Business

President Irfaan Ali on Tuesday announced that businesses will soon get billions of dollars in Value Added Tax (VAT) refunds. He made the announcement at the 27th annual awards ceremony of the Guyana Manufacturing and Services Association (GMSA). “The Commissioner-General of GRA (Guyana Revenue Authority) has assured me that by the end of this year, they will process every single ...

Two Canadian-headquartered companies, which have formed a Guyana-registered environmental management company, have secured a CDN$440,000 contract to construct a modern sewage treatment facility for the Sheraton-branded hotel to be constructed at Providence, East Bank Demerara, officials said Wednesday. A few details of the contract emerged at the announcement that Warehouse Transport Group (WTG), a logistics company, has established operations in ...

Outgoing President of the Guyana Manufacturing and Services Association (GMSA), Rafeek Khan on Tuesday urged Guyanese consumers to buy more local products, even as he also appealed to the government to help develop the private sector by investing in research and development and support the international marketing of more products. “Be patriotic to our locally manufactured products and invest in ...

Canada has received a request from Guyana to lift tourist visa requirements for Guyanese, even as vigorous efforts are being made to have a Canadian airline provide direct flights to this oil-rich South American nation, Canada’s High Commissioner to Guyana Mark Berman said Monday. “The Government of Guyana has indicated their interest in having that discussion and we have advised ...

Guyana’s projected real economic growth from 2023 to 2026 is estimated at 25 percent, Finance Minister Dr Ashni Singh told a visiting Canadian trade delegation on Monday. He restated that real economic growth in 2022 is now projected at “a staggering” 56 percent. “We are currently undergoing a transformation in the Guyanese economy that had scarcely been seen at anytime ...

Canadian joint venture oil companies, CGX Energy and Frontera Energy, on Monday said they have pushed back drilling an exploratory Wei-Wei well in the Corentyne Block until next January when a rig is scheduled to become available. “As part of its preparations, the Joint Venture has agreed with the Government of Guyana that the Wei-1 well will be spudded no ...

Firefighters were Monday night trying to confirm whether a huge fire at a bond at Le Ressouvenir, East Coast Demerara was caused by welding near flammable items. The storage bond was owned by Z Mohammed and Sons Hardware Store. “Unconfirmed reports suggest that welding was being done in the bond, which housed various flammable chemicals and other materials (oils, thinners, ...

The Guyana Competition and Consumer Affairs Commission (GCCAC) is being challenged to go after rogue businesses rather than only focusing largely on consumer protection, according to the Chairman of the Trade and Investment Committee of Guyana’s Private Sector Commission (PSC) Ramesh Dookhoo. “I heard very little of competition activities by the CCAC. There are a lot of rogue businesses out ...

The opposition Alliance For Change has accused the Irfaan Ali-led administration of refusing to summon meetings of parliamentary sectoral committee on natural resources to subject ministers and officials to scrutiny. “We wanted to get the natural resources parliamentary sectoral committee to start functioning. What we understand is that the PPP does not want that parliamentary sector committee to function because ...

Guyana has selected the United Kingdom-based BP International out of a total of 14 companies  to market the country’s share of crude oil from the Liza 1 and Liza 11 offshore fields, the Ministry of Natural Resources announced Thursday night. Under the Production Sharing Agreement, Guyana is entitled to 50 percent of the profit oil share- that is 12.5 percent ...