The national policy on local content for Sierra Leone will ensure that there are linkages between foreign companies or enterprises and the local economy. This policy, builds on the efforts of the Government to promote foreign investment that will require investors to meet a set of performance targets in their operations.
The rationale for the policy is to ensure that there is sufficient linkage between the local economy and foreign enterprises. By setting specific performance requirements, the Government aims to ensure that the benefits that Sierra Leone seeks to obtain from Foreign Direct Investment (FDIs) including improved technology and managerial skills are integrated into the domestic market and distribution networks. The policy designs a benchmark for negotiations of investment agreements which will be guided by a set of requirements in the policy that could apply not only to large domestic and foreign firms but also to their affiliates such as operators, contractors, subcontractors, and other entities involved in any project, operation, activity or transaction in Sierra Leone.
The overall goal of the Local Content Policy is to promote growth and development of the domestic private sector by creating linkages with domestic and foreign firms through the utilization of local resources and products, promote the integration of the Sierra Leoneans in all economic activities. The Local Content Policy will also set a policy framework for the consistent implementation of sectoral based local content policies for key sectors of the economy including oil and gas, mining, tourism, agriculture.
The objective of the policy is to develop the human and institutional capacity of Sierra Leoneans through training and transfer of knowledge and technology from foreign firms to Sierra Leoneans; it also seeks to promote employment of Sierra Leonean citizens through participation in the private sector.