Minister of Natural Resources Vickram Bharrat on Wednesday said the government has clamped down on the malpractice by foreign-owned companies renting Guyanese citizens to show majority-Guyanese ownership and so obtain local content certification.
“We really have to work hard at clamping down on that and sending a strong message to those people who have intentions of doing it that they will face the penalties because there are penalties in the local content legislation. But I must say with your cooperation and the general Guyanese public, we have seen almost an elimination,” he told a signing ceremony for the letters of approval for the annual local content plans that forms the basis for the local content drive.
Mr Bharrat also said the government clamped down on shell companies that hide assets and get Guyanese involved.
Guyana introduced the Local Content Act five years ago.
At one time, the government had repeatedly threatened to amend the Local Content Act because of the prevalence of rent-a-citizen.
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