President Ali Opens GuyExpo 2024, Highlights Government Support for Small and Medium-Sized Businesses

President Irfaan Ali (extreme right) and Minister of Tourism, Industry and Commerce Oneidge Walrond at the opening of GuyExpo 2024

President’s Address

GEORGETOWN, Guyana, CMC—The three-day Guyana Ex[position (Guyexpo)] opened here on Thursday night, with President Irfaan Ali saying that his government has provided one billion dollars (One Guyana dollar = 0.04 cents) in direct support to an estimated 4,000 small and medium-sized businesses (SMEs).

Government Support

In addition, Ali told the opening ceremony that the government has provided training to more than 10,000 businesses nationwide.

“These results are not accidental or by chance. They are by a carefully articulated vision, backed by hard work and commitment, sound policy-making matrix, and financial prudence,” Ali said.

Robust Partnerships

He said also that the government’s robust partnerships with local institutions have facilitated hundreds of new loans, totaling billions of dollars, to SMEs and unlocking the possibilities of SMEs acquiring capital with targeted policies that support financial institutions and reduce the risks in lending to SMEs.

Women’s Empowerment

President Ali said that women have also benefitted from the initiatives, which enable them to make their own decisions and lead prosperous and fulfilling lives.

Procurement Budget

“And look at the size of our procurement budget. And 20 percent of all our procurement goes to SMEs. This is the reality. This is what defines our economy today,” President Ali said, adding that the entrepreneurial distribution grant saw more than 23,000 startups benefiting.

Economic Diversification

“Our local private sector is answering the call of economic diversification and transformation. They are answering because they understand the policies and the impact of the policy, and they are embracing the strength of the collective future all of us have,” Ali said, noting that Guyexpo 2024 is a celebration of entrepreneurship, productivity, creativity, and the gains of the policy-making matrix.

About GuyExpo 2024

Guyexpo 2024, with the theme “Guyana on Show: The Fastest Growing Economy,” will feature a diverse range of local and regional businesses. It will offer a platform for entrepreneurs to network and negotiate with international companies while showcasing their skills, products, and services.

Key Collaborators

The Ministry of Tourism, Industry, and Commerce, GO-INVEST, and the private sector are among the exposition’s key collaborators.

Conclusion

Guyexpo 2024 is a testament to the government’s commitment to supporting small and medium-sized businesses and promoting economic growth in Guyana.

FAQs

* What is GuyExpo 2024?
GuyExpo 2024 is a three-day exposition featuring local and regional businesses.
* What is the theme of GuyExpo 2024?
The theme of GuyExpo 2024 is “Guyana on Show: The Fastest Growing Economy.”
* What is the goal of GuyExpo 2024?
The goal of GuyExpo 2024 is to provide a platform for entrepreneurs to network and negotiate with international companies while showcasing their skills, products, and services.