AI Issue 5 2017

30 Acquisition International - May 2017 The Guyana Office for Investment (GO-Invest) is the primary service provider to local and foreign investors and exporters alike. As a recent recipient of the Leading Advisors of the Year – Guyana, CEO Owen Verwey provides a fascinating insight into the crucial work of this government agency. O-Invest’s mission is to, “contribute to Guyana’s economic development by promoting and facilitating local and foreign private-sector investment and exports in accordance with the country’s approved investment and export strategies.” This government office falls under the purview of the Ministry of Business. The agency was established in 1994 to stimulate, facilitate, and promote the development of trade and industry, especially the diversification of investment activities in all sectors of the Guyanese economy. CEO Owen Verwey then tells us more about what GO-Invest does and offers his thoughts on winning the Leading Advisors of the Year – Guyana award. “GO-Invest offers sound technical advice on the process and steps to doing business in Guyana. GO-Invest is also the agency legally mandated to draft the Investment Agreement between the Government of Guyana and the Investor (foreign and local). The Investment Agreement allows for Investors to access fiscal incentives. “Additionally, The GO-Invest Export Promotion Division works closely with investors and supports businesses in seeking export opportunities in overseas markets. The division helps current and potential exporters to promote their products and services in national and international exhibitions, trade fairs, and region- specific and country-specific trade missions. “On winning the Leading Advisors of the Year - Guyana award, this is indeed apt at this point, as GO-Invest is the leading investment facilitation and Export Promotion Agency in this country. In fact, it is the sole Investment Promotion Agency in Guyana. All services offered by GO-Invest are free of cost.” The Guyana Office for Investment (GO-Invest) has two main functions. Each one is carried out by individual departments. These are Investment Facilitation Division and the Export Promotion Division. Owen then tells us about his own interesting role at GO-Invest and what this involves. Company: Guyana Office for Investment (GO-Invest) Name: Owen Verwey Email: [email protected] Web: www.goinvest.gov.gy Address: 190 Camp and Church Streets, Georgetown, Guyana Telephone: +592 227 0653, +592 225 0658 Fax: +592 225 0655 Invest for Success G 1702AI25 “I provide advice and guidance to investors who are entering or looking to expand their business and projects so as to ensure the interest of both the Investor and the Government is served. I bring together major economic knowledge, local demographic knowledge, augmenting the business and a political awareness and knowledge of government processes. Additionally, I have public, private, local and international experience in investment.” GO-Invest’s Investment facilitation services are: • Liaising with government agencies to support investors; • Assisting investors with necessary steps to commence business operations; • Advising on relevant investment incentives and regulation; • Coordinating joint ventures and; • Investment policy advocacy. Their export promotion services include: • Providing information on trade opportunities; • Assisting in promoting products locally and internationally; • Liaison with relevant agencies to address export problems; • Export policy advocacy and; • Identifying and addressing export needs of private sector firms. The important behind the scenes work that advisors carry out are information sharing, networking as well as the technical ability to easily complete high level due diligence and analytical assessment of business models or investment opportunities Owen underlines. He adds that simplifying the process and time for investment decisions or project implementation is another vital aspect of an advisor’s work. “Experts are able to get access to decision makers, ability to understand decisions and urgency for decisions and generally provide the necessary assistance at a very high level to ensure the success of projects” he tells us. Owen then highlights the type of clients GO-Invest serve, and the vital role of the staff under his authority play. “GO-Invest serve both domestic and foreign investors and exporters. GO-Invest has an open- door policy, whereby investors and exporters are free to approach the agency at any time and will receive the assistance they require. Additionally, “The staff of GO-Invest are credited with the success of the agency, as they are a small group of expert individuals , able to offer accurate advice and guidance .”