Government of the Republic of Sierra Leone Ministry of Trade and Industry NEWS RELEASE National Local content Compact: A Partnership for Local Content Development Freetown, Sierra Leone, November 14, 2013 – The Government of Sierra Leone (GoSL) in 2012, approved the Local Content Policy . The Policy presents an opportunity for the local/indigenous businesses to maximize benefits from the increasing private investments in the country. However, the challenges affecting the private sector especially the small scale enterprises (SMEs) such as lack of affordable financing and adequate skills will require long-term planning and prioritization by the government to ensure effective implementation of the policy. The Government of Sierra Leone through the Ministry of Trade and Industry (MTI) has therefore planned a series of activities to facilitate a dialogue that will lead to a national compact on local content development in Sierra Leone. It will bring together key players on local content including a) Government-members of the Ministerial committee on local content, b) the private sector–mining companies, major agribusiness companies, business associations, industry associations, contractors, c) development partners and d) members of civil society. “Success will require coordination within Government and partnership with the private sector and our development partners to increase the local content use; and to stimulate growth of other sectors such as services in construction, tourism and financial services etc by creating linkages with the mining and agribusiness investments. This will help to driving economic diversification and reducing dependence on mining” said the Minister of Trade and Industry- Osman Boie Kamara.” The development partners (the GIZ, the World Bank, DFID and EU have expressed committment to assist the GoSL in implementing the Local Content Policy and are supporting the efforts of the Ministry of Trade and Industry in organizing the first of a series dialogue forums to better explain government’s plans regarding this implementation. ‘’Development partners have shown commitment to support GoSL to improve local content through various initiatives but a compact is needed in which all players including Government, the private sector and development partners commit to a roadmap to implement the local content policy’’ said GIZ Country Director in Sierra Leone Marina Mdaihli. In addition to the compact, the first dialogue forum which will be held on Thursday 14th November 2013 at the Bintumani Hotel will explore the possibility of a pilot implementation of the Local Content Policy based on the Growth Pole geographical framework being presented by the World Bank. The Growth Pole approach underscores that an economic hub generates spill-over effects to other sectors. The concept links core industries with supporting sectors in order to generate employment. “ As this is the first dialogue event which will result in a roadmap and a compact to support the local content policy implementation nation-wide, The National Local Content Compact will eventually be cascaded down into sub-national local content compacts following the pre-identified growth poles” (to be attributed to) said Dr. Richard Conteh- Chief of staff and Chair of the Ministerial Committee on the Local Content Policy The World Bank Country Manager in Sierra Leone- Francis -Ato Brown said “the World Bank will work with the GoSL and its development partners to develop the national local content compact which will enhance the implementation of the local content policy. We believe that implementation of this policy through such compact and on the growth pole geograpical framework holds huge opportunities to optimize the economic/social impact of foreign direct investment in the country”. Phil Evans, Head of DFID Sierra Leone, emphasized that: “Spreading the benefits of development through local content is an excellent aim, but can be a challenge. It also needs a clear focus on what can be achieved, and a realistic plan to make it succeed. DFID is pleased to be working with the Ministry of Trade and Industry to help build capacity to implement the local content policy, and to improve market efficiency for the benefit of both producers and consumers throughout Sierra Leone.” Some of the issues that will be discussed during the workshop will include: a. Importance of Local Content in SL and where we are (latest status on policy and strategy)? b. Challenges in delivering local content in SL (definition issues, low workforce skills, low industry capacity) c. Brief lessons for international and African best practices d. Some initial ideas - (e.g., common website where local suppliers and access and bid for projects, supplier development programs, funds availability etc)
Posted on: Thu, 14 Nov 2013 11:05:04 +0000
Trending Topics
Recently Viewed Topics
© 2015