GCCI welcomes special development zones, e-wallet and junior stock exchange

The Georgetown Chamber of Commerce and Industry (GCCI) has welcomed the announcement of special development zones, a national e-wallet and a planned Junior Stock Exchange, saying the measures would support entrepreneurship and private sector growth.

The initiatives were outlined by President Mohamed Irfaan Ali during his address to the nation at the Arthur Chung Conference Centre on Tuesday.

The Chamber noted that the measures form part of a broader package aimed at creating a more inclusive business environment.

The GCCI said the initiatives place emphasis on micro enterprises, women-owned businesses and persons living with disabilities, which it described as critical to broadening participation in the economy.

The Chamber also welcomed plans to introduce a flat tax on double-cab pick-ups, saying the move would improve access to suitable transportation for businesses operating in construction, agriculture and logistics.

The GCCI said it remains committed to advocating on behalf of the business community and will continue to work with the government on the implementation of programmes aimed at advancing private sector development.