The Private Sector Commission and Guyana Manufacturing and Services Association said on Thursday they look forward to local businesses being given opportunities to participate in the oil and gas value chain considering that the sector is poised for significant growth in the coming years.
The business groups said key to this will be meaningful local content and greater transparency in procurement opportunities through unbundling and moving away from sole sourcing so that local businesses can be part of the value chain either directly or through partnerships and joint ventures.
“This is especially the case for mega projects that are expected in the coming years,” PSC and GMSA said.
Just recently, the final report on Guyana’s local content framework was completed and submitted to the government, through Minister of Natural Resources, Vickram Bharrat.
Guyana’s President, Dr. Mohamed Irfaan Ali, had appointed a Local Content Panel that was tasked with conducting consultations and compiling the report. GMSA’s President, Shyam Nokta, chaired the panel.
The GMSA and PSC said they remain committed to working closely with the government to urgently put in place the framework and enabling environment to facilitate local participation in the industry.