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Suriname Aims to Ease Business Hurdles for Foreign Investors

President Chan Santokhi Leads Discussions to Enhance Doing Business in Suriname and Foster Foreign Investments

Suriname Aims to Ease Business Hurdles for Foreign Investors

On Friday, President Chan Santokhi engaged in discussions with various stakeholders about the challenges facing businesses and investments in Suriname. These barriers were addressed during the Suriname Energy Oil and Gas Summit. The President stated, “We want to transition from ‘doing business in Suriname’ to ‘easing up doing business in Suriname.'”

Suriname’s development and prosperity, through partnerships with legitimate foreign companies and investors, will be boosted by advancements in the oil and gas sector. However, it has been evident that there are issues when conducting business with foreigners, primarily related to the difficulties foreign experts encounter while working in Suriname.

One of the obstacles pertains to the cumbersome bureaucracy involved in obtaining work permits, residence permits, and places of residence in Suriname. The government has put forth concrete proposals to expedite this process for foreigners coming to work in the country. President Santokhi emphasized the importance of facilitating business operations in Suriname, as reported by the Suriname Communication Service.

Discussions with the Surinamese Bankers’ Association revolved around simplifying banking processes for foreigners who are accustomed to using credit cards. Additionally, talks were held with various airlines regarding flights to Suriname. Currently, there are no direct flights from the United States of America, where many of the experts come from.

The transportation and storage of explosive substances, necessary for the oil and gas industry, were also discussed during the meetings. This includes the procedures to be followed in case of an oil spill in the sea and the involvement of countries directly affected by such incidents. The Presidential Task Force on Inventory and Advice for Explosive and/or Hazardous Substances will present solutions on these matters in the future.

Source: https://www.starnieuws.com/index.php/welcome/index/nieuwsitem/76843

Date: 30 juli 2023

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