Guyana’s Finance Minister, Dr. Ashni Singh, revealed during the 2025 budget presentation last week that the Local Content Register now includes over 1,100 companies.
Dr. Singh reported that in 2024, the Local Content Secretariat facilitated approximately US$743 million in spending on services, employment, and capacity development, sourced from Guyanese businesses and workers.
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Of this amount, an estimated US$612 million was tied to 40 service areas. Key expenditures included US$92 million on construction, US$88 million on lay-down yard facilities, US$34 million on accommodations, US$26 million on catering, and significant spending on ground transportation.
Since the Local Content Act’s enactment in 2021, the total procurement of goods and services from Guyanese companies and nationals has surpassed US$1.5 billion.
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Dr. Singh also highlighted the government’s focus on integrating small and medium-sized enterprises (SMEs) into the sector, particularly women-owned and youth-led businesses. He also announced the upcoming launch of a Local Content App at the Energy Conference, designed to connect these enterprises with opportunities in the oil and gas industry.
Guyana’s Local Content Act has facilitated the employment of Guyanese nationals in the industry, with 40 specified areas in the service sector mandating local procurement by oil and gas companies and their subcontractors. To further strengthen local content policies, a series of amendments to the legislation have been planned.
