The Ministry of Business, the Guyana Office for Investment (GO-Invest) and the Caribbean Export Development Agency will be collaborating to host Guyana’s first Business to Business Exhibition. This Trade and Investment Exhibition which will be held next year is expected to attract participation from 75 businesses.
According to Business Minister, Dominic Gaskin, it seeks to foster linkages between local sellers and international buyers, with a view to boosting exports and attracting investments.
For 2018, the Business Minister revealed that $182M has been allocated to the work of the Guyana National Bureau of Standards (GNBS). It is expected to support local producers with enhanced testing capacity in laboratories thereby reducing the need for samples to be sent overseas for testing and consequent delays in businesses getting products certified.
In 2018 as well, he said that GO-Invest will receive a total subsidy of $218M. The agency projects to facilitate investments of $154 billion for the creation of approximately 5,725 jobs in 2018.
Gaskin also said that critical to enhancing the performance of this agency is the development and implementation of a National Export and Investment strategy. He said that this forms part of a US$9.2M loan-funded project “Enhancing the National Quality Infrastructure for Economic Diversification and Trade Promotion”.
The Minister stated that work has already begun in drafting the terms of references for the consultant required design and implement this sub-component of the project. He noted, too, that $200M is provided in Budget 2018 for expenditure on the National Quality Infrastructure Project.
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