The government intends to submit the Local Content Act in 2027 and have it considered by De Nationale Assemblée (Suriname’s parliament). President Jennifer Simons announced this on Wednesday, September 30, during her annual address. The legal framework must be ready before the planned first oil production in 2028 and strengthen the position of Surinamese workers and companies in international investments.
According to Simons, the Local Content Board, which was established in November 2025, has prepared a preliminary draft of the Act. Following a national validation session with stakeholders, it will be further developed for submission to parliament.
The Board has held consultations with Surinamese businesses, international operators, service providers, sector organisations, knowledge institutions and government bodies. According to the president, the policy must extend beyond oil, gas and mining and contribute to the development of all economic sectors.
Protecting the position of local workers
Simons stressed that local content has two guiding principles for the government: protecting the position of Surinamese workers and ensuring the involvement of local businesses in international investments.
“It cannot be the case that local experts are passed over and expertise is flown in,” she stated.
In addition, international investments must contribute to the transfer of knowledge and technology. According to the president, it is not only about jobs and contracts, but also about building lasting Surinamese expertise.
“Unlike during the bauxite era, oil and gas must not only generate capital, but also leave behind lasting knowledge and capacity,” Simons said.
Advice on Local Content Authority
In addition to preparing the Act, the Board is advising on the establishment of a Local Content Authority. Work is also under way to align the Local Content Act with the Investment Act, the Procurement Act and the Economic Zones Act.
The government therefore aims to have a coherent legal and institutional framework in place before first oil production. Offshore activities must also generate sustainable economic value on land.
According to the annual address, first oil production for the GranMorgu project in Block 58 is scheduled for mid-2028. Simons sees oil and gas as drivers of broader economic development.
Specific obligations not yet explained
The annual address does not provide details of any minimum percentages for local employment or procurement, sanctions for violations, or the powers of the proposed authority. No exact date has been given for the validation session or submission of the bill.
The announced consideration in 2027 is therefore a policy intention. The obligations international companies will ultimately receive and how compliance will be monitored must become clear from the bill and the parliamentary consideration.
