Chamber believes Ghana’s Local Content Bill can boost enterprise development

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