Suriname must seize opportunities in the energy sector to strengthen production, exports and local business activity as well. This was stated by Minister Melvin Bouva of Foreign Affairs, International Trade and Cooperation on Tuesday, October 13, during the fourth International Business Conference Suriname–Guyana.
According to the minister, attracting investment must deliver concrete results, including employment and new markets. Bouva took part in a ministerial panel on investment conditions at the opening of the conference, focusing on policy, infrastructure and industrial planning.
Ministers Andrew Baasaron of Economic Affairs, Entrepreneurship and Technological Innovation and Raymond Landveld of Transport, Communication and Tourism also participated. Development economist Sherida Mormon moderated the discussion.
According to Bouva, Suriname’s economic development must not rely solely on energy extraction. The sector must also contribute to industrial development, stronger businesses and greater food and energy security. Closer cooperation with Guyana, CARICOM and other international partners can, in his view, expand opportunities for trade and investment.
Baasaron pointed to the importance of reliable and predictable transport links between Suriname and Guyana. According to him, these are necessary for trade and entrepreneurship. He also sees opportunities for cooperation with Guyanese companies that already have experience in the offshore sector. Landveld likewise stressed the importance of better connections.
The panel also discussed obstacles facing entrepreneurs, including fragmented procedures, unclear requirements and differences in regulations and customs processing. Through the Suriname Investment and Trade Agency (SITA), the government aims to better coordinate support for investors.
Work is also being done on a stronger investment framework, including the proposed Investment Act and SITA Act. A Single Investment Window is also being prepared to better align procedures and provide investors with greater clarity. The Supplier Development Programme is intended to help smaller Surinamese businesses develop into competitive suppliers for major investors.
Bouva called on the business community to explore cross-border partnerships, joint ventures and regional supply chains. According to him, entrepreneurs can report the obstacles they encounter to SITA and the relevant government agencies.
According to the minister, the success of the investment policy must be reflected in implemented projects, strengthened businesses, new jobs and access to new markets. The number of investment discussions held is not decisive in this regard.
The conference is being held from October 13 to 15 under the theme ‘From Energy to Industry: Investing in the Suriname–Guyana Value Chain’.
