GEORGETOWN, Guyana, CMC—The Georgetown Chamber of Commerce and Industry (GCCI) said Friday it is collaborating with the Jamaica Stock Exchange (JSE) to develop a Junior Stock Exchange in Guyana.
In a statement, the GCCI said that information regarding the junior stock exchange was among the matters announced at the second Regional Investments and Capital Markets Conference, which ended here on Wednesday.
GCCI president Kester Hutson, who participated in a panel discussion on ‘the Private Sector’s role in promoting sustainable wealth creation and prosperity,’ said one reason for the new initiative is that small and medium-sized enterprises (SMSE) need access to capital.
“The Chamber is excited about it. We need to expose our members to these opportunities. Jamaica Stock Exchange as a model that works,” Huston said.
The statement said that he also highlighted the work that the GCCI has undertaken in trade facilitation, including inbound and outbound trade missions and increasing members’ capacity in trade and investment.
“The Chamber continues to expose, engage, and edify our members through these strategic programs.”
GCCI executive member Richard Rambarran, the Country Manager of NCB Capital Markets Incorporated (Guyana and Suriname), spoke in depth about broker-dealers and their role in capital markets.
In Guyana, he acknowledged the challenges with access to finance and financial institutions.
“We need to ask different questions. How can we begin to change the architecture so that we can have institutions in place that can begin to channel the types of monies that are required into the types of projects that are happening here in Guyana?’’
The statement said these remarks came on the heels of comments by Senior Minister of Government with responsibility for Finance, Dr. Ashni Singh, who sought to assure the conference that Guyana has the necessary experience in building the institutions necessary for good governance and sound and responsible economic management.
“We have done a lot of heavy lifting for a very long time and didn’t get here by accident. Guyana today is likely, possibly, one of the most attractive places to do business in the world,” the statement quoted Dr Singh as reiterating.
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