The Vereniging Surinaams Bedrijfsleven (VSB) drew attention during consultations with Fitch Ratings to predictable government policy and a stronger investment climate in Suriname. According to the association, economic recovery must also be noticeable for businesses, enabling them to invest, produce and create employment.
The consultations took place this week and focused on economic developments and the business climate in Suriname. The VSB presented the experiences and concerns of the private sector. According to the association, the restoration of public finances and monetary stability are important conditions for sustainable economic recovery. In addition, policy must provide scope for production growth and new investments.
During the discussion, issues including the predictability of legislation and regulations, fiscal developments and access to financing and foreign exchange were addressed. The efficiency of government procedures and the importance of a broader economic base were also discussed. According to the VSB, these issues affect the confidence of entrepreneurs and investors.
The development of the oil and gas sector was also part of the consultations. The VSB stressed that strong institutions and transparent governance are needed to seize the opportunities offered by this sector. The association also called for attention to local content, in other words the involvement of local businesses and workers, and to using future revenues for the sustainable development of the broader economy.
According to the VSB, consultations with international institutions such as Fitch are important in ensuring that the experiences of the business community are taken into account in the assessment of Suriname’s economic development. The association advocates policies that link macroeconomic stability with production growth, investment and strengthening the competitive position of businesses.
