2nd Local Content Summit to be held in 2024

Following the success of Guyana’s first Local Content Summit on April 4, the MBW Energy Support Services Inc (MBWESSI) is already planning to host a second summit of its kind in April 2024.
“Our aim is to ensure that this summit remains accessible and affordable for all Guyanese to attend and as such we would be looking at making 2024 a bigger event, showcasing more Guyanese success stories, giving a platform to those who have entered the Local Content Certification process in 2023 to speak of their own experience,” said Business Development Manager at MBWESSI, Channey Wong.
Wong added that MBWESSI also intends on inviting more partnership-ready companies to their Equity Room to support the formation of more fruitful partnerships and on working closely with the Local Content Secretariat to help more companies who want to be Local Content Certified.
Since coming into operation in January 2022, the Local Content Secretariat has registered more than 500 companies with the aim of issuing 750 more Local Content Certificates in 2023.
A total of 371 individuals attended the first summit themed “Sustaining Supplier Development through Local Content Partnerships,” an effort organised by MBWESSI to provide local companies with a working road map for local content for successful participation in the country’s energy sector.
“The conversation on local content was needed and timely for many people…[and] the conference brought to light that many Guyanese-owned Local Content Certified companies are ready for business growth and development through partnerships,” Wong said, adding that many women-led businesses have been able to see their companies grow and thrive through the implementation of the Local Content Act.
Guyana’s Local Content Act, finalised in 2021, essentially allows for local companies providing services like construction management, procurement and logistics, recruiting and human resources, to get first preference in the country’s emerging oil and gas sector.
Wong explained that the goals of the summit – to bring together policymakers, industry operators and contractors, vendors, suppliers, investors and general businesses in one forum to better understand the role of local content as a driver of economic growth and in the creation of more opportunities for business, trade, and commerce as well as a higher quality of life for its citizens – was achieved.
The 371 participants – both in-person and online – represented companies involved in accounting, logistics and transportation, security, finance, business support services, training and education.
“For participants both online and in-person, 270 were local individuals and 100 were international,” Wong said. “We saw individuals coming to Guyana for the first time, just to attend the conference, and we are extremely happy that they were able to experience Guyana whilst gaining the knowledge they needed on Guyana’s local content and energy sector.”