Local Business Development Plan. The Company will make reasonable efforts to work with local banks to encourage their participation in the financing of the working capital requirements of local contractors and suppliers. A listing of local suppliers for consumables and capital items will be maintained at the Company offices during each phase of the Project as noted above. The listing would give particular emphasis to businesses directly or indirectly majority owned by the State citizens. Suppliers would be encouraged to register for inclusion in the listing, and would be given the opportunity to tender during the procurement process on a non-discriminatory basis. A listing of local contractors for services required by the Project will be maintained at the Company’s offices. The listing would give particular emphasis to contractors directly or indirectly majority owned by the State citizens. Contractors would be encouraged to register for inclusion in the listing, and would be given the opportunity to tender during the procurement process on a non-discriminatory basis. A quarterly posting will be made at the Company’s offices in the State to provide information to potential suppliers and contractors of potential goods and services requirements for the Project on a quarterly basis. A listing of bids currently being considered would be maintained at the Company’s offices for review by contractors and suppliers. The same such listing would also be published in local newspapers in the affected region, thereby giving suppliers and contractors the earliest possible notification of tenders. A meeting shall be convened semi-annually by the Company to which will be invited relevant political and chamber of commerce organizations including but not limited to representatives of the State and the Local Government. The meeting will concern itself with measures taken by the Company to implement proposals for local business development contained herein, the Company’s compliance with this agreement and additional avenues to encourage local business participation in the Project.
Local Business Development Plan. The Company resolves to cooperate with the Government in carrying out its governmental responsibilities by developing a Local Business Development Program to promote economic development and growth in the area of communities impacted by the Project. Such a program would be modified from time to time to fit the existing circumstances related to the particular operating phase (exploration, development, construction and operation) in the life of the Project. The program would be based on the objectives listed in Annex C.
Local Business Development Plan. The Company will make reasonable efforts to work with local banks to encourage their participation in the financing of the working capital requirements of local contractors and suppliers. A listing of local suppliers for consumables and capital items will be maintained at the Company offices during each phase of the Project as noted above. The listing would give particular emphasis to businesses directly or indirectly majority owned by [COUNTRY] citizens. Suppliers would be encouraged to register for inclusion in the listing, and would be given the opportunity to tender during the procurement process on a non-discriminatory basis. A listing of local contractors for services required by the Project will be maintained at the Company’s offices. The listing would give particular emphasis to contractors directly or indirectly majority owned by [COUNTRY] citizens. Contractors would be encouraged to register for inclusion in the listing, and would be given the opportunity to tender during the procurement process on a non-discriminatory basis. A quarterly posting will be made at the Company’s offices in [COUNTRY] to provide information to potential suppliers and contractors of potential goods and services requirements for the Project on a quarterly basis. A listing of bids currently being considered would be maintained at the Company’s offices for review by contractors and suppliers. The same such listing would also be published in local newspapers in the affected region, thereby giving suppliers and contractors the earliest possible notification of tenders.
Local Business Development Plan. Comments suggested that this article should be combined with an article regarding Employment and Training of Local Citizens. Other comments suggested that “guaranteed employment” of local populations might be unrealistic.
Local Business Development Plan. The Licensee resolves to cooperate with the Ministry and Local Government in carrying out the State’s responsibilities by developing a local business development program to promote economic development and growth in the area of communities impacted by the Project. Such a program would be modified from time to time to fit the existing circumstances related to the particular operating phase (development, construction and operation) in the life of the Project. The program would be based on the objectives listed in Annex C.
