By Saskia Warrick
October 5, 2024
Vice President Dr. Bharrat Jagdeo has clarified that foreign nationals, including Chinese entrepreneurs, are permitted to establish businesses in Guyana, emphasizing that regulatory bodies must uniformly enforce existing laws to ensure compliance.
This statement comes amid rising concerns about the growing presence of Chinese businesses and their perceived impact on local enterprises.
Dr. Jagdeo explained that closing these foreign-owned businesses would not only constitute discrimination but could also jeopardize trade relations with China, potentially violating World Trade Organization (WTO) agreements.
He reiterated that the Guyana Revenue Authority and other regulatory agencies have been directed to ensure full adherence to the law by all businesses operating within the country.
Acknowledging the role of Chinese businesses in contributing positively to the Guyanese economy, Dr. Jagdeo noted that they have enhanced access to a wider range of goods and services for consumers.
He reaffirmed the government’s commitment to maintaining a fair and competitive business environment for all nationals in Guyana.