Suriname is rich in gold, bauxite and oil, which are the country’s key interests to foreign investors. More recently, palm oil has started to appear on their radar.
Traditionally, the US, Belgium and the Netherlands have been the country’s main international partners, but the government is now keen to shape deals with other foreign parties.
Suriname open to FDI
Apart from the oil sector, on which Suriname’s state oil company has a monopoly, the country does not discriminate against foreign investors and the government is committed to increasing FDI into the country.
In 2018, it held its first ever Trade & Investment Forum. However, the country’s poor business environment makes it a less attractive FDI destination when compared with other countries in South America and the Caribbean, despite its natural resources.
However, 2019 was a mildly promising year for Suriname in terms of greenfield project announcements. Apache and Total teamed up to develop a project around newly discovered oil reserves offshore. Suriname also announced a strategic partnership with China focusing on sectors including infrastructure, agriculture, forestry, fisheries, communications and energy, the digital economy, tourism and the ocean economy.
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