Latest update February 12th, 2025 8:40 AM
Jan 23, 2025 Letters
Dear Editor
The President of the Region Three Private Sector Inc. (R3PSInc), Halim Khan, has lauded the 2025 National Budget, themed “A Secure, Prosperous, and Sustainable Guyana,” for its transformative vision and comprehensive approach to fostering economic growth and social equity.
Khan highlighted the leadership and vision of President Dr. Irfaan Ali, emphasizing the government’s unwavering commitment to regional development. He noted that the significant allocations for infrastructure, education, and small business support directly address the needs of the private sector and local communities.
“The government has demonstrated a clear understanding of the needs of the private sector and the communities we serve,” Khan stated. “Investments in roads, bridges, and energy diversification will not only enhance connectivity but also stimulate commerce and create jobs.”
The budget’s focus on transformational infrastructure projects, including energy expansion and transportation development, is set to benefit Region Three significantly. Khan remarked, “The planned advancements in transportation infrastructure, such as new highways and bridges, will reduce logistical barriers, enabling businesses in Region Three to access markets more efficiently. Moreover, the Gas-to-Energy project’s potential to lower electricity costs can spur industrial growth and attract new investments.”
Khan praised the government’s initiatives to support small businesses, including expanded access to credit and capacity-building programs for entrepreneurs. He highlighted the establishment of the Local Content App as a particularly innovative step. “This initiative is a game-changer. By integrating small and medium-sized enterprises (SMEs) into high-growth sectors, the government is ensuring that the benefits of our economic transformation are widely distributed,” he said.
With over $52 billion allocated to education, Khan acknowledged the critical role of skills training and scholarships in empowering the workforce. “The Guyana Online Academy of Learning (GOAL) has already transformed thousands of lives, and this continued investment will prepare our youth for emerging opportunities in sectors like technology and oil and gas,” he noted.
As an advocate for sustainable development, Khan applauded the Low Carbon Development Strategy (LCDS) and its focus on climate adaptation projects. “Region Three has a vested interest in climate resilience, and initiatives like drainage systems and renewable energy projects are essential for safeguarding our communities and businesses from climate impacts,” he explained.
The manufacturing sector is poised for growth, thanks to investments in energy infrastructure and industrial facilities. “The expansion of electricity infrastructure, including the Gas-to-Energy project, will address the longstanding issue of unreliable power supply. Reliable and affordable energy is crucial for the growth of manufacturing, which can now expand into more value-added production,” Khan stated.
He also noted the potential for tourism growth through investments in sustainable tourism infrastructure and marketing. “The focus on developing eco-tourism and improving access to key tourist sites will position Region Three as a premier destination,” he said.
Khan underscored the importance of the budget’s investments in the agriculture sector. “With improved drainage and irrigation, farmers will be better equipped to handle unpredictable weather patterns caused by climate change. Additionally, the focus on agro-processing will open new markets for our products and increase value-added opportunities,” he explained.
He further commended the government’s emphasis on research and development, particularly in high-yield and climate-resilient crop varieties. “Budget 2025 ensures that the agricultural sector remains competitive and sustainable,” he added.
Khan concluded by emphasizing the need for collaboration between the private sector and government to ensure the successful implementation of the budget. “This budget reflects a vision of inclusivity and progress. As stakeholders, it is our responsibility to work together to achieve these goals and build a Guyana where prosperity is shared by all.”
To maximize the opportunities presented by Budget 2025, the Region Three Private Sector Inc. plans to host a series of forums to engage local businesses and residents. Khan remains optimistic that with strategic implementation, the budget will lay the foundation for a thriving and sustainable future.
Sincerely
Region Three Private Sector Inc. (R3PSInc)
(Budget 2025: A Blueprint for Regional Development and Economic Growth)
(Development and Economic Growth)
Feb 12, 2025
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