Invest in Suriname: Why to invest?
INVEST IN SURINAME: WHY TO INVEST?
A bridge
between continents
Suriname is perfectly located in the northeast of the South American continent, sharing a border with Brazil, Guyana and French Guiana (EU), halfway between the Equator and the Caribbean.
The country acts as a bridge between the continents that surround the Atlantic Ocean, a perfect spot for linking America, Europe, and Africa, as well as the Caribbean Islands.
INVEST IN SURINAME: WHY TO INVEST?
Access to other markets
Being aware of the importance that international trade has nowadays, Suriname has promoted both the signing of international trade agreements and its participation in regional integration processes.
Currently, the country is party to several multilateral and bilateral trade agreements and is member of:
• Caribbean Community (CARICOM)
• Forum of the Caribbean Group of African, Caribbean and Pacific States (CARIFORUM)
• Associate country in MERCOSUR.
INVEST IN SURINAME: WHY TO INVEST?
Labor force:
young, multilingual and competitively priced
Labor force:
The country has a labor force of approximately 208.000 persons .
Young population:
The average age is 29. In fact, almost 40% of the Surinamese population
belongs to the group considered as young labor force (15-39 years old)
Language:
o As one of the official languages, Dutch is mastered by all the
Surinamese population.
o English is widely spoken
o Many people speak Spanish and Portuguese too
Supported skills development:
Suriname relies on a public university and about ten private universities,
institutes and academies providing education related to a wide variety of
sectors.
Cost-competitiveness:
The minimum wage is 0,39 USD/hour, which is far lower than rest of the
countries in the region .
Source: Global Wage Report 2020-21 (ILO)
* Estimation of the hourly cost done taking into account the daily, weekly, or monthly cost.
INVEST IN SURINAME: WHY TO INVEST?
An attractive business and living environment
Operation costs
Low electricity price:
0,054 USD/kWh
Low average rental rate: An office space rental rate per square meter/month is about US$11,2 (US$1,04 per ft2).
Dealing with construction permits: The Doing Business Report of 2020 gives Suriname a score of 66,3, 3,1 points over the Latin America and Caribbean average.
Tax environment: The Doing Business Report of 2020 gives Suriname a score of 69,4 in terms of paying taxes, 8,9 points over the Latin America and Caribbean average.
Incentives: Suriname offers several incentives for foreign investors that can be consulted
Society
Diversity:
Suriname relies on a peaceful multi-cultural society formed by Amerindians, East-Indians, Javanese, Maroons, Creole, Chinese and Europeans, among others. Therefore, its workforce is used to dealing with people that have different cultural characteristics.
Safety:
With 4,9/10 points, Suriname has been ranked in Global Organized Crime Index of 2021 as the 98th country in the world less influenced by criminality, receiving a better score than the American continent as a whole (5,06/10).
Cuisine:
Suriname’s cultural diversity is also present in the great variety of international cuisine, especially in the capital, where it is possible to find traditional dishes from all over the world: from spicy curried Hindustani cuisine to complex Javanese food and authentic Creole dishes.
Geographical Charateristics
Weather:
Suriname has a tropical weather with an average temperature of 27ºC/80,6 ºF and sun is rarely absent . Therefore, it’s a very comfortable place to live and work.
Lack of natural disasters:
Suriname is placed outside the Hurricane Alley and is not prone to natural disasters or epidemics.
Time zone (GMT-3):
Real-time services with the United States and Canada.
Low density:
With a density of 3,76 people/km2 , Suriname offers a great land availability.
Good air connectivity:
The country possesses two international airports with direct connections to regional transport hubs such as Amsterdam, Belem or Miami.
Expanding sea connectivity:
The Government is promoting projects to foster Suriname’s role as a regional and international maritime hub. In fact, there are 17 facilities in Suriname certified as fulfilling the International Maritime Organization requirements of the International Ship and Port Facility Security Code.
Opportunities
