Private sector commission calls for enabling political climate and higher levels of investment.

Georgetown: Under the theme: " The remergence of a strong private sector in Guyana", the PSC held its 19th Annual General Meeting recently.  The Chairman's speech was filled with high expectations for the political and business environment in Guyana. " Given recent trends, the private sector is on the cusp of a take- off to fulfill its true potential as the engine of growth in Guyana’s economy.  The policy changes in Guyana over the years have been focused and targeted to facilitate this current and unprecedented level of confidence that the private sector has in exploiting business opportunities in Guyana". The address to members included issues of growth and development over the last decade."The private sector has re-emerged from its relative lack of importance in the economy of the past and is now definitively established as the true engine of growth in Guyana.  With increasing levels of local and foreign investment it is also growing exponentially and has increasingly assumed a dominant position in the economy.  This growth and dominance of the is evidenced by the dramatic increase in income taxes paid by companies over the years.  In the year 2000, for example, income taxes paid by companies amounted to some GS8.3 billion.  By fiscal year 2010 this amount had grown to G$21.4 billion, a 159 % increase"..