Local Content Secretariat for Guyanese companies being touted in Bill

A Local Content Secretariat is expected to developed once the Local Content Bill is assented to. The Bill was tabled in the National Assembly on Thursday morning.

This Secretariat is expected to “maintain measures for the effective implementation of local content” by Guyanese contractors. It is also to implement sub- contracts and licenses, develop and implement strategies that “will give preference to and ensure the equal treatment of Guyanese nations and Guyanese companies.”

This Local Content Secretariat will conduct market analysis, make recommendations to the minister, develop formats for local content plans and reporting, developing guidelines for local content reporting, procurement, bid, evaluation, training, research and development, partnership and joint ventures.

The secretariat is expected to develop and maintain a local content register of qualified Guyanese nationals and Guyanese companies, the Bill reads.

This secretariat can recommend for approval or refusal, local content master plans and local content annual plans, proposals for modifications to these plans. It will have to develop auditing procedures and conduct regular audits for the purposes of monitoring the ensuring compliance with this act.

The secretariat will develop and maintain a Local Content Register, this will include Guyanese nations for employment and Guyanese nations and Guyanese companies for which goods and services may be procured.

The Bill defines what a Guyanese company is defined as.

Definition of a Guyanese Company as set out in the Local Content Bill