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Understanding what qualifies as “local” in the draft Local Content Policy (Pt. 1)
Kaieteur News – In light of the fact that the Government will be holding a month-long consultation period for the draft Local Content Policy, Kaieteur News will be highlighting some of the key points you should pay keen attention to.
But before we dive into the provisions of note, it is imperative that one understands the purpose of the document along with the need to ensure certain critical terms are clear.
According to the draft document which is available for perusal on the website of the Natural Resources Ministry, Local Content is often considered the sum of inputs of local goods and services, including employment, provided to oil and gas operations. This occurs when operators hire locals as employees or contractors or buy goods or services from them.
Guyana’s policy must therefore seek to: maximize the level, quality, and benefits of participation in the petroleum sector value chain by Guyanese.
In order to do this, one of the key things one must pay attention to is the definition of local content.
The policy proposes the term Local to mean:
• In the case of Individuals, Citizens of Guyana, as defined under the Constitution of the Co-operative Republic of Guyana Act, Chapter 1:01, 1980, which includes inter alia a person born in Guyana (Article 43) and a person born outside Guyana, who is a child of a parent with Guyanese Citizenship (Article 44).
• In the case of Firms, Companies beneficially majority owned (51%) by Citizens.
• In the case of goods and services, those provided by local individuals or firms. “Guyanese Person” or “Guyanese Citizen” or “Guyanese” means a person or persons who have Guyanese Citizenship under the Constitution of the Co-operative Republic of Guyana Act, Chapter 1:01, 1980, which includes inter alia a person born in Guyana (Article 43) and a person born outside Guyana who is a child of a parent with Guyanese Citizenship (Article 44).
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