GEORGETOWN, Guyana, CMC – Finance Minister Dr. Ashni Singh Tuesday told a visiting Jamaica trade delegation that the Guyana government has a responsibility to ensure that nationals are fully employed even as Kingston acknowledged that the country’s local content legislation is no deterrent to improving trade between the two Caribbean Community (CARICOM) countries.
“Our priority is getting as many Guyanese into jobs,” Singh said, adding, “where skills are needed that are not available in Guyana, we are open and receptive to having those in Guyana.”
Singh, who participated in discussions between government ministers and members of the Jamaica delegation, said that the Irfaan Ali government is not opposed to foreign participation in the local economy, outlining t0 the 75-member vital Jamaica trade mission, the abundant investment opportunities here ranging from Information and Communication Technology (ICT) and housing to renewable energy and logistics.
The Local Content law seeks to boost Guyanese participation in the oil and gas sector, prioritizing national and locally-owned companies. Foreign companies seeking to provide goods and services in several areas within this sector must find Guyanese partners.
Jamaica’s Minister of Industry, Investment and Commerce, Aubyn Hill, told reporters that Georgetown’s focus on local content is no deterrent.
Hill said Jamaican companies are deeply interested in entering the local market and are encouraging them to enter into joint ventures with Guyanese partners.
“I like the Guyanese content arrangement for government contracts,” he told reporters, adding, “I think it is a good policy. I don’t see we have any problems at all”.
Hill told reporters that Jamaican companies that have established themselves in various sectors seek partnerships and investment opportunities in Guyana.
Before he departs from Jamaica, Hill said Kingston is optimistic about this trade mission and believes “it will help us cement our original arrangements.
“I see the relationship we are seeking to build with Guyana as a vital one [especially] for Jamaican construction companies,” he said.
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