Ministry of Business Strategic Action Plan Slides

Ministry of Business October, 2015

Strategic Action Plan (September 2015 – December 2016)

INTRODUCTION • The Ministry of Business was created on 1 September 2015 and is dedicated to providing the support and representation needed for Guyanese businesses to thrive.

• It is recognized that the business agenda is central to achieving inclusive growth and national unity.

• On 26 September 2015, the UN General Assembly adopted the Sustainable Development Goals (SDGs). The Ministry of Business will make an important contribution to achieving all the specific goals and targets, especially under Goal 8, which is to: “Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all”.

INTRODUCTION (CONT’D) Our strategic action plan explains how we intend to fulfil our mandate over the next five years and ensure that the SDGs relevant to us our on track by 2030. The plan includes two parts: 1) Action plan with the concrete steps the Ministry will take to promote business development during September 2015- December 2016 2) Time-line for the finalization of the Ministry of Business costed 2016-2020 strategic plan, which will be completed with the assistance of the UNDP

We recognize government’s important role in providing the foundations for the growth of Guyanese businesses, in order that our development path is sustainable over the long-term.

THE IMPORTANCE OF BUSINESSES TO THE GUYANESE ECONOMY Businesses are the major sources of GDP, income and investments in Guyana

The private sector accounts for over 80% of total expenditure and contributes over twice the public sector’s level of investment in new capital .

Businesses are Guyana’s major employer

It is estimated that around 2/3 of workers are employed in either the formal or the informal business sector

Businesses are the greatest source of Government revenue

In 2014 over 80% or $163bn of our revenue was generated by taxes , and most of this was paid to the Government directly by businesses

MANDATE OF THE MINISTRY OF BUSINESS The mandate of the Ministry of Business was outlined in the extraordinary Official Gazette of 6th June 2015 as follows: Investment promotion

Ministry of Business

Sustainable development

Work force enhancement Export promotion

SITUATIONAL ANALYSIS -

Investment Promotion

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To promote investment we need a transformation of GO-Invest, and also improvements to business environment over the long term The most effective way to increase investment is to enhance the ease of doing business in Guyana and to transform GO-Invest into a modern investment promotion agency

- Guyana is determined to achieve all the Sustainable Development Goals (SDGs)

Sustainable Development

and their targets. The Ministry of Business will make a significant contribution to achieving all these objectives, particularly those under Goal 8, which is to: “Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all�.

SITUATIONAL ANALYSIS (CONT’D)

Work Force Enhancement

Export Promotion

- Policies to create high-quality jobs relate positively to economic growth -Better quality primary and secondary education would make us more competitive. Businesses identify retaining skilled workers as a key challenge -Businesses are Guyana’s largest employer and should be involved in the design of labour market policies to make them more effective -Small businesses make a critical contribution to employment and poverty reduction, especially for vulnerable groups. Access to credit is one of their main constraints to growth

- An increase in exports will make an important contribution to reducing Guyana’s current account deficit, which was US$371 in 2014 - Guyana is still heavily dependent on exports of gold, bauxite, sugar, rice and timber. Export promotion has most long-term potential in secondary and tertiary industries (manufacturing and services).

-The harmonization of domestic and international standards is positively related to export growth

MINISTRY OF BUSINESS THEMATIC GOALS Based on our situational analysis, we have identified the following five goals to fulfil our mandate:

Goal 1: Improve the ease of doing business in Guyana Goal 2: Attract increased foreign investments in our economy

Goal 3: Support the development and exports of value-added industries

Goal 4: Increase the economic opportunities and capabilities of vulnerable groups

Goal 4: Expand our capacity to develop and promote sustainable business-friendly policies

STRUCTURE OF THE MINISTRY National Exhibition Centre

Guyana Office for Investment (GO-Invest) Guyana National Bureau of Standards (GNBS)

Department of Commerce

Department of Industry

Ministry of Business

Small Business Bureau (SBB)

ORGANIZATIONAL STRUCTURE OF THE MINISTRY

Minister Of Business

Minister's Secretariat Permanent Secretary

Deputy Permanent Secretary

Business Strategy and Policy [chief policy officer]

Public Relations

ICT

Commerce (Licensing)

Accounts

Industry

Admin

Personnel

National Exhibition Centre

Registry

GNBS

SBB

GO-Invest

(Through the National Standards Council)

(Through the Small Business Council)

(Through the Board of Directors)

2016-2020 STRATEGIC PLAN This strategic action plan was influenced by the consultation on our draft strategic framework, which was held with public and private stakeholders in August 2015.

Following this consultation, the Ministry decided to produce a more detailed 2016-2020 strategic plan to be ready by April 2016. The UNDP has agreed to assist in the development of this plan through the provision of a suitable consultant.

The planning process will include thorough consultations with relevant counterparts and stakeholders. The draft plan will be presented at an open consultation. The final plan for the period 2016-2020 will include institutional arrangements and costings, which will form the basis for our 2017 budget formulation process

TIMELINE FOR RELEASE

November 2015

•Consultation commences

December 2015 •Inception report received and uploaded to Ministry website for comment

February-March 2016 •Open consultation on draft plan

April 2016 •Final plan is received

May 2016 •Preparations for incorporating the strategic plan in 2017 budget submission

MONITORING AND EVALUATION This Ministry of Business Monitoring and Evaluation (M&E) framework articulates the systems and data which we use to measure our performance and to report on our progress to the public. The Ministry of Business believes that M&E is essential to enhancing performance and that all staff should be involved.

The Ministry’s M&E framework is based on an implicit “Theory of Change” which demonstrates how our activities are expected to lead to long-term impacts. A “Theory of Change” is a model mapping the inputs, activities, outputs, outcomes and goals for a project or organization. Our M&E system is outlined on the following page.

THANK YOU! Should you have any questions or comments, kindly contact Ministry of Business Strategic Planning Committee Tel: 223-5296 / 226 2505 Email: ministrybusinesscrg@gmail.com Address: 229 South Road, Lacytown, Georgetown.