See full release from the Private Sector Commission (PSC):
The Private Sector Commission (PSC) congratulates the Government, on the tabling of the Local Content Legislation. We are of the firm belief that the legislation will serve to develop our local companies by affording them the opportunity to meaningfully participate in the Oil & Gas sector.
The need for this legislation has been advocated by the Commission for a number of years and we see it’s tabling and passage as a fundamental step in fostering the growth of many local businesses and advancing Guyana’s national development. We look to many businesses, both manufacturing and services quickly embracing the opportunities that the legislation opens up.
While the legislation caters to a number of specific areas, the percentages in some areas, we believe, require some revision. The PSC expects that, with effective implementation & monitoring, the required changes will be instituted. We encourage all local businesses to get prepared and develop themselves to take full advantage of this legislation.
The PSC commits to working with the Ministry of Natural Resources and by extension the Government of Guyana in realizing maximum benefits from our National Local Content Legislation.
