More focus must be placed on Local Content Policy - Former PSC Chairman

More focus must be placed on Local Content Policy – Former PSC Chairman

Jun 23, 2018 News

Former Chairman of the Private Sector Commission (PSC), Eddie Boyer, wants more attention to be placed on Guyana’s second draft Local Content Policy.
He said this on Thursday as he delivered his final speech as Chairman of the Commission.
Boyer told those in attendance of the PSC Annual General Meeting that his objective during the year was to ensure that the PSC continues to promote prosperity and economic stability within Guyana, and to champion the Private Sector as a significant element of growth.
He said, too, that much of the focus this year was to become prepared for the mammoth opportunities open to Guyanese businesses, “as our country heralds the influx of oil and gas. The PSC as a group, worked diligently to ensure that our members were aware of these opportunities.”
Boyer continued, “Having said this, I feel that the local content policy must be examined carefully.”
Boyer expressed the view that Guyana’s Local Content Policy should be “balanced and advantageous to all parties concerned. I know that our businesses are achieving the standards required for consideration.”
Many business owners have been lamenting the weaknesses in Guyana’s second draft Local Content Policy. They feel that, in its current state, the policy does not secure much for local businesses.
While he stressed the need for more focus to be placed on the policy, Boyer still complimented government for other initiatives it executed for businesses.
Boyer said, “I applaud our Government for their determination, to address the Public – Private Partnerships in Guyana, and their recognition of the need for co-existence and collaboration.”
He said too, “I take this opportunity, to compliment our Government on a number of its accomplishments, including local government elections, establishment of the Procurement Commission, reduction of Corporate and Personal taxes, increase of the personal threshold and lowering of the VAT percentage.”

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