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Local Content


“We have an international disposition by default, but local communities must be part of the equation, both in terms of environmental benefits and social participation. We do a good job and we grow when local communities grow and prosper with us. ”

Di Amato
Fabrizio di Amato

Maire Tecnimont Chairman and
Major Shareholder

Resource-rich countries in the Middle East and North Africa, particularly in the Gulf countries, are increasingly focusing on getting more out of their own resources. In order to gain more from their raw materials, some countries are introducing local content requirements into their laws, regulations, guidelines, sector contracts and bidding procedures. Whether it’s required by law or not in the many countries we operate, our Group has made local content another cornerstone of its sustainability strategy with positive business impacts. In fact, we believe local content is always a net positive for our business, as it increases the chances to win tenders, improving project reliability and quality through proximity to local suppliers, optimizing costs for certain locally procured goods and services, building trust with the local market and reducing risks associated with projects. On the other hand, by being a global company with a strong homegrown presence wherever it operates, Maire Tecnimont contributes to the socioeconomic well-being of local areas by creating local jobs, generating business for local suppliers, developing local skills and capacities, strengthening local entrepreneurship and transferring know-how and technologies to local partners. Through a greater integration with local communities, we can make a lasting and sustainable contribution to the economic and social development of all the local areas we are in. With this in mind, we have launched a multi-year strategic “In-Country Value” (ICV) project involving all the regions we operate in, along the lines described in the following chart.

Evaluating local content in quantitative terms is important to estimate the positive impact of our activities on local economies and communities. That’s why we have developed a model that will allow us to quantify our local footprint in terms of development, employment and human capital growth.

By applying this model to our 20 most representative projects worldwide, for 2019 the total value of locally purchased goods and services, labour and training was approximately 5 billion euros, corresponding to 52% of project costs.

MAIRE TECNIMONT IN-COUNTRY VALUE APPROACH

Employment

Employment

Creation of opportunities for locals and development of local workforce

training and education

Training and Education

Contribution to labor-market vocational training and support for local universities

technology transsfer

Technology Transfer

Contribution to supply-chain development for product and services in line with International standards

procurement

Procurement

Procurement of goods, services and technologies from local suppliers and subcontractors

property and exports

Properties and exports

Owning of fixed assets in the host country and local contribution through export revenues

Environment

Environmental preservation

Minimization of air, land and water pollution, waste reduction and biodiversity preservation

local community benefits

Local Community benefits

Contribution to local communities through health, education, safety, site rehabilitation and economic sustainability

engagement and communication

Stakeholder Engagement and Communication

Understanding of stakeholder concerns, effective communication and creation of aligned vision

fiscal contribution

Fiscal contribution

Local contribution through tax and equity obligations in a transparent manner, preventing corruption

LOCAL CONTENT IN OUR REPRESENTATIVE PROJECTS

Last update: 23/11/2020 21:05