WILLEMSTAD - The government of Curaçao envisions four core sectors for the economic development of the island. This was stated by Prime Minister Gilmar Pisas yesterday during his speech at the Curaçao Business Association (VBC). According to the Prime Minister, the economy should diversify in the coming ten years.
He identified four sectors to strengthen the economy. Firstly, there is the development of all areas around the port for economic purposes. According to the Prime Minister, these areas offer enormous potential for growth and new investments. Additionally, there is a strong focus on the energy sector, particularly sustainable energy production. This sector should not only support local consumption but also offer export opportunities. Furthermore, Pisas wants to stimulate the export of various types of services and a limited number of products, especially those with promising prospects in the international market. Finally, he emphasized the need to further expand the island's tourism product.
Pisas underscored the plans for the port, with the government-owned company Refineria di Korsou (RdK) playing a key role. He mentioned that RdK, as an international company, has developed an excellent master plan to transform the port area and offers many opportunities for major investments together with international partners.
This plan is complemented by the development of an LNG terminal and research into hydrogen production from wind energy. According to Pisas, the Netherlands has already made funds available for this research, offering significant export opportunities to Europe and America. Interestingly, Pisas did not mention refining and the oil industry as a possible fifth sector in his plans.
Conditions
In addition to naming new economic sectors, Pisas outlined several conditions necessary to support these sectors. He emphasized the importance of an effective and efficient governance structure. The quality of service to the community must also be high, with a strong focus on the digitalization of both public and private services. Furthermore, there must be a fast and efficient process for permit issuance, and the infrastructure must be adequate and affordable, including the capacity and accessibility of broadband internet.
Pisas also stressed the importance of an efficient tax administration system and modern infrastructure for agriculture, fisheries, and livestock farming. Finally, combating crime and corruption is essential to ensure the integrity of the business community, and there must be effective facilities to promote investment and economic growth, as well as mechanisms to manage various types of crises.