At least 60 micro, small and medium-sized enterprises (MSMEs) in Suriname will benefit from skills and strategies for businesses program that will strengthen their export capabilities for entry into new regional markets.
The region’s premier financial institution the Caribbean Development Bank (CDB) says it is funding the project together with the European Union (EU). The 22-month initiative, titled “Marketing and Branding of Micro, Small and Medium-sized Enterprises in CARICOM”, is supported through the CARIFORUM-EU Economic Partnership Agreement (EPA) and CARICOM Single Market and Economy (CSME) Standby Facility for Capacity Building.
The Euro 394,622 (One Euro=US$1.29 cents) project includes a 25 percent contribution from the of Suriname government.
Economic Affairs, Entrepreneurship and Technological Innovation Minister, Rishma Kuldipsingh, commended project partners and beneficiaries.
“I congratulate you all on this milestone and wish the team success in executing this project. The Government of Suriname is grateful for our partnership with the EU and CDB through the EPA and CSME Standby Facility for Capacity Building. By working together, we will achieve desired growth and development for MSMEs so they can significantly contribute and add value to our national and regional economies.”
Head of Cooperation, Delegation of the European Union to Guyana, Joan Nadal Sastre, said “this project will build economic resilience through private sector development and growth of MSMEs in Suriname.
“It will also enhance business support organizations and develop their capacity to provide strategic advice on marketing, branding and export development approaches within the region,” said Nadal Sastre.
Director of CDB’s Projects Department, Daniel Best, speaking at the launch of the initiative, said “we are commencing this exciting initiative knowing that it will lead to a strengthening of the trading power of 60 MSMEs operating in Suriname.
“The project’s investment and technical expertise will empower this cadre of beneficiaries to overcome challenges faced in promoting their products and services across CARIFORUM Member States.”
The enterprises in Suriname will receive support in market research and brand development; skills development in branding, marketing, and communication; and capacity development in export readiness.
They will also gain an increased understanding of export prospects. The project will also sensitize entrepreneurs, particularly women, youth and those in rural communities, to opportunities in three selected markets: Barbados, Guyana and Trinidad and Tobago, the CDB added.
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