Preservation of democracy essential to business development

A STABLE political environment coupled with the protection of property rights, freedom of expression, the rule of law, and a skilled workforce are all essential elements of an environment that is conducive for businesses.

This is according to the Head of Region Three Private Sector Inc. (R3PSInc), Halim Khan, who reflected on March, 2020, and the notorious events that followed, resulting in a five-monthlong process in one of the most blatant attacks on democracy.

During those five months, Khan, an elections observer under the

Private Sector Commission and a part of the recount process, said he witnessed the glaring attempts by the then APNU+AFC coalition government to snatch the elections and deny the will of the Guyanese people.

It was not until August 2020 that the true results of the elections were released and Dr. Irfaan Ali was sworn in as the ninth Executive President of Guyana.

Although he inherited a country with a tainted image, Dr. Ali was able to quickly repair the nation’s reputation on the international stage and rebuild confidence in Guyana,

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Further, he related that in a democratic country, property rights are protected by the law, which encourages individuals and businesses to invest in the country.

“This provides an incentive for entrepreneurs to start businesses, knowing that their investments will be protected by the law,” Khan said.

which is now one of the world’s fastest-growing economies, and a key investment and tourist destination.

Khan, in an exclusive interview with this publication, said because of democracy, development can be seen throughout the length and breadth of Guyana.

“A democratic government provides a stable political environment that encourages investment and economic growth. Investors are more likely to invest in a country with a stable political environment because it reduces the risk of sudden policy changes and instability,” the R3PSInc head said.

He continued: “Democracy ensures that individuals and businesses have the freedom to express their opinions without fear of retaliation. This allows for open and constructive dialogue about business policies and practices, which can lead to innovation and improved business practices while democracy also ensures that the rule of law is upheld, which provides businesses with a predictable and transparent legal system. This allows businesses to operate with confidence, knowing that the legal system will protect their interests and enforce contracts.”

Additionally, he said democracy also encourages investment in education and training, which creates a skilled workforce.

“A skilled workforce is essential for businesses to compete in a global market and to innovate and improve their products and services,” Khan related.

He said there must never again be a period in this country when a political party/coalition tries to subvert the democratic process, and the government must ensure all the necessary laws are in place to ensure it never reoccurs.

Praising the assistance of the regional and international community, Khan called for a democratic monument to be built to ensure the past is never forgotten, and the future generation also understands Guyana’s crossroads.