Investment office being revamped to cut red tape – Ramsaroop

PARLIAMENT

Chief Investment Officer Peter Ramsaroop says Guyana’s lead agency in the steering investments is being revamped to cut bureaucratic red tape.

“We are going to be proactive…there are many opportunities here and G-Invest becomes that first focal point- a place that investors come and will be guided and steered on all that is needed for their projects to become reality,” Ramsaroop, who is the Chief Executive Officer of Guyana’s Office for Foreign and Local Investment (G-Invest) told the Stabroek News in an interview.

“We will guide them to what are the necessities to be an active corporation here. And then based on the type of investments and which investment criteria the proposals fit, we will explain the requisite tax concessions, machinery waivers, etcetera, that can be accessed. We are a single window to that investor, to guide them through the process,” he added.

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It is estimated that over one million Guyanese, when counting their dependents, live outside of Guyana.  This exceeds the population of Guyana, which is now about 750,000.  Many left early in the 50’s and 60’s while others went with the next wave in the 70’s and 80’s.  The latest wave left over the last 20 years. This outflow of Guyanese, therefore, covers some three generations. This outflow still continues today, where over 80 % of U.G. graduates now leave after graduating.  We hope this changes, and soon.

Guyanese, like most others, try to keep their culture and pass it on to their children and grandchildren.  The problem has been that many Guyanese have not looked back, or if they did it was only fleetingly.  This means that the younger generations and those who left at an early age know very little about Guyana since many have not visited the country.  Also, if they do get information about Guyana, it is usually negative and thus the cycle of non-interest is cultivated.

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