Saturday, September 12, 2009

Doing business in Guyana still tedious–ranked at 101 of 183 countries in World Bank report

Doing business in Guyana still tedious–ranked at 101 of 183 countries in World Bank report

Posted By Stabroek staff On September 11, 2009 @ 5:19 am In Local News | 15 Comments

Guyana ranked 101 out of 183 economies surveyed in this year’s Doing Business report, the seventh in a series of annual reports prepared under the auspices of the World Bank.

Doing Business 2010: Reforming Through Difficult Times, released this month, investigates regulations that enhance business activity and those that constrain it. Guyana’s rank on this index last year was 105 of 181 countries, while for the previous year it was 95.

According to the report, between last year and this year Guyana implemented reforms in two areas that ease doing business here – starting a business and trading across borders.

With regard to starting a business, Guyana’s rank this year was 97, while last year it was 103 and for trading across borders it ranked 76 this year, the same as last year.

“Guyana eased business start-up by applying a flat registration fee for all companies, regardless of their capital amount, and removing the duty payable on incorporation,” the report said. “It also streamlined registration with the tax authorities with the introduction of a single tax identification number for corporate, value added, and labour taxes.

Implementation of an electronic declaration system reduced customs clearance times for exports and imports.”
Guyana’s ranks for the other business indicators this year were: dealing with construction permits (39), employing workers (87), registering property (72), getting credit (150), protecting investors (73), paying taxes (113), enforcing contracts (75) and closing a business (129).

The report noted that setting up a business in Guyana involved procedures that could take more than three months to complete. If for instance, the entrepreneur needed to build a warehouse s/he would have to obtain a building permit from Mayor and City Council which takes 90 days; obtain a planning permit from Central Housing and Planning Authority which takes 90 days and follow up with the Fire Department on a building permit which takes 90 days; receive inspection and obtain approval upon completion of a project from the fire department, which takes 60 days.

Sewage connection takes 43 days; electricity connection, 60 days; water, 14 days and telephone 30 days. It however noted that some of these tasks could be done simultaneously.

In terms of cost, the most prohibitive is electricity connection. This is because in the city enough electricity at the correct voltage is usually not available.

The business would need to secure a transformer and must pay the additional cost for it which is about $500,000.
Meanwhile, regionally, Guyana’s rank placed it at 19 among 32 Latin America and Caribbean countries surveyed. Puerto Rico, St Lucia, Colombia, Chile, Antigua and Barbuda and Mexico were the top five countries in the region. Guyana came in just below Panama, Belize, Trinidad and Tobago, the Dominican Republic and Grenada. The countries at the bottom of the regional table were Honduras, Haiti, Suriname, Bolivia and Venezuela.

The most reformed country in the ease of doing business this year was Rwanda, while Singapore continued to claim the top spot for the third year running. Central African Republic and the Democratic Republic of Congo occupied the bottom spots as they had for the past few years.
15 Comments (Open | Close)

15 Comments To "Doing business in Guyana still tedious"

#1 Comment By freespeech On September 11, 2009 @ 6:08 am

electricity 60 days, telephone 30 days.
what happen to 1 or 2 days. this is not rocket science.
every other bloody thing is 90 days.

i know the employees need their hands grease, for them to start working. “TOTALLY UNACCEPTABLE”
they need to place a bucket of grease at the door so they can use that each morning to get them going. lol.

#2 Comment By Brandon Samaroo (Dissent is the hightest form of patriotism) On September 11, 2009 @ 8:52 am

!7 years, what is the big hee can o mist doing?

Let me hear the stooges holler that I am being too critical of the big boy. 17 years what economic policies to encourage business growth and economic growth both organic and foreign has this government made easier or encouraged.

Please save me the goinvest nonsense that was a step in the right direction that however does not change the laws of the country and improve overall business process and lower the cost of doing business in GY. So save me the nonsense and oh forget the ow laudo 28 years phenc save all the excuses but them in a bank and let them earn lazy interest.

#3 Comment By Truth On September 11, 2009 @ 8:58 am

This report is a more accurate assessment of doing business in Guyana. It is impartial and free of political agenda, unlike the Heritage Foundation’s report which is a conservative think tank spreading unbridled capitalism. The same type of captialism that sent the world into a recession.

Investors take this report seriously when analyzing a country. This is an opportunity for the Government of Guyana to look at areas to improve. Their plan should be to be one to two points more competitive in each area next year.

#4 Comment By rasputin92 On September 11, 2009 @ 9:54 am

“Ask five economists and you’ll get five different answers – six if one went to Harvard.”
– Edgar R. Fiedler, economist.

#5 Comment By Brandon Samaroo (Dissent is the highest form of patriotism) On September 11, 2009 @ 10:19 am

What has the big economist been doing for the past 17 years?

#6 Comment By MXQBH(1 blood donation can save 3 lives) On September 11, 2009 @ 10:25 am

“Tedious” – a euphemism, unless you are able and willing to ‘lubricate’ the process …

#7 Comment By rasputin92 On September 11, 2009 @ 12:44 pm

“The government consists of a gang of men exactly like you and me. They have, taking one with another, no special talent for the business of government; they have only a talent for getting and holding office.”
– H.L. Mencken(1880-1956), American writer.

#8 Comment By amenra[jackass seh de wurl na level] On September 11, 2009 @ 2:01 pm

hey hackett what’s up man see you enjoying yuhself, don’t forget to bring me back some good gt pepper sauce when you coming back to canada, hee hee hee haw.

#9 Comment By amenra[jackass seh de wurl na level] On September 11, 2009 @ 2:02 pm

According to this report it seems guyana is improving alittle.

#10 Comment By Danny DeAbru On September 11, 2009 @ 3:26 pm

I don’t know who to believe because most guyanese that i meet says that they are ‘businessman’& how they know how to run their business’across the borders and in GT.They say ‘runnings always deh’& business is nice.

#11 Comment By Lam Debra On September 11, 2009 @ 3:34 pm

Since migrating I have visited Guyana several times and I must say that customer service is terrible….employees don’t have no hesitation in showing their displeasure at serving you….strupps teeth and rolling eyes of the eyes is not uncommon.These employees make it look as though they are doing you a favour in doing business with you and collecting your money….but the problem lies within management….no training what so ever.

For all that we have to say about the islands….their people are polite. In Barbados they stop for you to cross the road. In Guyana the drivers prefer to knock you down

I have travelled widely,but the worst service I”ve ever received was in Guyana. Ever tried getting info about the schools? Silence.We have a very long to to go in our business encouragement

#12 Comment By freespeech On September 11, 2009 @ 4:04 pm

cakeye it’s not the cost but the “TIME” it takes.
please stop trying to make things that??????????????????????????????????

#13 Comment By freespeech On September 11, 2009 @ 4:06 pm

supply them with some grease or differential gear oil.

#14 Comment By Brandon Samaroo (Dissent is the hightest form of patriotism) On September 11, 2009 @ 5:42 pm

how much lube you need down there hack?

#15 Comment By Bung Nabel On September 11, 2009 @ 6:36 pm

Hey Brandon: Don’t forget that along with the lube, send some Preparation H. Doing business in GY in a pain in the exhaust system.

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