The Private Sector Commission (PSC) and the Guyana Manufacturing and Services Association (GMSA) in a joint statement today said that they look forward to local businesses being given opportunities to participate in the oil and gas value chain considering that the sector is poised for significant growth in the coming years.
“Key to this will be meaningful local content and greater transparency in procurement opportunities through unbundling and moving away from sole sourcing so that local businesses can be part of the value chain either directly or through partnerships and joint ventures. This is especially the case for mega projects that are expected in the coming years”.
The statement said that the GMSA and PSC look forward to working closely with Government to urgently put in place the framework and enabling environment to facilitate this.
The issuing of the statement today may be a signal of concern that steps are not being taken quickly enough by the government to enable local companies to fully benefit from oil and gas opportunities or that the offering are too large for them to participate.
A panel headed by the GMSA President Shyam Nokta recently submitted a report on local content. The government has not released the report or said anything about its contents.
