Dear Editor,
Today many Caribbean countries such as Suriname are looking to attract foreign direct investment (FDI) and have fully or partially integrated their ministry of foreign affairs and international trade and commerce. Seeking to attract investment, aid, technology and tourists, diplomats, the foreign ministry and embassies have advanced ‘economic diplomacy.’ Suriname’s embassies in many countries have great websites and they host trade fairs, exhibitions, cultural events and participate in chamber of commerce meetings. For economic diplomacy to succeed, diplomats must be versed in bilateral and multilateral economic issues in an effort to woo investors. In order to get the private sector involved, involving the chamber of commerce in trade missions on overseas visits is always part of a winning formula. Diplomats, the foreign ministry and embassies play crucial roles in transforming the image of their country. In the world of economic diplomacy, they market their country to investors by showcasing superior products and favourable conditions to potential investors. The embassies have to be proactive and aid investors in overcoming bottlenecks.
Guyana’s Dutch speaking neighbour to the east, Suriname, has seen an increase of 400% since 2006 in its tourism industry. Many new hotels have been built and more continue to be built in order to keep up with the increasing demand. In December 2007, the first five-star hotel, the Royal Torarica, a subsidiary of the Torarica, opened in downtown Paramaribo alongside the Suriname River. This hotel has approximately 300 rooms with a presidential suite on the top floor. Another boutique hotel, Spanhoek, adorns downtown Paramaribo. International chains Best Western and Marriot have opened hotels recently in Suriname, and another international chain, Wyndham, will open its doors to visitors this April. The Kersten Group, owners of Hotel Kransnapolsky, expanded into the tourism industry with the opening of Bergendal Eco and Cultural River Resort. These are all initiatives by local entrepreneurs and supported by local banks and some foreign participants.
Suriname Airways (SLM), with all its drawbacks and facing stiff competition from KLM, is surviving. Recently, it added three jets to its fleet. In November of 2009, an Airbus 340 was added to the fleet, and prior to that SLM got rid of its MD80 for two Boeings 737. Since 2008, SLM has indicated an interest in commencing a route from New York to Paramaribo via Guyana. In a recent interview, SLM CEO Henk D Jessurun said, “We would have direct routes to New York again, maybe combining with Guyana.” This imitative must be supported by the Government of Guyana, especially since Guyana does not have a national carrier.
Another major investment in the Surinamese tourism sector was approved in 2009 to develop Paramaribo’s waterfront. The project, Riverside Harbour Village, received approval from the Government of Suriname. It will include a marina, a new hotel as well as commercial space and a promenade. The investors are from Suriname, Curaçao and the Netherlands. The village will be ready by 2015. The project is worth €46M in investment. A lot is happening to the east of Guyana and Georgetown should take note.
Yours faithfully,
R Chickerie
