See full statement from the Georgetown Chamber of Commerce and Industry (GCCI):
The Georgetown Chamber of Commerce and Industry (GCCI) is extremely pleased at the Government of Guyana’s tabling of the Local Content Bill in the National Assembly. The GCCI retains its view, in a steadfast manner, that Local Content will facilitate material benefit to the Guyanese private sector.
The Chamber, as the general public is aware, has championed the cause for Local Content since the beginning of 2017. Throughout these years, the Chamber has undertaken an expansive range of
activities which it viewed as being necessary to aid in the general public’s understanding of local content, including but not limited to forums, seminars, webinars, policy briefs, extensive commentary, advocacy, crafting of a model legislation and consultation sessions. Thus, it is imperative that the GCCI reinforces that the Local Content Bill being tabled is representative of a gold standard instrument in supporting private sector development.
The GCCI has actively participated in the consultations with the Government of Guyana and is pleased to see that key areas, where local capacity exists, have been ring-fenced for Guyanese enterprises. Further, the Chamber is especially pleased at the Bill’s establishment of two key institutions – the Local Content Secretariat and the Inter-Agency Advisory Committee. These two institutions engender the dynamism which such a Bill ought to encapsulate. This will ensure that the private sector continues to benefit from this legislation long into the future.
The Chamber of Commerce now anticipates further improvements and reforms to both the institutional and legislative framework necessary to support the country’s development including the establishment of the Petroleum Commission. The GCCI wishes to once again commend the government for the tabling of the Local Content Bill and reiterates that it will continue to be a partner in Guyana’s development, as we have since 1889.