Government has updated its local content plan guideline for companies that want to operate here; requiring those who submit from next year to state how they will utilise women and small and medium sized businesses, among other projections.
The guideline was updated to include definitions for women-owned and small businesses. The updated guideline, published on the Ministry of Natural Resources website, said that “women-owned” refers to businesses “in which at least 51 percent ownership/stake is held by a woman/women.”
It also includes, “The requirement to stipulate how the contractor or sub-contractor intends to promote the utilisation of small and medium-sized enterprises …”