Statement by the Georgetown Chamber of Commerce & Industry on the Tabling of Local Content Legislation
The Georgetown Chamber of Commerce and Industry (GCCI) notes the overwhelming number of infrastructure work which is being handled by foreign-owned companies.
Additionally, the GCCI notes the high volume of trucking, logistical and other support services which are being operated by foreign-owned companies, particularly as it relates to the oil and gas sector.
The GCCI has been in receipt of several complaints from its membership of cases in which they are being bypassed for work in favour of the aforementioned category of companies.
This occurs in spite of the indigenous Guyanese enterprise being both commercially competitive and having the technical capability.
The Chamber reiterates that it remains supportive of foreign investment in Guyana. We encourage, however, that this not be done at the expense and displacement of indigenous Guyanese companies.
The Chamber has been encouraged by the posture of the government as it relates to local content and calls on the government to table Local Content legislation before the end of the year.
