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The Presidential Summit on Private Sector Development will commence on May 8. Led by President Bharrat Jagdeo, the summit aims to concretise agreements made between the Government of Guyana and the Private Sector Commission to modernise the country's economy.

A Government Informa-tion Agency (GINA) release said the meeting, under the theme "Words into Action", is the culmination of a seven-month partnership between the government and the private sector to update the National Competitiveness Strategy initiated by the government in July 2005.

The venture began when, during a keynote note speech at the opening of Banks DIH's 50th anniversary celebrations in September 2005, Jagdeo invited the private sector to work alongside the government to identify problems and to find and implement solutions. Since then, hundreds of people have been involved in a series of consultations organised by the group.

In January last, senior government and private sector representatives organised eight high-level working groups focused on improving the environment for private sector investment, strengthening exporters' competitiveness and the public-private dialogue and developing fast-track sectors of the economy.

The recommendations agreed at these workshops will be revealed at the summit. It is also expected that working groups at the summit will focus on the next set of priorities, in particular, preparations for the Cricket World Cup 2007, maximising the opportunities for the Caricom Single Market (CSM), improving access to finance, diversifying the economy and addressing issues pertinent to migration.

The meeting will take place at the International Conference Centre, Turkeyen. Approximately four hundred people have been invited.

Stabroek News
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