Local business Executive, Timothy Tucker, has said that there are a number of opportunities for Guyanese companies to tap into especially in the burgeoning oil and gas sector but this requires commitment and lots of research. Tucker, a prominent Guyanese businessman and former President of the Georgetown Chamber of Commerce and Industry (GCCI), was at the time speaking on the Starting Point podcast. Sharing his experience in business, Tucker says that there are greater opportunities for Guyanese today in every sector including the oil and gas industry. However, he noted that given the high standards of the petroleum sector, he is of the view that local businesses need to do more in order to position themselves to capitalise on these opportunities. “I think that the market gives greater opportunity to the persons right now. There are so many opportunities… I believe that most Guyanese have the opportunity to either work in the [oil and gas] industry or an associated industry, or you have the ability at this point to be an entrepreneur. There’s nothing stopping you from being an entrepreneur.”

“You’ve got to be able to diversify, look for your niche product or service, and really try to fill the gaps in the market. It takes some amount of time and research. Previously in Guyana, we never bothered with market research studies and, you know, in the private sector…a lot of companies don’t do a lot of market research. And here lies the opportunity for the businesses to do market research, understand what products and services that there are, how they can expand what they’re doing… and so, you know, there’s opportunities all around you. You just have to look for them,” the businessman posited. With many local businesses looking to get into the oil and gas industry, Tucker contended that they must first understand the sector, what their needs are and where the gaps are for them to enter. He noted that there are lots of tools and initiatives that are available that can assist Guyanese companies to prepare themselves for these opportunities. These include the Centre for Local Business Development (CLBD), the Local Content Secretariat (LCS) and even tools within the private sector bodies such as at the Private Sector Commission (PSC) and the GCCI. He added too that persons wanting to enter the industry should also attend the annual Oil and Gas Conference that is held in Georgetown to better understand and scope out opportunities.

Expanded local content law