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GEORGETOWN, Guyana — President Bharrat Jagdeo has called for a strong partnership with the private sector as part of his government’s effort to move Guyana’s economic development forward in this time of global economic pressures.

Guyana President Bharrat Jagdeo. AFP PHOTO

Addressing the official opening of the annual trade fare and exposition, GUYEXPO 2009 on Thursday evening the president said the life of this partnership is set out in the national development strategy crafted under his administration.

He told the several hundreds of businessmen, diplomats and other citizens gathered for the opening of the sic day event that it is his “firm” belief that for this country to continue along its currently positive developmental path, there must be strong collaboration between private sector and the government.

Jagdeo said during recent conversations with the Private Sector and the Guyana Public Service Union (GPSU) executive they have shown a strong resolve to working with his administration.

“They said to me that they are interested in a partnership going forward, working with the government to create value to crate wealth in out country, I am very optimistic about the future and my government remain on the side of these optimists and we will continue to support those who seek opportunities and are not afraid to take the bid,” Jagdeo said..

He however cautioned that both his administration and the private sector cannot turn their backs on the challenges present.

“Many of our people are hurting because of the financial crisis which resulted from decisions made far from Guyana…collapse of CLICO (Colonial Life Insurance Company) Guyana prove that open economies like ours are not immune from negative global forces," he said.

The president outlined the many challenges the global financial crisis presents for Guyanese businesses and individuals, adding that his government is also cognizant of them.

He said this goes to show that open economies like Guyana are not immune to the impact of negative global events.

“But challenging as recent times have been, we can take pride from the limited impact the global crisis has had on out economy this is not an accident, but the consequences of prudent economic polices which meant that we could withstand much of the economic hocks we experience and which will provide the basis for the next wave of our economic expansion," he said.

As such he urged that as Guyana faces the coming years despite the response of some, its obligation is to protect the lives and jobs of those threatened by the crisis.

Jagdeo says there must also be a focus on the opportunities this meltdown presents for those with a vision.

Recent internationally recognized estimates have shown that Guyana has not been adversely affected by the crisis like its sister Caribbean countries.

This was credited to the many monetary reforms government has undertaken over the past decade.

Source: Caribbean Net News