PHILIPSBURG, Sint Maarten — The Ministry of the Interior and Kingdom Relations (BZK), through its Temporary Work Organisation (T.W.O.), has approved a subsidy of XCG 800,000 (€408,000) to support critical reforms aimed at improving the business and investment climate in Sint Maarten.
The subsidy, granted under the framework of the Country Package agreements, will fund a series of strategic initiatives outlined in the Plan of Approach “Improving St. Maarten’s Business Climate.”
The funded activities focus on four key areas:
– Digitalization and centralization of licensing procedures:
This project aims to modernize and streamline the application and management of business licenses through a centralized digital platform, reducing bureaucratic delays and simplifying processes for entrepreneurs.
– Enhancement of SME financing structures:
Measures will be implemented to improve access to financing for small and medium-sized enterprises (SMEs), helping local businesses overcome traditional barriers to investment and stimulating sustainable economic growth.
– Digitalization of the Chamber of Commerce registration process:
The Chamber of Commerce will upgrade its systems by introducing clean data management, online registration, digital payments, and website improvements, making business formalization more efficient and accessible.
– Establishment of an Investment Promotion Agency (IPA) and entrepreneurship program:
A new agency will be established to actively attract both domestic and foreign investment, alongside programs that support entrepreneurial development and foster a vibrant business ecosystem.
“Supporting these reforms demonstrates our commitment to the structural improvement of Sint Maarten’s business environment,” stated Leona Romeo, Liaison Sint Maarten at T.W.O.
“By investing in these targeted initiatives, we are helping to create the conditions necessary for local businesses to thrive and for foreign investments to be more easily attracted to the island.”
The activities funded under this subsidy are scheduled must be completed by April 1, 2027. With this subsidy, T.W.O. reaffirms its role in facilitating meaningful reforms across the Kingdom, ensuring that economic resilience and good governance are strengthened for the benefit of all citizens.
