Local content policy requires firms to use at least a specified minimum amount of domestically produced inputs into their production process with the aim to enhance domestic industrial base, innovation, transfer of technology, employment generation, production efficiency and a check against trade imbalances.
Most developed countries have employed local content guidelines to boost domestic value addition. In order to embrace local content today in Kigali, Rwanda, more than 400 regional stakeholders from public and private sector will deliberate on the tie between application of local content requirements and regional industrialization during the second East African manufacturing summit.
The summit which ends on Thursday will also provide an avenue for the private sector to share practical insights on the linkages among local content, domestic value addition and promotion of industries. Read more. Source | Daily Monitor