October 16, 2024
President Dr. Irfaan Ali has reaffirmed Guyana’s commitment to supporting small and medium-sized enterprises (SMEs) as they scale their operations within the country’s expanding business landscape.
Speaking at the International Business Conference (IBC), President Ali encouraged SMEs to view their current position as a foundation for growth rather than a limitation, emphasizing the importance of certification and standards.
“Being an SME doesn’t mean you should not have standards or certification,” President Ali stated. “It is essential that SMEs understand that certification, standards, and processes are integral to their long-term success. From a state level, we are committed to supporting SMEs in achieving these.”
The Head of State also highlighted the role of local content legislation, which creates pathways for SMEs to partner with larger companies entering the Guyanese market.
Using large-scale port operations as an example, President Ali explained how local content regulations ensure that SMEs have fair access to these opportunities, integrating them into larger projects.
The conference also featured remarks from Suriname’s President Chandrikapersad Santokhi, who, via video presentation, announced plans to make the IBC an annual event, alternating between Guyana and Suriname.
The next IBC is scheduled for February 2025 in Suriname.
Organized by the Suriname Guyana Chamber of Commerce and the Guyana Manufacturing and Services Association, with support from GoInvest and the Suriname Investment and Trade Agency, the conference will continue until Thursday, bringing together regional and international investors looking to explore Guyana’s growing business potential.
Delicia Janneire for NCN News