President of the Georgetown Chamber of Commerce and Industry (GCCI) Nicholas Boyer on Wednesday emphasised the need for a local content policy and regulatory legislation to protect investments by both the public and private sectors in the emerging oil and gas industry.
Boyer made these comments at a press conference after returning from an Offshore Technology Conference (OTC) that was held in Houston, Texas last week.
“We, as a private sector, have played our cards and are willing to make the investment, learn and inculcate new behaviours and new standards into what we offer. What we need is that regulatory environment that starts with a policy and ends with legislation that says there is a need for local content in this industry,” Boyer explained, while noting that even though there are many examples of efficient local content policies around the world, there is a need for Guyana to learn quickly and implement such a policy and related legislation.