SURINAME-President Geerlings-Simons wants development to be beyond the oil and gas sector.

PARAMARIBO, Suriname, CMC – President Jennifer Geerlings-Simons says Suriname must ensure that the expected growth of the oil and gas sector does not lead to an economy that depends primarily on extracting natural resources.

“Extraction alone is not success. Success means productive industries, stronger local enterprises, skilled people, and benefits that reach communities throughout the country,” she told the fourth International Business Conference (IBC) that ends here on Thursday.

President Geerlings-Simons told delegates that the energy sector is truly successful only when it leads to strong local businesses, new industries, skilled labor, and tangible improvements in people’s lives.

She told the conference, held under the theme “From Energy to Industry, Investing in the Suriname Guyana Value Chain,” that investors should look beyond the energy sector and contribute to a sustainable, diversified economy.

According to the Head of State, cooperation between Suriname, Guyana, and other regional partners must lead to new economic activities and stronger regional value chains.

She said that her administration views economic diversification not as a choice, but as a strategic necessity, pointing to opportunities within agriculture, agro-industry, sustainable tourism, logistics, and technology.

President Geerlings-Simons said that the energy sector must serve as a catalyst for the development of other industries and that economic growth must ultimately contribute to a society in which dignity, well-being, and equal opportunities are central.

During her address, President Geerlings-Simons also addressed cooperation with Guyana, Brazil, and French Guiana, noting that Paramaribo will soon chair the 15-member regional integration grouping, CARICOM.

“Suriname is not just a destination for individual projects. We are a partner in building sustainable and competitive regional enterprises,” she said, adding that international cooperation must not be limited to individual investment projects, but must contribute to sustainable enterprises that are interconnected within the region.

She said the government is working to improve the business climate to offer investors greater certainty. According to President Geerling-Simons, work is underway on several pieces of legislation, including the Investment Act and the CETA Act, that should be completed next year.

She said that combating corruption is also an important issue, noting that integrity and a well-functioning rule of law are necessary conditions for sustainable investments.

“Corruption undermines trust, distorts competition, and discourages responsible investments,” she added.

She said Surinamese companies must benefit from the improved economic environment and that an important part of government policy is strengthening local content.

She said the Local Content Board aims to ensure that Surinamese enterprises and workers have more opportunities to participate in major investment projects.

Geerlings-Simons urged international investors to involve Surinamese suppliers in their activities actively and to transfer knowledge and technology.

She said that the workforce should not be trained exclusively for jobs in the energy sector, but also for other economic sectors, reiterating that economic development must not come at the expense of the environment and the living conditions of communities in the interior.

She said protecting forests, rivers, and biodiversity must be an integral part of development policy. Indigenous and tribal communities must be involved as full partners in this process.

The Head of State said the conference should not end with speeches and declarations of intent, and that the discussions must result in concrete investment proposals, business agreements, and sustainable partnerships.