Press Release: GMSA and Ernst & Young Services Limited Join Forces to Prepare Businesses for Regulatory Changes, Ahead of Guyana’s Data Protection Act
Georgetown, Guyana, January 19, 2024 – The Guyana Manufacturing & Services Association (GMSA) collaborated with Ernst & Young Services Limited on Thursday, January 18, 2024, to host an enlightening event centred around data privacy. The interactive session, facilitated by key players in technology consulting and global compliance from Ernst & Young (EY), aimed to prepare businesses for the impending enforcement of the Guyana Data Protection Act 18 of 2023 and the establishment of a Data Protection Office.
The event welcomed both in-person and virtual attendees, with the GMSA ICT Sub-Sector Chairman, Chet Bowling, emphasising the critical importance of prioritising data privacy in day-to-day business operations. The chairman set the stage for the engaging session that followed, articulating why businesses should make data privacy a top priority.
Privacy Explained
The event featured insights from the Executive Director and Cybersecurity Lead at EY Trinidad, Anil Persad, who delved into the fundamental concepts of privacy. Attendees gained a comprehensive understanding of the principles underlying data protection, setting the stage for the subsequent discussions on compliance. “Concerns about personal data protection and the ways companies use personal information to power the digital economy are driving lawmakers and regulators to ramp up data privacy and protection laws, revise statutes, and debate new rules,” said the Executive Director.
Navigating the Data Protection Act: Key Players and Responsibilities
Candace Lopez, Global Compliance EY Law (Guyana and Trinidad), provided a detailed overview of key terms and responsibilities outlined in the Guyana Data Protection Act 2023. Emphasising the role of the data controller, she explained that the data controller is any person (individual or a corporate body) or public authority who determines the purpose for which personal data is or should be processed, or any person (natural or legal) on whom the obligation to process data is imposed by or under any law. Candace noted that the responsibility lies with the data controller to demonstrate compliance with the Act’s provisions regarding data processing practices.
Preparing for Compliance: A Roadmap for Businesses
After an overview of the Data Protection Act’s specifics, businesses were guided on the next crucial steps towards compliance. Justin Morin, Executive Director, Technology Consulting of EY Jamaica, underscored the urgency for companies to act promptly. Justin outlined a comprehensive roadmap, highlighting the need for businesses to:
- Allocate resources to define a privacy program that complies with the law and generates value.
- Consult a privacy practitioner for expert guidance.
- Sensitise staff about the significance of privacy in their roles.
The Executive Director stressed the need for businesses to integrate privacy best practices and operate with privacy as the new normal.
Looking Ahead: Privacy as the New Normal for Businesses
The event reinforced the idea that privacy should be ingrained in the fabric of business operations. Operating with privacy as the new normal was highlighted as a key takeaway for all businesses, preparing them to navigate the evolving landscape of data protection regulations.
The collaboration between GMSA and Ernst & Young Services Limited showcased a commitment to fostering awareness and readiness among businesses as they braced for the Guyana Data Protection Act. This event is the beginning of a series of initiatives aimed at equipping businesses with the necessary tools and knowledge to protect customer data and comply with data protection regulations. It serves as a testament to the proactive approach needed to navigate the evolving landscape of data privacy.
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Press Release: GMSA COMMENDS GOVERNMENT OF GUYANA ON BUDGET 2024
Georgetown, Guyana, January 16, 2023: The Guyana Manufacturing and Services Association (GMSA) commends the Government of Guyana for its proactive and forward-thinking plans presented in the National Budget 2024, under the theme “Staying the Course: Building Prosperity for All”. By allocating an unprecedented 1.1 trillion Guyana dollars, the association acknowledges the government’s commitment to fostering economic growth and development in Guyana.
The GMSA is particularly pleased with the emphasis placed on supporting the manufacturing sector, as this will undoubtedly create new opportunities for local businesses and contribute to job creation. The growth in non-oil real GDP in 2023 by 11.7% has resulted in the expansion of the manufacturing sector by 25% and services by 10.3%. This hereby reaffirms private sector and manufacturing resilience, despite challenges in
the global economy.
The continuing development of current transformative infrastructure is key to enabling business activity and delivery. Such key infrastructures include enhancements to the energy grid, incorporating developments like the Gas-to-Energy project and solar and hydro initiatives. Equally significant are transformative land infrastructures, including the Demerara Harbour Bridge, the Schoonord to Crane highway, and the Ogle to Soesdyke Linden highway. These initiatives collectively contribute to fostering a conducive environment for business operations.
Government’s inclusion of some of the association’s recommendations assured the intention to work collaboratively with the private sector. The measures below are essential in supporting the manufacturing and services sectors:
- $527.4 million for the development of the agro-processing sector. The GMSA anticipates that this strategic investment will provide manufacturers with the necessary infrastructure to enhance their production capabilities and meet growing market demands.
- $3.3 billion for the development and rehabilitation of industrial estates in Wales (Region 3), Regions 2 and 10. The GMSA believes the development of these estates will further support the growth of manufacturing in Guyana.
- $450 million towards the replenishment of the Small Business Bureau (SBB) Fund, which the GMSA has continuously advocated for in order to support product enhancement and growth in the agriculture and agro-processing industries. It will also enable businesses to attend regional and international trade fairs and events. Entrepreneurs will also benefit from training and mentorship.
- $500 million for the Food and Drugs Lab, which the GMSA believes will strengthen regulatory bodies and accredit laboratories to do testing, inspection, and certification of products for exportation.
- Over $8 billion for the development of human resources to fund tertiary education through Guyana Online Academy of Learning (GOAL) and the University of Guyana (UG), and a further 2.8 billion to develop skills training (Technical and Vocational Education and Training (TVET) and Caribbean Vocational Qualification (CVG)). This, the GMSA believes, will address the shortage of skills and manpower in the country while simultaneously enhancing the workforce through upskilling initiatives.
- Containing the cost of fuel at 0% excise tax and extending the reduction of freight charges for another 12 months, which will assist businesses to be more competitive on the local and global market and mitigate challenges.
- Increasing the income tax threshold to $100,000 monthly, thereby adding $4.8 billion in disposable income to the working population.
GMSA remains open and committed to working with the Government to foster a thriving business landscape and a prosperous future for Guyana.
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Workplace safety, enhanced relationship needed to prepare businesses for economic development – U.S. Ambassador
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The promotion of physical and physiological safety in workplace and enhanced company-to-company relationship are key aspects to prepare businesses for the economic growth and transformation being experienced in Guyana.
And as the partnership between the United States (US) and Guyana continues to strengthen, U.S. Ambassador to Guyana, Nicole Theriot has promised to work towards the promotion of inclusive growth.
The diplomat made the pledged as she was addressing the Guyana Manufacturing and Services Association (GMSA) 28th annual awards and dinner held at the Marriott Hotel, Georgetown on Tuesday night.
“Capacity building and training across the different sectors serves as an important part in preparing Guyanese companies for the economy of the future.
“The private sector has been deeply involved in this…but there is more work to be done. With organisations like GMSA, we can work together to promote physical and physiological safety in the workplace…The other part of the plan is to deepen company-to-company relationships,” Ambassador Theriot said.
Highlighting that the energy sector has been a catalyst for Guyana’s remarkable growth, the Ambassador said investment and fostering other sectors are equally important.
“Economic growth does not always result in economic diversification. It’s something that you have to make a certain effort to do…Economic diversification is achieved by enacting policies that enables private sector growth, welcome private investment and deepened commercial bridges,” she said.
Ambassador Theriot noted that the GMSA continues to advocate on behalf of businesses in Guyana.
“The GMSA plays an important role in Guyana’s continued development as well as the country’s economic diversification and during your corporate social responsibility initiatives and civic leadership, the GMSA has prioritised inclusive growth aimed at uplifting everyone as Guyana’s economy transform.”
Ambassador Theriot further noted that the U.S. Embassy has added a Department of Commerce to its structure. The department, she said focuses on helping U.S. companies to bring quality solutions to the local marketplace, especially with the “crucial” local content requirements.
Meanwhile, in his remarks, President of the GMSA, Ramsay Ali said partnerships and engagements have increased with regional and international companies.
He said local companies also continue to strive. But as the economy continues to grow and develop at a rapid pace, Ali said there are gaps that need to be filled to cater for future development.
“A lot is happening in the country and there are a lot of gaps…we have to gear up for what is going to take place in the country,” he said.
Reflecting on 2023, Ali said 30 of GMSA members were certified by the Guyana National Bureau of Standards (GNBS) to carry the ‘Made in Guyana’ stamp on their products.
He said they have also facilitated and participated in a number of trade visits and business-to-business meetings with regional and international companies.
And in 2024, Ali said the most anticipated event is the ‘GMSA Impack Manufacturers’ Summit’ which is aimed at promoting Guyana as a manufacturing destination.
Meanwhile, at Tuesday’s event, a number of local companies were recognised for their contribution and service to the manufacturing sector.
Awards were given for GMSA Start-Up business, GMSA new technology in business, GMSA innovation and creativity award, significant contribution to the oil and gas sector and distinguished service to the manufacturing sector among other categories.
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As local businesses embrace technology, focus shifts to cyber security
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Local businesses are embracing technology as a way to make their services more efficient and competitive. With more businesses integrating technology into their operations though, cyber security is now a huge focus.
This was made clear at a technology conference organised on Thursday by the Guyana Manufacturing and Services Association (GMSA) in collaboration with the Private Sector Commission (PSC) and the Georgetown Chamber of Commerce (GCCI).
At the conference, several business leaders underscored the need for more Guyanese firms to integrate technology into their day-to-day operations.
GCCI’s Treasurer Orson Ferguson told fellow business leaders and students at the conference that technology is needed more than ever before to help local businesses become more competitive amid the influx of international firms.
“Unless local businesses become more and more competitive, we are going to get eaten up by our global competitors,” Ferguson emphasised.
But even as companies leverage technology, he said they should be wary of protecting the data garnered and generated. As such, Ferguson said a focus on cyber security was crucial too.
Prime Minister Brigadier (Ret’d) Mark Phillips agreed.
According to him, the government is mainstreaming technology in the delivery of services but cyber security has not been forgotten.
“In Guyana, our focus on cyber security is evident in our attempts to enact transformative legislation.
“The Data Protection Act of 2023 and the Digital Identity Card Act of 2023 seek to protect personal data and privacy rights while empowering people,” the Prime Minister said.
He reminded the gathering that Guyana’s transforming landscape makes persons more vulnerable to data breaches. As such, stakeholders must all take the necessary steps to protect their data while leveraging the myriad of benefits technology provides.
The Prime Minister also told the gathering that Information and Communication Technology (ICT) is a crucial part of the government’s efforts to fortify security and combat various types of crimes including cybercrimes.
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The Guyana Manufacturing and Services Association endorses the unity of the government and opposition in condemning Venezuela’s violations of international law
Georgetown, Guyana – 25 October 2023 – The Guyana Manufacturing and Services Association (GMSA) is pleased to learn that Guyana’s government and opposition have joined forces to oppose Venezuela’s ongoing efforts to undermine Guyana’s sovereignty and territorial integrity. On Tuesday, October 24, 2023, His Excellency Dr. Mohamed Irfaan Ali, President of the Cooperative Republic of Guyana, and Mr. Aubrey C. Norton, MP, Leader of the Opposition, jointly denounced Venezuela’s planned December 3 referendum to make Guyana’s Essequibo County a state.
The GMSA recognizes that the unity of these two political parties is beneficial for the country and its citizens. Their joint statement reaffirms their commitment to safeguarding Guyana’s interests and ensuring a peaceful and prosperous future for all Guyanese citizens. President Ali and Opposition Leader Norton have demonstrated their commitment to fighting Venezuela’s relentless attempts to undermine Guyana’s development.
The association also appreciates the international community’s support in condemning Venezuela’s actions and standing in solidarity with Guyana. This support further strengthens the country’s position and sends a clear message that any aggression towards Guyana will not be tolerated.
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