Suriname's new National Assembly to hold its first meeting on June 29.

Happy Monday!

This week, we cover the plans for the new National Assembly to hold its first meeting, Suriname’s investment prospects, and a celebration of Dutch farmers’ immigration to Suriname in 1845.

The new Surinamese National Assembly plans to hold its first meeting on June 29, 2025.

• The new Surinamese National Assembly (DNA) will hold its first meeting on Sunday, June 29, instead of the originally planned Monday, June 30. This is to ensure the five-year parliamentary term ends properly.

• The session will be led by Rabin Parmessar (NDP), the oldest elected member, pending formal invitation and swearing-in by President Chan Santokhi, expected early this week.

• 50 elected candidates have accepted their positions so far. While the elections for Speaker (expected to be Ashwin Adhin from NDP )and Deputy Speaker of the House will be held on that day.

• The transfer of executive power to the new president must happen by July 16, for which Assembly members have to submit nominations in writing. These nominations are due at least three days before the election date.

• If no candidate wins a two-thirds majority in two voting rounds in the Assembly, the vote shifts to the United People's Assembly (Verenigde Volksvergadering).

Suriname had a celebration for descendants of Dutch farmers who arrived in Suriname in 1845, known as Booeres.

• On Friday, descendants of the Dutch farmers who arrived in Suriname in 1845 celebrated 180 years of Boeroes in Suriname in a relaxed, festive atmosphere. Events included wreath-laying, fishing, shopping, wine and beer, motorbike parades, a fly-over by Gum Air, book presentations, and school donations.

• In response, the Boeroe community stated that they appreciate the national holiday dedicated to them, but prefer a single shared day of celebration for all ethnic and migrant groups in Suriname, to reflect their common history.

• Despite the original 1845 migration being declared a government failure (due to many deaths and returns), today's Boeroes are well-integrated and contribute significantly across sectors like agriculture, education, aviation, and public service.

• Minister van Onderwijs, Wetenschap en Cultuur Henry Ori, representing the president, acknowledged their contributions but noted they're often overlooked in Suriname’s multicultural narrative.

The OKB (Independent Electoral Office) declared the 2025 election results binding despite the numerous procedural and administrative errors.

• The errors cited include: Poor performance by polling station staff; Confusion between electoral authorities (CHS vs OKB); Distribution of multiple voter cards to single addresses; Mismanagement of new electoral rules, including issues with district seat allocations (e.g., extra seats in Moengo).

• Main concerns were underqualified or disengaged personnel. The process lacks accountability and recommendations for improvement.

• Some known problems were discussed in advance (e.g., digital system flaws), yet solutions weren’t implemented. A permanent, independent election body must be created to prevent future issues.

• The Ministry of Internal Affairs now plans to provide explanatory notes to avoid future confusion.

• Officials agree that Suriname’s election system needs major reform, especially in terms of clarity, coordination, and independence. A professional electoral authority is needed to restore credibility and prevent further decline in electoral standards.

Oil and gas exploration and economic prosperity continue to loom over Suriname.

• TotalEnergies has identified new oil wells to sustain long-term production in the GranMorgu project off Suriname’s coast. The project may extend plateau production for over a decade, with more large-scale developments expected.

• GranMorgu, in Block 58, is a joint venture with APA Corporation and Staatsolie. It involves a USD 10.5 billion investment and includes 30 wells.

• An FPSO (Floating Production Storage and Offloading) platform will process 220,000 barrels of oil per day. The project is 20% complete, with the FPSO hull already delivered.

• TotalEnergies praised Suriname's logistics base and professionalism. The project will create ~6,000 local jobs, with first oil expected in 2028.

The Surinamese government and the African Export-Import Bank will collaborate to establish a $5 billion Local Content Facility aimed at supporting Suriname’s oil & gas sector and broader economic development.

• The announcement was made by Afreximbank Executive VP Kanayo Awani during the Suriname Energy, Oil & Gas Summit (SEOGS) in Paramaribo.

• The fund is designed to finance infrastructure projects, develop skills and capacity, and strengthen local businesses. The fund aims to help maximise economic benefits from the upcoming offshore oil production.

• The bank will also provide legal and policy advice for local content regulation and assist in shaping a framework that encourages local participation in oil and gas development.

• This development follows a recent $1.6 billion financing deal with Staatsolie and reflects a growing Afro-Caribbean cooperation and international confidence in Suriname's energy future.

• The fund’s structure and management will be developed in upcoming negotiations as the initiative is seen as critical to ensuring that the oil boom drives inclusive, long-term growth across Suriname.