Friday, December 2, 2022

TT business group distances self from director’s comment on Guyana local content law

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On the heels of comments from Trinidadian business strategist Jaishima Leladharsingh, who criticised Guyana’s local content law, the business group he directs, the Trinidad and Tobago Coalition of Services Industries (TTCSI), has distanced itself from the assertions.

In a statement to the press on Thursday afternoon, the TTCSI categorically stated that the comments made by Leladharsingh “do not represent” the view or position of the business coalition.

“Trinidad and Tobago has been pursuing the introduction of local content and participation legislation and the TTCSI continues to be supportive of this process,” the group said in its statement.

Leladharsingh, who was at the time speaking in his personal capacity during a segment of the recently concluded Guyana Basins Summit, said Guyana’s local content legislation “is a big deterrent to business.”

He further stated that if Guyana fails to grant Ramps Logistics a Local Content Certificate to operate within its oil sector, Trinidad and Tobago companies will take their business elsewhere — to neighbouring Suriname.

Ramps Logistics has lamented the delay at which the Local Content Secretariat – the Local Content Regulator in Guyana – has taken to grant a Local Content Certificate to the company. Ramps is pursuing the certificate, so it may receive preferential treatment in the award of contracts for the supply of goods and services in Guyana’s oil and gas sector. It has since lodged a judicial review with Guyana’s High Court over the secretariat.

Ramps was this week slapped with ten charges from Guyana’s principal tax regulator, the Guyana Revenue Authority (GRA) for making false declarations.

Meanwhile, the TTSCI went on to state that the six energy services companies that recently completed TTCSI’s Gateway to Trade Export Accelerator Programme 2021/2022 — Damus Limited; North West Maritime Limited; Kronus Geological Services Limited; Epic Maintenance Limited; Weldfab Limited and Phillips General Contracting Limited — attended the Guyana Basins Summit which concluded on Thursday at the Pegasus Corporate Centre in Georgetown.

“The TTCSI is pleased that accomplished presenters have been scheduled to address various options for investment opportunities that may be of benefit to the above referenced companies and areas in which they can participate in neighbouring Guyana.”

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