The Vereniging Surinaams Bedrijfsleven (VSB, Surinamese Business Association) sees important points of reference in the policy intentions announced by President Jennifer Simons in her annual address for the 2027 service year. According to the organisation, implementation in particular will determine whether these plans lead to a better business climate, higher productivity and sustainable employment.
In its response to the annual address, the VSB describes the attention to macroeconomic stability, vocational education, economic diversification, local content and modernisation of government as positive, among other things. According to the association, these subjects align with issues that the business community has been drawing attention to for some time.
However, the VSB stresses that the government must translate the policy intentions into a concrete and verifiable implementation agenda. This requires clear priorities, responsible agencies, realistic timelines and measurable results. The organisation also calls for the structural involvement of the business community and other social partners.
Broadening the tax base
The association supports the commitment to financial stability and prudent fiscal policy. According to budget estimates cited in its response, government revenues for 2027 amount to SRD 70.1 billion and expenditure to SRD 80.9 billion. This projects a deficit of SRD 10.8 billion, equal to 4 percent of gross domestic product.
For the business community, the main issue is how the government intends to generate additional revenue. The VSB endorses the principle that the same citizens and companies should not repeatedly be taxed more heavily. Better tax compliance, a broader tax base and strengthened collection can, according to the association, contribute to a fairer distribution.
New fiscal and collection legislation must also safeguard legal protection, proportionality and practicability. Companies must retain sufficient opportunities to file objections and appeals, the VSB states.
Entrepreneurs want predictable procedures
The announced investment legislation and strengthening of the investment unit offer prospects, according to the association. An attractive investment climate, however, also requires predictable regulations, timely issuance of permits, transparent procedures and reliable government services.
According to the VSB, the annual address could have been more concrete on this point. In practice, entrepreneurs still face lengthy administrative procedures and ambiguities between government agencies.
The association welcomes the digitalisation of tax and customs processes and the introduction of paperless services. It additionally advocates for clear service standards, so that entrepreneurs know which documents are required, which agency is responsible and within what period a decision will be made.
Business community as a partner in vocational education
According to the VSB, the attention to education and the labour market is among the strongest points of overlap with its own priorities. The announced short, flexible and practice-oriented vocational programmes can help address shortages of technicians and other skilled workers.
According to the organisation, companies must be given a broader role than merely offering internships. The VSB wants businesses to also be involved in the content of training programmes, occupational qualifications, the professionalisation of teachers and determining future staffing needs.
According to the association, this commitment should lead to structural cooperation between government, educational institutions and the business community.
Local content must deliver concrete opportunities
The proposed Local Content Act also offers opportunities, according to the VSB. According to the annual address, the draft bill must be submitted in 2027 following consultations with stakeholders. In addition, the government is working on a Local Content Authority.
The association stresses that local participation in the economy must go beyond temporary contracts in the oil and gas sector. The policy must contribute to the lasting strengthening of Surinamese businesses, knowledge and technology.
To this end, local companies must gain access to financing, international certification, skilled personnel and tenders. Equal competitive conditions compared with foreign companies are also needed.
Concrete approach for production and infrastructure
The VSB supports the attention to agriculture, forestry, tourism and culture, with an emphasis on local processing and value addition. According to the organisation, the choice of these sectors must be developed into concrete programmes. It must be made clear which financing, infrastructure and fiscal and trade measures will be made available.
Reliable energy supply and good transport links also remain important conditions for growth. According to the association, power outages and logistical bottlenecks are already affecting companies’ production costs and competitive position. The VSB therefore calls for implementation programmes, investment schedules and transparent progress reports.
Now that the government has designated 2027 as a preparatory year for the upcoming oil period, there is little room, according to the VSB, to further postpone structural reforms. The main test will be whether the announced plans are actually implemented and deliver noticeable results for businesses and workers.
