linux - SSH tunneling for bypassing firewall (http and socks)

I'm having problems setting up the following:

I am on Linux on machine LOCAL (my notebook).

I ssh into a company machine REMOTE which is behind a firewall and ONLY allows incoming ssh connections (port 22), no outbound connections whatsoever. I do have full root access on both, LOCAL and REMOTE, REMOTE is however a VPS and behind a hardware firewall.

I now need network access on REMOTE (HTTP and other protocols) for downloading and building some software. I also need to access to NON HTTP protocols such as git.

I was hoping to set up a reverse SSH tunnel for using my LOCAL machine, where I could be running a socks server. So that network access on REMOTE would be redirected over the SSH tunnel to a socks server running on machine LOCAL.

How would I go about setting something like this up?

Thanks