New Strides in New Markets: Curaçao’s International Image

from Curacao Business Magazine | Edition 2, 2016

Shaping the Future of Our City Center: The Downtown Management Organization

TEXT VANESSA VAN DIJSSELDONK NEW STRIDES IN NEW MARKETS

THE KINGDOM OF THE NETHERLANDS SIGNS MOU WITH THE DOMINICAN REPUBLIC After three years of ongoing negotiations, can Republic and Haiti, Marijke van Druinentechnical and political consultations in order the Kingdom of the Netherlands and the Do Littel, for the Netherlands and Aruba. Minister or ensure the momentum is kept in developing minican Republic signed a Memorandum of of Foreign Affairs, Miguel Vargas, signed the protocols to give content to the signed docuUnderstanding (MoU). The signing took place MoU on behalf of the Dominican Republic. ment. This provides renewed opportunities for in Santo Domingo where the Minister of Ecothe business community in Curaçao, stimulanomic Development, Eugene Rhuggenaath, The MoU contains several areas of cooperating foreign direct investment and increased signed on behalf of Curaçao; Prime Minister tion including commerce, education, health, cooperation between the Dominican Republic William Marlin, on behalf of Sint Maarten; regional security, trans-shipment and tourism. and all parts of the Kingdom of the Netherand the Kingdom Ambassador to the Domini In addition, the MoU has provisions entailing lands.

CURAÇAO RENEWS OPEN SKIES AGREEMENT WITH THE UNITED STATES OF AMERICA On 26 September 2016, the Minister of Traffic, Transport and Spatial Planning of Curaçao, Suzanne Camelia-Romer, and the U.S. Consul General to Curaçao., Aruba, and Sint Maarten, Margaret D. Hawthorne, signed an Open Skies Agreement between the United States and the Kingdom of the Netherlands, in respect of Curaçao.

This Agreement’s aim is to deepen the commercial and economic ties that exist between the United States and Curaçao, which is achieved by establishing a framework for a modern commercial aviation relationship. It will in turn lead to the creation of various opportunities for growth in air transportation services, as well as offering potential benefits for travelers, airlines and businesses. It is expected that by facilitating the development of air links, both the Governments of the United States and Curaçao will advance economic growth in sectors beyond aviation, including tourism.

NEW STRIDES IN NEW MARKETS

CURAÇAO’S CONCESSION AGREEMENT WITH DAMEN SHIPYARD GROUP

On 9 September 2016, the Minister of Economic Development, Eugene Rhuggenaath, and the CEO of Damen Shipyards Group, René Berkvens signed a concession agreement. This agreement is in regard to the future operation of the current Curaçao Drydock Company (CDM).

Damen will establish a new company in Curaçao, namely Damen Shiprepair Cura çao. As stated in the agreement, Damen will start operations in the two graven docks and on the available quays, but will also bring a floating dock for extra capacity. Addition ally, a total of $ 40 million will be invested in the infrastructure and training facilities for personnel.

Damen Shiprepair Curaçao will become part of the Damen Shiprepair & Conversion group that currently operates 40 dry docks in 15 shipyards around the world. For Curaçao this offers the opportunity for renewed dry dock facilities injecting new growth into the development of this pillar of Curaçao’s

MOU WITH GUANDONG ZHENRON ENERGY On behalf of the Government of Curaçao, Prime Minister Bernard Whiteman signed a Memorandum of Understanding (MoU) with Mr. Binyang Chen, president of the Chinese company Guandong Zhenron Energy Co. Ltd. regarding the future of the oil refinery located in Curaçao. The oil refinery consists of the refinery itself located at Emmastad, the Bullen Bay Oil Storage Terminal and the Curaçao Refinery Utilities.

The MoU contains provisions regarding cooperation and an investment agreement of $ 10 billion for renovation, modernization and complete inspection of the refinery. The Multi-Disciplinary Project Team (MDPT), headed by Werner Wiels, was also present during the signing. The MoU functions as the beginning of negotiations regarding the future development of the refinery in Curaçao

economy. It will create more jobs, and give Curaçao the potential to become a hub for ship repair in the Caribbean.

and does not exclude participation of other investors or partners in the future of Cura çao’s refinery. The signing comes right before

the end of the current contract between the Curaçao Government and Petróleos de Ve nezuela SA which is set to expire in 2019.

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