As Guyanese businesses look towards growth and expansion, our neighbor Suriname presents a compelling opportunity. The Suriname Guyana Chamber of Commerce (SGCC)’s International Business Conference, taking place from February 4-6, 2025, offers a prime platform to explore this potential. Here are 20 compelling reasons why Guyanese companies should consider expanding into Suriname:
Geographic & Logistical Advantages:
- Natural Growth Market: Suriname shares a river border with Guyana, making it the most geographically accessible Caricom market.
- Duty-Free Access (Caricom): As fellow Caricom members, Guyana and Suriname enjoy duty-free trade, streamlining import/export processes.
- Easy Transportation: Frequent flights (Surinam Airways, Caribbean Airlines, Gumair/Trans Guyana) and a reliable ferry service provide convenient travel and transport options. Flights are under an hour.
- Similar Demographics: Shared cultural and ethnic diversity between the coastal populations facilitates easier market understanding and adaptation.
- Thriving Tourism Sector: Suriname’s well-developed eco-tourism and hospitality sector, with safe environments, resorts, casinos, and excellent service, offers both business and leisure opportunities.
Business & Economic Synergies:
- Shared Industry Opportunities: Guyana’s expertise in agriculture, mining, oil & gas, services, construction, and tourism is directly applicable to Suriname’s similar economic landscape.
- Doubled Market Size: Expanding into Suriname instantly provides access to a market of over 600,000 people, significantly increasing potential customer base.
- Investment-Friendly Climate: Both governments actively encourage foreign investment and are working to streamline business processes.
- English Proficiency: English is widely spoken in Suriname (ranked 27th globally), minimizing communication barriers.
Support & Collaboration:
- Suriname Guyana Chamber of Commerce (SGCC): The SGCC provides invaluable support through networking, business intelligence, and events, facilitating cross-border business ventures.
- Inter-Governmental Collaboration: MOUs between the Suriname Investment and Trade Agency and the Guyana Office for Investment strengthen the investment climate.
- High-Level Political Support: Strong commitment from both presidents and government officials fosters a collaborative environment for economic partnership.
- Currency Stability: Relative stability of both the Guyanese and Surinamese currencies against the US dollar provides financial predictability for businesses.
Strategic & Long-Term Advantages:
- Attracting Large Investors: Major international investors are increasingly interested in opportunities across both Guyana and Suriname, seeking partners and suppliers who can operate in both markets.
- Existing Diaspora Market: Significant Guyanese diaspora communities in Suriname create a ready market for familiar products and services.
- Gateway to Larger Markets (EU): Suriname’s strong ties to the Netherlands and the EU, including direct flights to Europe, offer potential access to much larger international markets.
- Achieving Economies of Scale: A combined market of over 2 million allows Guyanese companies to achieve economies of scale and become more competitive regionally and internationally.
- Learning from Success Stories: Surinamese companies that have successfully invested in Guyana provide valuable lessons and demonstrate the potential of bilateral expansion.
- Risk Diversification: Expanding into Suriname allows Guyanese businesses to diversify their operations and mitigate risks associated with relying solely on the domestic market.
The International Business Conference:
- Unparalleled Networking & Information Hub: The conference offers a unique opportunity to connect with key stakeholders, gain valuable insights, and explore concrete business opportunities in Suriname.
The International Business Conference is a crucial event for any Guyanese business serious about growth and regional expansion. It offers a focused environment to explore the immense potential of the Suriname market.
Learn more and register for the conference here: https://www.surinamebusinessconference.com/delegate-registration