COLÓN, WILLEMSTAD – Minister of Economic Development Dr. Roderick Middelhof recently paid a working visit to the Colón Free Zone in Panama as Curaçao prepares new legislation aimed at modernizing its own free zone sector.
The visit took place in the context of a proposed new Free Zone law that is expected to be introduced soon. Middelhof was accompanied by Members of Parliament David Seferina and Sandy Losiabaar, who serve on the Curaçao Parliament’s Economic Affairs Committee. The parliamentarians were invited by the minister to participate in the working visit as part of ongoing efforts to examine international best practices in the management of economic zones designed to stimulate trade, investment and economic growth.
During their stay in Panama, the delegation also met with a Curaçao entrepreneur who has established and operates a business in the country. The meeting included discussions about the experience of doing business in an international market, the challenges entrepreneurs face and the advantages of operating within a free zone that benefits from strong logistics infrastructure.
According to the delegation, the combination of advanced logistics facilities, simplified administrative procedures and a competitive business environment plays a major role in the success of the Colón Free Zone, one of the largest free trade zones in the world.
The visit provided the Curaçao officials with broader insight into how special economic zones can function as a driver of national economic development. Panama’s experience demonstrates how a modern, transparent and well-structured framework can attract international investment, stimulate trade and create employment opportunities.
For Curaçao, these developments are considered particularly relevant. For many years, the island’s E-Zone sector has faced several challenges, including changes in international regulations, the loss of the Venezuelan market, bureaucratic procedures and relatively high operating costs.
Despite these difficulties, studies indicate that Curaçao still has realistic opportunities to revitalize the sector through modernization based on international best practices.
In this context, the Government of Curaçao is working together with the Temporary Work Organization (TWO), the Ministry of Economic Development (MEO) and the Ministry of Finance on a process to transform the existing E-Zone into modern Special Economic Zones (SEZs). The initiative forms part of the Landspakket reform program and aims to modernize, revitalize and strengthen the competitiveness of the zones.
During their visit, Minister Middelhof and the accompanying parliamentarians observed firsthand how a well-organized free zone can contribute significantly to a country’s economic development. The knowledge and experience gained during the trip are expected to help shape new legislation on Special Economic Zones tailored to Curaçao’s economic reality.
Minister Middelhof said the objective is clear: to strengthen Curaçao’s free zone sector, attract new investment, create quality jobs for the local population and build a more resilient, innovative and sustainable economy for the island’s future.