Six years after the discovery of oil offshore and more than two years after production began, Guyana’s Local Content Bill was yesterday laid in the National Assembly, setting out the minimum percentage employment and goods and services procurement for locals, while requiring that the data to substantiate the claims be submitted every year.
“The Local Content Bill 2021 represents the principal vehicle through which Guyana seeks to negotiate a tradeoff between investors engaged in the petroleum sector and Guyanese nationals and Guyanese companies involved in the petroleum sector,” the Bill tabled in the name of Minister of Natural Resources Vickram Bharrat stated.
Local content has been a hotly debated topic in recent months.