In Guyana’s Local Content law, business opportunities have been carved out specifically for Guyanese but Head of the Local Content Secretariat, Dr. Martin Pertab says the regulatory body is exploring how it can carve out opportunities for Guyanese women specifically.
Pertab, at a recent event, noted that all Guyanese companies are placed on a “level playing field” when seeking to provide services in the 40 areas carved out for Guyanese.
Though this is a win for local content, he believes smaller businesses are disadvantaged.
“In most cases, by default, larger companies always get those contracts,” Pertab said.
In response to this, the Director of the Local Content Secretariat said discussions are ongoing on how smaller businesses, and smaller, women-run businesses, can benefit from specific carved-out opportunities.
“…We are looking at some basic non-technical services and working with companies on how we can carve out those services and look at how we can get women to provide those services,” Pertab said.
Through Guyana’s 2021 Local Content law, hundreds of Guyanese have benefited from increased access to opportunities carved out specifically for them.
Currently, 40 areas – from transportation to legal services – have been carved out for Guyanese. The law details the percentage requirement of Guyanese that must provide these services in the oil and gas sector.
And with oil companies required to get goods and services from these local companies, Pertab also noted that there has been a growth in hires by local companies. There are more than 850 local companies registered with the Secretariat.
