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Investment conference to focus on corruption, governance

The impact of bribery and corruption on investment will be among several areas to be addressed at a two-day investment conference being organised by Western diplomatic missions and the private sector.

President Donald Ramotar is expected to declare open the Guyana Investment Conference on Thursday at the Guyana International Conference Centre. Slated for June 27-28, the conference will be held under the theme “Maximising Opportunities for Investment in Guyana”.

“The seminar will focus on enhancing Guyana’s economic prosperity, by identifying the challenges and opportunities facing foreign and local investment in Guyana,” states a brief on the event.

Organisers said the conference would outline the impact of bribery and corruption on investment, and discuss international best practices and promote good governance by identifying areas where greater transparency, regulatory reform and enhanced enforcement is required.

Other objectives include encouraging greater foreign direct investment and enhancing the ease of doing business in Guyana including through export credits, as well as identifying the means to measure and report on initiatives recommended.

Also down to address the opening of day one of the conference is the President of the Caribbean Development Bank, Dr. William Warren Smith.

On Friday, the speakers will include Executive Director, CARICOM IMPACS, Francis Forbes; Minister of Home Affairs, Clement Rohee and Minister of Finance Dr. Ashni Singh.

Stakeholders will share best practices and success stories that can be adapted and implemented in Guyana and identify effective recommendations for enhanced investment.

Local and international experts, from organisations such as, the Export Development Canada, Caribbean Financial Action Task Force, CARICOM IMPACS, Department for International Development, United Nations Development Programme, Inter-American Development Bank, the European Union, Private Sector Commission, Ministry of Foreign Affairs and the Georgetown Chamber of Commerce and Industry have been invited to make presentations and engage in panel discussions under six thematic areas.

They are Challenges and Opportunities of Investing in Guyana, Investment Promotion, Investment Protection, Capital Markets Decision Processes, Corporate Governance, and Security

This seminar is a multi-stakeholder collaboration with several partners including the High Commission of Canada, the Government of Guyana, the European Union, the US Embassy, the British High Commission, the United Nations Development Programme and the Inter-American Development Bank, REPSOL, Pacific Rubiales, the Private Sector Commission and the Beharry Group of Companies (specifically, Guyana Bank for Trade and Industry and North American Fire Insurance Company) and the Georgetown Chamber of Commerce and Industry.