Put Local Content Policy in place now – PSC tells Gov’t


The Private Sector Commission (PSC) was Monday stern in its call for an end to discussions and the operationalization of Guyana’s Local Content Policy forthwith, as the country edges closer to first oil in 2020.

PSC Chairman Desmond Sears said the time has come for the second draft of the local content policy to be tested through implementation.

He believes the policy should be operationalized with a date for revision so that it can be efficient when the right times comes.

Sears was at the time speaking at the opening of a two-day Supplier Development Forum hosted by ExxonMobil and the Centre for Local Business Development.

“The Private Sector Commission (PSC) welcomes all investors to our shore who are desirous of establishing business in obedience with local laws,” he said even as he sounded the importance of local businesses being a part of all supplier networks.

Sears said foreign business will need to adhere to the local content policy and use locally produced goods and services and Guyanese labour in oil and gas operations.

“Oil and gas relatively new to Guyana and represents a sector where time is money,” he said.

Sears told the gathering that already local businesses are investing heavily to take advantage of opportunities that exist.

“Massive training is being undertaken as companies try to position themselves to benefit,” he said, pointing out the significant support these businesses have also received in the form of specialist training and certification from the Centre for Local Business Development.

The PSC Chair also used the platform to advocate for more joint ventures with locals.

He said many persons still underestimate the reach of local business and it is time to change that thinking.

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