Vice President Dr. Bharrat Jagdeo has announced that the government is exploring co-investment opportunities for individuals interested in establishing daycare facilities for children and elderly care homes within their communities.
At a press conference on Thursday, Jagdeo emphasized that such ventures would operate 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.
Acknowledging that the government cannot support the establishment of thousands of facilities, Jagdeo proposed a model that incentivizes community members to create business opportunities in their villages. “This could become a viable business opportunity,” he noted.
The Vice President explained that the government plans to develop a prospectus and co-invest in ventures, allowing individuals to convert parts of their homes into care facilities. These facilities must comply with appropriate standards for quality care. To support affordability and profitability, Jagdeo revealed that the government would eliminate taxes on income earned from these facilities.
For those interested in establishing larger facilities beyond their homes, he indicated that corporate tax would also be removed. Jagdeo believes this initiative will not only address the pressing need for more care facilities but will also empower hundreds of new entrepreneurs throughout the country.
