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The government is taking concrete and proactive
action to improve the overall investment environment for Curaçao:
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Modernization of economic legislation
is being undertaken. The most
important development in this has been the introduction of a
new Civil Code featuring a state-of-the-art Corporate Code (modeled,
of course, after the new Dutch civil code though not copied
from it). With its enhanced flexibility and simplicity the new
code greatly facilitates the conduct of business in the Netherlands
Antilles. |
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Participation of the Netherlands
Antilles in a large-scale regional project to improve the investment
and business climate and international competitiveness
in the most promising economies of the Caribbean Rim is another
important development. The Caribbean Rim Investment Initiative
as it's officially called was initiated in 2001 by the OECD
(an organization of industrialized countries), during a regional
conference in Curaçao. The CRII program comprises a comprehensive
diagnosis of the investment climate, and the elaboration of
an investment policy reform agenda. Participating countries
are elected from so-called emerging economies of the region
considered by the OECD to have real potential of reaching first
world status within a few years. Costa, Rica, Jamaica, the Dominican
Republic and the Netherlands Antilles are the first four Caribbean
Rim countries elected to participate in the project. |
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Business Environment Report:
As part of the CRII program, a diagnostic study (called the
Business Environment Report) on the Netherlands Antilles was translated into a Policy
Reform Agenda which was implemented during 2005, and which resulted in a considerably improved economic climate, certainly
considering the steps that have already been taken. |
The policy reform agenda is expected to focus on measures in areas
such as:
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Market reform (including labor and capital
market flexibility), still considered possible barriers for
doing business, |
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Continuation of the privatization program, |
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Further public sector reform to modernize
the tax regime, modernize the role of government and improve
public sector information to private sector stakeholders on
policies, |
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Further articulation of economic potential
and policy objectives, |
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And regional and international benchmarking
of the island's performance in order to enhance present policies
and raise our international profile. |
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