Predictable Regulation Key for Foreign Firms in Guyana, US Ambassador Says
Predictable regulation matters to foreign firms in Guyana, US Ambassador Nicole Theriot says, urging a modern tender process and faster tax refunds. The post Predictable Regulation Key for Foreign Firms in Guyana, US Ambassador Says appeared first on The Rio Times .
The US ambassador based in Georgetown, Nicole Theriot, emphasized the importance of predictable regulation for foreign companies operating in Guyana during a recent podcast discussion. She identified two key areas for improvement: a modern public tender process for state contracts and faster handling of tax filings and refunds by the Guyana Revenue Authority (GRA).
Theriot praised President Irfaan Ali's commitment to reform, acknowledging that progress would require some time. She stated that a stable regulatory environment is crucial for international businesses and highlighted the existing strides made by Guyanese firms in meeting international standards through collaboration with US partners.
Theriot also announced plans for two US-led projects: a US$150 million bauxite mining venture and a TriStar port expansion on the Demerara River, which could cost US$250 million. The GRA has pledged to accept online tax payments via Mobile Money Guyana and debit cards by the end of 2026, with an electronic procurement system expected by year-end. These initiatives aim to enhance transparency and efficiency in public procurement processes.
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