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GUYANA: An offshore financial centre?

September 7, 2010 Leave a comment

The Majestic Kaieteur Falls

By: Andrea Proctor

GEORGETOWN –Somewhere in the heart of sunny Georgetown Guyana, there are murmurings about developing Guyana into an Offshore Financial Centre (“OFC”), with a focus on Offshore Banking. OFCs provide low or no tax jurisdictions, along with excellent commercial and corporate services to non-resident companies and individuals. Residents of an OFC typically experience a higher standard of living.

No one would argue that Guyana needs a sound and sustainable plan to attract capital, resources and investment to its shores. However, ideas of such magnitude should not be embraced or indeed dismissed without in-depth analysis.

The Guyanese experience

All Guyanese know that it is the careful preparation that makes any meal a success.

Guyana’s reputation as a stable political, social and economic destination will have to be carefully and firmly established before it could succeed as an OFC.

Despite the reports that Guyana has experienced moderate economic growth in recent years, it must project an image of sustained development and economic maturity before foreign banks and businesses will seriously consider migrating to its soils. The nation will at the very least, need to make a greater effort to restore basic humanities, provide reliable utilities, manage its waste collection and disposal, and do what it takes to remove itself from certain “Watch Lists” and a variety of other coloured lists.

Genuine buy-in from, and consultation with, all major political parties, relevant industry bodies and stakeholders, and a willingness to progress such a proposal at a national, unified, level will be essential. Even with the greatest political will, this is not going to be a 4 year project.

What’s the Attraction?

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US Senator Taps Guyanese National For Communications Job

August 27, 2010 Leave a comment

Errol Cockfield

By: Bevan Springer

NEW YORK/GEORGETOWN – Errol Cockfield, who was born in Guyana and also lived in Trinidad before emigrating to the US at age 10, will run communications for Democrats in the New York State Senate, beginning early September.

Senator John Sampson, the Democrat Majority Conference Leader, who also has Guyanese heritage, has recruited the 36 year-old Cockfield as Communications Director of the Senate Democratic Majority.

Cockfield holds a Bachelor’s in English with a minor in Journalism from SUNY Stony Brook and went on to head Newsday’s Albany Bureau and worked as a staff writer at the Los Angeles Times.

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 Guyana seeks more male teachers as role models

August 7, 2010 Leave a comment

GEORGETOWN (AP) —Guyana is launching a campaign to draw more men to teach in the classroom, saying students have very few male role models.

Education Minister Shaik Baksh says the World Bank is helping fund the campaign, although he hasn’t disclosed financial details.

A statement issued Saturday by Baksh says the government will hold job fairs and run newspaper ads as part of the campaign, called “Be a Man, Teach Guyana.”

According to Baksh, Guyana has one male teacher for every seven female ones at the primary school level and a 1-to-2 ratio in high schools.

Categories: Education