Ghana’s Parliament adopts local content regulations for oil industry

 

http://www.ghanabusinessnews.com/2013/11/20/ghanas-parliament-adopts-local-content-regulations-for-oil-industry/

 

Ghana’s Parliament has approved regulations for local content in the country’s oil industry.

 

The regulations aim at providing a transparent monitoring system to meet the objectives of the government’s local content policy.

 

After a report submission in Parliament by the Committee of Subsidiary Legislation on Tuesday November 20, 2013, MP Akwapim South and Chairman of the Committee, Mr O. B. Amoah moved for the motion which was seconded by Mr Cletus Apul Avoka, Member for Zebila.

 

The Local Content and Local Participation regulations, 2013 (L.I 2204.­) is expected to help facilitate job creation through the use of local expertise, goods and services, business and financing in the petroleum industry value chain.

 

The Legislative Instrument was first laid before the House in July this year and was referred to the Committee for consideration and report to the House.

 

Energy Minister Mr Emmanuel Kofi Buah, who was in Parliament, thanked the MPs for approving the regulations. By Ekow Quandzie

 

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