GCCI Women’s Mixer and Business Magazine Launch 2022

With Guyana’s recent passing of a local content bill that ensures that Guyanese businesses and citizens reap the benefits from the oil and gas industry, Guyanese businesswomen are being called on to make haste in seizing the many opportunities this bill unlocks. The most recent call came from United Nations (UN) Women Consultant, Mrs. Imani Duncan- Price, as she delivered a powerful speech on gender equality at the GCCI’s Women’s History Month Mixer, held last week.

On December 29, 2021, the Local Content Bill 21 of 2021 was passed in the National Assembly following more than a year of consultations and profound debates. This bill not only compels oil and gas companies (which includes contractors and subcontractors) to solicit business from Guyanese, but it will also see Guyanese benefitting from US$400M to US$500M in revenues annually.

“Look at the practical tools like the Local Content Bill that’s being defined and don’t just make sure it speaks to a percentage of Guyanese ownership but lobby for a percentage of businesses led by Guyanese women and a percentage led by Guyanese young people,” Duncan-Price outlined as she made her call, adding that it is an opportunity to deepen the Guyanese economy in meaningful and sustained ways and ultimately contribute to nation-building.

Guyana’s local content bill has no stipulations over gender equality in the oil and gas sector, however, the UN Consultant hopes that Guyanese can still lobby for it to be practised. Buttressing that statement she said, “Gender Equality is just smart economics. So, it is my hope that as we engage more meaningfully with the Private Sector that more and more companies will join us on that journey.”

She affirmed that Guyana deserves and needs inclusive growth and shared that she has much faith that her call for more women-led businesses to serve Guyana’s oil and gas sector will be mobilized.