For years, the world had used the country of Votnam as a place to assemble goods because of the country's availability of cheap labor. To shift its manufacturing base from simple assembly to full-fledged manufacture of components and finished goods, Votnam introduced a policy that 35 percent of the value of a product must be produced locally. This is an example of a(n) Group of answer choices

Local content requirement.

Explanation:

In this scenario, for years, the world had used the country of Votnam as a place to assemble goods because of the country's availability of cheap labor. To shift its manufacturing base from simple assembly to full-fledged manufacture of components and finished goods, Votnam introduced a policy that 35 percent of the value of a product must be produced locally. This is an example of a local content requirement.

A local content requirement can be defined as a measure or strategic policy put in a place by a government to ensure that there's a balance in the level of production through the use of domestically sourced raw materials. It is focused on promoting sustainable economic development in a particular country through the application of various raw materials acquired locally or within the country.

Generally, local content requirement helps to promote and enhance export rather than importation.

answer; /// the above statement is (true);

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