Guyana’s Finance Minister Dr. Ashni Singh has told a visiting Jamaica trade delegation that the Guyana government has a responsibility to ensure that its 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 first 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 the Irfaan Ali government is not opposed to foreign participation in the local economy, outlining to the 75-member strong Jamaica trade mission, the abundant investment opportunities available 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, giving priority to nationals and locally owned companies. Foreign companies seeking to provide goods and services in several areas within this sector are required to 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 is 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 any problems at all”.
Hill told reporters that Jamaican companies that have established themselves in various sectors are in Guyana seeking partnerships and investment opportunities.
Prior to his departure from Jamaica, Hill said Kingston is very optimistic about this trade mission, and believed “it will help us to cement those original arrangements we made.
“I see the relationship that we are seeking to build with Guyana as a vital one [especially] for Jamaican construction companies,” he said then.
CMC/
