Local businesses urged to form consortia to better compete in expanding economy

Businesses must form partnerships and consortiums to better compete with major international players, Minister of Public Service, Government Efficiency and Implementation Zulfikar Ally said on Thursday evening, as he described Guyana’s future as “very bright.”

Speaking at the Georgetown Chamber of Commerce and Industry’s (GCCI) 136th Annual Awards Presentation and Gala Dinner, Ally said collective strength is now essential in an economy experiencing rapid expansion. He urged the private sector to deepen collaboration, noting that international competitors increasingly operate through joint ventures and coordinated investment groups.

“You cannot do these things on your own, you need to come together,” the minister said.

Ally praised GCCI President Kathy Smith for advancing consortium-building efforts and said the government is ready to engage closely with these groupings to explore investment opportunities.

He also encouraged businesses to remain innovative and technologically driven, while stressing the importance of treating employees well, describing workforce care as a hallmark of successful companies.

The minister reaffirmed the government’s commitment to strong public-private partnerships, saying national development must be driven jointly as Guyana enters a transformative phase.