Local content policy will ensure all Guyanese benefit from oil wealth

-Gov’t working to create enabling framework
─ VP Jagdeo

Vice President, Hon. Dr. Bharrat Jagdeo says Guyana’s local content policy will cater for Guyanese across the diaspora.

The Vice President made this statement during his guest appearance on GlobeSpan 24 x 7’s ‘Oil & Gas Contracts and Opportunities for All Guyanese’ programme hosted Wednesday evening.

Vice President, Hon. Dr. Bharrat Jagdeo

Dr. Jagdeo said the Government is working to create a framework to enable Guyanese at home and abroad to access opportunities in the petroleum sector.

“When we say local content, it doesn’t mean for people only who live here, but it’s for the Guyanese all around the world because once you are Guyanese, even if you have a tiny drop of Guyanese blood from your great grand or something like that, you are part of that local content policy.

So, we are working to create a framework so if they have companies or skills, it becomes much more marketable in the industry here.”    

The Vice President noted that while the COVID-19 pandemic has stymied engagements, the Government recognises the interest shown by Guyanese in the diaspora and intends to host engagements there. 

Dr. Jagdeo said the Government will create opportunities for them to explore and invest in the sector.

“Because of the COVID-19 situation that the world is struggling with, there can be very little person-to-person contact, because we wouldn’t travel as much but, we’d like to have the face-to-face engagements.

If we come to Brooklyn or Queens to have a meeting of this nature where people can ask you questions, they can interrogate you, that sort of thing – or in Toronto or wherever Guyanese are. That will change once we get out of this pandemic… you will have more engagements,” he said.

Dr Jagdeo emphasised that all Guyanese must share in the wealth from the petroleum sector and the PPP/C Government is keen to build local capacity to ensure it happens.

The Government’s plan to establish a Petroleum Commission will see more Guyanese prominence in the sector, enjoying the benefits of the oil resources across the board. Since entering office in August, the administration has emphasised the need for Guyanese to be at the forefront of projects, and at the helm of corporations across all sectors.


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