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Business group says it fully supports ‘strong action’ against companies skirting local content law

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Guyana’s Private Sector Commission said on Wednesday that it supports the government taking “strong action” against companies trying to circumvent the Local Content Act.

The Act was passed in December, and contains provisions aimed at increasing Guyanese participation in the oil and gas sector.

“The PSC is concerned by the ongoing practice to bundle contracts which often limits local businesses participating in the value chain,” it said. Minister of Natural Resources, Vickram Bharrat raised this issue during a meet with companies in May.

The PSC said the government is showing that it is committed to ensuring Guyanese benefit from the industry, but that the business community has to support the local content law’s implementation.

It said it will continue to advocate to ensure the law serves its purpose, to aid utilisation of Guyanese goods and services, support skills development, and provides for training and employment of citizens. The PSC also encouraged local businesses to get registered by visiting the Local Content Secretariat at 116-117 Cowan Street, Kingston, Georgetown and share their experiences regarding local content.

Notably, the PSC’s statement published shortly after Ramps Logistics Guyana Inc., an affiliate of the Trinidadian RAMPS Logistics, said it was denied local content certification by the government of Guyana, despite meeting all the requirements.

The certificate, a feature of the Local Content Act, would have allowed Ramps to operate as a local company, accessing opportunities reserved for Guyanese companies.

Ramps is expected to hold a press conference on Thursday to explain findings it said should be of interest to investors.

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