By Abena Rockcliffe- Campbell
“I have no reservations saying it is a win, win, win. GoInvest wins as the government representative stimulating investment, the private sector wins as it is allowed to expand and form ties with international and regional partners; and, foreign investors win as they will have full access to local partners that understand business within the Guyana perspective.”
This is what Chief Executive Officer (CEO) of the Guyana Office for Investment (GoInvest), Peter Ramsaroop told Guyana Standard this morning after signing an MoU with the Private Sector Commission (PSC).
The MOU is geared to provide a framework for cooperation between GOINVEST and the PSC to facilitate the development of local content, joint ventures between local and foreign investors, joint promotional activities related to investments and joint conferences.
During a press briefing, PSC President, Nicolas Boyer told the media that his organization is eager to work with GoInvest and make all the other steps necessary to build the local private sector. He said that the business community is very excited and views the MoU as quite a symbolic move. According to Boyer, “It sends a signal to the world that we are ready to do business.”
During an interview with Guyana Standard shortly after the presser, Ramsaroop said that the MoU will support the government’s drive to stimulate local content in the oil industry.
He said, “If we see foreign investors looking to do what local companies are capable of, then we will try our best to facilitate a joint venture.”
Ramsaroop said that many foreign investors are eager to collaborate with the local entrepreneurs “They are looking for local providers to partner with. They feel much better when they come into a country and they have people who understand how things work here. Also, local companies are now understanding that joint ventures are not bad, mergers are not bad.
Also, the investment boss said that the MoU paves the way for GoInvest to get a better understanding of the private sector’s capacity. “We will have a closer relationship with the local companies and will be better able to facilitate incentives for their investments.
