— Georgetown Chamber of Commerce and Industry

THE Georgetown Chamber of Commerce and Industry (GCCI) said it is extremely pleased that the government has tabled the local content bill in the National Assembly.

The GCCI in a release said it retains the view, in a steadfast manner, that local content will facilitate material benefits to Guyana’s private sector.
“The chamber, as the general public is aware, has championed the cause for local content since the beginning of 2017.

Throughout these years, the chamber has undertaken an expansive range of activities which it viewed as being necessary to aid in the general public’s understanding of local content, including, but not limited to forums, seminars, webinars, policy briefs, extensive commentary, advocacy, crafting of a model legislation and consultation sessions,” the release said.

According to the GCCI, the local content bill tabled is representative of a gold-standard instrument in supporting private sector development. The GCCI has actively participated in consultations with the government and is pleased to see that key areas, where local capacity exists, have been ring-fenced for Guyanese enterprises.

The chamber also noted that it is pleased at the bill’s establishment of two key institutions: the Local Content Secretariat and the Inter-Agency Advisory Committee.

“These two institutions engender the dynamism which such a bill ought to encapsulate. This will ensure that the private sector continues to benefit from this legislation long into the future. The Chamber of Commerce now anticipates further improvements and reforms to both the institutional and legislative framework necessary to support the country’s development, including the establishment of the Petroleum Commission.

The GCCI wishes to once again commend the government for the tabling of the Local Content Bill and reiterates that it will continue to be a partner in Guyana’s development, as we have since 1889,” the GCCI release emphasised.