What specific sectors in Suriname hold the greatest potential for increased trade and investment with the United States, and what measures are being implemented to facilitate this?
Suriname is on the verge of becoming an oil-producing country, so naturally, one of the key sectors international investors are focusing on is oil and gas. With this, there’s a cascading effect—oil and gas will transform various sectors such as healthcare, transport, education, real estate, hospitality, and more.For example, in real estate, we need four major hotels to double our bed capacity, apartment buildings for expats, and more diverse restaurants. Beyond oil and gas, we have traditional sectors like mining—where a U.S.-based company, Newmont, is already active—and agriculture. Suriname has vast, unused land in the coastal region ideal for agriculture, and we’re committed to food security, both locally and globally.Tourism, fisheries, ICT, banking services, and logistics also hold significant potential. Suriname is strategically located to serve as a logistics hub for the region, but developing these sectors will require investments over the next 20–30 years.We are a carbon-negative country—one of only three in the world. While preserving our 93% forest cover, we offer investment opportunities in agriculture and other green initiatives. Add to this our stable legal system, a well-educated and culturally diverse society, and a peaceful, disaster-free environment, and we believe Suriname offers a secure and attractive option for U.S. investors.We encourage partnerships with local companies to help investors navigate the market and to promote local content development. Incentives, both fiscal and non-fiscal, are provided to support these partnerships.
Can you elaborate on the incentives your ministry is offering to attract investors?
We offer fiscal incentives, such as tax benefits, and non-fiscal incentives, including land access and permits. International companies in oil and gas will also be required to provide local content by employing local workers and purchasing locally produced goods.Incentives include fiscal measures like tax reductions and non-fiscal measures such as access to land, permits, and facilities that are generally restricted to nationals. For oil and gas, we are emphasizing local content requirements, encouraging international companies to employ and purchase from local businesses. Those partnering with local companies stand to benefit significantly from these measures.
Are there any recent reforms or initiatives demonstrating Suriname's commitment to becoming more business-friendly?
A new investment code was recently submitted to the National Assembly. This code consolidates various pieces of legislation and provides fiscal and non-fiscal incentives for national and international businesses.We have also liberalized access to the country. For most nations—including the U.S. and European countries—visas are no longer required; visitors simply pay an entry fee upon arrival. Work permits, which once took months to process, are now issued within three weeks.These reforms are part of our broader effort to improve the ease of doing business and to make Suriname an attractive hub for both local and regional markets.
What steps is Suriname taking to explore new trade agreements or partnerships to unlock opportunities in other markets?
We are finalizing double taxation avoidance treaties. Recently, we signed one with Curaçao, and Hong Kong; middle eastern countries, Turkey and others have also expressed interest. Such treaties are vital for attracting businesses.Through CARICOM, we are part of several bilateral trading agreements with countries like Colombia and the Dominican Republic, as well as under the Economic Partnership Agreement with Europe.We are also strengthening investment, trade and economic ties with South American countries, partly due to interest in oil and gas, and we see growing potential for collaboration in this region.
As one of the few carbon-negative nations, how is Suriname leveraging its unique environmental status in global climate negotiations and partnerships?
Being one of the world’s three carbon-negative nations is both a privilege and a responsibility. Our priority is maintaining this status, even as we develop our oil and gas industry using environmentally friendly practices and compliance with international standards. For instance, flaring is prohibited, and we will employ advanced technologies to minimize our carbon footprint.However, we are clear that the world’s polluting countries must compensate us for our contributions. Suriname absorbs emissions and produces oxygen for free, yet the financial support promised by these countries has not materialized. This double standard is unacceptable, and we will continue advocating for fair compensation while using oil and gas revenues to transition to a carbon-free economy in the coming decades.
Can you share examples of successful American companies that have invested in Suriname?
Alcoa, based in Pittsburgh, operated in our bauxite sector for over a century. Newmont Gold Mining Corporation, one of the largest gold mining company globally, is active here. In the oil and gas sector, we have companies like Schlumberger, Halliburton, and Baker Hughes. American Airlines previously served Suriname, and we hope they will return soon.
What is your vision for Suriname in the next 5–10 years?
Our vision is to achieve responsible and sustainable development across all sectors. While oil and gas will play a significant role in transforming our economy, it is not the endgame. We aim to diversify and strengthen sectors like agriculture, tourism logistics, and services to prepare for a post-oil and gas era.Investments will focus on education, healthcare, security, and environmental protection to create a durable economy by 2050. Our goal is to ensure that every citizen benefits from this transformation.
Finally, what message would you like to convey about Suriname as a destination for tourism and investment?
Suriname offers a unique blend of cultural diversity, natural beauty, and economic opportunity. While we don’t cater to mass tourism, our biodiverse interior, bird-watching, and cultural experiences provide a distinctive attraction.For investors, Suriname is a peaceful, disaster-free, and strategically located nation with a stable political and economic environment. With its proximity to the U.S. and the Caribbean, Suriname is an ideal hub for business and tourism.We invite everyone to explore and invest in Suriname—a country of immense potential and promise.
