Busines climate in Suriname

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8 Νοε 2013 (πριν από 3 χρόνια και 9 μήνες)

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PRESENTATION






Paramaribo, November 2011


Doing Business in Suriname

Suriname Trade & Industry Association

Address: Prins Hendrikstraat #18

Paramaribo
-

Suriname

Tel: 597
-
475286/ 597475287

Fax: 597
-
472287

Email:
vsbstia@sr.net

Website:
www.vsbstia.org




CABINET OF THE REPUBLIC OF SURINAME

2010
-
2015

THE EXECUTIVE

PRESIDENT: Mr. D.D. Bouterse

ALSO CHAIRMAN COUNCIL OF STATE; 15 members

VICE
-
PRESIDENT: Mr. R. Ameerali,

Chairman of the Council of Ministers

SOCIAL ECONOMIC COUNCIL:
14 members

(4 private sector, 4 union, 5 government)

(in active at the moment)

COUNCIL OF MINISTERS: 17

1.
Agriculture, Animal Husbandry and Fisheries, Mr. H. Setrowidjojo (previous
Government

2.
Defense, Mr. L. Latour

3.
Education and Community Development, Mr. R. Sapoen

4.
Finances and Planning, Mrs. A. Wijnerman

5.
Foreign Affairs, Mr. W. Lackin

6.
Health, Mr. C. Waterberg (previous Government)

7.
Home Affairs, Mr. S. Moestadja

8.
Justice and Police, Mr. M. Misiedjan

9.
Labor, Technological Development and Environment, Mr. G. Kromosoeto

10.
Natural Resources, Mr. J. Hok

11.
Physical Planning, Land
-

and Forestry Management, Mr. S. Martosatiman

12.
Public Works, Mr. R. Abrahams

13.
Regional Development, Mr. L. Diko

14.
Social Affairs and Housing, Mrs. A. Amafo

15.
Sport and Youth Affairs, Mr. P. Abena

16.
Trade & Industries, Mr. M. Miskin

17.
Transport, Communication and Tourism, Mr. F. Pinas



The Legislative

The National Assembly:
51 members

Coalition: 36 seats (MEGA Combination (23), A
-

Combinatie (7), Volksalliantie (6)

Oppostion: 15 seats {New Front: NPS (4), VHP (8), DA
‘91 (1), SPA (1)}, DOE, 1.


The Judiciary

Court of Justice

Record Office of District
-
Court

Public Prosecutor’s Department of Procurer
-
General

Republic Suriname


Capital: Paramaribo


Area: 163,820 km
2


Suriname is part of the Wild Coast, the
Guyana’s


Situated on the north coast of the South
American continent, bordering


The Atlantic Ocean on the north,


Guyana on the west,


French
-
Guiana (EU) on the east,


Brazil on the south.


The climate is tropical, warm and humid,
moderated by trade winds


Basic Facts



Languages


Dutch (official), English, Sranang Tongo (native
language), Chinese (various dialects), Hindustani,
Javanese.


Population of 500,000


Literacy


Male: 95%


Female: 91%


Export partners


Canada, US, Norway, Netherlands, France, Japan, UK


Import partners


US, Netherlands, Trinidad & Tobago,

Japan, China, UK, Brazil


Currency: Surinamese Dollar (SRD)






Macro economy

(Source: Ministry of Finance; General Bureau of Statistics; Central Bank of Suriname)



Gross Domestic Product (GDP)

(US$ 3.800 mln) (2010)

Income per capita

US$ 5100, est. (2010)

Inflation


18.0
%

est. (2011)

Unemployment rate


12
%

(2011)

Lending rate

11
%

(2011)

Exchange rate

3.25 (US$) (2011)

Exports of goods

1.769 mln. US$, est. (2011)

Import of goods

1.653 mln US$, est. (2011)

GDP real growth

4.5
%

(2010)

Credit rating

Trade Balance in USD

Monetary reserve

B+ (2010)

402 mln US$ (2010)

757 mln US$ (2010)

Conducive Investment Climate


The investment climate for investors is favorable



Environment


Large areas for industries


Clean air & healthy environment


Independent judiciary system



Infrastructure


Adequate network of roads


Reasonable shipping & airline connections


Telecom services


Utilities (Water, Electricity and Telecom)


Modernization Seaport & international airport

Investment Climate
(continued)



Human Resources


Highly educated workforce


Disciplined workforce


Multi lingual and cultural society


Education & training





Other Assets


Abundance of fresh water and fertile land


Fast developing private sector


Untapped hydro electric power



Companies en Tax Rates


Corporate income tax: 36% (effective
rate: 20%)


Personal income tax : 8
-
35%


Value added tax: 8
-
10%


International Relations


Member of CARICOM


Member of OAS (Organization of American
States)


Member of IDB (Inter American Development
Bank) & ISDB (Islamic Development Bank)


Member of ACP (African, Caribbean & Pacific)
countries and partners of the European Union
in the EPA agreement


Various Bilateral agreements (China; India;
Brazil, Indonesia)




Structure Private Sector of Suriname


The social & economic partners


Employers (Suriname Trade & Industry Association)


Unions (Ravaksur)


The Government


Suriname Trade & Industry Association represents:


A. Multinationals


B. Large unionized companies


C. Parastate companies


D. The Domestic Private Sector


Small & medium sized enterprises


E. The Civil Society


Micro enterprises

Business Forum/ Suriname
Business Centre


Public Private Partnership


National strategy for development of the domestic
private sector


Priority actions developed at macro / meso / micro
level


Suriname Business Centre :One
-

stop


window


Training, seminar, courses


EU /IDB/ IsDB/OAS/financial instruments for private
sector development


Organizing sector trade fairs and matchmaking activities


Advising the government on issues regarding the
Business climate for the domestic private sector



Suriname Trade & Industry Association


Established in March 1950



235 members (
Banking;Industry;Timber;Agriculture;
Mining;Tourism;Transport;Insurance;Commercial services; Trade)



Member of the International Organization Employers
(IOE), International Labor Organization (ILO),
Caribbean Employers Confederation (CEC)



Five(5) policy clusters:


Government;


Industrial Relations;


Services to the member companies;


Regional & International Economic Integration;


Internal policy of the Organization.







SERVICES TO MEMBERS


-
To promote members’ interests in national bodies as State &
Economic Council, IFONS, Labor Advisory Council and
Suriname Business Forum

-
To issue newsletters and ”De Werkgever”

-
To issue certificates of merit

-
To issue medals of long employment

-
To make use of the PR
-
office of the STIA
-
secretariat

-
To receive information and advice on request

-
Advise on industrial relations matters

Important Sectors

Mining: Alumina


The mining sector remains our country’s
principal currency earner


One large multinational company is dominating
the market: Suriname Aluminum Company
(Suralco), a subsidiary of Alcoa
-
USA


Last ten 10 years: average export of 1,5 million
ton Alumina to USA
(20%),

Norway
(60%),

France &
The Netherlands
(15%)


1.5 million metric tons of alumina produced in
2010


Bauxite reserve, Nassau & Bakhuys presently
untapped.(500 mln. tons)


Gold Sector


Iamgold is one of the major players in the
gold mining industry in Suriname


Production 2010: approx 12.000 kgs of gold


Large
-
scale gold mining operations in the
Rosebel mine


Gold is the first largest export product of
Suriname


Joint venture Suriname Aluminum Company
with the U.S.
owned Newmont Mining
Corporation (Surgold) start
-
up 2014.


Small gold

mining by local/garimpeiros,
estimated production 15.000 kgs (2010)





Oil Industry


State Oil Company started its activities in 1980


The oil industry is the third largest mining
industry in our economy


A production of 16,000 barrels a day, 2010


Onshore drilling will continue 2010
-
2012


State Oil company has agreements with Repsol
YPF; Occidental Oil; Maersk Oil


Products: crude oil; diesel; asphalt bitumen


Electricity is a new product of State Oil
Company (28 MW)


Offshore drilling by January 2010 and up


Extension of refinery as of 2011 (USD 1 B.)


Agriculture Sector


Banana (export value USD 50 m, 2010)


Rice (export value USD 37 m, 2010)


Fisheries (estimated export value USD 50 m, 2010)


Shrimp catch from Coastal area


Shrimp from Aqua culture


Sea fisheries & river fisheries


Forestry (94 % tropical jungle)


Timber production (250.000 m
3
, 2010)


Tourism activities (estimated 210.000 p., 2010)


Horticulture, Vegetables and Fruit (estimated export
2010, USD 20 m)




Tourism Industry




Eco tourism



Central Suriname Nature Reserve &
Coastal area


Paramaribo on the world heritage list


Cuisine / various dishes


Different Cultures


Various tourist products:


Nature tours


Business tours


Historical tours


Culture tours


Adventure tours



Key growth sectors


Mining


Kaolin; Granite;


Water


Manufacturing


Food processing


Pharmacy; aromatic products


Bio
-

energy


Agriculture & Agro industry


Fruits ; horticulture; flowers; herbal industry


Aqua

culture ; fish processing


Lumber & Furniture Industry


Furniture; building materials


Tourism


Eco tours; culture tours; business tours; entertainment
parks


Services Sector


Financial services; construction services; engineering
consultancy; management consultancy; transport


ICT out sourcing; call centers


Health sector; medical facilities & health care






THANK YOU