[ 2012-07-08 ]

Local Content Bill can boost enterprise development - Takoradi C of C
Takoradi, July 07, GNA – Mr Stephen Annan,
Executive Secretary of the Sekondi Takoradi
Chamber of Commerce and Industry, (STCCI), has
called for the passage of the Local Content Bill
to ensure that operators in the jubilee oil fields
did the right things.

He said the bill had the potential to boost
enterprise development and capacity building of
the locals which would culminate into the overall
growth and development of the region and the
country as a whole.

Mr Annan said this during a breakfast meeting
organised by the STCCI to discuss issues
surrounding the impending Local Content Bill that
was currently before parliament.

Nana Kobina Nketsiah V, Omanhene of Essakido
Traditional Area, said he was unhappy that “after
five years of oil exploration and drilling, we are
yet to pass a law that will regulate activities of
operators”.

Mr Tony Paul, an International Oil and Gas
Consultant from Trinidad and Tobacco, who spoke on
“Local Content Implementation: International
Experiences and Lessons; Ghana's Approach”, said
the country could only maximize value from the oil
resources through fiscal and non-fiscal measures
such as royalities, taxes and local value
addition.

He said capacity building, good governance and
management was necessary saying “the sector
currently employs four per cent of the
population”.

Mr Paul called for strategic and comprehensive
skills development programmes to ensure that Ghana
got the best out of its oil and gas resources.

Source - GNA

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