As Guyana’s dynamic and rapidly expanding economy continues to grow through the oil and gas sector, key players are maximising opportunities made available through the Local Content Secretariat.
The Local Content Policy (LCP) aims to create inclusive opportunities for Guyanese to become more involved in and benefit directly from the sector.
Guyanese nationals and companies certified under the secretariat receive preferential treatment in the awarding of contracts by oil companies and subcontractors.
While hundreds have benefitted since the secretariat was established in 2022, reactions from Guyanese have been mixed.
Businessman Kevin DeJonge told Ignite News that while he is preparing to maximise the benefits offered through the secretariat, his staff has already benefitted from training in health and safety as well as customer service.
However, he noted that there is still room for improvement to ensure greater accessibility.
“To me, there’s some amount of red tape. I just took a back seat because I want to get myself in order. The standards are so high that locals have not been trained or guided towards achieving them. Your whole mindset has to change.
“For example, they’re looking for people to do catering and similar services, but in order to qualify, the standard is so high that not many people can meet the requirements.
“The Small Business Bureau is offering loans to help build capacity for Local Content, but they require compliance with certain basic standards. However, even these basic requirements demand a lot. That is why I need to get things in order before going after it,” DeJonge said.
For Chief Executive Officer of The Hardware Depot, Bonny Singh, now is the perfect time to take advantage of available opportunities.
“The Local Content Policy provides opportunities for Guyanese entrepreneurs and business owners to be part of something bigger. There are so many opportunities for every Guyanese. You just have to position yourself in the right area.
“For instance, the oil and gas industry needs welders, drivers, carpenters, electricians—the list goes on.
“Please, make yourself the opportunity. If you don’t understand where you need to be, take the time to reflect on your creativity. Wherever your creativity leads you, that’s where the opportunity will take you,” he urged.
Singh also encouraged Guyanese to explore opportunities in sectors such as healthcare, housing, and infrastructure development.
“What is happening in Guyana is an opportunity that has never existed before. We need to wake up, go to work, and be the best versions of ourselves,” he said.
Recently, the Private Sector Commission (PSC) submitted a proposed revision of the Local Content Act to President Dr. Irfaan Ali. This follows two years of consultations with private sector operators across the country.
The proposal aims to strengthen and address areas that have evolved since the Act’s introduction in 2022, including provisions for new and emerging sectors that support oil and gas.
The Local Content Legislation, enacted in 2021, seeks to develop a skilled workforce for the sector, build capacity within local businesses, improve enforcement mechanisms, and facilitate a smooth transition into a rapidly evolving industry—while ensuring equitable access to opportunities for local companies.
