6400/1 39. CURTAINS & DRAPERY DESIGNS 110 Regent Road Bourda Georgetown Guyana Telephone: 592-225-2224 40. D & J SHIPPING SERVICE 61 Fifth Street Alberttown Georgetown Guyana Telephone: 592-223-6056 Fax: 592-223-8479 41. DABI'S VARIETY 40 Robb Street Bourda Georgetown Guyana Telephone: 592-231-2002; 592-226-7723 Fax: 592-225-6309 42. DAPPER TECHNOLOGY 140 'B' Quamina Street South Cummingburg Georgetown Guyana Telephone: 592-231-0044 43. DAVID YHANN & SONS CO. LIMITED 76-77 Robb Street Lacytown Georgetown Guyana Telephone: 592-225-3945 44. Decy’s School of Design & Dress Making 691 7th Street Dazzel Housing Scheme Paradise East Bank Demerara Guyana Telephone: 592-223-8854 45. DEMERARA BAKERY Block G1 Land of Canaan East Bank Demerara Guyana Telephone: 226-5845

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Membership list 46. DEMERARA SHIPPING COMPANY LIMITED 6-12 Water & Schumaker Streets Georgetown Guyana Telephone: 592-225-1900; 592-225-1902 Fax: 592-225-9512

592-223-3770

47. DEMERARA TOBACCO COMPANY LIMITED 90 Carmichael Street South Cummingsburg Georgetown Guyana Telephone: 592-225-1900; 592-225-1902 Fax: 592-226-9322

55. EMPORIUM INVESTMENTS BUREAU INC 17 Brackdam & Sendall Place Stabroek Georgetown Guyana Telephone: 592-226-9507

48. DENMOR GARMENTS MANUFACTURERS INC. 7-9 Coldingen Industrial Estate East Coast Demerara Guyana Telephone: 592-270-4513; 592-270-4516 Fax: 592-270-4500 49. DESINCO TRADING COMPANY LIMITED 48 John & Sheriff Street Georgetown Guyana Telephone: 592-226-7109; 592-226-180 Fax: 592-227-6008 50. DIGITAL TECHNOLOGY 20 Public Road Diamond East Bank Demerara Guyana Telephone: 592-265-2932/3 Fax: 592-265-2933 51. DILIP'S VARIETY STORE 7-9 Avenue of the Republic Georgetown Guyana Telephone: 592-225-8123; 592-223-0100 52. DOERGA BUSINESS ENTERPRISE 120 Parade Street Kingston Georgetown Guyana Telephone: 592-223-7766; 592-223-5555; 53. EL DORADO OFFSHORE GUYANA INC. 23 Brackdam Georgetown Guyana Telephone: 592-223-4705;

54. ELUSIVE EVENTS & BUSINESS SERVICES 87 BB Eccles East Bank Demerara Guyana Telephone: 592-699-6264

56. ENGINEERING AGENCIES (CARIBBEAN) LIMITED (ENGAGE) 78 Chanka Trace El Socorro South El Socorro Trinidad & Tobago Telephone: 868-674-8710; 868-674-9877 57. ENVISASE MARKETING & TECHNOLOGY COMPANY 80 Duncan Street Newtown Kitty Georgetown Guyana Telephone: 592-225-0241 58. ERNST & YOUNG SERVICES INC Pegasus Hotel Suit 100 Seawall Road Kingston Georgetown Guyana Telephone: 225-2835

Guyana Telephone: 592-227-5131 Fax: 592-226-8979 62. EXTRAVAGANT CELEBRATIONS 1763 Pioneer Layne South Ruimveldt Park Georgetown Guyana Telephone: 592 673-5133 63. FUJITSU CARIBEAN (TRINIDAD) LIMITED 6th Avenue South Extension & Ibis Avenue Barataria Trinidad & Tobago Telephone: 868-223-2826 Fax: 868-223-2826 64. GAICO CONSTRUCTION & GENERAL SERVICES INC. 225 New Market Street North Cummingsburg Georgetown Guyana Telephone: 592-226-5165 65. GAME XPRESS 25 North Road Lacytown Georgetown Guyana Telephone: 592-227-8902 Fax: 592-231-3627 66. GEB SECURITY SERVICES INC. 8-10 Providence East Bank Demerara Guyana Telephone: 592-233-6607; 592233-6609 Fax: 592-233-6608

59. ESSO EXPLORATION & PRODUCTION GUYANA LIMITED Lot 99 New Market Street Georgetown Guyana Telephone: 592-231-4187

67. GEOTECH VISION GUYANA INC. 50 Brickdam Stabroek Georgetown Guyana Telephone: 592-226-4332

60. Euphoria Entrainment Parks 476 Republic Park Perers Hall East Bank Demerara Guyana Telephone: 592-233-6712

68. GERMAN’S RESTAURANT 8 New Market Street Georgetown Guyana Telephone: 592-227-0079; 592-225-3972

61. EUREKA MEDICAL LABORATORIES INC. 263 Thomas Street North Cummingsburg Georgetown

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69. GIO TECH 64 Middle & Main Street South Cummingsburg Georgetown Guyana Telephone: 592-231-8750

Membership list 70. Global Marketing & Branding 1831 Unity Place Festival City North Ruimveldt Georgetown Guyana Telephone: 592-697-0480/ 592-650-6231 71. GLOBAL SEAFOOD DISTRIBUTORS 8 West Ruimveldt Industrial Estate Georgetown Guyana Telephone: 592-225-4531 72. GLOBAL TECHNOLOGY INC. 210 Camp & New Market Street Georgetown Guyana Telephone: 592-225-4657; 592-225-3364 Fax: 592-223-7438 73. GRACE KENNEDY REMITTANCE SERVICES 19 C Water Street Georgetown Guyana Telephone: 592-227-5147; 227-5141 Fax: 592-227-5137 74. GREEN TRADE IMPORT INC. 13 North Road & Wellington Street Lacytown Georgetown Guyana Telephone: 592-223-6006 Fax: 592-227-5137 75. gtPLAZA INC. A5 Barima Avenue Bel Air Park Georgetown Guyana Telephone: 592-223-5773 76. GUYANA & TRINIDAD MUTUAL FIRE & LIFE INSURANCE GROUP 27-29 Robb & Hincks Streets Georgetown Guyana Telephone: 592-225-7912 Fax: 592-225-9397 77. GUYANA BANK FOR TRADE & INDUSTRY High & Young Street Kingston Georgetown Guyana Telephone: 592-231-4400/8 Fax: 592-231-4411

78. GUYANA BEVERAGES INC. 4 “A’ Area AA Plantation Diamond East Bank Demerara Guyana Telephone: 592-216-1517

85.GUYANA TELEPHONE & TELEGRAPH CO. LTD 79 Brickdam Stabroek Georgetown Guyana Telephone: 592-225-1315

79. GUYANA GOLDFIELDS INCORPORATED 7 North Road Lacytown Georgetown Guyana Telephone: 592-227-7062 Fax: 592-225-5824

86. GUYBISCO INC. 23 Mc Doon East Bank Demerara Guyana Telephone: 592-233-0505

80. GUYANA LOGISTICS AND SUPPORT SERVICES INC. 110 Duke & Barrack Streets Kingston Georgetown Guyana Telephone: 592-219-5019 Fax: 592-219-5021 81. GUYANA NATIONAL SHIPPING CORPORATION LIMITED 5-9 Lombard Street La Penitence Georgetown Guyana Telephone: 592-226-1840; 592-226-3365 Fax: 592-225-3815 82. GUYANA OIL & GAS SUPPORT SERVICES 17A Water Street Georgetown Guyana Telephone: 592-227-1964 83. GUYANA OIL COMPANY LIMITED 191 Camp Street Georgetown Guyana Telephone: 592-225-1595/8 Fax: 592-225-2320 84. GUYANA PUBLICATIONS INC. 46-47 Robb Street Lacytown Georgetown Guyana Telephone: 592-226-2406; 592227-8527 Fax: 592-226-3237

87. GX MEDIA 38 Hibiscus Place Blankenburg West Bank Demerara Guyana Telephone: 592-276-3807 88. HAB INTERNATIONAL 1 Public Road Swiss Machinery Building Eccles East Bank Demerara Guyana Telephone: 592-233-2496/8 Fax: 592-233-2499 89. HAND IN HAND MUTUAL FIRE & LIFE INSURANCE COMPANIES 1-4 Avenue of the Republic Georgetown Guyana Telephone: 592-225-1865-7; 592227-0668 Fax: 592-225-7519 90. HARRIS PAINTS GUYANA LIMITED 10 Water Street North Cummingsburg Georgetown Guyana Telephone: 592-225-5630; 592-231-9789 Fax: 592-226-7002 91. HBL R. SEEBARRAN & COMPANY 73 Canje Street & Stone Avenue Section K Cambellville Guyana Telephone: 592-226-2078; 592-226-2079 92. ICON LNG 234 Lance Gibbs Street Georgetown Guyana Telephone: 592-218-4892

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Membership list 93. IEM SAALES & SERVICES LIMITED 31 SS Road Duncan V’GE San Fernando Trinidad & Tobago Telephone: 868-652-6312; 868-652-6312 94. IMAGE & LIKENESS 20 B Evergreen Street New Road Vreed-en-Hoop West Coast Demerara Guyana Telephone: 592-664-2039/592-654-9739 95. IMON WIRELESS SOLUTIONS INC. 126 Laluni Street Queenstown Guyana Telephone: 592-231-6545 96. IMPRESSIONS 149 Crown Street Queenstown Georgetown Guyana Telephone: 592-227-7757 97. INDUSTRIAL SUPPLIES & SERVICES 51 Robb & Albert Streets Bourda Georgetown Guyana Telephone: 592-225-6753 98. INFOTRANS GUYANA INC. 133 Church Street South Cummingburg Georgetown Guyana Telephone: 226-9873 99. INNOVATIVE BUILDING SOLUTION INC. 196 Duncan Street Lamaha Gardens Georgetown Guyana Telephone: 592-227-2482 100. INNOVATIVE SYSTEMS INC. 43 Croal & Alexander Streets, Stabroek Georgetown Guyana Telephone: 592-226-8964

101. INSURANCE BROKERS OF GUYANA LIMITED 125 Carmicheal Street South Cummingsburg Georgetown Guyana Telephone: 592-226-7261-2 102. INTEGRATED SECURITY SERVICES 21 Peter Rose Street Queenstown Georgetown Guyana Telephone: 592-223-4033; 592223-4039 103. INTERWEAVE SOLUTION GUYANA INC. 124 First Street Granville Park Beterverwagting East Coast Demerara Guyana Telephone: 592-220-4147; 592-644-7707 104. JOHN FERNANDES LIMITED 24 Water Street Georgetown Guyana Telephone: 592-225-6294; 592-2263241; 592-227-3344 Fax: 592-226-1881 105. JOHN LEWIS STYLES 186 Waterloo Street North Cummingsburg Georgetown, Guyana Telephone: 592-231-7321 Fax: 592-231-3941 106. JR RANCH INC 83 Preminsanjan Place North Cummingsburg Georgetown Guyana Telephone: 592-227-7220 107. JUICE UP 1237 West Minister West Bank Demerara Guyana, Telephone: 592-643-7252 108. JTW & ASSOCIATES MANAGEMENT INSTITUTE 157 Waterloo Street North Cummingsburg Georgetown Guyana Telephone: 592-223-5148

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109. KAIZEN ENVIRONMENTAL SERVICES (GUYANA) INC. 58 High Street Kingston Georgetown Guyana Telephone: 592-231-0346; 592231-0348 110. KANHAI’S GUYANA ELECTRICAL AGENCY 146 Regent Street Lacytown Georgetown Guyana Telephone: 592-227-2200 Fax: 592-227-8652 111. KING'S JEWELLERY WORLD 141 Quamina Street Georgetown Guyana Telephone: 592-226-0704 Fax: 592-225-2524 112. KOJAC MARKETING AGENCY 140 B Quamina Street South Cummingsburg Georgetown Guyana Telephone: 592-225-5366; 592227-5095; 592-225-2387 Fax: 592-227-5094 113. KPMG Savanna East 11 Queen’s Park East Port of Spain Telephone: 1-868-623-1081 Fax: 1-868-623-1084 114. KROSS KOLOR RECORDS 129 A Duncan Street Bel Air Park Georgetown Guyana Telephone: 592-226-6273 115. LAPARKAN HOLDINGS (GUYANA) LIMITED 34-37 Water Street Georgetown Guyana Telephone: 592-226-1055 Fax: 592-225-6874 116. LASEDEL CONSULTANCY INTERNATIONAL 254 Thomas Street South Cummingsburg Georgetown Guyana

Membership list Telephone: 592-225-7154 117. LEN’S 136 Sheriff & 4th Street Campbellville Georgetown Guyana Telephone: 592-227-1511; 592-227-2486 Fax: 592-226-3750 118. LENRAY'S INVESTMENT ENTERPRISE 53 Robb Street Lacytown Georgetown Guyana Telephone: 592-227-0886

124. MC CALMAN AND CO LEGAL SERVICES 185 Charlotte & King Street Georgetown Guyana Telephone: 592-231-8567 125. METRO OFFICE AND COMPUTER SUPPLIES 127 Quamina Street Georgetown Guyana Telephone: 592-223-9870; 5922239879 Fax: 592-223-9877

132. NATIONAL COMMUNICATIONS NETWORK Homestretch Avenue Georgetown Guyana Telephone: 592-223-5162; 592-225-8745 Fax: 592-223-5163 133. NATIONAL HARDWARE (GUYANA) LTD 15 ‘A’ Water Street Georgetown Guyana Telephone: 592-226-6569; 592-227-1964 Fax: 592-226-5280

126. MMC SECURITY FORCE INC. 95-99 Commercial Blvd Happy Acres East Bank Demerara Guyana Telephone: 592-220-5426; 592-220-5416 Fax: 592-220-6545

134. NATIONS UNIVERSITY/ SCHOOL OF THE NATIONS INC 41-42 New Market Street North Cummingsburg Georgetown Guyana Telephone: 592-226-5781

120. M.P. INSURANCE BROKERS & CONSULTANTS LTD 46 F Brickdam & Boyle Place Stabroek Georgetown Guyana Telephone: 592-227-7782 Fax: 592-227-7783 121. MACHINERY CORPORATION OF GUYANA LTD 26 Providence East Bank Demerara Guyana Telephone: 592-265-7315 Fax: 592-265-4885

127. MODERN INDUSTRIES LIMITED (A.H&L Kissoon) 3-6 Industrial Site, Ruimveldt Guyana Telephone: 592-2230958/59; 592-225-4705 Fax: 592-227-5265

135. NEW GPC INC A1 Farm East Bank Demerara Guyana Telephone: 592-265-4261 Fax: 592-265-2229

122. MARICS & COMPANY LIMITED 186-187 Charlotte Street Lacytown Georgetown Guyana Telephone: 592-226-1306; 592-231-9446/9 Fax: 592-227-2417 123. MASSY INDUSTRIES 5 Public Road Ruimveldt Georgetown Guyana Telephone: 592-226-72912; 592-226-8491-5 Fax: 592-225-7676

129. MUNESHWARS LIMITED 45-47 Water Street Georgetown Guyana Telephone: 592-227-7417 Fax: 592-227-7419

119. LIVEPROACTIVE 3 David Street & Aubrey Barker Road South Ruimveldt Georgetown Guyana Telephone: 592-658-0024

128. MODERN MEDIA ADVERISING AGENCY 62 Craig Street Campbellville Georgetown Guyana Telephone: 592-615-6666

130. N&S ALGOO LICENSED CUSTOMS BROKERAGE 49 Public Road Kitty Georgetown Guyana Telephone: 592-225-5495; 592231-1746 Fax: 592-225-5497 131. NAKED SKIN SOAPS 14 Hague Front West Coast Demerara Guyana Telephone: 592- 653-9816

136. NEW THRIVING CHINESE RESTAURANT 32 Main Street South Cummingsburg Georgetown Guyana Telephone: 592-225-0038 137. NICKS PHONICS CENTRE 162-163 Lamaha Street, North Cummingburg, Georgetown, Guyana Telephone: 592-227-5973 138. NT COMPUTEAC 175 Middle Street North Cummingsburg Georgetown Guyana Telephone: 592-223-7442 Fax: 592-223-7443 139. OPSEC INTERNATIONAL (GUYANA) INC. 176 Charlotte Street Bourda Georgetown Guyana Telephone: 592-231-7482

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Membership list 140. OPTIQUE VISION CARE 350 East Street Georgetown Guyana Telephone: 592-266-0126 141. P&P Insurance Brokers & Consultants Limited 35 North & King Streets Georgetown Guyana Telephone: 592-225-4106; 592-225-4708 Fax: 592-227-0322 142. PAS CARGO 188 Waterloo Streets South Cummingsburg Guyana Telephone: 592-223-0739 143. PATSAN TRADING 282 Sheriff & John Streets Campbellville Georgetown Guyana Telephone: 592-225-9832; 592225-9833; 592-225-9834 Fax: 592-227-7624 144. PEGASUS HOTEL GUYANA Seawall Road Kingston Georgetown Guyana Telephone: 592-225-8176; 592-225-2853 Fax: 592-225-8176 145. PETER P. IMPORTS & EXPORTS 162 Alexander Ketty Georgetown Guyana Telephone: 592 225-3569; 592 226-7623 Fax: 592 225-7500 146. POMEROON OIL MILL INC. Mudlot Kingston Georgetown Guyana Telephone: 592-223-5273 Fax: 592-223-5266 147. PREMIER INTEGRATED EXPERIENCE 521 Mango Lane East Ruimveldt Georgetown Guyana Telephone: 592-231-4510

148. PREM'S ELECTRICAL STORE 177 Alexander Street Lacytown Georgetown Guyana Telephone: 592-227-7765 Fax: 592-225-0394 149. PRICEWATERHOUSECOOPERS LIMITED Lot 12-13 Victoria Avenue Port of Spain Trinidad & Tobago Telephone: 868-299-07000 Fax: 868-623-6025 150. PROFESSIONAL DEVELOPMENT ENTERPRISE 3864-3865 Cane View Avenue South Ruimveldt Gardens Georgetown Guyana Telephone: 592-231-4166 151. PROFESSIONAL GUARD SERVICE 81 4th Street Avenue Subryanville Georgetown Guyana Telephone: 592-225-2375; 592226-5465; 592-227-5574 Fax: 592-225-2375 152. PROJECT DEVELOPMENT CONSULTANCY 205 Charlotte Street Lacytown Georgetown Guyana Telephone: 592-223-8283 153. PURAN BROS. DISPOSAL INC. Lot 7 Bella Street Pouderoyen West Bank Demerara Guyana Telephone: 264-1239; 264-2489 Fax: 254-0054 154. RAJ SINGH INSURANCE BROKERS & RISK MANAGEMENT CONSULTANTS INC. 86 First Street Alberttown Georgetown Guyana Telephone: 592-227-2880; 592-227-0294 Fax: 592-227-3096

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155. RAM & MCRAE 157 ‘C’ Waterloo Street North Cummingsburg Georgetown Guyana P.O. Box 10148 Telephone: 592-226-0322; 592-226-1301 Fax: 592-225-4221 156. RAMADA GEORGETOWN PRINCESS HOTEL Track 'BS' Block 2 Plantation Providence East Bank Demerara Guyana Telephone: 592-265-7009 Fax: 592-265-7002 157. RAMBARRAN’S ENTERPRISE 10 Meadow Bank East Bank Demerara Guyana Telephone: 592-225-9304; 592227-5222; 592-226-0772 158. RAMPS LOGISTICS GUYANA INC 23 Brickdam Stabroek Georgetown Guyana Telephone: 592-223-3770 159. RAMSON & CONWAY & ASSOCIATES 217 South Street Lacytown Georgetown Guyana Telephone: 592-225-7723 160. RAPID RESULTS INC. 161 Lamaha Street North Cummingsburg Georgetown Guyana Telephone: 592-223-4172 161. RENT-A-TENT 1 Rahamans Park East Bank Demerara Guyana Telephone: 592-225-7063 Fax: 592-225-3763 162. REPUBLIC BANK GUYANA LIMITED 155-156 New Market Street Georgetown Guyana Telephone: 592-223-7938-49 Fax: 592-225-3763

Membership list 163. Rid-O-Pes 75 6th street Alberttown Georgetown Guyana Telephone: 592-225-5527 Fax: 231-7123 164. RORAIMA AIRWAYS LIMITED R8 Eping Avenue, Bel Air Park Georgetown Guyana Telephone: 592-225-9647; 592-225-9648 Fax: 592-225-9646 165. RRT ENTERPRISES 107 Regent Road, Bourda, Georgetown Guyana Telephone: 592-225-1290; 592-225-2237 Fax: 592-225-1290 166. SPR ENTERPRISES 45 Brickdam Georgetown Guyana Telephone: 592-223-5699 Fax: 592-223-5687 167. SAFEWAY SECURITY 153 Oronoque & Regent Streets Bourda Georgetown Guyana Telephone: 592-227-6465; 592227-6473 Fax: 592-227-6249 168. SAGACITY MEDIA 127 Island Covent Gardens East Bank Demerara Guyana Telephone: 592-265-4309 169. SEALAND SURVEYS Sublot E Block A7 Plantation Nouvelle Flaunders West Coast Demerara Guyana Telephone: 254-1591 170. SILVIE'S GENERAL STORE 44 High Street Werk-En-Rust Georgetown Guyana Telephone: 592-225-4360; 592-227-6241 Fax: 592-227-6240

171. SOCIAL RANK MEDIA 125 Regent Road Bourda Georgetown Guyana Telephone: 592-225-1842 172. SOLUTIONS PRO 51 Princess Street Wortmanville Georgetown Guyana Telephone: 592-231-8660 173. STARR COMPUTER INC. 59 Brickdam Stabroek Georgetown Guyana Telephone: 592-225-4846 Fax: 592-223-7773 174. STERLING PRODUCTS LIMITED Providence East Bank Demerara Guyana Telephone: 592-265-7403 Fax: 592-265-4956 175. SUERIA MANUFACTURING INC. Lot 70 Industrial Site Eccles East Bank Demerara Guyana Telephone: 592-233-2473; 592-233-2069 176. TAGMAN MEDIA 189 Charlotte Street Bourda Georgetown Guyana Telephone: 592-227-8899 177. TCL GUYANA INCORPORATED 2-9 Lombard Street Georgetown Guyana Telephone: 592-225-7520 Fax: 592-225-7347 178. TEXILA AMERICAN UNIVERSITY (TAU) Lot "A" Goodverwagting East Bank Demerara Guyana Telephone: 592-222-5224; 592-222-5225 Fax: 592-231-8118

179. THE CONSULTANCY GROUP 263 Earl's Avenue Subryanville Georgetown Guyana Telephone: 592-225-8771; 592225-8773 180. THE GIFT CENTRE 46 Hadfield Street & Boyle Place Stabroek Georgetown Guyana Telephone: 592-225-2609; 592-227-7217 Fax: 592-225-0360 181. THE HARDWARE DEPOT 182 Charlotte Street Georgetown Guyana Telephone: 592-226-4165 Fax: 592-226-4050 182. THE LANGUAGE INSTITUTE 5th First Avenue Subryanville Georgetown Guyana Telephone: 592-231-7323; 592-227-7217 183. TONY'S AUTO SPARES 72 Light Street Alberttown Georgetown Guyana Telephone: 592-231-4032; 592-227-8574 Fax: 592-225-1426 184. TOSL ENGINEERING LIMITED 8-10 Mararaj Avenue Narabella Trinidad & Tobago Telephone: 1-868-290-8356 Fax: 1-868-653-5404 185. TOUCAN INDUSTRIES INC. 10 Water Street Kingston Georgetown Guyana Telephone: 592-225-4607 186. TRADE-LINC Maraj Building 3rd Floor Room G-8 Georgetown Guyana Telephone: 592-226-5656

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Membership list 187. TRANS PACIFIC MOTOR SPARES & AUTO SALE INC. Lot 58 Good Hope East Coast Demerara Guyana Telephone: 592-220-9293; 592-220-9184 Fax: 592-220-9796 188. TSD REGIONAL MANAGEMENT SERVICES LIMITED 77 Brickdam Stabroek Georgetown Guyana Telephone: 592-226-3226-8 Fax: 592-225-7578 189. U MOBILE (CELLULAR) INC. 9 Fort & Barrack Streets Kingston Georgetown Guyana Telephone: 592-690-0000 190. UMAMI INCORPORATED 34 Lusignan East Coast Demerara Guyana Telephone: 592-220-9117 191. UNICOMER GUYANA INC. 25-26 Main Street Georgetown Guyana Telephone: 592-225-5886 Fax: 592-227-8751

192. UNITED INVESTMENT TRADING 141 Camp & Regent Street Georgetown Guyana Telephone: 592-226-8858 Fax: 592-226-8859 193. UNIVERSAL GROUP OF COMPANIES INC. BB Durban & Hardina Streets Wortmanville Georgetown Guyana Telephone: 592-227-4069; 225-2234 Fax: 592-225-2288 194. V-NET COMMUNICATION 25 Delph Street Campbellville Georgetown Guyana Telephone: 592-219-4787; 592-219-4788 195. VIDEOMEGA PRODUCTION 176 Middle Street South Cummingsburg Georgetown Guyana Telephone: 592-226-9555; 592-225-1594 96. VSH-UNITED (GUYANA) INCORPORATED 103 Carmicheal Street North Cummingsburg Georgetown Guyana Telephone: 592-223-8444

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197. WEBSOURCE GUYANA INC. 212 Camp Street North Cummingsburg Georgetown Telephone: 592-231-1338; 592-223-3216 198. Yon’s Pro-Fashion 250-251 Section 6 Stabroek Market Georgetown Guyana Telephone: 592-644-2424; 592-681-5494

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