Businesses welcome Govt.’s local content plans

Aug 16, 2020 News

GCCI President, Nicholas Deygoo-Boyer

The Georgetown Chamber of Commerce and Industry (GCCI) and the Guyana Manufacturing & Service Association (GMSA) have jointly noted that they are pleased with the Government’s decision to pursue local content legislation.
The duo stated that it is willing to work with the Government to maximise opportunities for Guyanese businesses in the oil and gas sector, and to develop the private sector.
Vice President Bharrat Jagdeo had noted during a press conference on Friday that the Government did not find any framework in place to monitor local content, save for a few policy papers.
As a result, the Government has decided to pursue legislation to hold oil companies and their sub-contractors accountable.
The Government has engaged Trinidadian local content expert and energy strategist, Anthony Paul, to assist.
The President is expected to take a hands-on approach to dealing with consultations for the intended legislation.
Jagdeo noted that ExxonMobil and its sub-contractors will have to demonstrate their commitment to the people of Guyana.

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