Published On: Mon, Nov 10th, 2014

Sustainable business development foundation

WillemstadCuraçao is seriously in need of a sustainable business development foundation to produce new strategies, plans and activities enhance the economy of the island.

It is a well-known fact that the economy of Curaçao is shrinking. Punda has turned into a ghost town. A good indicator that the economic cycle of Curaçao has gone into low gear. Furthermore the major pillar of the economy of the island, the oil refinery shrank from 40 percent of the GDP during the ‘Shell’ days to a mere 8 percent of GDP today. A decrease of 80 percent. It is no more the major foreign currency generator. The tourism industry has taken over that role.

To solve the actual economic problems, the government keeps grasping at straws. Too much effort is spent on reviving outdated economy boosters, trying to restore the old pillars. There seems to be no sense of innovative awareness, via the creation of disruptive technologies, neither knowledge of current economic trends.

Opportunities like European business delegations preparing for their start-up in Latin America, are neglected. And for, among others, this reason, the new to install sustainable businesses development foundation should not be a political initiative. The concerns of the government are mostly biased by the ruling parties’ wishes to win the next election. The above-mentioned new development foundation should be an initiative of local businesses and backed by the banks. For the simple reason that an economic rebirth will primarily benefit them because of their position in the economic cycle of Curaçao.

By Orlando Meulens


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