Description
The Government of Suriname (GOS) officially considers foreign direct investment an important contribution towards developing the country. The GOS Development Plan 2012-2016 identifies bilateral and multilateral partners as well as private foreign investors as important means to develop the economy. The GOS created the Investment Development Corporation in April 2014 but it appears to be a marketing vehicle without any policy or regulatory role at has no investment laws or policies which discriminate against foreign investors by prohibiting, limiting or conditioning foreign investment in most sectors. Oil is the exception where the state-owned oil company, Staatsolie, maintains sole ownership of all oil-related activities. Foreign investment is possible through exploration and production sharing agreements with Staatsolie. Staatsolie executes oil exploration agreements with foreign firms through a fair and competitive bidding process.
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