The Ministry of Tourism, Industry and Commerce has established two business registration hubs in Mabaruma, Region One (Barima-Waini) and Bartica, Region Seven (Cuyuni-Mazaruni), to streamline the business registration process in areas without a commercial registry and sub-offices.
Mabaruma’s hub is located in the Regional Democratic Council office, while the other is located in the Bartica Chamber of Commerce building.
Speaking to DPI, Commerce Department Director Nicola Namdeo said this approach would give business owners easier access to key Government services in a more convenient way.
The hubs were established following the signing of a Memorandum of Understanding between the Ministry through its Department of Commerce, and the Commercial Registry.
Namdeo said business owners can visit the various offices to submit their applications and pay the necessary fees. With this initiative, the processing time has been reduced to one week, in accordance with the Memorandum of Understanding.
The Memorandum of Understanding for the Mabaruma location was signed on December 29, but even though the office in Bartica was established, the signing of the Memorandum of Understanding was postponed due to COVID-19 travel restrictions. Namdeo expects the signing to be done soon with restrictions lifted for this new year.
More than 30 businesses are expected to benefit from the service in Bartica. About 22 businesses are waiting to be registered after signing the Memorandum of Understanding.
In 2017, the then Ministry of Business has created hubs in Regions Six (East-Berbice Corentyne); Eight (Potaro-Siparuta) and Nine (Upper Takatu-Essequibo Upper). To date, 773 businesses have registered, while 186 businesses have renewed their registrations in the various regions from 2017-2020.
Despite the pandemic, the hubs have continued to operate. However, the use of the hub for business registration fell by 13 percent in 2020 compared to 2019. Furthermore, the number of renewals fell by 62 percent in 2020 compared to 2019.