Nationwide Local Content Development Systems
Local Content Development that broadly translates to ‘retention of wealth In-Country’ is one of the major challenges faced by countries with significant natural resources. Local Content specifically impacts Extractive Industries such as Energy and Mining since they potentially play a major part in Government revenue generation. With more countries facing a ‘bleed’ of resources and wealth due to gaps leading to external dependencies, implementing policies that play a balancing role between FDI and export models while at the same time ensuring the citizens are maximizing benefits, lead to critical policy level mandates that need to be implemented.
Local Content (also known as ‘In-Country Value’ in some countries) inspires the ‘nation first’ approach by prioritizing national growth through local spend, citizens’ career skills enhancements and entrepreneurship drive amongst many other sustainable parameters. However, such policies drawn out for Local Content are not going to see a tangible impact overnight, to say the least. While it is relatively easy to layout the policies and mandates through vision and consensus, the challenges of implementing such policies to the hilt by the Government requires huge resolve, patience, and a high degree of governance. The key is to put in the required structures to monitor the implementation effectiveness of Local Content over a long period while at the same time harmonize the Foreign Direct Investments (FDI) and Export routes with the Local Content Policies.
It is equally interesting to note that Local Content need not necessarily be implemented at the Federal / National Levels. There is a regional or state level approach too under the ‘region first’ or ‘state first’ model that can effectively function within national models. As a result, regional or state governments can indeed take the lead initiatives to implement through a ‘ring fencing’ model and draw out further positive impacts depending on the ground realities of the situation.
Local Content and businessgateways (India)
Putting it simply, we are ‘enablers’ of Local Content Development.
Our approach models are second to none when it comes to laying down a Holistic Technology-driven platform that perfectly aligns and adapts to the policies in place. We embrace an ‘inclusive’ approach of all sections of the society – right from Grassroots. MSMEs to conglomerates within the country and allow participation of international players who have a role and interest in the target markets.
For those potential Which are yet to implement a Local Content Development Initiative, we connect right at the beginning of the journey and work intrinsically with you and your stakeholders through World-class, Long-term consulting, best practices experience and implementation models. We understand the grassroot challenges of Local Content Development while trying to navigate towards long term sustainable goals.
For those who are already on their way implementing Local Content Development initiative, we can certainly come in from an empowerment perspective by enabling our robust online platform to further improve efficiency of the existing model by studying challenges and impact points to speed up the Local Content Development Implementation.
Our USP is not in just delivering a state-of-art online Local Content platform, but also operating it on behalf of our stakeholders thereby freeing them from the huge task of constantly monitoring and tweaking the effectiveness of implementation through our layered Approach to business functions.
Our Local Content Model approach is based on a multi-stream strategy. They include:
- Onboarding and validating local companies including MSMEs (read: MSME Business Stimulation)
- Tracking Project spend on Contracts for local spend
- Setting a Local Content Plan for Contracts and monitoring its implementation
- Monitoring effectiveness of MSME / LCC obligation awards
- Implementing Nationalization through effective local skills utilization
- Tracking tangible progress through Targets driven systems
- Generating strategic and operational insights for stakeholders
- And much more!
In a nutshell – Local Content isn’t a destination, it’s a journey on the nation’s road to success. Count us in!
