Local Content Policy
The Local Content Policy is a 6 page document with a description about the document and instructions on tailoring the document. The document also provides guidelines for developing a Local Content Policy, an introduction into Local Content Policy and a document revision record. The document then goes into detail of the policy and what the company will be committing to do. The document provides sections for a company to insert their name, to tailor to the document to your organisation.
A Local Content Policy outlines your organisation’s commitment to identifying and engaging local businesses in the regions where you operate. Depending on your industry and country or region of operation, there may be government-mandated requirements for engaging local businesses and workforce.
This policy sets out general principles for local content only. An effective local content policy can stimulate local value creation and result in a number of socio-economic benefits (improved economic activity, upskilling the local workforce and building local supply chain capabilities) as well as reducing your costs by sourcing locally (i.e. freight & transport).
Promitheia recommends making this Policy available to all employees, as well as featuring it prominently on your company website (if applicable). If you would like to know more about how to implement Local Content policy and strategies, you can contact Promitheia directly to arrange a one-on-one virtual meeting.
Promitheia recommends reviewing and updating this policy annually to ensure it remains up to date. Depending on your industry, your organisation may also wish to consider implementing a Local Content Strategy to specifically address how you will meet Local Content commitments.