Local businesses must not use the Local Content Act as a shield for poor service and excessive prices, the World Trade Centre Georgetown Business and Investment Conference heard on Monday.

Natural Resources Minister Vickram Bharrat told business leaders the legislation was designed to increase Guyanese participation in the oil and gas sector, not to encourage mediocrity.
“The local content legislation was never designed to inculcate or encourage mediocrity in terms of the provision of goods and services at exorbitant prices,” he said.

He urged companies to deliver quality products and services at competitive rates, adding that customer satisfaction must remain central to commercial success.

“The main objective of a business is to satisfy your customers' wants and needs with quality goods and products. And when you do that, you will make a profit,” Bharrat said.
He said more than 1,200 local businesses supply the sector directly or indirectly, while almost 7,000 Guyanese have been trained and employed in the industry.

Farmers in Black Bush Polder, along the Linden Highway and in Parika are supplying produce to offshore operations, Bharrat noted. He also cited a transport operator whose fleet grew from four vehicles to 120, creating work for mechanics, gas stations and other service providers.
Bharrat encouraged foreign investors attending the conference to form partnerships with local businesses across oil and gas, mining, forestry, agriculture, construction and manufacturing.
“When a foreign investor comes to Guyana, the first thing we say, ‘Consider partnering with the local private sector’,” he said.

World Trade Centre Executive Chairman Komal Samaroo said stronger regional supply chains and formal trade relationships could help Guyana and Caribbean economies navigate global uncertainty and unlock new markets.
The five-day conference marks the first anniversary of the Centre's official opening. It brings together policymakers, investors and regional business representatives to explore trade, investment and economic cooperation.