The new policy plays an important role in realizing projects that can offer our economy growth prospects again
WILLEMSTAD - Recently, very positive news has become known about the change in policy, resulting in a serious revival of economic activities in the form of investments totaling 250 million guilders in construction projects.
This is the result of a change in the tax holiday policy announced by the Minister of Finance, Mr. Javier Silvania, regarding the conditions for facilitating land development projects, which will become part of our economic infrastructure. This policy change indicates that if there is a will, there is a way.
In addition to a number of attractive projects that are already being executed, the additional significance of the positive impact of this policy change should be taken into account. Curacao has to compete internationally for investments and this proves Curacao is on the right track with this facilitation. This means that foreign exchange will flow to the island through the financing, sale and use of these projects and more economic activity will follow.
Investing in these projects means increasing the capital stock and thus the production capacity of the economy, but also an increase in activities within the construction sector itself and a positive effect on other sectors of the economy, and last but not least, on employment on the island.
Finally, all this will increase the financial-economic and thus the fiscal base, which will contribute to public finances. It is very important that we realize that without investments in Curacao, for whatever reasons or arguments, nothing will happen. Therefore, it is important that we are also aware that investing in the productive sectors broadens the economic base of a country, which will lead to higher productivity and more capacity for the facilities.