Vice President Dr. Bharrat Jagdeo announced that the government is actively investigating co-investment opportunities for individuals interested in establishing daycare facilities for children and elderly care homes within their communities.
During a press conference on Thursday, Jagdeo emphasized that these initiatives would be tax-free, enabling Guyanese to earn an income while ensuring that their services remain affordable for families.
“We want more women to be trained and enter the workforce, but many struggle to find suitable care for their children. It’s essential that these services are not only affordable but also conveniently located,” he stated.
The Vice President acknowledged that while the government cannot support the establishment of thousands of facilities, there is potential for a model that incentivizes community members to create business opportunities within their villages. “This could be a viable business opportunity,” he noted.
Jagdeo elaborated that the government plans to develop a prospectus and could co-invest in ventures that allow individuals to convert parts of their homes into care facilities. These facilities would need to meet appropriate standards for care work, ensuring quality support for children and the elderly.
To make these ventures both affordable and profitable, he confirmed that the government would eliminate taxes on income generated from these facilities. For those interested in establishing larger facilities, the removal of corporate tax would also be implemented.
Overall, Jagdeo believes this initiative could help address the pressing need for more care facilities while simultaneously supporting hundreds of new entrepreneurs across the nation.
