Minister in the Office of the Prime Minister, Kwame McCoy, has reaffirmed the Guyanese government’s strong confidence in the private sector, highlighting its essential role in advancing national development and supporting the country’s digitization initiatives.
Speaking on Tuesday evening at the launch of Huawei’s e-Kit line at the Royal International Hotel, Minister McCoy highlighted the government’s strong commitment to building a modern, technology-driven economy.
“Digitising government operations and improving efficiency through technology remain central to our national agenda,” McCoy stated, highlighting the government’s focus on innovation and transparency through digital transformation.
Since taking office in 2020, the administration has initiated several efforts to modernize public services, improve connectivity, and strengthen the nation’s technological infrastructure.
Private Sector: The Engine of Modernisation
Minister McCoy emphasized that collaborating with the private sector is crucial for Guyana’s digital and economic transformation success.
From the government’s perspective, the private sector is key to reaching our national goals. Confidence in Guyana’s business community remains very high,” he asserted.
He also explained that the government continues to emphasize the importance of creating a supportive environment for small and medium-sized enterprises (SMEs), ensuring entrepreneurs have access to both financial and technical support.
Supporting Small Businesses and Entrepreneurship
The Minister also reaffirmed the government’s commitment to promoting entrepreneurship by improving access to credit, providing capacity-building, and offering training programs. He mentioned plans to establish a development bank, a key initiative outlined in the government’s manifesto, aimed at supporting SME growth.
The development bank will provide microloans at zero interest and offer guidance to help small businesses grow. We are also creating training programs to assist entrepreneurs in developing strong business plans and qualifying for financing under this initiative,” McCoy said.
He emphasized that these programs are crucial for assisting local businesses in expanding their operations and forming partnerships with global technology leaders like Huawei, thereby boosting Guyana’s role in the international digital economy.
Creating an Inclusive and Transparent Business Environment
Minister McCoy also highlighted the administration’s larger goal of fostering inclusivity, transparency, and efficiency in all business development activities.
He stated, “We are ensuring that the right business environment exists — one that supports innovation, sustainability, and equitable growth.”
The Minister concluded that the ongoing partnership between the government and the private sector is a strong driver of progress, capable of pushing Guyana toward its goal of becoming a fully digitized, globally competitive economy.