Curaçao looks to digital solutions to help boost economy

On April 22nd, 2020, Curaçao’s Council of Ministers endorsed a new National Export Strategy. This strategy will conduce to a more digitized trade development roadmap for the island, ultimately creating an economically diversified and resilient Curaçao.

This new export strategy was developed after extensive consultations with key stakeholder groups. These consultations were greatly assisted by specialists from the International Trade Centre(ITC).

Like many small islands in the region, Curaçao is especially vulnerable to the effects of the COVID-19 pandemic and this has prompted a consensus among decision-makers to develop an export strategy that places an emphasis on digital solutions as a way to diversify, connect and strengthen all of Curaçao’s economic activity.

This strategy identifies six priority sectors that have the potential for considerable growth in the island’s export profits. These sectors are IT services, education services, port and maritime services, tourism, creative industries, and financial services. In addition, the forthcoming activities in these sectors will be reinforced with trade support functions such as trade information, trade promotion, trade facilitation, and skills and entrepreneurship.

The importance of an e-government adoption for this new economic structure cannot be overstated, particularly e-government for businesses. This concept namely forms the bedrock on which the new export strategy is based and will entail the transitioning of relevant government services to online platforms, which will ultimately simplify and streamline the process of doing business.

Although the challenges posed by the COVID-19 crisis have deepened Curaçao’s preexisting economic weaknesses, the new National Export Strategy is poised to address them. In the strategy’s next stage, specific and detailed sector and functional plans that relate to the future economic success of Curaçao will be drawn up with stakeholders.  

The acting Executive Director of the ITC, Dorothy Tembo, stated the following about the island’s new economic strategy: ‘Curaçao’s timely move to build a more resilient and diversified economy, founded on sustainability and underpinned by technology, is a smart response. We at ITC are pleased to be accompanying Curaçao through this strategic transition.’