Consultations on new local content framework in Guyana set for this month

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The newly appointed Advisory Panel on Local Content in Guyana will begin reaching out to key stakeholders this month as work continues towards the development of legislation which the government says must ensure Guyanese are given a fair opportunity to benefit from opportunities in the emerging oil and gas industry.

Minister of Natural Resources, Vickram Bharrat, met with members of the Advisory Panel on Local Content on Wednesday.

According to a press update from the Ministry, the engagement sought to update Mr. Bharrat on the work of the Panel and to seek Government’s views on critical issues. 

Mr. Bharrat used the opportunity to underline Government’s commitment to Local Content and to have in place a Policy as well as Legislation at the earliest, the Ministry said. Mr. Bharrat also emphasized the need to maximise opportunities for goods and services produced by Guyanese or sourced locally and to take advantage of opportunities that exist now even as the government plans for the future. 

“A primary priority is to ensure that as many Guyanese, including small businesses and semi-skilled labour benefit from the oil and gas industry,” the Natural Resources Minister stated.

The Panel has been tasked with undertaking a review of all existing initiatives and policies relating to local content in the petroleum sector and to provide guidance for the development of Guyana’s Local Content Policy and Legislation. Further, the Ministry said the Panel has been meeting regularly and with support from the Ministry, will be reaching out during the month of October to key stakeholders in Government, Private Sector and Civil society to solicit inputs and perspectives.

The Panel members comprise Mr. Shyam Nokta (Chair), Mr. Carl Greenidge, Mr. Anthony Paul, Mr. Kevin Ramnarine, Mr. Carville Duncan, and Mr. Floyd Haynes.

The Panel is expected to submit its report and recommendations by November 2020.

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