Georgetown Chamber of Commerce and Industry (GCCI) President Kathy Smith on Thursday urged foreign and regional investors to actively partner with Guyana’s micro, small and medium-sized enterprises (MSMEs), cautioning against concentrating opportunities among only large firms.
She delivered the remarks at SBM Offshore Guyana’s “Let’s Talk Local Content” Forum on day three (February 19) of the Guyana Energy Conference and Supply Chain Expo at the Guyana Marriott Hotel.
Addressing investors directly, Smith said, “I want to encourage you foreign investors and regional investors, I know it’s easy for you to find a large business and partner with…because they have the capacity, they have the capital, they have the resources, but I want to tell you, do not underestimate the micro, small, medium-sized enterprises.”
She described MSMEs as critical to sustaining local content. “These are the champions. They are the innovators. They are the ones with technical skills, and they are the ones willing to get the job done over and over and over,” Smith said.
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Her comments came against the backdrop of Guyana’s Local Content Act, which identifies 40 areas reserved for Guyanese companies. Smith said GCCI was among the first private sector bodies to push for the legislation following the offshore oil discovery. She noted that the framework is now in place and opportunities exist, but businesses must position themselves to benefit.
“Companies, you have to meet industry standards,” she urged. “Please meet industry standards.”
She outlined steps taken by GCCI to prepare members, including compliance sessions with the Guyana Revenue Authority, the National Insurance Scheme and relevant ministries, as well as engagements with major operators such as ExxonMobil and SBM Offshore Guyana.
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Smith also pointed to progress in the energy sector, including employment of thousands of Guyanese contractors, internship programs, and the establishment of the Guyana Technical Training College in Berbice to support workforce development. Returning to her message to investors, she urged them to expand their partnership lens.
“Do not leave here without finding one of these small business departments,” Smith said.
