Economic Development and Self-Reliance

The cabinet aims to work together with governments, entrepreneurs, and public and private stakeholders on the islands to develop concrete solutions for the economies of the islands. Each island is responsible for its own economic development. For Bonaire, Sint Eustatius, and Saba, the Kingdom also plays a role in promoting economic development and self-reliance. Through the Land Packages, the Netherlands supports the autonomous countries.

State Secretary Szabó: “A broadly supported long-term vision for the economy, sufficient public investments, a well-functioning capital market, and good regional cooperation are, alongside good governance and a financially healthy government, important for economic development and self-reliance. This is essential for improving living conditions and providing new opportunities for residents and entrepreneurs in the Caribbean part of our Kingdom.”

Minister Beljaarts: "For a strong and future-proof economy in the Caribbean part of our Kingdom, a clear approach, targeted investments, and good cooperation are crucial. By giving entrepreneurs space and providing residents with perspective, we strengthen the economic resilience of the region."

Economic Priorities of Bonaire, Sint Eustatius, and Saba

Each island has been asked to indicate what they see as the most important economic priorities in both the short and long term. For example, Bonaire is working on sustainable tourism and strengthening infrastructure, Sint Eustatius is focusing on the further development of cultural-historical heritage and tourism, and Saba is concentrating on strengthening ecotourism and developing the port. For all islands, the allocated Regional Deals will contribute to realizing the plans.

From various reports and discussions with entrepreneurs, public entities, and civil society, five important tasks emerge that are not new but are essential for economic development. Access to banking services and financing is necessary to promote the business climate. Other preconditions include connectivity and infrastructure, reduced transport costs and regulatory burden, a well-functioning labor market, digitization, and availability of data.

Targeted Support for Economic Development of Autonomous Countries

Guidance of economic development is an autonomous matter for Aruba, Curaçao, and Sint Maarten. From the Netherlands, work is being done with the Caribbean countries on accessible financing for SMEs with the Guarantee Scheme for SME loans. Based on the agreements made in the Land Packages, cooperation is being undertaken to improve the alignment between education and the labor market and digitization.

In Sint Maarten, investments in infrastructure are taking place through the Sint Maarten Reconstruction Trust Fund from the World Bank. Additionally, in Curaçao, cooperation is ongoing for the development of a green hydrogen chain, and support is provided through the Caribbean Regional Technical Assistance Centre (CARTAC) in all three Caribbean countries.

Reducing Dependence on Food Imports
Food security is an important theme on all six islands. They are largely dependent on food imports from abroad, which makes them vulnerable and leads to high food prices. To address this challenge, the cabinet has allocated 24 million euros to increase food security and reduce dependence on imports in the long term. State Secretary Szabó has appointed a facilitator to investigate which instrument is most suitable for achieving sustainable and innovative results. The goal is to start implementing this plan after the summer.

On April 16, the Kingdom Relations Committee will debate with State Secretary Szabó and Minister Beljaarts about economic development and self-reliance of the Caribbean parts of the Kingdom.