The President of the Georgetown Chamber of Commerce, Kester Hutson, has emphasized the need for respect for Guyana’s local content legislation, as he addressed a Trinidadian business mission visiting Guyana.

During an address to the group, the Head of the Chamber of Commerce also noted the importance of bilateral collaboration and promoting sustainable development between the chambers of business in Guyana and Trinidad and Tobago.

The Trinidad business delegation covered companies from various sectors including manufacturing and distribution, banking and investment, food/beverage, paper products and packaging and ICT.

The Chamber of Commerce President told the T&T business group that Guyana’s local content regulations should not be seen as barriers, but rather catalysts for inclusive growth, job creation, and skills development.

Since Guyana implemented local content legislation, forcing companies in the oil and gas sector to have a Guyanese majority in ownership and employment, a number of foreign companies have teamed up in joint ventures with local companies. However, the Government has warned that it will tackle the issue of “fronting” that appears to be used by some investors. In those cases, they would just join with local citizens or a local company to get pass the legislation, but the locals would not no real power with the foreign companies.

Related posts:

Local Private Sector frown at regional body’s concern about Guyana’s local content legislation Local Content Secretariat being established to enforce local content legislation GCCI presses for comprehensive local content legislation for oil sector GCCI wants delay of MOU with Trinidad until Local Content Legislation in place for Oil