Efficio’s Local Content Development service helps legislate and regulate procurement practices by national and local authorities and by companies, foreign or domestic-owned, especially where these are performing ‘public’ functions.
Developing countries often find their economic potential is undermined when public and private procurement expenditures flow out of the country to foreign national companies.
For those with economies based largely on natural resources and primary production, capturing and retaining the potential economic benefit from jobs and skills is a huge opportunity to develop a long-term sustainable economy.
Our work with governments helps ensure that goods and services for the primary industries are procured locally. We also explore whether there is a viable base for developing secondary and tertiary manufacturing and service sectors.
We provide the tools and knowledge that enable governments to create and implement new procurement processes, systems, measurement and reporting processes. This ensures the domestic population will benefit from job creation, skills development, investment and long-term sustainable growth.
Efficio is currently engaged by a G20 Middle East nation to develop a national Local Content Program. To calculate the potential benefits and identify target areas we built an economic forecasting application with over 23 million lines of data, including the expenditure from the largest major corporations in the country. The transformation program is expected to create over 500,000 jobs for national citizens and $50.8 billion of retained economic value by 2020.