Advertentie

Advertentie

VSB Urges for Cross-Sector Development

Promoting new collaborations for economic, social, and private sector growth

VSB Urges for Cross-Sector Development

The Surinamese Business Association (VSB) advocates for a more integrated approach to Suriname’s macroeconomic, social, and especially private sector development. This approach should be directed from the tripartite consultative body, involving all social partners, the government, the business community, and the labor movement.

“While we, as a private organization, cannot be dissatisfied with our own achievements in 2023, there are challenges related to the country’s development. One of these challenges is to create more awareness among our businesses about the importance of compliance rules, governance, steadfastness, and transparent financial management,” says VSB President Rekha Bissumbhar in an interview with De Ware Tijd.

“Quality, quantity, and continuity in both policymaking and business are important indicators.”

Security

The overarching business organization elected a new board on November 22, 2022, under Bissumbhar’s leadership. In her retrospective on the almost completed year with an outlook on 2024, a clear line and vision can be discerned regarding both the private sector and how national development can be achieved. The optimism generated from the New Year’s plan to improve the sector’s climate was somewhat dampened early in the year by social unrest that escalated into riots on February 17. “This escalation has heavily impacted businesses. We realized that to create the desired climate, security is an important development indicator,” acknowledges the president.

Discussions with the government led to the formation of a committee addressing not only security but also other aspects such as the macroeconomy. A committee had already been formed in 2022 to discuss and address security issues.

Bissumbhar emphasizes the need to integrate these two committees to collectively address the issue of security. Excesses, such as the recent attack and robberies of businesses in the Atjoni docking area, should not be underestimated, according to the VSB president. Her critical note is that this issue has not yet been successful because there are too many isolated efforts.

Tripartite Approach

Regarding the tripartite approach, Bissumbhar observes a similar situation. The business organization believes that President Chandrikapersad Santokhi and his government should apply a proportionate integrated approach when listening to and making agreements with social partners to prevent undermining the tripartite dialogue, which is detrimental to society. The president has committed to personally chairing the tripartite dialogue in the first six months of 2024 to provide personal direction.

To contribute to its own and national objectives, the VSB, in collaboration with the Central Bank of Suriname and the Surinamese Bankers Association, established the Suriname Economic Oversight Board in 2023. This board monitors the macroeconomic climate with data, independently, and provides advice.

Awareness

Given the current and future developments, where the oil and gas industry will play a significant role, the VSB has undertaken various preparatory and awareness activities for its members. Local content, including access to capital and how to obtain it, were focus points.

Sessions were held with local banks and national and international bilateral organizations, such as the IDB, focusing on the possibilities both nationally and internationally. Additionally, a special session was conducted for companies on capacity building, where to obtain capital, what requirements they must meet, and awareness of their own performance in terms of regulations, compliance, financial stability, and transparency, including the preparation of annual reports.

In its networking events and sessions, the VSB also addresses other social and societal issues such as decent work, exchange rate development, and the issue of poverty. “For the VSB, it is desirable that in 2024, both businesses and the government commit more to integrated decision-making. Quality, quantity, and continuity in both policymaking and business are important indicators,” concludes Bissumbhar.

Source: https://dwtonline.com/vsb-pleit-voor-geintegreerde-ontwikkeling-vanuit-tripartiet-overleg/

Date: 7 January 2024

Categories:  Ease of Doing Business, Economic Boom, Economic Crisis, Economic News, Government, Legislation, Suriname 

Tags:  Local Content Development, President Chandrikapersad Santokhi, Private Sector, Rekha Bissumbhar, Vereniging Surinaams Bedrijfsleven (VSB) 

Advertentie

Wilt u uw merk hier tonen?

Maak contact en ontdek de advertentiemogelijkheden!

Wilt u uw merk hier tonen?

Maak contact en ontdek de advertentiemogelijkheden!

– DISCLAIMER –

LocalContentSuriname.com is een portaal waar ondernemers, bedrijven en stichtingen zich willen presenteren. Deze website is niet verantwoordelijk voor de inhoud die op deze pagina getoond wordt. Alle informatie die op deze pagina wordt verstrekt, moet onafhankelijk worden geverifieerd. Er worden geen garanties of verklaringen gegeven voor de juistheid van de informatie. Ga naar veelgestelde vragen voor meer informatie.