Press Release – Handover of draft Local Content Policy

Natural Resources Minister, Hon. Vickram Bharrat yesterday held follow up discussions with Mr. Jairo Valverde, Resident Representative, UNDP and virtually handed over Guyana’s Draft Local Content Policy and further dialogue for continued support in the areas of local content and strategic planning for the natural resources sector.

Minister Bharrat stated that “the UNDP has been very supportive to the Government of Guyana and the work we have been doing in the oil and gas sector, as such we see UNDP as a partner in the development of this new sector, which is expected to grow exponentially over the next couple of years.” Therefore, the Government will be working on its legislative agenda, institutional strengthening, capacity building, and local content. These are all areas being worked on immediately to complement the rapid growth of the oil and gas industry, the Natural Resources Minister posited.

Further Minister Bharrat pointed out that the Government’s legislative agenda will be advanced to obtain more benefits from the oil and gas industry directly to our people at all levels of Guyana’s workforce. However, it must be done in a manner that is transparent and consultative which will lead to strong policies and legislation, the Minister added.

In outlining the partnership between the Government of Guyana and the UNDP, Mr. Valverde stated that it is important to provide support in keeping with Guyana’s oil and gas development value chain to benefit all citizens. He welcomes the announcement of the Local Content Consultations for which the UNDP will provide technical support. Additionally, Mr. Valverde pointed out that following his meeting with Minister Bharrat last September a number of projects are being examined which includes; Strategic Plan for the Ministry of Natural Resources 2021-2025, Forest Inventory Management, Integration of MRVS training for GGMC, and technical support for the establishment of the Petroleum Commission, among other areas of collaboration.

Concluding, Minister Bharrat expressed appreciation on behalf of the Government of Guyana and maintained to working closely with the UNDP to ensure the deliverables are completed in a timely manner.



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