Sunday, February 5, 2023

Guyana businesses want local content legislation – GCCI President

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President of the Georgetown Chamber of Commerce and Industry, Deodat Indar, says that the business community in the South American country would like to see, at the very least, some degree of legislation enacted for local content rather than a full policy.

Mr. Indar, who also serves as the Vice-Chairman of the Private Sector Commission (PSC), told OilNOW in a recent interview that when the draft policy document is examined, he is of the view that there must be some level of legislation. “Our members are asking for some degree of legislation. The legislation I am talking about for Guyana does not resemble in any way, shape or form, the one that they have in Ghana, which is in the extreme end, or the one that they have in Brazil, which is on the extreme end,” he stated.

The GCCI President said local companies would be satisfied with a one-page document that says, “Guyanese businesses must get first consideration.”  This, he said, is not tantamount to forcing oil operators or their contractors to choose a Guyanese company… “I am saying that if you have an opportunity as an operator or subcontractor, you put it out there and give the Guyanese businesses the first consideration to make a submission of an Expression of Interest.”

If the local businesses are incapable of doing the job, Mr. Indar said, “then you go elsewhere.”

The final draft document outlining Guyana’s local content policy framework has been handed over to authorities and an implementation plan is expected to be crafted soon. Guyana’s Ministry of Business has been tasked with spearheading the development of the policy framework.

GCCI, which represents more than 180 private sector companies in Guyana, had done an extensive review of the draft Local Content Policy framework which was submitted to Guyana authorities.

Mr. Indar said formulating the right type of legislation can be done but requires will from those in authority. “It can be done, but it needs will. The will needs to be translated into how this thing benefits Guyanese.”

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