Necessary conditions to promote economic development

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The government released the research report Entrepreneurship and Investment Climate Aruba. Improvement of the business and investment climate is a top priority of the government of Aruba. The vision is a dynamic business climate and stimulation of the economy. Through the years, implementation of reports issued by both local and international professionals, advising on necessary actions to improve the business and investment climate of Aruba, has been lacking.

Economic reforms aimed at a resilient, dynamic, and vibrant economy are also part of the Country Package. Measure E.6 aims to improve the business and investment climate of Aruba. As part of this effort, an independent consultancy firm, Economic Bureau Amsterdam, conducted research was conducted and provided advice. The basis of this research was the already-issued reports and stakeholder interviews.

The Minister of Economic Affairs, Communications, and Sustainable Development, Mr. Geoffrey Wever, gave a presentation to Parliament on February 14 on the progress of measure E.6 of the Land package and the implementation trajectory for the program “Reform business and investment climate Aruba”. Subsequently, the released report “Entrepreneurship and Investment Climate Aruba” was made public on Tuesday, February 15, 2022.

As part of the economic reforms, the report proposes four priority projects that will substantially improve the business and investment climate:

  • Accelerate and improve licensing decisions;
  • Digital one-stop shop – A coherent licensing system behind one window;
  • Implementation Aruba Fair Trade Authority;
  • Efficiently open a bank account.

These projects are the prioritized projects to work on the preconditions for economic development. In addition to these projects, there are simultaneous projects to stimulate different sectors, advertise Aruba on the international panorama, offer incentives to stimulate the economy and maintain the dialogue with potential investors. Minister Geoffrey Wever: “These four projects are essential preconditions for creating the necessary conditions to promote the economic development of our Aruba. Shared vision and cooperation are needed to achieve concrete results.