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Integrating Suriname into Mercosur
Opportunities and Integration
3rd Mercosur Business Forum 2013Belem, Brazil
Imro San A Jong 02 October 2013
Who isInvestment and Development Corporation Suriname
N.V. (IDCS)
Established 18 April 2012 State-owned Enterprise Limited Liability Company Objective: Sustainable Development,
Economic Diversification through Investment Promotion
Tasks:
Opportunities and Integration Suriname - Mercosur
Use Assets Effectively Assist in Finance Acquisition
Joint-Venture Advisory role
Facilitator Information, Guidance
Close Cooperation Private Sector
Traditional Resources
Mining: Bauxite, Gold, Oil Contribution to Economy
90% Exports 80% Net Foreign Exchange Earnings 40% National Income 40% Government Revenues 3% Employment
Opportunities and Integration Suriname - Mercosur
Development Policy
Develop Mining but also Develop Sustainable Production Sectors (SPS)
Approach: Mining Growing, but SPS growing Faster
Strategy: Reallocate Resources from Mining to SPS Increase Investment New Technologies
Opportunities and Integration Suriname - Mercosur
Current Developments Mining
Oil: Off-shore Oil Drilling Tullow Oil, Kosmos,
Teikoku, etc) Expansion of Refinery (Gasoline, Diesel sept
2014) Sugarcane Ethanol (Embrapa) Thermal Energy Production Capacity 62MW
Gold: 2 Agreements IamGold and Surgold
(Alcoa/NewMont)Bauxite: Production Increase 10%, 2014
Opportunities and Integration Suriname - Mercosur
Current Projects Sustainable Production Sectors IDCS
Phedra: 2300 ha Acai, pineapple (French Investor, Dec 2013) Exotic Fruit and Vegetables (French Investors and
Local Entrepreneurs, Q1 2014) Babunhol: 1000 ha
Cattle, sheep, pigs (slaughter and breeding) Cattle from Brazil, August 2012
Privatization of Rice Sowing Seed Company Masterplan Agriculture
Map all Agro Land, cultivate crops suitable to soil qualities (2014)
Opportunities and Integration Suriname - Mercosur
Current Projects Sustainable Production Sectors IDCS
Forestry: 150.000 ha Timber Concessions Value Added Downstream Timber Products Brazil, China, Finland, French Guyana,
India, Malaysia, Trinidad & Tobago Non-Resource Based Industries
Coffee, Cacao, Fiberglass
Opportunities and Integration Suriname - Mercosur
Current Projects Sustainable Production Sectors IDCS
Energy Demand and Projection Capacity 175 MW in 2012 Average growth 8%-10%/yr,
capacity 300-340 MW in 2020 Hydro project 500 MW (800 MW), South-
West Suriname close to border Guyana and Brazil
Camargo (MoU), Electrobraz (MoU), still to meet ANEEL, China
Other sources: Solar, Biomass, Household Waste, Thermal
Opportunities and Integration Suriname - Mercosur
Current Projects Sustainable Production Sectors IDCS
Advisory Services Paranam Industrial and Commercial Park (PICP) Free Zone: Food Processing, Timber Processing,
Warehousing, Assembly Total area 109ha, but first phase 40ha, Masterplan Pilot Project First Phase 40ha (dec.
2013) Space, Road, Harbor, Electricity, Water, Waste
Disposal; US$20million Assistance: Legislation, Incentives, Investors,
Cooperation, Finance Orientation: Suframa
Opportunities and Integration Suriname - Mercosur
Why Suriname GDP per capita US$8,050 (2012) GDP growth 4% - 5% Preferential Market Access: CARICOM,
Cuba, Dominican Republic, EU (EPA) Abundance in Resources Exemption of Raw Material/Intermediates Well Educated Workforce Good Infrastructure and Ports Energy: US$0.05/KwH, Water: US$1.63/m3
Unskilled Labor: US$20-US$25/day Special Arrangements for Tax Holidays
Opportunities and Integration Suriname - Mercosur
Contact InformationInvestment and Development Corporation Suriname
N.V.
– Director: Mr. Winston Caldeira – Email: [email protected] [email protected]– Address: Brokopondolaan 97, Paramaribo,
Suriname– Phone: 597 494 374, 597 530 255, 597 431
375– Fax: 597 494 387– Website: http://www.idcs.sr/
Integrating Suriname into Mercosur
EndOpportunities and
Integration
3rd Mercosur Business Forum 2013Belem, Brazil
Imro San A Jong 02 October 2013