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Min. Singh says partnerships important for local companies to compete ‘meaningfully’ in new economy

Senior Minister in the Office of the President with responsibility for Finance Dr Ashni Singh says the strategic international partnership is critical to local businesses as Guyana undergoes a rapid economic transformation.

Senior Minister of Finance, Dr Ashni Singh

This is why he says Guyana has always been welcoming and facilitating international companies coming to the country.

According to Dr Singh, the new emerging industries require the injection of technology and expertise that local companies currently do not possess. Although these components could be accumulated in the long term, the rapid transition does not allow local businesses to transition in the ordinary time frame.

As such, the finance minister explained that being open to international partnerships and even local partnerships is important for local businesses as they begin to transition to the new economy.

“We want to make sure that Guyanese companies can participate as fully and as meaningful as possible in this new economy, we don’t enjoy the luxury of going through a natural evolution at the speed that the evolution would normally take place," the Finance Minister stated.

According to him, partnerships will allow local companies to compete meaningfully in the new economy and also internationally. "So let me say definitely, we by no means, being open for business to the world at large and promoting Guyanese businesses and the interest of Guyanese nationals, we don’t see those two objectives conflicting with each other in the least.”

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