Based on preliminary assessments, Director of the Local Content Secretariat, Martin Pertab, disclosed on Tuesday that local content earnings in 2022 are well above GY$129B. This massive figure represents 23% of Guyana’s GY$552.9B budget.
Additionally, the Local Content Secretariat revealed that it has issued some 354 Local Content Certificates to suppliers of the nation’s oil and gas sector. This document confirms that the regulator is satisfied that the holder of the certificate is a bonafide Guyanese national or Guyanese company.
Pertab said the unit continues to work alongside and engage with contractors, sub-contractors, licensees and Guyanese suppliers to ensure that the goals of the Act are met. Local content, he underscored, gives Guyanese businesses a fair opportunity to directly tap into and benefit from Guyana’s multi-billion-dollar petroleum sector.
Internal assessments also show that Guyanese companies supply goods and services across 37 of the 40 areas ringfenced for nationals in the First Schedule of the historic and innovative Local Content Act.
In keeping with the provisions of the legislation, all certified Guyanese companies are published via the Local Content Register which is public for all to scrutinize.