Competitiveness
Enhancing National Competitiveness

 

“We must now … make our number one strategic economic priority the goal of enhancing the competitiveness of our economy to deliver greater economic growth.”
His Excellency Bharrat Jagdeo, President of the Cooperative Republic of Guyana

In-line with delivering on this vision, the Commerce Division of the Ministry of Tourism, Industry & Commerce had produced, in collaboration with the Office of the President, a Draft Policy Discussion Paper, “Enhancing National Competitiveness: Implementing the National Strategy.” ( 748KB)

The paper outlined Government’s initial assessment of progress so far in strengthening national competitiveness and diversifying Guyana’s economy. Importantly, the paper also set out an initial assessment of the actions necessary to deliver a step-change in the competitiveness of Guyana’s economy, in order to support the next wave of economic growth. The actions were summarised in a set of high-level policy recommendations.

Comments and views on the draft paper were welcomed.

Previous Publications in the NCS Process

Download the Draft Policy Discussion Paper Enhancing National competitiveness - Implementing the National Strategy (748KB) Download a document that sets out the process for finalising the paper. Finalising the Policy Discussion Paper (34KB) [Download the free Adobe® Reader™] Anna Morris Senior Economist Ministry of Tourism, Industry & Commerce 229 South Road, Georgetown Tel: +592 225 2280 Fax: +592 225 4310 E-mail: amorris@mintic.gov.gy Comments to the PSC Jared Kissoon 157 Waterloo St. Georgetown Tel: +592 225 0977 Fax: +592 225 0978 Email: info@psc.org.gy

Through a ground-breaking partnership approach between the Government and private sector, a new draft of the National Competitiveness Strategy was developed. This was formally launched at the May 2006 Presidential Summit on Private Sector Development.

 

 

NCS-related developments

A public-private National Competitiveness Council (NCC) has recently been established in Guyana to take ownership of the National Competitiveness Strategy (NCS) and act as the central point of policy leadership that will ensure ongoing development and implementation of the NCS.

The NCC's main objectives are as follows:

• Act as a central point of public-private leadership for the NCS to oversee and co-ordinate ongoing strategy formulation, ensure that the goals of the NCS are adhered to, that policies and program are implemented, that results are monitored, that policies and program are altered in light of performance, and that new policies and programs are devised.
• Promote and communicate the NCS locally and internationally
• Search for solutions for key cross-cutting issues and challenges facing Guyana's economic development
• Search for synergies among donors in order to improve effectiveness of donor and lender institution

The first meeting of Guyana's National Competitiveness Council was held in January 2007. For more information, see: http://www.gina.gov.gy/archive/daily/b070126.html

In September 2007, His Excellency, President Jagdeo, chaired a second meeting of the National Competitiveness Council. At the meeting, Council Members discussed eight priority policy areas relating to Guyana's competitiveness:

• Problems with access to finance, particularly for small and medium size businesses
• A mis-match between the export projections of major exporters and shipping companies
• Reducing red tape in Customs, and the particular problems experienced with exports
• Difficulties small businesses face as a result of the absence of a Mutual Guarantee Fund
• Government’s plans for overall tax reform
• Streamlining the process of establishing businesses
• The urgent need for liberalisation of the telecommunications market, and the potential this has for rapid expansion in job creation in Information and Communications Technology-enabled services
• The importance of good corporate governance.

NCC Communique September 2007 (67.5 KB)

On 25 January 2008, a further meeting of the National Competitiveness Council was held. The meeting reviewed progress on issues (listed above) that were initially addressed at the NCC's September 2007 meeting. Members also considered three new issues:
(i) The impact that oil price increases and issues with GPL are having on the Competitiveness of businesses
(ii) The potential for economic growth as a result of greater integration with Brazil
(iii) The need to provide support for workers to assist them in identifying how labour can play an active role in improving Guyana’s Competitiveness.
For more details, see Press Release

Inter-American Development Bank funded Support for Competitiveness Program

In March 2007, the Government of Guyana and the Inter-American Development Bank signed an agreement for a US$27m hybrid policy and investment loan to fund a new flagship Program (the ‘Support for Competitiveness Program’), which will be executed over the next five years and implemented via the Ministry of Tourism, Industry and Commerce. For information on the signing of the loan, see http://www.gina.gov.gy/archive/daily/b070321.html

"The Program will work within the framework of Guyana’s National Competitiveness Strategy (NCS) to enhance the economic competitiveness of Guyana’s economy and thereby bring about economic growth and greater private investment, exports and employment. The Program’s specific objectives are to help strengthen the institutions for public-private dialogue on competitiveness and to help improve the business environment for private investment and export development. For more information on the Program, see: http://www.iadb.org/projects/Project

Support for Competitiveness Program (GY-L1006). Loan Proposal (1.36 MB)