GEORGETOWN, Guyana, CMC—The three-day Guyana Ex[position (Guyexpo)] opened here on Thursday night, with President Irfaan Ali saying that his government has provided one billion dollars (One Guyana dollar = 0.04 cents) in direct support to an estimated 4,000 small and medium-sized businesses (SMEs).
In addition, Ali told the opening ceremony that the government has provided training to more than 10,000 businesses nationwide.
“These results are not accidental or by chance. They are by a carefully articulated vision, backed by hard work and commitment, sound policy-making matrix, and financial prudence,” Ali said.
He said also that the government’s robust partnerships with local institutions have facilitated hundreds of new loans, totaling billions of dollars, to SMEs and unlocking the possibilities of SMEs acquiring capital with targeted policies that support financial institutions and reduce the risks in lending to SMEs.
President Ali women have also benefitted from the initiatives, which enable them to make their own decisions and lead prosperous and fulfilling lives.
“And look at the size of our procurement budget. And 20 percent of all our procurement goes to SMEs. This is the reality. This is what defines our economy today,” President Ali said, adding that the entrepreneurial distribution grant saw more than 23,000 startups benefiting.
“Our local private sector is answering the call of economic diversification and transformation. They are answering because they understand the policies and the impact of the policy, and they are embracing the strength of the collective future all of us have,” Ali said, noting that t Guyexpo 2024 is a celebration of entrepreneurship, productivity, creativity, and the gains of the policy-making matrix.
Guyexpo 2024, with the theme “Guyana on Show: The Fastest Growing Economy,” will feature a diverse range of local and regional businesses. It will offer a platform for entrepreneurs to network and negotiate with international companies while showcasing their skills, products, and services.
The Ministry of Tourism, Industry, and Commerce, GO-INVEST, and the private sector are among the exposition’s key collaborators.
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