The Georgetown Chamber of Commerce and Industry (GCCI) is collaborating with the Jamaica Stock Exchange to develop a junior stock exchange in Guyana. This announcement was made during the second Regional Investments and Capital Markets Conference held last week.
GCCI President Kester Hutson, who participated in a panel discussion on the role of the private sector in promoting sustainable wealth creation, emphasized that the junior stock market initiative would help small and medium enterprises gain access to capital. “The Chamber is excited about this opportunity, as we need to expose our members to these possibilities. The Jamaica Stock Exchange serves as a successful model,” Hutson stated.
Additionally, the GCCI highlighted its efforts in trade facilitation, which include organizing inbound and outbound trade missions and enhancing members’ capabilities in trade and investment. “The Chamber remains committed to exposing, engaging, and educating our members through these strategic programs,” the statement concluded.
GCCI executive member Richard Rambarran, speaking in his capacity as Country Manager of NCB Capital Markets Incorporated (Guyana and Suriname), delved into the role of broker-dealers in capital markets.
He also acknowledged the challenges in Guyana regarding access to financing 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?” Rambarran said.
The 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 to build institutions that are necessary for good governance, and sound and responsible economic management.
“We have done a lot of heavy lifting for a very long time and we didn’t get here by accident. Guyana today is likely, possibly one of the most attractive places to do business in the world,” Dr Singh said.
