Guyana’s local content legislation, originally crafted for the oil and gas industry, is influencing investor behaviour across other sectors of the economy, Natural Resources Minister Vickram Bharrat said on Tuesday, February 10.
The Local Content Act, legislated at the end of 2021, was designed to increase participation by Guyanese nationals and companies in the country’s fast-growing petroleum sector through employment targets, training requirements and quotas for contracts to Guyanese businesses. Since its implementation, the framework has secured hundreds of millions of U.S. dollars in contracts for Guyanese firms annually.
Speaking during consideration of the 2026 budget estimates in Parliament, Bharrat said the law’s impact is extending beyond oil and gas.
“When we designed, passed and implemented the local content legislation, it was primarily intended for the oil and gas sector,” Bharat told the House. “But what we have done over the years is that we have tried to get investors who are investing in other sectors to also at least be compliant or try to be compliant or in line with the local content legislation.”
He added that companies entering Guyana in agriculture, tourism and mining are increasingly aligning their operations with the principles of the Act.
“You find that a lot of investors coming to Guyana now, even in agriculture, tourism, mining, they have actually been following the pattern… or coming in line with the local content legislation,” he said.
Bharat made the remarks in response to a question from opposition Member of Parliament Juretha Fernandes, who asked whether the government was considering a dedicated local content policy for the mining sector.
While noting that the current law targets oil and gas, Bharat said the administration is examining whether separate legislation may be required for other industries. “It is something that we are considering, whether there is need to have a dedicated local content legislation for mining or for the other sectors,” he said, adding that the existing framework has produced good results.
