Latest update April 23rd, 2024 12:59 AM
Sep 23, 2008 News
About one month ago, the Georgetown Chamber of Commerce and Industry (GCCI) completed its strategic plan for the next five years.
President of GCCI, Chandradat Chintamani, contends that, over the next five years, the Georgetown Chamber of Commerce and Industry’s strategic plan will define the direction of the Chamber in terms of its strategies and decision-making processes.
He says that it will also position the Chamber to better understand the legal, administrative and complex environment within which its members operate, and to develop programmes and activities to enable its members to take advantage of the opportunities available to them.
“It will also identify possible alternative solutions to threats and challenges, all of which are aimed to enable members to be more competitive and achieve their corporate objectives.”
As the president of the chamber, he added, he is committed to the implementation of the plan.
“We are convinced that the plan is poised to, and will, benefit the wider business community in more ways than one.”
The plan identifies broad strategic goals which illuminate what GCCI will achieve by the year 2012, through capacity building, membership recruitment and engagement, research, communication and advocacy and resource mobilisation, governance and promotion and protection of trade.
Some of the strategic goals for the period 2008 to 2012 are to improve the quality of services offered to members, to achieve operational and financial self-sufficiency, to introduce one new service annually, to strengthen the institutional capacity of the chamber, to increase membership, develop and implement the chamber’s code of conduct, promote and protect trade and investment.
As part of the strategy plan, the chamber hopes to develop a formal partnership with the University of Guyana, with the objective of receiving two unpaid Interns annually from the Business Management and Computer Science programmes.
During the planning processes, high taxation, value added tax, corporation tax, and income tax were identified as key issues. According to the GCCI, the impact of this is reduced disposable income and reduced retained earnings, factors considered critical in the macro-environment, and likely to have significant adverse effects on businesses. GCCI intends to advocate for tax reform.
Another issue identified is climate change and the threat that it poses to the coastal strip.
Crime and security were identified as factors that cause reduction of new investment in areas such as tourism, reduced business hours and increased migration.
Drugs and money laundering, as well as counterfeit goods, also pose a problem, according to the chamber.
The plan is subject to approval by the Executive Management Committee.
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