Local Content: 10 Commandments for Building and Implementing an Effective Strategy
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Industries in the extractives sector always have recruited and sourced goods and services locally. However, they focus on meeting short-term cost and operational requirements by hiring and procuring most of their goods and services from "outside" sources through established supply chains, rather than building up local skills and industry.
Nowadays, in a world of extended requests for local content with mounting external pressure to absorb further responsibilities for local economic impact and social improvement, companies have begun to look for new approaches to local content.
If executed effectively, local content offers an opportunity for the extractive industry to meet business requirements for local sourcing and job creation while maximizing socio-economic impacts, incentivising growth and competitiveness of local businesses, stimulating wider regional development and increase the household incomes of indigenous workers.
However, there are a number of internal and external obstacles which oil and gas companies must consider when designing and executing effective local content programmes.
Based on project experience, this eBookis a cast iron set of "commandments" to abide by to engender a successful local content experience.
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