分类： business

The Association of Surinamese Manufacturers (ASFA) has expressed deep concerns over the government’s approach to implementing its local content policy in preparation for the upcoming oil and gas production. Wilgo Bilkerdijk, ASFA’s director and former chairman, warns that Suriname risks repeating the economic mistakes of countries like Ghana and Nigeria, where oil revenues generated billions but failed to contribute meaningfully to sustainable development. Bilkerdijk emphasizes that local content initiatives must not be tackled in isolation. ‘We lack a clear economic compass as a nation,’ he states. ‘Without a cohesive national vision and identified growth sectors, we’re merely mopping up with the tap still running.’

ASFA criticizes the fragmented execution of local content strategies, noting that while organizations like the Suriname Energy Chamber show commitment, the government lags in developing an overarching strategy. ‘The government seems reactive to oil and gas developments rather than proactively crafting policies that strengthen the entire economy,’ Bilkerdijk remarks. He underscores that local content should be part of a broader national transformation, addressing education, labor markets, investment laws, certification, and institutional strengthening simultaneously. ‘Without massive upscaling of vocational education and certification of workers and businesses, Suriname won’t be able to capitalize on the oil industry’s opportunities. Foreign labor will fill the gaps, marking the start of the resource curse.’

ASFA highlights that large-scale oil production is expected to begin within two years, yet the labor market remains unprepared. Studies reveal that Suriname’s workforce lacks the necessary skills to meet the oil sector’s demands. ‘If we don’t act swiftly, we’ll follow the path of Ghana and Nigeria, where multinationals reaped the benefits while local economies weakened and populations grew poorer,’ Bilkerdijk cautions. He also warns of the ‘Dutch disease,’ where the lucrative oil industry drains skilled workers from other sectors, undermining agriculture, industry, transport, and ICT—the foundations of sustainable growth.

ASFA urges the government to establish an inter-ministerial council involving the Ministries of Oil and Gas, Economic Affairs, Foreign Affairs, and Natural Resources. This council, Bilkerdijk suggests, should pave the way for a centrally coordinated national local content institute. ‘We need coherence between policy, legislation, and execution,’ he insists. ‘Local content must be part of a broader transformation strategy, supported by new investment laws, fiscal incentives, and certification. Otherwise, Suriname will be left with empty promises.’

Bilkerdijk calls for government-funded development financing to certify workers and businesses, enabling them to meet international oil and gas sector standards. ‘Oil presents a unique opportunity to scale our economy, but only if we invest in the people and businesses driving this transformation,’ he asserts. ASFA stresses that the time for action is now, reminding Suriname of its long-standing but unfulfilled rhetoric on economic diversification. ‘Every government talks about diversification, but no one makes decisions,’ Bilkerdijk concludes. ‘We must define our growth sectors and build policies around them. Otherwise, we’ll lose another historic chance. Without a national vision, profits will flow to multinationals, leaving the population in poverty. We must prevent this at all costs.’

The National Development Bank (NOB) and the Association of Surinamese Businesses (VSB) recently hosted a joint information session to educate entrepreneurs about financing and guarantee facilities. The session targeted VSB members seeking credit solutions outside the traditional banking system. NOB offers investment loans of up to USD 100,000 and working capital loans of up to USD 50,000, featuring lower interest rates, extended repayment periods, and flexible grace periods. NOB emphasized its role as a development partner for entrepreneurs struggling to access commercial credit. In collaboration with the Inter-American Development Bank (IDB), loan limits can reach up to USD 500,000, though with shorter repayment terms (3–5 years for investment loans and 1–3 years for working capital). NOB has allocated a USD 10 million IDB facility for this purpose. Project feasibility is prioritized over full collateral coverage. In cases of shortfall, the Suriname Guarantee Fund, managed by NOB, can provide up to 80% guarantee on the loan amount. Entrepreneurs in rural areas without hard collateral may also qualify if they submit an official approval letter from local authorities. A minimum 10% equity contribution is mandatory, which can include liquid assets, previously acquired equipment, or demonstrable business investments. Projects focused on trade (buying/selling), land sales, subdivision, and primary logging are excluded from financing. VSB views this collaboration as crucial for strengthening local entrepreneurship and making development financing accessible to a broader range of businesses.