Carib Scope

分类： business

  • Economie moet versneld transformeren naar ‘Suriname 3.0’

    Economie moet versneld transformeren naar ‘Suriname 3.0’

    Suriname stands on the brink of a historic economic transformation as its offshore oil and gas sector accelerates development, according to Oil, Gas & Environment Minister Patrick Brunings. The government has announced plans for a comprehensive national conference in April 2026 that will bring together government entities, private sector representatives, academic institutions, and international partners to establish a detailed roadmap for ‘Suriname 3.0’ – the nation’s transition to a modern, diversified, and sustainable economy.

    Minister Brunings, who comes from an oil industry background himself, emphasized the urgency of preparation: “We must make a structural leap. The offshore developments are real, investments are coming, and we must be ready.” The future oil and gas revenues are specifically intended not to maintain the status quo but to fundamentally reshape Suriname’s economic structure.

    The proposed roadmap outlines a strategic shift away from the gold sector toward multiple new revenue streams supported by oil income. Key development areas include water and climate industries, eco-tourism, high-tech agriculture, critical minerals, green technology, modern fisheries, natural pharmaceuticals, and renewable energy as a second economic pillar. Suriname aims to maintain and even expand its status as a >90% carbon sink nation through investments in solar, wind, hydro, bioenergy, geothermal, green hydrogen, and small-scale nuclear power.

    A crucial component involves reforming the government apparatus, with plans to gradually reduce the size of the public sector. Part of the civil service workforce will be retrained for positions in the oil, gas, and green industries. “The government cannot keep growing. Future jobs will emerge primarily in the productive sector. We must prepare personnel for that,” Brunings stated.

    The transformation faces significant challenges, particularly regarding local content capacity. A masterclass organized by Staatsolie highlighted growing gaps between industry requirements and current market capabilities. International companies operating in Suriname need local goods and services, technically specialized personnel, and supporting sectors including legal, financial, hospitality, logistics, and medical services.

    Despite evident motivation and potential among Surinamese businesses, substantial deficiencies remain – including shortages of well-trained technical staff, insufficient HSE and quality standards, lack of certifications, and inadequate training facilities. The Kuldipsingh Port Facility demonstrates both the rapid pace of offshore development and Suriname’s potential competitiveness, as major international players now operate locally rather than diverting to Trinidad & Tobago or Guyana.

    However, government preparedness lags behind market developments, particularly in policy formulation, regulations, local content requirements, and data collection. Without accelerated action, local small and medium enterprises risk exclusion from emerging opportunities. The April 2026 conference will establish foundations for a national oil and gas development plan, green economy investment strategy, public administration reform, robust local content agreements, and a long-term roadmap for Suriname’s economic future.

  • New Parika-Supenaam ferry arrives in Guyana

    New Parika-Supenaam ferry arrives in Guyana

    Guyana’s transportation network has received a significant upgrade with the arrival of the ARIS IV, a modern roll-on/roll-off ferry that will soon commence operations on the crucial Parika-Supenaam route. The vessel, constructed in Greece in 2020, completed a transatlantic journey spanning 5,200 nautical miles before reaching Guyanese waters.

    President Irfaan Ali officially announced the ferry’s arrival through a social media statement on Thursday evening, December 4, 2025, highlighting the achievement as part of the government’s infrastructure modernization efforts. The acquisition represents a strategic investment in the country’s transportation capabilities, with the government purchasing the vessel for approximately $4.4 million USD (3.8 million Euros).

    Technical specifications from maritime database Shipax indicate the ARIS IV measures 58.8 meters in length with a 15.7-meter beam and substantial cargo capacity of 550 deadweight tonnes. The 827 gross tonnage vessel will be integrated into the existing fleet managed by the Transport and Harbours Department, joining other recently acquired ferries including the Chinese-built MV Kanawan and MV Sabanto, and India’s MV Ma Lisha.

    The addition of this European-made vessel to Guyana’s maritime infrastructure is expected to enhance connectivity and trade along the vital Parika-Supenaam corridor, potentially reducing transit times and improving reliability for both passenger and commercial transport services.

  • Cementpartnerschap Argos–Kersten bereikt 15-jarig jubileum

    Cementpartnerschap Argos–Kersten bereikt 15-jarig jubileum

    In a significant milestone for Suriname’s construction sector, Argos and Kersten Group today commemorate 15 years of strategic partnership that has fundamentally transformed the nation’s infrastructure landscape. This alliance represents a powerful fusion of international expertise and local legacy that has delivered exceptional value to Suriname’s development trajectory.

    The collaboration brings together Argos’s nine decades of pan-American construction expertise with Kersten Group’s remarkable 255-year heritage in Suriname. This unique synergy has enabled consistent delivery of premium cement solutions, comprehensive technical support, and reliable supply chain management even during global material shortages that have challenged construction industries worldwide.

    Melvin Ong A Kwie, Director of Massive and Industrial Business at Argos Suriname, emphasized the partnership’s significance: “Reaching this 15-year milestone fills us with immense pride. Our collaboration with Kersten has substantially enhanced our capacity to support Suriname’s growth while maintaining deep connections with the communities we serve.”

    Beyond their commercial operations, both companies have demonstrated profound commitment to social responsibility. The partnership has generated substantial local employment opportunities, supported numerous environmental initiatives, and funded community development projects that align with Suriname’s sustainable development goals.

    Imani Van Klaveren, CFO of Kersten Group, highlighted the partnership’s foundational principles: “These fifteen years demonstrate the immense value of a collaboration rooted in innovation, sustainability, and shared developmental vision. By combining Kersten’s local legacy with Argos’s technical expertise, we have significantly strengthened Suriname’s infrastructure sector and remain confident in our enduring positive impact.”

    Looking forward, both organizations have reaffirmed their commitment to continuing this transformative partnership. Their shared ambition remains unwavering: to continue building a stronger, more sustainable, and prosperous Suriname through innovative construction solutions and community-focused development initiatives.

  • Collado: AILA must speed up expansion to keep pace with Santiago and Punta Cana airports

    Collado: AILA must speed up expansion to keep pace with Santiago and Punta Cana airports

    Santo Domingo’s tourism authorities have declared the nation’s airport infrastructure fully equipped to handle current and future travel demands, with substantial capital investments actively transforming the country’s key aviation gateways. Tourism Minister David Collado provided a comprehensive update on the strategic modernization initiatives underway across the Dominican Republic’s primary international airports, emphasizing their critical role in strengthening global connectivity and elevating traveler experiences.

    Significant advancements are particularly evident at Santiago’s Cibao International Airport, where extensive renovation works are progressing rapidly. Meanwhile, Punta Cana International Airport—the Caribbean’s busiest terminal—has successfully concluded its latest enhancement phase and is already planning a third expansion to accommodate growing passenger volumes.

    Minister Collado specifically addressed the development timeline for Las Américas International Airport (AILA), urging accelerated progress on its US$250 million-plus transformation. Operated by Aerodom under the VINCI Airports consortium, AILA’s major redevelopment features a completely new passenger terminal designed to operate concurrently with existing facilities. The ambitious project remains on track for completion between late 2027 and 2028, though Collado emphasized the necessity for expedited implementation given the nation’s consistently robust passenger traffic.

    The coordinated infrastructure improvements reflect the Dominican government’s strategic focus on maintaining the country’s competitive edge in global tourism markets. These aviation enhancements directly support the nation’s broader economic objectives, ensuring that physical infrastructure evolves in lockstep with visitor growth and evolving industry standards.

  • Grenadian General Insurance celebrates 35 years with successful marathons and customer incentive campaigns

    Grenadian General Insurance celebrates 35 years with successful marathons and customer incentive campaigns

    Grenadian General Insurance Company Ltd is commemorating its 35th anniversary through a multifaceted celebration strategy combining athletic events and customer engagement initiatives. The insurance provider has successfully executed two marathon competitions in Grenada and Carriacou while launching an extensive customer rewards program extending through September 2026.

    The Grenadian General Insurance Half Marathon & 10K Race attracted approximately 500 participants demonstrating remarkable athletic prowess across both experienced and novice categories. The competition crowned Livron Thorne (1:25:07) and Annalisa Brown (1:44:32) as male and female half marathon champions respectively. The 10K race saw Mikael Moses (38:36) and Azaria Simon (52:02) claiming top honors in their divisions.

    A landmark event occurred on November 29th with the inaugural Grenadian General 10K Race in Hillsborough, Carriacou, featuring 55 competitors including representatives from Petite Martinique. The event received official endorsement from Hon. Tevin Andrews, Minister for Carriacou and Petite Martinique Affairs & Local Government, who praised the initiative’s community impact and enduring partnership. Category victories were distributed across multiple age groups with Kashon Williams achieving dual recognition as both Boys 11-12 champion and overall Male Winner.

    Complementing these athletic endeavors, the company introduced the ‘Renew, Update & Win Promotion’ offering policyholders monthly opportunities to win account credits. Customers renewing policies become eligible for $350 credits while those updating information qualify for $150 credits, reinforcing the company’s customer-centric service philosophy.

    General Manager Kevon La Barrie emphasized the company’s sustained commitment to sports development and youth empowerment throughout the tri-island state. The coordinated efforts involving the Carriacou & Petite Martinique Sports Council under Chairperson Ayanna Bartholomew ensured successful event execution.

    The anniversary celebration will continue through 2026 with additional community-focused initiatives, customer engagement opportunities, and public awareness campaigns designed to enhance safety measures and strengthen national pride across Grenada, Carriacou, and Petite Martinique.

  • Tourism in Belize Dips Slightly in October Amid U.S. Shutdown

    Tourism in Belize Dips Slightly in October Amid U.S. Shutdown

    Belize’s tourism sector witnessed a moderate contraction in visitor arrivals during October 2025, with official data revealing a 5.1% decrease compared to the same period last year. According to statistics released by the Belize Tourism Board (BTB), the country received approximately 25,600 overnight visitors—representing a reduction of roughly 1,368 tourists.

    The primary factor behind this downturn has been attributed to the temporary U.S. federal government shutdown in October, which created uncertainty and disrupted travel arrangements for potential visitors. Evan Tillett, Director of the BTB, addressed these findings during a late November press briefing, contextualizing the monthly results within broader annual trends.

    Tillett characterized 2025 as ‘highly volatile’ in terms of tourist inflow, noting that several months—including January, February, April, July, and August—achieved unprecedented arrival numbers, establishing new performance benchmarks. He emphasized that September and October traditionally represent a seasonal lull in Belize’s tourism calendar.

    Industry prospects appear favorable despite the October slump, particularly with the resolution of the U.S. government shutdown two weeks prior to Thanksgiving. This timing coincides with the commencement of Belize’s peak tourism season, positioning the industry for a robust year-end performance.

    To mitigate seasonal fluctuations, the BTB continues to deploy its green season marketing strategy, which encompasses the Belizean Travel Marketing Program. The board is also collaborating with private sector stakeholders to develop attractive promotional packages aimed at sustaining international visitor interest during traditionally slower periods.

  • Massy Gas Products offers to help crack down on unsafe cooking gas bottle gadgets

    Massy Gas Products offers to help crack down on unsafe cooking gas bottle gadgets

    In a significant move toward enhancing public safety, Massy Gas Products (Guyana) Limited has formally committed to collaborating with Guyanese authorities to eliminate hazardous cooking gas bottle gadgets from the market. The announcement was delivered by Chief Executive Officer Augustus Harris during his address at the Guyana Manufacturing and Services Association’s (GMSA) awards ceremony on Wednesday.

    Harris emphasized the company’s dedication to working alongside the Guyana National Bureau of Standards and policymakers to address regulatory gaps that permit substandard Liquid Petroleum Gas (LPG) products and other dangerous goods to enter consumer markets. ‘Massy stands ready to continue working collaboratively with regulatory bodies to help close these dangerous gaps,’ Harris stated before an audience that included Finance Minister Dr. Ashni Singh, Minister of Labour Keoma Griffith, and Public Works Minister Juan Edghill.

    The executive outlined how Massy Gas Products would contribute its technical resources, industry expertise, and regional experience to support national safety initiatives. This commitment comes against a troubling backdrop of multiple fatalities and injuries resulting from gas cylinder explosions in recent years.

    Harris further elaborated on safety as a core cultural value across all Massy operations, noting that even a single non-compliant component could compromise engineering excellence and endanger families, businesses, and entire communities. He also highlighted the economic impact of substandard goods, explaining that responsible manufacturers who invest significantly in meeting safety standards face unfair competition from inferior products.

    While stopping short of directly criticizing enforcement practices, Harris implicitly called for consistent application of product standard regulations across the board. His vision envisions a marketplace where safety is guaranteed rather than variable, and where ‘Made in Guyana’ and ‘Service in Guyana’ become synonymous with quality, integrity, and excellence.

  • Port Cargo Volume Up 9%, Gov’t Says, Signalling Strong Consumer Spending

    Port Cargo Volume Up 9%, Gov’t Says, Signalling Strong Consumer Spending

    Newly released government data indicates a significant upswing in national economic activity, with port cargo volumes climbing by a robust 9% year-on-year. This notable increase serves as a powerful barometer of the nation’s economic health, strongly suggesting that consumer spending remains vigorous despite broader global economic headwinds.

    The surge in imported goods, particularly consumer electronics, apparel, and household merchandise, points to sustained household confidence and disposable income levels. Analysts are interpreting this data as a clear indicator that domestic demand is providing a solid foundation for economic growth. The movement of goods through major national ports is often regarded as a leading economic indicator, reflecting real-time shifts in supply chains and end-consumer appetites.

    This positive trend is attributed to a combination of stable employment figures, rising wages, and easing inflationary pressures, which together have bolstered consumer purchasing power. The government report highlights that both retail and wholesale sectors are experiencing heightened activity, with logistics networks operating at near-capacity levels to meet demand. The data provides policymakers with encouraging signs that the economy is navigating potential challenges effectively, with strong internal drivers compensating for external uncertainties in the global trade landscape.

  • Finance Minister says budgets focussing on long term objectives

    Finance Minister says budgets focussing on long term objectives

    In a significant address to the Guyana Manufacturing and Services Association’s annual awards ceremony, Finance Minister Dr. Ashni Singh articulated the government’s steadfast commitment to prioritizing long-term economic objectives over short-term populist measures. The minister revealed that Guyana’s Natural Resources Fund now holds surplus capital exceeding the nation’s entire external debt, creating a rare fiscal position among global economies.

    Dr. Singh detailed a strategic reorientation of national budgets away from government consumption toward substantial investments in economic infrastructure. This shift has dramatically transformed the composition of public spending: while public investment constituted less than 25% of the total budget in 2019, it has now surpassed 50% as of 2024. The minister characterized this transformation as a series of ‘hard choices’ necessary to ensure long-term competitiveness and prosperity, even when such decisions lack immediate popular appeal.

    The address came amid mounting public anticipation regarding potential universal cash grants, following campaign hints from President Irfaan Ali and reassurances from Vice President Bharrat Jagdeo. Opposition parties have intensified calls for the administration to fulfill these apparent electoral promises.

    Dr. Singh firmly rejected any approach that would compromise long-term economic health for short-term gains, emphasizing the government’s balanced strategy of prudent debt management and fiscal sustainability. Despite declining oil prices—with 2025 crude projections at $68 per barrel, below the initial $71.9 forecast—the minister declined to specify whether expenditure cuts would feature in the 2026 budget.

    Highlighting Guyana’s remarkable economic turnaround, Dr. Singh noted the debt-to-GDP ratio has plummeted from over 600% in 1990 to 24.3% in 2024, positioning Guyana among the world’s least indebted nations. Official figures confirm the Natural Resources Fund holds approximately US$3.64 billion, surpassing the projected 2025 external debt of US$3.77 billion—a rare achievement that enables simultaneous accelerated public investment and substantial sovereign savings.

  • Over 54,000 People Employed in Antigua and Barbuda, Jobless Rate Falls Below 5%

    Over 54,000 People Employed in Antigua and Barbuda, Jobless Rate Falls Below 5%

    The twin-island nation of Antigua and Barbuda has reached an unprecedented employment milestone, with Prime Minister Gaston Browne announcing that workforce participation has hit its highest level in modern history. During Thursday’s parliamentary presentation of the 2026 national budget, Browne revealed that over 54,000 citizens are now gainfully employed, pushing the national unemployment rate below the 5 percent threshold—a figure the administration characterizes as reaching ‘full-employment levels.’

    This remarkable turnaround represents a dramatic improvement from a decade ago, when unemployment lingered in double digits. Prime Minister Browne attributed this economic transformation to his government’s aggressive investment-driven development model and strategic policy interventions. Multiple sectors have contributed to this employment surge, with construction activity reaching a record $900 million, tourism arrivals rebounding strongly, and service industries expanding steadily.

    The administration’s capital investment programs have played a crucial role in both immediate job creation and long-term economic development. Major infrastructure initiatives—including housing developments, water system upgrades, and road rehabilitation projects—have generated substantial employment opportunities while building foundational assets for future growth.

    These employment gains coincide with other positive economic indicators: a projected 5 percent growth rate for 2026, nearly $7 billion in expected national output, and a primary fiscal surplus of $254.9 million. Looking forward, the government plans to continue its workforce development initiatives through educational investments including tuition-free access to the University of the West Indies Five Islands Campus after scheduled upgrades, full payment of CSEC examination fees starting in 2026, and expanded skills training programs.

    Parliamentary debate on the 2026 budget, which outlines these economic achievements and future plans, will continue next week.