The economy of Guyana is set to receive a significant boost with the recent collaboration between the Georgetown Chamber of Commerce and Industry (GCCI) and the Jamaica Stock Exchange. This partnership aims to establish a junior stock exchange in Guyana, a move that promises to provide small and medium enterprises (SMEs) in the country with access to much-needed capital for growth and expansion.
Key points from the second Regional Investments and Capital Markets Conference include:
- GCCI President, Kester Hutson, emphasized the importance of the junior stock market initiative in facilitating wealth creation and prosperity within the private sector. He expressed excitement about the prospects of the exchange and cited the successful model of the Jamaica Stock Exchange.
- The GCCI has been actively involved in trade facilitation by organizing trade missions and enhancing members’ capabilities in trade and investment. This strategic approach aims to educate and empower members to seize opportunities for growth and development.
- Richard Rambarran, an executive member of GCCI and Country Manager of NCB Capital Markets Incorporated (Guyana and Suriname), discussed the crucial role of broker-dealers in capital markets. He acknowledged the challenges faced by Guyana in accessing financing and financial institutions, stressing the need for a shift in the financial architecture to support relevant projects effectively.
The conference also featured insights from Senior Minister of Government with responsibility for Finance, Dr. Ashni Singh, who reassured attendees of Guyana’s strong foundation in governance and economic management. Dr. Singh highlighted the country’s attractive business environment and emphasized the diligent efforts that have been made to position Guyana as a favorable destination for investment and business operations.
As Guyana continues to evolve as a hub for economic growth and development, partnerships and initiatives such as the establishment of a junior stock exchange play a pivotal role in unlocking the country’s potential and creating opportunities for sustainable prosperity.
In conclusion, the collaboration between GCCI and the Jamaica Stock Exchange marks a significant step towards fostering economic growth and empowering SMEs in Guyana. By leveraging the expertise and networks of these organizations, the country is poised to attract investment, drive innovation, and solidify its position as a favorable business destination on the global stage. It is essential for stakeholders to continue supporting initiatives that promote financial inclusivity and sustainable wealth creation for a prosperous future.
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