Risk Management Publishes Gabriel Procaccini, Parker Lee Article on Emerging Market Labor Shortages
Risk Management, a publication of risk management society RIMS, has published “Worldwide Workforce: Labor Challenges in Emerging Market Energy Projects,” an article written by Akin Gump energy partner Gabriel Procaccini and associate Parker Lee.
The article discusses the growth in emerging markets, their attractiveness to emerging market energy project explorers and developers (EMEPEDs) and the challenges occasioned by shortages in skilled, educated labor in these markets due to the increasing scale and complexity of energy projects.
The authors note that “Tremendous opportunities exist for energy investors in emerging markets. The magnitude of returns, however, will depend in part on how EMEPEDs solve labor shortages impacting the energy industry. By identifying and working with competent local counsel, knowing and complying with local content regulations, carefully evaluating labor needs and the local skilled labor market, and utilizing, training and managing the expatriate labor force, an EMEPED can mitigate its labor risk and increase the probability of success in its next emerging market investment.”
To read the full article, please click here.