What are the co-installed initiatives of your ministry to ensure sustainable economic growth and resilience in Suriname's economy?
The government of Suriname has developed a multi-year development plan aimed at addressing key challenges and achieving sustainable economic resilience. One of the primary initiatives led by the Ministry of Economic Affairs is the establishment of an SME fund. This fund provides small and medium enterprises — the backbone of any economy — with easier access to financing. Instead of direct cash loans, businesses receive essential tools or services, and they also benefit from coaching, training, and guidance to help them establish and grow.We’ve also intensified efforts to promote regional integration with the Caribbean and Latin American markets to expand trade opportunities and deepen economic ties. After years of economic isolation, particularly before the rise of sectors like oil and gas, Suriname is re-engaging with global trade partners and strengthening bilateral agreements to access new markets.In addition, we are heavily investing in digital transformation to improve the ease of doing business in Suriname. Bureaucratic delays are a burden we seek to eliminate by introducing efficient e-government services that simplify administrative processes for both businesses and investors.Another priority is upskilling personnel. We continually train and educate ministry staff to keep pace with international standards and evolving global economic trends. Legal and regulatory reforms are also underway to streamline business operations, foster entrepreneurship, and increase export capacity.On that front, we’re not just focusing on traditional agricultural exports like rice, bananas, and fish but also supporting value-added processing to better position Suriname in the global supply chain.Lastly, we are dedicated to attracting foreign direct investment by facilitating a supportive environment for businesses and investors, strengthening Suriname’s role in the regional and global economy.
How is Suriname leveraging technological advancements and digital transformation to improve its business environment and drive economic growth?
The Ministry is actively promoting technological advancement and digital transformation through several impactful initiatives. One of the key areas of focus is building capacity in artificial intelligence (AI), with ongoing efforts to strengthen the sector. Alongside this, programs are being developed to foster the ICT industry and create incentives to encourage its growth.In terms of sustainability, the Ministry is advancing energy efficiency by promoting the installation of solar rooftop systems, contributing to a greener future for the country.On the digital transformation front, significant strides have been made in digitalizing the business licensing environment, which has streamlined processes to enhance transparency and efficiency for stakeholders.Furthermore, a new digital platform for consumer protection has been created to ensure greater accessibility and safeguards for consumers in this rapidly evolving digital landscape.Together, these initiatives are part of a broader strategy to position Suriname as a leader in technological innovation and sustainability.
What specific industries or projects are being prioritized to attract foreign and domestic investments in Suriname?
Suriname is focused on attracting both foreign and domestic investments by targeting sectors that will drive long-term economic growth and diversification, such as agriculture, manufacturing, and tourism. To facilitate this, the government is working on a new law that will introduce tax incentives and benefits, including exemptions aimed at boosting investments in these key sectors.In addition, we’ve simplified the business registration process to reduce red tape, making it easier for both local and international companies to establish operations in Suriname.Strengthening the legal and regulatory environment has been a priority as well. This includes enhancing property rights, enforcing contracts, and creating a transparent framework for foreign investors to navigate our systems with ease.Public-private partnerships (PPPs) have also been encouraged, especially for infrastructure projects like road development, port expansion, and energy generation. These partnerships help mobilize private capital and expertise to support public sector development.The Ministry of Finance and Planning is also working on reforming the tax system to make it more competitive and business-friendly. Simplifying tax procedures and providing clarity on tax obligations are key components of our efforts to create a more attractive environment for investment.
How is the government of Suriname working to expand markets and boost exports to enhance the country’s economic growth?
Suriname is working on diversifying its exports and moving away from relying solely on the export of natural resources. The government is supporting companies that want to export value-added products. Instead of just exporting raw materials like timber and fish, we’re encouraging industries involved in processed foods, wood products, etc.to boost export revenue.We’ve also been exploring new markets in Asia, the Middle East, and Africa, expanding diplomatic ties and participating in trade missions to open new opportunities for trade.As part of the CARIFORUM, Suriname benefits from a trade agreement with the European Union, known as the Economic Partnership Agreement (EPA). This agreement offers preferential market access to EU markets, which is a significant advantage for our exporters.Additionally, the Ministry of Economic Affairs has been actively participating in international trade fairs and expos, showcasing Surinamese products and services. This initiative is designed to provide Surinamese businesses with the opportunity to build direct relationships with buyers, suppliers, and potential investors.
How is your ministry promoting digital literacy and skills development in Suriname for a tech-driven economy?
Digital transformation is a major focus for Suriname, and we’ve taken significant steps to transition our economy toward a modern, diverse, and innovation-driven future. One of the key initiatives is the establishment of a state-of-the-art Innovation Center, developed in close collaboration with major educational institutions and key players in the innovation ecosystem. This center represents a groundbreaking effort to foster creativity, entrepreneurship, and technological advancement.The center will feature a cutting-edge lab and incubator space, offering young innovators, startups, and SMEs access to critical resources, mentorship, and support networks. It will serve as a hub for turning innovative ideas into viable businesses and scalable solutions, bridging the gap between academic research, industry needs, and entrepreneurial ambitions.In addition to this, we’ve implemented policies to drive technological transformation. For example, business permits, which used to be a manual process, are now fully digital, allowing businesses to apply for permits online from anywhere, removing geographic barriers.However, challenges remain. Suriname has a small population of around 650,000 people, and only 9% are university graduates. Over the past decade, government subsidies fostered a dependency culture, and now we are working to re-educate and motivate the population. Our goal is to shift mindsets toward self-reliance and upskilling for a tech-driven economy.We’re partnering with organizations to improve education and training, but rebuilding the nation after a prolonged crisis is no small task. The Innovation Center, along with our broader efforts to strengthen the country’s innovation infrastructure, is a key part of creating a dynamic ecosystem that drives sustainable economic growth. By empowering the next generation of innovators and supporting SMEs in adopting advanced technologies, we aim to position Suriname as a leader in innovation on the global stage.
How is Suriname encouraging U.S. tech companies to invest in the country’s digital transformation?
Suriname presents a compelling opportunity for U.S. tech companies to invest in its digital transformation, driven by a rapidly growing economy, fueled by the booming oil and gas industry. This economic expansion is creating an increasing demand for modern infrastructure, e-commerce platforms, and digital financial services to meet the needs of both businesses and consumers.Strategically located as a gateway to the Caribbean and South America, Suriname offers access to a broader regional market, making it an ideal hub for growth and connectivity.The government is also actively working to improve the ease of doing business by digitalizing processes like business licensing. This not only lowers barriers for investors but also enhances transparency, efficiency, and communication with stakeholders.Suriname’s strong digital infrastructure creates attractive opportunities for companies to expand broadband, 5G networks, and data centers, further supporting the digital transformation efforts.In addition, fostering stronger ties with the U.S. Embassy provides a pathway for collaboration, policy insights, and partnerships, aligning investment efforts with Suriname's ambitious digital transformation agenda.All of these factors combine to make Suriname a promising and strategic destination for U.S. tech investment.
What is your vision for Suriname in the next five years?
My vision is for Suriname to grow rapidly by 2028. With the opportunities presented by the oil and gas sector, we are becoming a key destination for global investors.Our focus is on maintaining transparency and legal integrity while fostering a business-friendly environment. Within two years, I believe we’ll fully emerge from the current crisis and be positioned as one of the top Caribbean nations in terms of economic growth.
Finally, what would you say to those considering Suriname as an investment or tourism destination?
Suriname is a unique destination for green tourism, offering an untouched interior with incredible biodiversity. While we may not have beaches like some other countries, we boast beautiful rivers, waterfalls, and unique cultural districts that set us apart. We’re currently conducting a study to further develop our tourism sector, tailoring experiences for different districts, such as Brokopondo, known for its resorts and blackwater creeks, and Nickerie, which highlights Indian-origin cultural experiences.In addition to tourism, agriculture is a key sector for investment. The government is encouraging both local and foreign investors to contribute to the growth of crops like rice and bananas, as well as agro-processing industries. We’re focusing on creating value-added products for export, which will diversify and strengthen our economy.As for investment more broadly, Suriname is open for business—legally and sustainably. With growing interest in sectors like oil and gas, manufacturing, and agriculture, we welcome investors who want to be part of this exciting journey.Suriname has also been investing in green energy, particularly in renewable energy projects like hydroelectric power, solar energy, and bioenergy. These efforts align with the global shift toward sustainability and offer great opportunities for both foreign and domestic investors. We believe that ecotourism, cultural tourism, and green energy are essential pillars for our sustainable growth.
