Economy



The LJP will drive our economy to enable people to fulfil their ambitions through secure and sustainable employment and create the right environment for businesses to grow and thrive.

The LJP will;

» Support the business sector to create future proof sustainable business models

» Create a new work force of educated young Guyanese who do not have to leave Guyana to pursue their careers

» Legalise HEMP to join the global market of environmental entrepreneurs

» Put in place the National Oil Revenue Fund with strict practices to eliminate corruption and make sure that the benefits of Guyana’s resource go back to the people of Guyana

» Establish a National Planning Commission of non-partisan eminent professionals from Academia, Industry, Civil Society, and Government, bringing a wide range of perspectives, experiences and disciplines.

» Establish a National Development Council of non-partisan eminent professionals from Academia, Industry, Civil Society, and Government, bringing a wide range of perspectives, experiences and disciplines.

» Introduce unsecured Trust Loans, at low-interest, of up to Guy$ 300,000 in the first instance, for all legitimate small businesses.

» Set rules for withdrawal from Guyana’s Sovereign Wealth Fund. An annual report on the Fund will be published and laid in Parliament for transparency.

» Facilitating the establishment and regulation of new financial instruments such as crowd- funding platforms where Guyanese and the Diaspora can back local entrepreneurs and earn better yields.

» Encourage companies to give shares to employees at all levels. Where the equity holding of nonmanagerial employees is greater than 15%, the company will receive tax rebates.

» Revise the Minimum Wage to Living-Wage and implement it across all sectors of the economy.

» Bank the un-bankable by offering basic banking services through the Post Office to facilitate the transactions of those who have this difficulty. A revamped existing network of Post offices in Guyana can integrate IT hubs and e-commerce hubs that can effectively provide: electronic Money Transfer; e-Bill Pay; Commercial Banking; Postal Cash Card (a debit card facility); and e-Post. The e-Post service enables people to send and receive messages or scanned images through e-mail from Post offices in the country. With the development of proper infrastructure throughout Guyana these modernized postal services outreach will expedite the development of Micro & SMEs throughout Guyana. Guyana has presently 67 post offices spread out through 10 regions; this number can be increased substantially and the existing facilities can be extensively modernised.

» Restore a minimum deposit rate to encourage banks to put deposits to work in the economy and restore their loan-to-deposit ratios to economically sustainable levels.

» Facilitate the creation of the Sharing Economy.

» Enforce the Procurement Act to ensure greater transparency in the Government’s expenditure on goods and services.

» Ensure that small community firms, small businesses, and those owned by Persons with Disabilities (PWD) have preferred access to Government contracts of Guy$ one million and Below.

» Remove those obstacles that prevent credit unions from playing a greater role in the financial sector and competing with banks for savings and investment.

» Set up Regional Advisory Bureaus to help young people and small businesses access the new business opportunities, assist Guyanese in their financial literacy, commercial decision- making and investments.

» Enable greater access to capital by the small business sector through the establishment of Government funded Business & Industrial Development Bank and Agricultural Development Bank; these banks will be mandated to provide more reasonable and flexible means of security and collateral.

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