According to IPEICA, Local content strategy:
Local content is the added value brought to a host nation (or region or locality) through Workforce development (employment of local workforce and training of local workforce) and Investments in supplier development (developing supplies and services locally and procuring supplies and services locally).
An effective local content program usually features training and skills development elements to help local populations achieve the minimum standards required by the company — either in terms of general education or specialist skills. Such training can be an in-house initiative, or the company can look to local institutions to provide any necessary training. In either case, the program should be based on a detailed analysis of local capabilities and a schedule of the skills requirements over the life of the asset.
Providing a structured Local Employment process is essential in generating participation from a local population. A transparent policy on local employment will help neighboring communities understand the company’s commitment to the available workforce — including the minimum standards that must be met. It is particularly important to establish a clear policy where recruitment is being used to promote participation of specific groups.