President Dr. Irfaan Ali
Dr. Ali insisted that in time, people would realise that the law is set up to bring businesses closer together even as he attested to the marrying of business models in an environment that was created to ensure a win-win situation.
“For me, it is not you against us or me against you. If you approach life to be a soul winner, in the end, you’ll be the loser,” Dr. Ali stated.
Some Trinidadian businesses have already said that the law was helping to expand their business reach and provides a delicate balance between the operations of local and foreign companies in Guyana.
The First Schedule of the law sets 40 areas – from transportation to legal services – under which Guyanese companies should be used, detailing the percentage requirement by the end of 2022.
Because of the provisions of the local content law, joint ventures have become increasingly important in helping foreign companies participate in the local sector while simultaneously building Guyanese competency.
