PARAMARIBO – July 21 – Extra-parliamentary Surinamese political organization De Nieuwe Leeuw (DNL) has delivered two key draft pieces of legislation to Minister of Finance and Planning Adelien Wijnerman, aiming to establish a robust regulatory framework for the country’s anticipated growth in the oil, gas and mining sectors. The draft bills focus on local content requirements and transfer pricing regulation, respectively, and were formally presented on Tuesday by DNL chair Dharmvir Mungra and deputy chair Yerry Khoesial.
DNL officials note the legislative proposals were developed with input from both in-house specialists and independent external experts, designed to advance long-term, sustainable economic expansion across Suriname’s burgeoning extractive industries. According to the party, Wijnerman received the drafts positively, confirming that the proposals align directly with investment and offshore development talks she will hold this week alongside Suriname President Jennifer Simons in the United Kingdom.
The proposed Local Content Law is structured to ensure that foreign investment in Suriname’s extractive sectors delivers broader shared benefits to domestic businesses, local workers, and national knowledge institutions. Core provisions of the bill prioritize skills training and knowledge transfer, formal collaboration between foreign operators and local educational and research bodies, and the creation of an independent oversight council to monitor compliance with the law’s requirements. DNL emphasizes that the draft has been crafted to align fully with international trade regulations and existing contractual obligations held by the Surinamese government.
The second draft legislation, focused on transfer pricing regulation, is intended to close tax loopholes that allow multinational companies to shift profits earned in Suriname to low-tax jurisdictions with more favorable tax regimes. The draft aligns with international standards set by the Organisation for Economic Co-operation and Development (OECD), and includes clear rules for setting arm’s-length transfer prices between affiliated entities, mandatory documentation requirements for corporate taxpayers, and the establishment of an advisory body to support the Suriname Tax Administration in resolving complex cross-border tax issues.
DNL points out that these two new drafts, paired with an investment law draft the party submitted previously, form a cohesive, interconnected regulatory framework for the sector. Together, the package is designed to expand local participation in large-scale extractive investment projects while ensuring fair and complete tax contribution from operating companies. The party states its goal with the legislative proposals is to help build a transparent, sustainable investment climate that allows Suriname to capture the maximum possible economic benefit from projected growth in its oil, gas and mining industries. The full draft texts are available for public download via DNL’s official publication portal.