No red tape: Pres. Ali says Guyana/Ghana will make private investments easy

President Dr. Irfaan Ali addressing the gathering at the Arthur Chung Conference Centre (Photo: Office of the President/ December 6, 2021)

There will be no interlocutors in this process, the President said also. Instead, he assured the gathering that government officials and the “systems of government” will be accessible to the private sector of both countries.

The issue of “red tape” has traditionally deterred private sector investments. This has been a concern, particularly in Guyana, leading to international companies complaining about procurement procedures, lengthy timelines for permits and uncertain approval processes.

Cognisant of this long standing challenge, during his inauguration speech in 2020, President Ali had announced that his government will create a single-window application system.

On Monday, while addressing a Harvard virtual workshop, he said this single-window system for construction permits was in its “final stages.”

Meanwhile, the Ghanian Vice-President said that there is much room for trade between the two countries to increase, given the countries’ similarities and synergies.

Vice-President of Ghana Dr. Mahamudu Bawumia (Photo: Office of the President/ December 6, 2021)

In fact, Dr. Bawumia said “…recent upsurge in both economies may allow respective private sectors to enhance commercial pursuits.”

On the Ghanian front, he pointed out that the African Continental Free Trade Area, the largest free trade area in the world, has its secretariat in Ghana.

And, he called on Guyanese businesses to leverage the opportunities for investment that present themselves in Ghana.

And in Guyana, he assured President Ali and his government that the West African nation is keen on sharing its developmental experiences with Guyana, to help the country achieve its goal of sustainable development.