The third annual Local Content Summit officially opened today at the Guyana Marriott Hotel.
The summit provides business owners with access to expert-led panel discussions on critical topics, including supply chain management, procurement strategies, capacity development, and market trends.
Anita Ramprasad, CEO of Prestige Management Consultants and Co-Chair of the Local Content Summit 2025, in her welcome remarks, stated:
“This programme is designed with you in mind. Local content might be one piece of legislation, but every year it evolves—as the economy evolves, as the business landscape evolves, and as opportunities evolve. So too, the legislation can be navigated differently, and that’s certainly the case this year.”
Delivering the keynote address, President Dr Irfaan Ali highlighted that the Local Content legislation has created significant benefits for local businesses. He noted that, through this legislation, major contracts have been awarded to numerous local enterprises, encouraging more businesses to participate in the oil and gas sector.
President Ali revealed that by the end of 2024, 1,100 local companies had participated in the local oil and gas sector. Since the passage of the Local Content legislation, these companies have earned over US$1.5 billion in contracts and procurement opportunities.
He also noted that, by the second half of 2024, 54 women-owned businesses were registered under the Act.
The Local Content Summit continues to support Guyana’s Local Content Legislation by connecting stakeholders to explore opportunities in the oil and gas sector, promoting local business growth, job creation, and strategic partnerships.
