Mr. Martins/ October 6, 2018/ Business Tips, Georgetown, Guyana/ 0 comments

Recently, Guyana has experienced the emergence of a small, but growing IT-enabled Services industry with both domestic and foreign investment in call centres and back-office processing operations. Some of the investors have included Guyana as part of a network of business process outsourcing (BPO) centres located in Latin America. Presently there are six (6) Business Process Outsourcing (call centres) companies in Guyana doing Outbound Sales / Telemarketing, Inbound Customer Support, Voicemail Transcription, Medical Records Transcription and Data Warehousing. This sector currently employs approximately four thousand (4000) persons.
Although not widely known as a location for BPO, Guyana possesses a number of advantages that make it an ideal location for IT-Enabled services:
Openness to Investment – Both public and private sector leaders have declared Guyana “open for business”. Foreign investors receive the same treatment as domestic investors. Guyana provides an array of across-the-board investment incentives, including a flat business tax rate, tax holidays, waiver of customs duties, Value Added Tax (VAT) and Excise Tax, Export Tax allowances and unrestricted repatriation of profits, as well as additional incentives in priority export sectors. Furthermore, the Guyana Office for Investment, Go-Invest provides effective support to investors before, during and after an investment has been realized.
Location – Guyana’s unique geographic positioning and its socio-political heritage put it at the gateway of South America and the Caribbean. On one hand, its Caribbean and English-speaking heritage enables Guyana to be part of the Caribbean Community (CARICOM), while on the other, it is a South American country, neighboring two of the most important economies on the continent – Brazil and Venezuela. As a result of its geographic proximity, Guyana has easy access to 311 million consumers and a US$409+ billion export market with an overall purchasing power of over US$2 trillion.
Language – Guyana is the only English-speaking nation in South America. Investors contemplating the installation and operation of service enterprises will find this a distinct advantage. This is especially true for those involved in the growing IT and Business Process Outsourcing (BPO) markets in North America, as well as businesses conducting operations to support the activities of large corporations worldwide, and those serving English-speaking tourism markets.
Affordable Labor – Guyana has one of the most competitive wage rates when compared to Latin America and the Caribbean. The labor force is well educated, with a high literacy rate, and is regarded as trainable and hard-working.
The Government of Guyana will facilitate negotiations with the utility companies (Guyana Power & Light, Guyana Telephone & Telegraph Company and the Guyana Water Authority) for the timely supply of electricity, telecommunications and an adequate water supply to support employees.
Tax Holiday
The company will enjoy a full exemption from corporate taxes for a 10-year period, which will begin from the first year of commercial operation.
The Government of Guyana is eager to attract further investment in this area. Not only is the Government providing attractive incentives for investors, it is also taking steps to improve the regulatory framework for sectors utilizing ICT for services targeting domestic and international markets through the development of policy strategies for ICT and E-Commerce.

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About Mr. Martins

Greetings to All! My Professional Career as a Freelance Webdesigner spans more than 17 years, from 1999 (New York City). In University I studied Computer Science, but what I've learned about WebDesign has been from following Tutorials and Studying on my own accord and pushed forward always by a hunger for #DigitalKnowledge and the #KnowHow of Developing functional and Successful Websites. #IAMWebDesign so if you are in need of a spectacular website, drop me a note.

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