About our Ministry

The Ministry of Economic Development (MEO) gives direction to sustainable economic development for the community of Curaçao. Our main goal is to achieve a high quality of life for every inhabitant of Curaçao. The ministry wants to achieve this by effectively anticipating on socio-economic and international developments, providing optimal service and carrying out a profound strategy. The Ministry of Economic Development is responsible, among other things, for stimulating and supporting the local business world, grant the necessary economic permits and maintaining international contacts to attract investors who can contribute to more job openings

The Ministry of Economic Development is one of the 9 ministries of the Government of Curaçao. At the top there is a Secretary-General secretary who is responsible for the day-to-day running of the ministry.
The Ministry of Economic Development consists of the following departments:

• Economic Inspection
• Policy organization
• Business Sector
• Economic Development & Innovation Sector
• Foreign Economic Cooperation Sector
  

Economic inspection is a department that falls directly under the Minister of Economic Development. Economic Inspection is in charge of executing the service called calibration (Ijkwezen) and economic controls with the aim of curbing inflation and protecting the market against unfair competition.

The tasks pertaining to calibration (Ijkwezen) include a/o:

• Weight control
• Measurement control
• Control of measuring and weighing devices for commercial use

The tasks pertaining to Economic Control include a/o:

• Control of prices of products and services regulated by the Government
• Control over compliance with the establishment ordinance
• Control of the operating hours of establishments

The Policy Organization is a think tank of professionals in economic policy and is the organizational unit where policy is developed, monitored, and evaluated within the Ministry. Additionally, this organizational unit advises the Council of Ministers through the Minister of Economic Development on financial-economic and socio-economic policy issues and provides policy advices. The team collaborates extensively with other policy institutions both locally and internationally.

Moreover, the Policy Organization, Initiates, coordinates, and conducts quantitative macroeconomic analyses, including macroeconomic impact studies of investment projects as well as assessing the effects of proposed policy measures and initiatives, using the macroeconomic model Curalyse and the Household and CuraTax modules.

The Business Sector ensures a favorable business climate that stimulates and contributes to small and medium-sized companies. The sector’ s goal is to also bring knowledge and train (future) entrepreneurs, since small and medium-sized companies form the backbone of the Curaçao economy.

The Business Sector has two departments:

• Department of Price Calculations & Business Support and
• Department of Economic Permits

The Department of Price Calculations & Business Support is in charge of the periodic calculation of prices of, among other things, essential products (Makutu Básiko), small buses, taxis, medicine, etc. This department also supports entrepreneurs and encourages entrepreneurship through incentive programs. It is also in charge of granting an exemption in case of importation of eggs and some fruits and vegetables.

The Department of Economic Permits evaluates and processes requests for, among others, establishment permits, HORECA permits, and e-zone permits.

The Economic Development & Innovation Sector is a dynamic implementation sector within the ministry. The Sector facilitates the development of different sectors of the Curaçao economy and fortifies our economic infrastructure. Stimulating innovation, innovative thinking and entrepreneurship are like a red line in management initiatives, supporting the business environment and other economic sectors.

The sector has different management areas under its responsibility. For example

• Knowledge economy
• Innovation, technology and digitalization
• Competition
• Energy
• Labor Market (Employment)
• Cooperative
• Development of high-quality sectors such as the tourism sector, international financial sector, ICT sector, logistics and maritime sector, transnational education, circular economy and creative industry (particularly the film industry)

The sector also ensures for subsidy and/or coordination of the work of some organizations that execute products under the management areas of the sector. These are:

• Fair Trade Authority Curaçao  (FTAC)
• Curaçao Tourism Development Foundation (CTDF/CTB)
• Curacao Film Office  (CFO)
• Curaçao Innovation & Technology Institute (CITI)
• Fundashon pa Konsumidó (FpK)
  

The Foreign Economic Cooperation Sector is in charge of international economic policies and actively stimulates the international market and investments.

The sector also works on development and stimulation of International Business and Foreign Investments.
The sector also works on effective economic diplomacy in order to promote the interests of the Curaçao economy as a whole and particularly in relevant economic enterprises.
The policies of management of the Foreign Economic Cooperation Sector are:

• Commercial Policy
• Economic Diplomacy

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