Published On: Fri, Aug 30th, 2013

Parliament supports modernization refinery

oil refineryWILLEMSTAD – Practically everyone is convinced that Curacao has great need for productive investment to the situation of economic contraction which the island is currently facing, to bend in the direction of sustainable economic development and growth.

This lays the foundation for maintaining and increasing the wealth and improve welfare.

Investments will not fall from the sky. We will have to work hard for it. This is the main reason why the VBC and the leaders of the coalition parties have recently signed a covenant. To work together to get investment projects actually off the ground. It should be clear that this approach will only succeed if there is broad "commitment", cooperation and action. Everyone will have his or her part to contribute to make the investment climate attractive. It is therefore intended that after signing the agreement, other important "stakeholders" such as trade unions, institutional investors and banks will join the campaign and contribute actively to get investments off the ground.

It was particularly hopeful that Parliament have unanimously decided to assist the Government in its efforts to modernize the refinery and retain it for Curaçao. in The unanimity of Parliament to jointly look for one or more investors for the refinery gives hope and exudes an approach of national importance. A breath of fresh air and without an improvement compared to the era where personal and / or party interests prevailed. Hopefully this is the start of a new era.

The option to try to maintain the oil refining activities for the Curaçao economy is justified because this activity has served as a catalyst for decades in the process of creating and increasing prosperity in Curaçao. Anno August 2013 this sector still plays a major role in the Curaçao economy. Not only in terms of employment and income as a foreign exchange generating activity, this sector can hardly be missed. In 2012, oil refining generated nearly ANG 600 million to the foreign exchange pot. This is more than 10% of GDP. What alternative economic activity is capable of that kind of money and employment generation In a short period?

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