What are the key sectors currently attracting the most foreign investment in Suriname, and what makes these sectors particularly appealing?
Suriname’s focus is primarily on its abundant natural resources, including gold, oil, and bauxite, while also placing significant emphasis on renewable energy and ecotourism. These sectors are highly appealing due to their richness and the country’s strong commitment to sustainability.
We’re also seeing growing opportunities in agriculture, particularly in organic and sustainable practices like biofuels and forestry. Additionally, emerging sectors such as renewable energy and aquaculture are becoming key areas for growth and investment.
Suriname has been making strides to improve its business climate. What specific reforms or initiatives have been implemented to enhance the ease of doing business for both local and investors?
We are actively streamlining business registration processes to reduce bureaucratic hurdles, and as part of our E-Government plans, we are developing an Investment Single Window to further simplify procedures. Additionally, the government is working on a new investment law that will provide increased protections for international investors, improving overall investor confidence.
We are also collaborating closely with the private sector and Ministries to develop special economic zones (SEZs), with the first of several planned to open up the manufacturing sector to new investors, helping to attract more industrial growth in Suriname.
How is SITA working to expand Suriname's presence in international markets and attract global investors?
Our focus is on two main strategies:
First, we’re building strategic trade partnerships that promote green and sustainable exports. Suriname is actively working to leverage our 93% forest coverage and carbon-negative status to develop sustainable industries for both timber and Non Timber Forest Products.
Second, we are engaging in global investment forums, including events like the recent International Business Conference, which attracted local and international businesses to explore collaboration opportunities. We also participate in trade fairs at national, regional, and international levels to showcase Suriname’s products and investment opportunities.
What initiatives are in place to support local SMEs, and how do these efforts contribute to the overall investment climate in Suriname?
SITA is committed to supporting SMEs in a number of ways. For companies who either export or who plan to export we are launching the export accelerator program that will help SME’s develop and then implement data driven export marketing strategies. To help support this initiative, in the coming year we plan to train 30 local consultants to become certified export advisers. We are also creating a matching grant scheme to help companies reduce the risks of exporting through provision of targeted grants for qualified companies
We are also in the planning stages of a supplier development program to help local companies develop the capacity to become suppliers to the many international investors who are coming to Suriname. This will involve a matching process supported by training and small grants to help develop sustainable commercial relations.
Can you share examples of successful collaborations between Suriname and international investors? What lessons have been learned from these partnerships?
We’ve established MOUs with potential investors and conducted rigorous due diligence to ensure that the opportunities align with Suriname’s long-term goals. Successful partnerships have included companies in the oil and gas sector, like Halliburton, Total Energies, and Ramps Logistics. However, we are actively working to diversify into more sustainable sectors, including agriculture, renewable energy, and forest regeneration as well as port and logistics infrastructure opportunities. Our clients appreciate the fact that our networks across government can save them time when it comes to the bureaucracy of investing as well as providing them with useful contacts for the essential suppliers that they need.
What are the key challenges foreign investors face in the Surinamese market, and how is your agency addressing these issues?
Bureaucracy remains a significant challenge, as does the need for skilled personnel to support investment projects. We are working to streamline processes and provide educational programs to build local expertise, especially in sectors like oil, gas, and renewable energy.
How do you see Suriname’s investment landscape evolving over the next five years, particularly in terms of shaping the country as a competitive and diverse investment hub in the region?
The Suriname landscape is set for significant growth, especially with the booming oil and gas sector driving much of the current development. However, our real focus is on sustainable and green investments. We aim to ensure balanced development that reduces over-reliance on any one industry.
Suriname’s strategic geographic location and abundant natural resources, combined with our commitment to environmental stewardship, position us well. We are making deliberate efforts to position Suriname as a leader in sustainable development and green innovation.
Moreover, we are investing in a skilled workforce and eco-friendly infrastructure, which will be essential in meeting future demands and ensuring that we are a competitive and diversified investment hub in the region.
Suriname is known for its rich biodiversity and commitment to sustainability. What steps are being taken to promote green and sustainable investment opportunities?
Suriname’s carbon-negative status is a key asset that sets us apart. We’re developing incentives for renewable energy projects, forest conservation and eco-tourism. We’re promoting green investments while ensuring sustainability..
The government recently published its Green Development Strategy (GDS) which will guide and prioritize our actions in the coming years.
What message would you like to share with potential investors considering Suriname?
Although Suriname is a small market by itself, we offer outstanding opportunities to provide a base from which to supply the wider and tariff protected Caribbean market. Suriname offers a unique combination of natural beauty, cultural diversity, and a strong commitment to sustainability. With our welcoming and investor-friendly environment, it's truly an ideal destination for responsible investments. SITA will help investors access the many exciting opportunities for businesses to grow in harmony with a thriving, environmentally conscious economy, making it a great place for those looking to invest in both growth and sustainability.
