Host countries may use local content as part of an industrial policy aimed at delivering benefits beyond the payment of royalties and taxes. Many oil and gas companies take a strategic approach to local content efforts in recognition of the wider business benefits of creating and sharing value between themselves, local communities and countries.
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This may mean localizing less content. Localized content should be seen as if it was created by local people for local people. For example, shorter product descriptions or well-localized online.
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What is Local Content? A country’s economy is progressive and sustainable if its economic fundamentals are strong. With proper governance, a country’s labor, market and resources can be to be utilized efficiently to fulfill its economic requirements.
A good example of this kind of local content is the now famous Kulahappy videos on YouTube. Advocates of this definition of local content believe that the creation of local content will create jobs, preserve culture and spur the use of Internet in the daily lives of the local people as content on the Internet will now be relevant to their lives.
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commentary, because local content is so context specific. The profiles are intended as a tool for policy makers, researchers and citizens seeking to understand and compare how local content is dealt with in other countries, and to provide some examples of language that might be adopted in a framework to achieve local content goals.
An announcement made the headlines just a few days ago that could help recalibrate and accelerate globalization in a sustainable way. China announced it was going to invest $124 billion in order to strengthen the new Silk Road (also know as One Belt, One Road) aiming to boost global development, trade, and cooperation.