2016 – 2020 STRATEGIC PLAN Ministry of Business Guyana Means Business

Content State of Competitiveness in Guyana 1 Ministry’s Vision 2 Ministry’s Mission 3 Ministry’s Objectives 4 Ministry’s Organizational Structure 5 Public – Private Co-operation and Dialogue Mechanism 6

State of Competitiveness Guyana’s Key Competitiveness Challenges and Opportunities

Challenges Lack of fiscal space to implement a countercyclical stimulus investment push strategy Vulnerable to climate change COMPETITIVENESS: low ranking on the Global Competitiveness index LOW VALUE ADDED EXPORTS CONCENTRATION OF EXPORTS: vulnerability to external shocks

Opportunities Expected stable exports New technologies change the patterns of production and consumption. Strong Government commitment to improvements in transportation and telecommunication infrastructure and renewable energy Low oil price implies that less resources are spent on energy Great potential in Tourism as an Export Extensive resources to produce renewable energy to reduce the cost for electricity

Vision Increased living standards for all Guyanese in a diverse and green economy

Mission To create a business environment that fosters innovation, competitiveness, growth and diverse employment opportunities by improving the ease of doing business, attracting sustainable investment, promoting value-added exports and enhancing workforce skills through policy-making, advocacy and cooperation with private sector

Objectives

Ministry of Business’s Objectives Increase sustainable private sector investment through the design and implementation of a National Investment Strategy and Safeguarding Competitive Markets Improve the Ease of Doing Business Through the Development and Prioritization of Key Reforms and Structured National Collaboration Increase Value Added Production and Exports Through the Development of a National Export Strategy and an Enhanced Quality Infrastructure Support Small Business Development Through Effectively Implementing the Provisions of the Small Business Act and Intensifying the Services of the Small Business Bureau

1. More Sustainable Investment More Sustainable Private Sector Investment & FDI Address critical factors for investment attraction in collaboration with relevant public stakeholders Design and Implement a National Sustainable Investment Strategy in consultation with private sector, aiming to reap the most growth benefits from foreign and domestic investment Develop a framework to incentivise sustainable and eco- efficient business practices, and communicate regulations and best practices Safeguard competitive markets to encourage business activity and innovation

2. Guyana an easy place to do business Enhance business climate transforming Guyana in an easy place to do business Implement a Single Window for trade transactions in collaboration with members of a task force approved by cabinet Establish a private-public mechanism to design and implement business environment reforms that transform Guyana into a place where doing business is easy Provide statistics and analysis for businesses

3. More Value Added Exports Increase value added of exports Design and implement a National Value Added Export Strategy through collaboration with public and private sector Foster local value added production Improve quality standards by strengthening the National Quality Infrastructure

4. Foster growth of Small Businesses Support Small Business Development Through Effectively Implementing the Provisions of the Small Business Act Foster Micro and small business’ access to public and private markets and programs Micro and small business access to training and innovation assistance Strengthening of the SBB

Main Outputs Doing Business Action Plan National Sustainable Investment Strategy State-of-the-Art Laboratory Single Window for Trade transactions Small Business Incubator or Accelerator National Value Added Export Strategy

Organisational Structure

Technical Departments Department of Industry Department of Commerce Business Strategy and Policy Unit Tourism Division Consumer Affairs Division National Exhibition Centre (NEC)

Semi-autonomous agencies Guyana Office for Investment (GO-Invest) Guyana National Bureau of Standards (GNBS) Small Business Bureau (SBB) Competition and Consumer Affairs Commission (CCAC) Guyana Tourism Authority (GTA)

Public – Private Co-operation and Dialogue Mechanism

Business and Competitiveness Advisory Council (BCAC) BCAC intends to foster inter-public as well as public-private dialogue and cooperation to make recommendations to Cabinet Ad hoc committees will be formed based on the council’s annual agenda on a specific topic. They should be organized based on policy issues, industry cluster or geographic location. Committees will be comprised of management level representatives of public and private sector. Their purpose is to provide an opportunity for review, and informed debate on challenges, policy options and implementation. Working groups will be established by committees on a needs basis, tasked with delivering specified (technical) outputs in a given timeframe. The council’s secretariat will lie within the MoB.

The Business & Competitiveness Advisory Council BCAC Committee 1 Working group A Working group B Committee 2 Working group C Working group D Committee 3 Working group E Secretariat