Weathering the storm

IN a year when profits of businesses dried up, a global pandemic plagued the world, and Guyana’s progress was obstructed by a protracted electoral process, resilience remained important, and so did the drive for preserving democracy.

Persons, businesses and international partners who “stayed the course” and portrayed those and other qualities, were recognised by the Guyana Manufacturing and Services Association (GMSA) at its 25th annual awards ceremony at State House on Wednesday.

Stakeholders believe that the accolades were warranted because, evidently, reduced spending in the local economy, which has been constrained by the necessary novel coronavirus (COVID-19) prevention measures, has erased any semblance of ‘decent’ profits which would have been recorded by businesses prior to the dreaded pandemic.

The pandemic, coupled with the protracted March 2, 2020, General and Regional Elections had bound the local economy, so businesses had to “think outside of the box” in order to sustain their operations, and simultaneously remain relevant today amidst growing attention to Guyana’s economy, which, despite many adversities, is expected to boom in the coming years.

Among the businesses which were recognised for their sustained growth and development and innovation are: Agro Services Inc.; Bulkan Timber Works Inc.; Pleasureable Flavours; Fibre Tech Industrial Plastics; Triple ‘C’ Consultancy; Comfort Sleep; Action Coach Guyana; Sterling Products Limited; and the Demerara Distillers Limited.
Two individuals, Dr. Dianna DaSilva-Glasgow and Mohindra Chand were also recipients of awards.

“I applaud our local manufacturers and service providers; their commitment to nation-building is incontestable. I assure them that my government is fashioning a transformative economic agenda that will allow them to continue to stake their claim to national development,” said President, Dr. Irfaan Ali in his address at the award ceremony.
The President said this has been a difficult year for the entire world; probably the most difficult year in the past three decades.

“The pandemic has led to business contraction and jobs losses, but these, too, shall pass. I am supremely confident that our economy will rebound and emerge stronger and more robust in the new year and beyond,” said the Head of State.

The President is confident that the local entrepreneurial class has an instinct for seizing opportunities, as they have shown Guyana how to survive in difficult times,and have demonstrated the acumen to thrive when the “tide of fortune turns for the better”.

In further expressing his confidence in the local private sector, President Ali said: “The captains of enterprise possess a sixth sense of better times ahead. Those times are upon us; development will leap-frog over the next decade. Our manufacturers and service providers will be integral to the writing of this glorious chapter in our country’s history.”