Any regulatory hurdles that prevent companies and potential investors from participating in the local stock market will be adjusted in a next term of the People’s Progressive Party/Civic (PPP/C).
Vice President Dr Bharrat Jagdeo revealed this during an interactive youth forum on Friday.
A stock market allows owners of stocks and shares to dispose of them at a fair price, allowing new investors to buy them as well as allowing public limited companies to sell new shares to finance their business.
The Guyana Association of Securities Companies and Intermediaries Inc. (GASCI) is the company responsible for organising and supervising the stock market in Guyana.
When asked if the government will move to create a more competitive and lucrative stock exchange environment, Dr Jagdeo said that the government will address regulatory issues as the market is a private enterprise.
“If there are hurdles to entrance…then we will adjust those hurdles,” he said.
The vice president also said that the possibility of creating incentives for participation in the stock market will be evaluated.
“We want to create a system of incentives and disincentives. So, if you are a public company, you could probably get a break on taxes…[when compared to] a private company. Maybe that will encourage people to go in that direction. We have to explore all the policies,” Dr Jagdeo explained.
Over the last few years, Guyana has opened the door to discussions among international experts concerning leveraging capital markets here in Guyana.
Last month, Dr Jagdeo announced that the government has already begun to explore at least three investment opportunities within the oil and gas sector that any Guyanese will be able to directly invest in.
He noted that the government will create investment vehicles with entry points as low as GYD$50,000 to $100,000.
The vice president emphasised that the goal is to allow small businesses to share in national prosperity while excluding larger companies from these specific opportunities.
In October 2023, Guyana hosted the first Regional Jamaica Stock Exchange (JSE) conference outside of Jamaica.
The meeting provided a platform for key participants of the financial services industry to discuss and present ideas on issues pertinent to the development of the sector and assist in the creation of partnerships and improved understanding between financial institutions.
The creation of these opportunities forms part of the PPP/C government’s aim to financially empower all Guyanese. (Department of Public Information)
