With 189 member countries, staff from more 170 countries, and offices in over 130 locations, the World Bank Group investment opportunities in oil and gas sector a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The World Bank Group works in every major area of development. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth.
Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. The conference’s main objective is to share and discuss recent research on local content policies, and how to make them more effective for the benefit of governments, industry, and communities. Developing resource-rich countries have a real opportunity to harness their oil, gas and mining resources for sustained and inclusive growth. One of the most potent ways to achieve this objective is to generate endogenous growth based on increased domestic content for economic diversification. When properly designed, these policies also generate opportunities for regional integration and international trade and can gradually reduce countries’ dependence on external aid. The World Bank’s Sustainable Energy Department and Oil, Gas and Mining Unit are organizing a Global Conference on Local Content in the Oil, Gas, and Mining sectors, to be held in Vienna on September 30-October 1, 2013. The two-day event will gather policy makers, industry associations, major petroleum, mining and service companies, suppliers associations, practitioners, civil society representatives, and other partners and donors from over 50 petroleum and mining producing countries.