Curacao Business Magazine | Edition 3, 2015

CURAÇAO

WWW.CURACAOBUSINESSMAGAZINE.COM

A Different Dutch Caribbean

An Island With More Than Just White, Sandy Beaches Meet the Chamber Rinke Karman, Economist

Curaloe®

Preparing for International Expansion

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EDITION 3 | AUGUST 2015

FOREWORD

LETTER FROM THE EDITOR

LETTER FROM THE PRESIDENT

Summer is here! For those of us living on Curaçao, it typically means finding a camp for our vacationing kids and/or leaving the island for a vacation ourselves. In business, it indicates the mid-year point, and perhaps a time to reflect on those goals we set back in January. Are we getting closer to reaching those goals or perhaps have even already accomplished them? If the answer is no, perhaps this is a good time to reflect on why not.

The capital of Curaçao, the city of Willemstad, has been for centuries long a trading post and a central point in the North-South and East-West trading between continents and countries.

I will defer to Tony Robbins, who I have been quoting since I attended one of his events last December. Part of my summer reading list was his book Awaken the Giant Within. Here are some insights from that book that I think will give you all food for thought as to why you may not have accomplished your goals, and how you can make that change once and for all: All goal setting must be immediately followed by the development of a plan and with massive and consistent action toward it’s fulfillment.

If you haven’t been able to summon your power to take action, it’s because you have failed to set goals that inspire you. Re-evaluate your goals and be sure they reflect your values and passion in all aspects of life.

Sometimes the problem is not the goals themselves, but the approach to accomplishing the goals. Some give up too soon because they aren’t getting the immediate positive feedback they think they need.

Others just aren’t consistent enough. It’s not the things we do once in a while that changes our lives, it’s what we do consistently. Finally, those who are most successful have an unparalleled amount of perseverance. If the goals you set are really founded on your core goals and values in life, don’t give up. Those who are most successful will change their approach as often as necessary, but always maintain the ultimate vision.

We can make changes right now. The challenge is that our cultural programming teaches us that changing our problems quickly is impossible. It’s not making the change that takes time, it’s getting ready to make the change; the change itself occurs in an instant.

Sometimes you just have to make a decision and do it. It maybe the right one, it may be the wrong one, but making no decision at all is worse. If it’s the wrong one, you can learn from it by allowing it to help you shape your next decision, building step-by-step towards accomplishing your goals.

As a colonial trade settlement it shares a common cultural history with other counterpart cities in the Caribbean region. With its natural harbour the historic Area of Willemstad is a historic port town laid out in a setting of natural waters. Willemstad’s entire city center has been recognized by UNESCO as a world heritage site.

The combination of its history together with the beauty of the physical infrastructure has been rediscovered as a tourism and leisure investment opportunity. This has led to more restoration of the inner city, with a concentration in the Pietermaai and the Scharloo District; the Pietermaai District was recently the scene of a successful international Jazz Festival.

Whereas living on the upper floors of the stores has vanished throughout the years, recently it has also been rediscovered and has been adding to the ambiance and rich atmosphere of the old city centre.

Following a period of fiscal adjustments, Curaçao has repositioned itself as an attractive tourist destination, attracting new investments. The industry is the leading pillar of our economy and in this edition we are publishing an interview with dr. Tico Croes, whom has been leading an international team which assisted Curaçao with the design and engineering of its Tourism Master Plan for the coming years, targeting those whom love to enjoy the diversity of the island during vacations. The Masterplan has gone through varios stages and is now ready to be approved by the Parliament as the way forward for the industry.

There are various articles that inform you of how our economy is moving forward and also information for the Curacao Business community.Enjoy this edition of Business Curacao. Let us know you comments.

William (Billy) Jonckheer

Take time this summer to reflect, re-evaluate and forge ahead with passion and perseverance!

Heather de Paulo Chief Editor

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Curaçao Business PUBLISHER Curaçao Business Media Group b.v.

POSTADRES ON CURAÇAO: Sta. Rosaweg 19 Willemstad, Curaçao EXPLOITATION Van Munster Media BV P1: Postbus 6684, NL-6503 GD Nijmegen, The Netherlands P2: Kerkenbos 12-26c, NL-6546 BE Nijmegen, The Netherlands T: +31(0) 24 373 8505 F: +31(0) 24 373 0933 I: www.vanmunstermedia.nl PUBLISHER Michael van Munster T: +31(0) 24 373 8505 E: michael@vanmunstermedia.nl CHIEF EDITOR Heather De Paulo T: (599-9) 736-5011 E: heather@vanmunstermedia.nl SALES ENQUIRIES T: (599-9) 736-5011 F: (599-9) 736-6365 E: heather@vanmunstermedia.nl, curphoto@gmail.com SUBSCRIPTIONS Subscriptions: NAF 35 per year (4 issues) I: www.Curacaobusinessmagazine.com T: 0031 (0) 24 373 8505 E: abonnementenbeheer@vanmunstermedia.nl MARKETING AND SUBSCRIPTIONS Stephan Aalbers E: stephan@vanmunstermedia.nl ART PRODUCTION Jan-Willem Bouwman PHOTOGRAPHY Jonathan Jonckheer DISTRIBUTION Nieuwe Post, Curaçao The publisher and its staff cannot be held liable for the contents of this magazine and statements and/ or its advertisements do not necessarily reflect its editorial views.

Although the greatest care was given to the accuracy of the information in this publication and checked where possible, the publisher and the editors explicitly contest any liability for any incorrectness or incompleteness of the information provided.

van munster m e d i a

g r o u p

6 A Different Dutch Caribbean: an Island With More Than Just White, Sandy Beaches 13 Rinke Karman, Economist 14 New Customary Salary Rules 17 News 18 Walking Stimulates Creativity 20 COC Successful Trade Mission to Colombia 22 Fostering Curaçao’s Entrepreneurial Culture - Start-Up Curaçao 24 Preparing for International Expansion - Curaloe® 28 Curaçao’s Potential for Trade Facilitation: The Island’s Best Kept Secret 30 Curaçao: A Land of Opportunity 33 News 34 Keeping Diversity In Mind 37 News 38 Crowdfunding Ambassadors 40 Practicing Mindfulness in the Age of Complexity 42 Curaçao: Building the Logistics Hub of the Caribbean 44 Catering: Health Boost Or Hazard?

46 Talk Like TED: The 9 Public - Speaking Secrets of the World’s Top Minds

“Though the island prides itself in having a diverse economy, including the refinery, the financial sector, and the harbor, tourism remains its most prized industry.”

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GUEST CONTRIBUTING AUTHORS Rachel Shaikh graduated with a

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degree in Tax Law and Civil Law, and is finishing her Masters in Notarial Law and Transnational Legal Studies from the VU University Amsterdam. Her experience includes working in the Notary and for the Ministry of Finance in The Hague, the Netherlands. She has recently joined Meijburg & Co Caribbean in February 2015. She advises her clients about various fiscal en legal issues.

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Local entrepreneurs and business organizations given the opportunity to meet with potential customers, counterparts, and exporters.

Lesley Hornung is a Brand & Communications Officer at PwC Dutch Caribbean. Besides her educational background in communication and media, she focusses on brand experience. She is also an active member of PwC’s Corporate Responsibility team.

--------------------------------------------------------------------Marjolein van den Berg graduated in both Fiscal Economics from Tilburg University and Tax Law from Maastricht University. She started working for a tax consultancy firm in The Netherlands and joined Meijburg & Co Caribbean in March 2014. Her focus is Knowledge Management.

--------------------------------------------------------------------Gonneke van den Kieboom

Start Up Curaçao, a platform set up to help entrepreneurs become successful in Curaçao, held a Business Marketing Fair on April 24th to present Workspot Curaçao.

22 “Though the benefits of those tax treaties are now a dim memory, Curaçao has been able to continuously adapt itself to meet the demands of what it means to be an international financial jurisdiction.”

is brand strategist and innovation specialist. Her focus is trend watching, technological developments, changing human behavior and the opportunities for organizations and brands. Her goal is to bring innovation to Curaçao by developing innovative concepts together with the group of Creative Lab

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A Different Dutch Caribbean:

An Island With More Than Just White, Sandy Beaches Tourism is the largest industry in Curaçao and by far contributes more to the economy, directly and indirectly, than any other sector. “Though the island prides itself in having a diverse economy, including the refinery, the financial sector, and the harbor, tourism remains its most prized industry,” stated Dr. Robertico Croes, Associate Director of the Dick Pope Sr. Institute for Tourism Studies at the Rosen College, part of the University of Central Florida.

TEXT PRISCILLA LOTMAN

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In June 2015, after many years without a Tourism Master Plan, Croes and his team, on behalf of the Curaçao Tourism Board, presented the findings and recommendations for the sector.

The plan aims to set clear guidelines for the development of the tourism sector over the next five years for Curaçao.

One of the main drivers of the new Tourism Master Plan is data. The team has done extensive research on a number of items within this industry to identify trends, spending patterns, investment requirements, required number of flights, the markets that should be targeted and the perception

of both the locals and the tourists of Curaçao. The results are the basis for the growth spiral the team foresees, should the recommendations be implemented and the investments made.

The Tourism Industry and Socio-Economic Development For the last four decades, tourism has experienced continued growth and deepening diversification to become one of the fastest growing economic sectors in the world. Modern tourism is closely linked to development and encompasses growing numbers of new destinations. These dynamics have turned tourism into a key driver for socio-economic progress.

Curaçao would like to jump on this bandwagon and is taking the first steps in finding the right direction with the tourism master plan. In 2019, the island will see changes to the refinery, the financial sector and the debt repayment. In addition, structural problems such as unemployment, youth unemployment and almost stagnant economic growth need to be resolved both on a short and long term basis. This Master Plan focuses on the growth and income of the tourism sector to tackle these issues. “Tourism should be the strategic spearhead,” said Croes. “Growth in this sector will boost economic output, create jobs and consolidate businesses.” According to Croes, the undertaking and implementation of the Master Plan will address economic and social development, mobilization of the private and public sector, and institutional strengthening.

Market Segments and a Focus on the United States Croes and his team have come to the conclusion that the first market to be targeted should be the United States, though the Netherlands and Venezuela will continue to be important markets for Curaçao. “Considering the market size, spending power and affinity with the Caribbean islands, we’re advising that Curaçao should start looking towards the US consumer for growth – especially in the mid-west and the New England regions of the country,” Croes recommended. He went on to mention that the plan, which will be presented to the Curaçao Tourism Board, includes specific details on which US states and demographic markets the island needs to focus on, how many more flights need to be implemented and from which airports.

“Growth in the tourism sector will boost economic output, create jobs and consolidate businesses.”

Island Impressions The Tourism Master Plan is based on three premises; it is customer focused, it is based on a bottom up approach and it is data driven. There are about 250 direct stakeholders in this project, and the results are based on surveys and interviews with over 3000 people. “The findings of these surveys have been interesting,” said Croes. “Tourists rate the island highly, and ironically, the local population is much less positive about Curaçao and its hospitality industry.”

Croes’ main points are will, determination and approach.

“We have a good base and we can build from there. It is a question of will, and being nice to people is half the work,” Croes stated. “It’s important that the island is highly rated by the tourists after they have visited the island – so they come back.”

With the Caribbean islands known for their pristine beaches, crystal blue waters and easy-going lifestyles, it is no surprise that tourism is the main industry for most islands. Aruba and St. Martin, as Dutch Caribbean islands, are both exceptionally well known in markets such as the United States and Europe. “Curaçao can build on this: we don’t need to reinvent the wheel. For tourists the word ‘Dutch’ is synonymous with stability and safety,” said Croes. “Curaçao will be marketed as “a different Dutch Caribbean; an island with more than just white, sandy beaches.” It should not be the ‘best kept secret’ anymore. The island is ready for center stage.”

Dr. Robertico Croes,

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US tourists are targeted for a number of reasons. They are more likely to stay in a hotel, they typically stay for less than eight days, they spend more on average on vacation than other sectors and they are a large market with over 300 million people. These factors result in more direct income for the sector and a boost to the economy as a whole. “At the moment we have about 50,000 US tourists arriving each year, compared to the 600,000 that Aruba welcomes. Increasing the arrival rate by 10% in the coming five years is feasible,” Croes said compellingly. He also confirmed that US tourists look for that eclectic destination where there is interaction with the local community, a rich history and a relaxing beach; Curaçao checks all these boxes.

The Way Forward A change in mindset is what Croes advises. “Tourism has no future if it is not embedded in the people. This means that we should consider flexible working hours in Punda, duty free areas, and an overall more positive attitude about our island,” he asserted. There is also the responsibility of ensuring that Willemstad, on the UNESCO World Heritage list, be preserved and developed. It is a jewel of the island. Conde Nast, in their article about Curaçao in June 2014, focused on exactly this, “Curaçao is known for its gorgeous beaches, but there’s plenty more to do there than just catch rays, including new history-focused museums, a unique food culture, and a UNESCO-listed historic downtown.”

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“Curaçao should not be the ‘best kept secret’ anymore. The island is ready for center stage.”

Croes declared, “It is important to remember that it is not only the hotels, restaurants and shops that will profit from a growth in the tourist sector. The financial industry, the transportation and communication sector, and ultimately the government will all benefit. When each of us realizes that, there will be more collective effort to work towards growth.” Ultimately it is the responsibility of the entire population to ensure that there is more collective effort to propel the island forward and to appreciate the value of tourism. It is in everyone’s best interest and it will lead to a more prosperous future for Curaçao.

Making Curacao the most desirable destination in the Caribbean

Focus on USA Market

Income of 75K or more

College or Master degrees

50 years of age, married with kids

Attract stay over guests as they spend more

Increase airlift capacity and add new routes

Improve the shopping experience

Increase diversity of hotels

Increase activities portfolio

Deliver quality service

Improve overall safely

This will create 2000 local jobs

30% of new jobs to the youth

Achieve real economic growth by year 2

Create more opportunities

Improve the quality of life for all

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The value you’re looking for Creating value through diversity.

Be yourself.

Be different.

At PwC, we’re passionate about building relationships. Asking questions and understanding our clients lies at the heart of what we do. We use our global network of professionals combined with our local expertise and experience to help create the value you’re looking for. Learn more about us: www.pwc.com/dutch-caribbean.

Facebook: www.facebook.com/PwCDC LinkedIn: www.linkedin.com/company/pwc-dutch-caribbean © 2015 PricewaterhouseCoopers Dutch Caribbean. All rights reserved.

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Are you looking for something to do part-time during your own hours from home?

If you have a high level of English proficiency and good business writing skills, CBM is looking for writers!

If writing is not for you, but you have excellent people-skills, CBM is also looking for good sales people!

If you are interested in writing and/ or sales for Curaçao’s top English business magazine, please contact us at heather@vanmunstermedia.nl.

Rinke Karman, Economist Rinke Karman is the part of the team of economists at the Curaçao Chamber of Commerce. He studied economics in Holland at Rotterdam University. After graduating, he took his first job with the Ministry of Housing in Den Haag, where he worked for seven years as an accountant, specializing in subsidies for low-income households.

Karman started working at the Chamber seven years ago when he and his wife decided to move to the island to be closer to her parents.

TEXT HEATHER DE PAULO

CBM: What do you do at the Chamber?

RK: My job here is in the area of macroeconomic and socio-economic issues, such as tax reform, health reform, sustainable economic development, pension system reform and employment and economic planning issues. I advise more for general topics, while at the moment, my colleague, Dennis Dare, works more with projects, like export. The advice I give indirectly helps small business. If I advise on the reform of taxes, it’s in the general interest of the economy, specifically the entrepreneurs. For example, lowering profit tax is in the interest of the entrepreneurs. So, I advise the government on what would help the local business.

I also write about recent, cyclical economic trends based on the econometric model developed by the Chamber four times a year. It is distributed by email to whoever is interested and parts of it are posted on the Chamber’s Facebook page.

CBM: What do you find most rewarding in your job?

RK: In Holland I was a specialist, maybe two to three people knew about the work I did and the job duties were very specific. I did mostly the same thing every day. Here it’s very broad; any topic with economic content passes my desk. I like to puzzle, to understand complex problems.

I enjoy the challenges every day.

fuse process that takes patience and a diplomatic approach; it can take years before ideas proposed by the Chamber are implemented. An example is the “Ombuiging Fiscaal Regime.” This contains advice on tax reform that was prepared by the Chamber in 2001 with elements that were just recently implemented. An effective diplomatic approach sometimes requires others to advocate what you advise and hopefully celebrate the fruits of the labor together.

CBM: Where would you like to see Curaçao business in the next 5-10 years?

CBM: What do you find the most challenging?

RK: The core of my job is to explain the economic situation to others and to offer options to move further from there. My biggest challenge is to find the right way to communicate with others so they can understand the situation. In my former job in Holland, I was a specialist and those I worked with were in the same field, so I could speak in technical terms, like a doctor speaking to a doctor. Here, I am communicating with people who do not have a background related to economics, so I find it a challenge to convey the information in a way that’s easily understandable to everyone.

CBM: What do you wish businesses knew, but isn’t common knowledge, about the Chamber?

RK: The Chamber has three roles: administrative (the registry), informing the public and entrepreneurs about specific tasks and lobbying to the government. Everyone pretty much knows that the Chamber maintains the registry and provides advice and information to entrepreneurs, but I don’t think that people realize how much we do in their interest with lobbying to the government. This is what Dennis (Dare) and I do. When I try to explain this to those who ask, there are doubts about whether or not this is effective. It’s difficult to prove that what we propose is being implemented. Lobbying is a dif-

RK: I sincerely hope that decision-making takes a more rational direction and that the private sector should be more directed towards creative entrepreneurship, especially with those who do most of their business locally. I would like to see business be more open to creativity, with the ability to expand more.

CBM: What is your favorite resource?

To stay current in my field, I read a substantial part of my time. The reading varies from policy documents to technical background papers and local newspapers. To keep a broad view, I frequently visit websites that publicize opinions.

Some of my favorites are: • krugman.blogs.nytimes.com; • rodrik.typepad.com/dani_rodriks_weblog; • www.mejudice.nl.

For readers who are interested in international economic developments I recommend Project Syndicate. It’s a website with articles written by economists and politicians.

CBM: What do you do when you aren’t working?

RK: I’m a mountain biker – I don’t think many people know that. I bike four times a week and participate in the races regularly. When I’m not on my bike, I coach kids to be soccer goalies (keepers) at Willemstad.

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New Customary Salary Rules As of January 1st, 2015, Customary Salary Rules (in Dutch: gebruikelijkloonregeling) apply to an individual who works for a company in which he holds a so-called substantial interest. Someone holds a substantial interest, for example, if he holds (in)directly at least 5% of the issued capital, either solely or with his partner. Customary Salary Rules determine the minimum salary of the director-major shareholder (hereinafter: the ‘DMS’) for tax purposes.

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Salary versus Dividend income The Customary Salary Rules were introduced to prevent the possibility for a DMS to only receive a marginal salary or even no salary at all. Before introduction of the Customary Salary Rules this would allow the DMS to pay only a small amount of wage tax, or even no wage tax at all. Instead of receiving a salary, the DMS could choose to receive (lower taxed) dividend income. Salary is subject to progressive tax rates of up to 48.25%. Dividend income is subject to a special rate of 19.5% for purposes of individual income tax.

By declaring dividends instead of granting (more) salary, tax benefits could be realized.

Minimum Salary What should be the minimum salary be according to the new Customary Salary Rules? As might be expected, this depends on the circumstances. The minimum salary can be related to the turnover of the company, the salary for a similar employment elsewhere in the market or the salary paid to other employees of the company concerned or affiliated entities: • Turnover related In general, the salary should be at least an amount that is equal to 50% of the turnover of the company. However, in case the turnover of the company exceeds NAf 100,000, the customary salary should be at least NAf 50,000.

• Similar employment related If it is plausible that a lower salary is usually paid elsewhere in the market for similar employment, this lower salary may be applied. In other words, the market value salary (as if there was no substantial shareholding in the company) has to be taken into account.

• Other employees related When other employees are working for the company concerned or affiliated companies, the salary should not be lower than the highest salary of those other employees. However, if it is likely that the salary of the DMS should be lower considering the market value salary, then the salary should not deviate more than 30% from that market value salary. In this case, the salary should be at least equal to either 50% of the turnover or NAf 50,000 if the turnover exceeds NAf 100,000.

Exceptions and Special Rules The new Customary Salary Rules do not apply to every DMS. Depending on the type of company in which the shares are held, one can be excluded from the Customary Salary Rules. For example, when it concerns a Tax Exempt Company there is no obligation to apply these rules. Also, when the turnover is less than NAf 25,000

per year, the Customary Salary Rules do not apply.

Furthermore, special rules can apply when a DMS is working within a group structure for more than one company. In such cases, the total turnover of all the affiliated companies will be taken into account. Under specific circumstances one can ask the Tax Inspector for an exception to the general rules.

Conclusion The new Customary Salary Rules may result in wage tax obligations for the DMS and possibly a higher amount of wage tax due. Probably the most important aspect is to determine the (minimum) amount of salary that can be regarded as customary. For some of the DMS, the tax impact of the new rules can be significant. For others, given the different salary tests and the introduction of special rules and exceptions, the ultimate tax effect of the Customary Salary Rules is under circumstances limited.

If you would like to know the possibilities for your situation, please feel free to contact the tax professionals of Meijburg & Co Caribbean. You can visit our website www.meijburgcaribbean.com or send an e-mail to meijburgcaribbean@kpmg.com.

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Maritime activities promoted in and around Schottegat In its endeavor to increase maritime-related activities in the harbor of Curaçao, Curaçao Ports Authority made good progress extending its contract with the Dutch company Van Oord Marine Ingenuity. On June 30th, they also signed a new contract with the local company Nederex and the Dutch shipyard Scheepswerf Damen. Since 2003, Van Oord has exploited commercial activities as an added value to the harbor, and the new agreement provides a modern prolongation of this presence.

Nederex, which has already been working with CPA, now joins with Damen for ship repair and the provision of maritime services. The new agreement with Nederex/Damen is a next step on the road to explore the possibilities of more and a greater variety of marine activities in and around the main harbor of Curaçao.

Curaçao No Longer on Blacklist of Europe Union While other islands and countries in the Caribbean are outraged about being blacklisted by the European Union as tax havens, Curaçao is proud to not be included on that list. The EU started with this listing in a fight against tax evasion, especially by big multinational corporations through a worldwide web of fiscal havens. The EU has been requesting that many countries modify their fiscal laws to show more transparency as to how money flows between the various subsidiaries. The islands and territories mentioned on the EU list are those that have not cooperated sufficiently with this request.

Great Public Support for Illuminative Invention Through the website kickstarter.com, the Curaçao born inventor Ian van Eenennaam and his business partner Luuk Verbakel, who are heading the company Elivatix, are well underway to raise the necessary 65,000 euro for the further development and production of their latest invention, the Lunaluxx.

The Lunaluxx is a lamp with a levitating light source using magnetic suspension. The prototype has already proven its efficiency and “cool factor,” but the inventors want to further develop their product to reduce production costs in order to mass produce the lamps in a cost-effective manner.

Curaçao Anticipates a Greater Influx of Colombians As of July 1, 2015, Colombians no longer need to have a visa to travel to Curaçao. With this change in policy, it is expected that Colombians will come in great numbers to vacation in Curaçao. In particular, the local hotels anticipate that they will benefit from the new situation. Following suit, the Curaçao government anticipates that the European Union may lift the obligation for Colombians to apply for a visa to travel to its countries as early as next year. For the time being, Colombians still need a visa to travel to the Dutch Caribbean islands, which includes Aruba, Bonaire, Saba and St. Eustatius.

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Walking Stimulates Creativity Researchers from Stanford University have found that walking boosts creative inspiration.

They examined the creativity levels of persons while they were walking, and while they were sitting down. On average the creativity level of the walking people increased by 60 per cent.

TEXT HANS HOOFT

If you claim that your best and most brilliant ideas come to you while you are pacing up and down, you are in good company: Steve Jobs, the deceased co-founder of Apple, was known for his walking meetings, and Mark Zuckerberg (Facebook) was also spotted holding meetings ‘on the hoof’. A recently published report concludes that walking indeed stimulates creative thinking. This boost even continues for a while after the exercise.

The report, ‘Give Your Ideas Some Legs: The Positive Effect of Walking on Creative Thinking’ by Stanford researchers Marily Oppezzo and Daniel L. Schwartz tells us why.

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The research revealed that it did not make any difference in the level of boosting whether the person was walking in-house or in the open air. The act of walking itself, and not the surroundings was the determining factor. In general, the creativity levels of the walking persons were consistently and considerably higher compared to those of the sitting persons.

Treadmill Other research focused on how, in general, aerobic exercise protects the long-term cognitive functions, but so far, apparently no research was performed that focused on the effect of non-aerobic walking on the simultaneous creating of new ideas, and to compare the results of this research with sitting down.

One of the experiments showed that a person who walked indoors – on a treadmill in a room facing a blank wall – or who walked in the open air produced double the amount of creative answers, compared to a person who was sitting in a chair. The ‘creative juices’ even kept flowing for a while after the person had sat down, the research revealed.

How to measure creative thinking The research consisted of four experiments in which 176 persons had to perform tasks that researchers normally used to measure creative thinking. The test persons were examined under various circumstances: indoor walking on a treadmill or sitting – in both cases viewing a blank wall – and outdoor walking or sitting in a wheelchair while they were pushed, in both cases following a predetermined routing. The wheelchair option was used to have the participants experience the same visual movement as the walking persons. Different combinations were also compared, such as two consecutive sitting sessions, or a walking session followed by a sitting one. The walking or sitting sessions used to measure the creativity lasted between 5 and 16 minutes, depending on the tasks tested.

Three of the experiments were ‘divergent thinking’ creativity tests. This is a thought process or method used to generate creative ideas by considering many different solutions.

In these experiments the participants had to come up with alternative applications for certain objects. They were given different sets of three objects and four minutes to come up with as many as possible solutions for each set. An answer was considered new if no other person in the group used it. The researchers also vetted the suggestions on applicability.

For instance: ‘wheel’ could not be used as a pinkie ring.

The great majority of the participants in these three experiments performed better creatively while walking than when they were sitting, the test showed. In one of these experiments the persons were tested indoors, first sitting, walking on a treadmill. The creative output increased by an average of 60 per cent when the test persons was walking.

A fourth experiment evaluated the creative output by measuring the ability to generate complex analogies for given sentences (prompts). The most creative answers were those which reflected the deeper structure of the prompt. For instance: for the prompt ‘a robbed safe’ the answer ‘a soldier suffering from PTST’ reflected the sense of loss, violence and disfunction. ‘An empty wallet’ did not. The result: 100 per cent of the test persons walking outside could generate at least one high-quality, new analogy, compared to 50 per cent of those who were sitting indoors.

In this test, the persons walking performed slightly worse than those who gave their answers sitting.

Productive creativity comprises a series of steps – from generating an idea up to the execution – and the execution showed that the benefits of walking applied to the ‘divergent’ element of creative thinking, but not for the more ‘convergent’ element of focused thinking which is characteristic of insight.

And: is it just about walking, or do similar forms of exercise produce the same boosting effect? Fact is that physical activity is important and too much and too long sitting is detrimental to a person’s health. The results of this research is yet another justification for the integration of physical activities in our work days, be it a lunchwalk or conducting a meeting while walking. Physical activity makes us healthier, and as a bonus: more creative.

Although the research has been able to ascertain some facts, it also raised many questions.

Like: how does the body influence the mind?

Based on an article from Stanford University Press

No connection to focused thinking But not all thought processes are similar.

Although the research showed that walking was beneficial to the creative brainstorm process, it had no positive effect on the sort of focused thinking that is necessary for single, correct answers.

“This isn’t to say that every task at work should be done while simultaneously walking, but those that require a fresh perspective or new ideas would benefit from it,” said Oppezzo.

The researchers gave the participants a word association task, one that is commonly used to gauge insight and focused thinking. The test persons were given three words, and their task was to generate the single word that could be used in combination with all three given words, to make compound words. To name an example: if the given words were ‘cottage, Swiss and cake’, the correct answer would be ‘cheese’.

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Left to right: Jan-Willem van Bokhoven (Director of Holland House Colombia) - Hugo Clarinda (Director of Curaรงao Tourist Board) - Willem (Billy) Jonckheer (President of the Curaรงao Chamber of Commerce & Industry) - Ramon Koffijberg (Director of CINEX).

COC Successful Trade Mission to Colombia The Curaรงao Chamber of Commerce and the Holland House in Bogotรก, Colombia organized a trade mission in Colombia from May 4 to 7, where local entrepreneurs and business organizations were given the opportunity to meet with potential customers, counterparts, and exporters.

TEXT FRANS HEILIGERS

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The main purpose of this visit was to give local businesses a chance to explore the possibilities of exporting their products and services to the much larger market. With a domestic market of over 48 million consumers, a flourishing internal situation, and an attractive business climate, Colombia is currently one of the most successful and stable emerging economies in the world.

Promoting Mutual Business On the first day of the trade mission, a seminar was held at the Chamber of Commerce of Bogotá where Mr. Willem Jonckheer, President of the CoC gave an introductory speech. He was followed by the Chairman of CINEX Mr. Luis Santine Jr., who spoke about the financial sector of Curaçao, as well as the different possibilities of trade and investment between the two countries. At least 50 Colombian companies were represented at this seminar. This was followed by an opportunity for Curaçaoan companies to individually meet possible new business relations from Colombia. The seminar confirmed the elements in favor of doing business with Curaçao: that the island is part of the jurisdiction of the Dutch Kingdom, that various languages are spoken (including Spanish), that compared to elsewhere in the region the general infrastructure is solid, that it has a good financial rating (A -), and its role as a stepping stone to North America and Europe.

The limitation of maritime transportation between the two countries is still an issue, but that may improve once demand increases.

Hague to annul this visa obligation, in order to open the door for a much easier flow of persons and merchandise from Colombia to Curaçao. Even before this visa termination, the CTB had noticed a remarkable growth of visitors from Colombia, a trend that will get a boost under the new circumstances.

Participants Satisfied On the last day of the mission, several local companies met up with Colombian companies before returning to Curaçao and they all described the trade mission as successful. The delegation may have been rather small, but each of the participants is confident that this mission was productive, as they had been in contact with the right persons and entities to build new relations, something that will benefit all involved in the future. Some even expect to have concrete results within a short time frame, since they already have follow-up meetings on a B2B level.

For further information, also on future trade missions to Colombia, contact the Chamber of Commerce by e-mail: businessinfo@curacao-chamber.cw.

Surprise Announcement The Curaçao Tourism & Business Center, located in the Holland House Colombia, was opened on the second day of the trade mission. King Willem-Alexander and Queen Máxima of the Netherlands had inaugurated the Holland House Colombia on November 22nd, 2013 as a joint project between the Chambers of Commerce of Colombia and the Kingdom of the Netherlands. This dedicated tourism and business center is an initiative of the CTB (Curaçao Tourism Board), CINEX (Curaçao Investment & Export Development Foundation), and the CoC (Curaçao Chamber of Commerce & Industry) to create a reference point for Colombian businesses and investors interested in doing business with Curaçao.

During the opening ceremony, Mr. Jonckheer and CTB’s interim Managing Director Hugo Clarinda, announced that they had just been informed that as of July 1st, 2015, Colombians will not require a visa when traveling to Curaçao, whether for leisure or business.

The expectation is that this new measure will also create new opportunities for trade and travel between the two nations. Curaçaoan authorities had been lobbying heavily for quite some time in The

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Fostering Curaçao’s Entrepreneurial Culture

Start-Up Curaçao Start Up Curaçao, a platform set up to help entrepreneurs become successful in Curaçao, held a Business Marketing Fair on April 24th to present Workspot Curaçao. This is a coworking space in the heart of Willemstad that is a joint venture with a larger company from the Netherlands, that focuses on providing flexible working spaces and other digital support services to aspiring entrepreneurs.

TEXT NEELAM MELWANI

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During the event, various organizations, project teams and entrepreneurs held short presentations. Mr. Willem “Billy” Jonckheer, the president of the Curaçao Chamber of Commerce and Industry, opened the event with a speech on how best to promote the new services available in Curaçao given the recent rise in export opportunities. Other speakers included the Curaçao Development Cooperation firm: Korpodeko; Junior Chamber International; CX Pay: a new service provider for online payments; Curaçao Innovation and Technology Institute; CORE N.V.: a local network provider; and Curaçao Investment and Export Promotion Agency.

About Start-Up Curaçao Start Up Curaçao was founded by a group of entrepreneurs in Curaçao. The platform focuses on providing entrepreneurs with the necessary services to set up their businesses. The founding principle of the platform is that collaboration is the key to success. The platform, therefore, mainly aims to connect entrepreneurs to one another, facilitates processes to allow them to help each other, and so, help themselves to be successful.

Services include the following: • The co-working space that opened on April 24th - a learning platform to bring entrepre-

neurs together and provide them with unique training and learning opportunities.

•A n investor platform to facilitate applying for and receiving funding.

•A n events platform with the aim of better connecting entrepreneurs to each other, locally and internationally.

Workspot Curaçao is a co-working space built in a historical building in Scharloo, located in the downtown area. The space is fully equipped with wireless Internet connection, computers and printers, and other office material. The area even has a fully equipped lounge with a couch and a hammock. Along with the large

open working spaces, clients can also choose to rent smaller more private office spaces as their companies continue to grow. Flexible working spaces are available for rent for different terms, at very reasonable costs.

Promoting Curaçao’s Entrepreneurial Culture Despite its small size, the possibilities on the island are endless, and in spite of the existence of endless possibilities, little has been done in the past to support entrepreneurs and allow them to make their ideas reality. Start Up Curaçao, as an all-encompassing platform, is a great step in the right direction. Its focus on stimulating collaboration through events and flexible workspaces is a huge step forward for an island that recently has seen an increase in its entrepreneurial culture. Bringing people together is vital for the success of any sole proprietorship.

With the possibilities of export increasing, as indicated by the Curaçao Chamber of Commerce, fostering the entrepreneurial culture is as important as ever. The world is becoming more and more interconnected, and Curaçao’s entrepreneurs should be provided with the necessary support to allow good ideas to grow and positive business initiatives to flourish, ensuring that Curaçao can continue to become a better place to do business, locally, regionally and internationally.

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Preparing for International Expansion

Curaloe

®

Building on a strong island legacy, the Curaloe plantation is distinctive in that it operates in the challenging agricultural sector of Curaçao. Despite the harshness of the Curaçaoan environment, Curaloe is on a growth trajectory to become one of the global leaders in the field of health and beauty products.

Fresh liquid is used in all aloe products

TEXT KATY BRANUM

A Soldier’s Saviour Curaloe is a small plantation that began in 1997.

They cultivate one of the island’s treasures, the Aloe Vera plant, which is found growing wild all over the island. Aloe Vera’s health and regenerative powers have been well known and documented from early times. Alexander the Great always had it with him, as it aided his large armies in many ways, such as for healing wounds, as a remedy for treating intestinal problems from eating a constant diet of salted food, and as a substitute for vitamins from lack of fruit and vegetables.

Since it can survive out of the soil for over twelve months, it was transported with the army as whole plants. As the army made its way across the many continents it conquered, the soldiers planted Aloe Vera wherever they camped. Thus the plant spread from its origins, through the Mediterranean to Southern Europe, into India, and across to Asia.

The arrival of the Aloe Vera plant to this part of the world, including Curaçao, dates back to Christopher Columbus’s exploration of the area.

The Spanish explorers had it aboard their ships for the same reasons that Alexander the Great had used it in the past. The plant prefers a lot of sun and a little water, so it found a natural home in the Curaçaoan climate.

Skincare Essential Today Aloe Vera is used in many products; however its dominant use is in the skincare industry, as it has over 75 unique bio active ingredients that are very important in skin cell production and rejuvenation. The common way to produce Aloe Vera for these purposes is to extract the aloe

gel, heat it up to evaporate the water and create a powder where additives are mixed in, and then export it to skincare manufacturers. These manufacturers then make skincare products containing aloe powder that is rehydrated. From the start, the Curaloe plantation produced the aloe as a liquid ingredient, as it believes in the symphony of all the ingredients in their natural composition, and then sold it to a manufacturer in Holland.

The plantation cultivated about 100,000 plants; however this was relatively small compared to the much larger Aloe Vera powder producing plantations in Mexico and the Dominican Republic.

Thus Curaloe didn’t have the economies of scale to compete against the other larger suppliers, despite the quality of their product.

New Path Around 2006, the Curaloe plantation started receiving visitors who began showing interest in the plantation as a tourist stop and thus, Curaloe decided to create a range of skincare products using their special aloe liquid. This was how the first Curaloe skincare range was born. Before long, the plantation started receiving feedback from the visitors who reported incredible results and were asking for more, so Curaloe launched a webshop to ship the products to all corners of the world. Since demand was increasing, Curaloe decided to work on further product development, packaging, and improving the attractiveness of the product range. With the strength of the Curaloe products becoming obvious, this naturally became the dominant focus for the plantation, and exporting the liquid to manufacturers halted.

In August 2014, Curaloe developed the facial and bodyline product collection. Working with experienced formulators, they improved the quality of the range and ensured that all products met the required industry standard protocols.

New packaging was also designed and created in preparation to launch the product line into new international markets. Since introduction, the new branding has already made a significant positive impact on the business. The team is currently working the various approvals for organisations that regulate the skincare industry, such as FDA (Food and Drug Administration) in the US. This process absorbs a lot of time, money, and resources.

Budget for sales and marketing activities to build the brand internationally shall come from profits going forward. The approach the management has chosen is to geographically segment the market, so that profits that are generated in each country will then be used for further promotional initiatives in that jurisdiction.

David versus Goliath In some markets, creative distribution strategies had to be found because of the enormous power of the distribution network. Remco Ernandes, the Commercial Representative for Curaloe explains, “In initial discussions with the key distributors in Europe regarding the new look of the product line, the feedback we received was that, although the Curaloe product range was nice and had a good story to it, it was not an easy story to tell to shoppers; it would cost the distributors a lot of

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Left hand side old product range.

Right hand side, re-branded product range.

money to educate the market. To clarify, although it is straightforward for the Curaloe team to tell the Curaloe story to the distributor, and the distributor can easily explain the Curaloe story to the salon owner, it is a complex story for the salon or store owner to communicate to their clients, especially in a situation where the client self-selects the product from a shelf which has other similar products.”

providing valuable feedback to the Curaloe team.

The plan is to also use this feedback in future marketing activities, such as testimonials, to continue building credibility and awareness for the Curaloe brand. Curaloe is also approaching famous people that come on holiday to Curaçao, providing them with gift packages to nurture the possibility for future commercial endorsements, which will also greatly assist in product awareness.

Fresh Thinking

Forecasting and Logistics

Curaloe decided to develop an alternative distribution strategy to access the store and salons in these markets. The chosen approach will not only save Curaloe valuable middleman fees, it also provided direct access to spa owners and other valuable contacts. Curaloe will create an online B2B web platform, so that stores and salons can order directly; the orders will be shipped from the warehouses in the relevant geographical area.

This created the possibility for smaller professional stores to buy directly from the plantation.

Remco also shared that he is training people to become Curaloe ambassadors. The ambassadors will visit the salons once a month to see how the product range is performing, check on the product placement and pricing, and gather feedback from the salon team. They will also identify training needs and promotion opportunities to optimise the success of the Curaloe range.

Curaloe’s story and its “point of difference” is their ability to use high quantities of fresh aloe liquid in their products. They can do this because the skincare range is made directly on the plantation, so they don’t have the cost of transporting the liquid that other manufacturers would incur.

However, there are also challenges. Since Curaloe has high percentages of pure Aloe Vera in its products, it is more difficult to keep the products “stable” so that they retain their vital properties throughout the period of transport, storage, and use.

In the short term, Curaloe is focusing on selling only to beauty professionals such as spas and salons, beauty therapists, dermatologists, and professional skincare advisors. Some specialists are already using Curaloe in their treatments and are

Logistics is also a challenge. Transporting a container from Curaçao to the Netherlands takes a lot longer than claimed. It is reported that it only takes a month, but in practical terms it takes two and a half to three months. That is challenging for Curaloe as it negatively impacts their ability to react to demand and forces them to forecast sales a long time in advance. Remco explains, “We have just started to export, so we don’t know yet if sales will happen quickly or if it will be a bit slower. This three month delay is very challenging and costly from a business perspective.”

Current Activities The Curaçao Ministry of Economic Affairs is assisting Curaloe with exporting to the USA, and with exporting duty free to Europe and the USA. The local government also includes Curaloe in trade missions to other countries. The Curaçao Chamber of Commerce facilitates introductions to the international community and supports the company with identifying networking channels within target countries.

Currently, the plan is to leverage the name “Curaçao” in markets where the name has recognition, such as the Netherlands. In other markets, the messaging will be much more around the pure Aloe liquid that is featured in the products.

Management is also considering a private label service, leveraging capacity from their sister plantation in South Africa. This allows larger companies that want to make the similar products under their own brand name to use the pure aloe liquid produced by the two plantations.

Curaloe is another great example of a local business that has tapped into Curaçao´s strong agricultural history to successfully build a sustainable global business. And Curaloe has the potential to help Curaçao become a health and beauty travel destination of the future.

For more information on the Curaloe go to www.ecocityprojects.com.

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6/22/15 15:18

Curaçao’s Potential for Trade Facilitation:

The Island’s Best Kept Secret “Curaçao is a place for trade; from the time of salt and slaves, to modern products and industries and knowledge… People come here for solar energy, windpower, IT connectivity, undersea cables… that sets Curaçao apart.” – Toine Knipping, CEO and CoFounder, AmiCorp TEXT NEELAM MELWANI

Despite its small 444 kilometer squared area and 153,000 population, Curaçao is, and always has been, a place for trade. Its unique location, natural harbor, diversified economy and immigrant population are all important aspects of its role as a center for trade facilitation, not only for the region, but also for the international market.

According to Toine Knipping, CEO and co-founder of AmiCorp, an international trust company based in Curaçao, there is a lot of potential that we still could tap into, and a lot of ways to improve the already promising position of Curaçao as a hub for international trade facilitation.

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What is Trade Facilitation?

Trade Facilitation is a service that can be offered by a country to assist companies in the efficient import and export of goods and services. It is a process through which procedures and controls governing the movement of goods across national borders can be improved to reduce cost burdens and maximize the efficiency of trade, while ensuring the implementation of regulatory objectives and international legislation.

With the world becoming smaller, it is increasingly important for Curaçao to utilize its assets and unique selling points to continue to diversify its economy and live up to its potential as a center for trade facilitation in the region, whether it be for physical products, knowledge exchange or services. Be it through its multilingual and multicultural population, its ideal position between North and Latin America, its natural resources, or its role as a logistical service hub, Curaçao most definitely could increase its role as a center for international trade facilitation.

Curaçao and International Trade Barriers The World Trade Organization (WTO) is the only international body that deals with the rules of trading between states. In order to do this, the WTO produces agreements that must be signed and ratified by 2/3 of its members, or the larger portion of the member states, which also happens to be the largest portion of countries of the world. These agreements are like contracts and function as the legal ground rules for international commerce, ensuring that there are some rights and restrictions placed on all countries. The main aim of the WTO is to liberalize trade, however some of its restrictions are in place to maintain trade barriers, protecting consumers, local producers and the environment, and preventing the flow of disease.

Among its agreements, the WTO has been working to refine the articles for trade facilitation in one of its main agreements, the General Agreement on Tariffs and Trade (GATT). The articles pertaining to trade facilitation in the GATT relate to the transit

of goods, fees and procedural documentation, and the transparency of international laws and regulations. The aim of these negotiations is to ease border protection and improve procedures related to the movement, release and clearance of goods.

Curaçao is represented in the WTO through the Kingdom of the Netherlands. Nevertheless, the export and import of goods is most often hindered by the excessive amounts of paperwork necessary for the importer or exporter to complete. On that note, Knipping explained that it is as important as ever for Curaçao to become more involved in international trade blocs and the international trading system, focusing on the harmonization of international trade legislation, and easing up on local legislation that may currently inhibit trade.

The Imaginary Barriers There is little to be done about the existing trade barriers put in place by the WTO, to limit trade and protect local production. However, according to Knipping, there is something to be said about the barriers that we’ve (consciously or unconsciously) created: • Local Legislation and Restrictions on Immigration: The Government of Curaçao needs to continue to work towards legislation that makes it easier for the knowledge industry to grow in Curaçao by loosening up on immigration restrictions. Essentially, any person who has sufficient funds to support him/herself (and family where relevant), should be able to immigrate to Curaçao with limited hassle.

• The Local Mindset on Competition: Local businesses should focus on improving their own business operations in order to compete better in the international market place, rather than looking towards a single competitor and competing directly with them. Local companies should set goals based on the international market.

• Playing the Victim Card: More often than not, people, the government and businesses in Curaçao play the victim card to justify their challenges or failures. Like any country in the world, there are restrictions to the situation in Curaçao, and it is important that business owners, the government and individuals stop hiding behind these barriers. Although Curaçao is a small place, and there is legislation that compromises the success of business, business owners should find creative solutions to their problem and change their mentality to help them get ahead.

The Pros and Cons of a Small Community “There are new opportunities for business in Curaçao every day. We live in an open society, where people often pass through. You are able to meet new people and there are several events, forums and activities that connect different people from different fields.”

According to Knipping, it is important that Curaçao finds a balance between protecting the interests of Curaçao’s local entrepreneurs and opening up its borders to healthy competition.

“The ‘small town mentality’ is making our world of business inefficient. Curaçao needs to open up to new opportunities and work to improve the situation of our economy through encouraging consistent and sustainable growth.”

What next?

Knipping used Singapore as an example with regards to how to tackle trade facilitation and opening up borders to stimulate economic growth. In Singapore, as long as you have the adequate resources to support yourself, you are able to enter the country and stay without too much hassle. According to Knipping, “In order to give business a boost in Curaçao, we [too] need to open up our borders. That’s the only way forward.”

When asked what Curaçao’s next step should be, Knipping explained that we really do need to focus on trade. We already have the necessary infrastructure in place to be a leading logistics

hub in the region; the harbor and airport are newly renovated, so it’s just a question of better utilizing our resources. While there are already other trade facilitation hubs in the region, they are either overburdened, lack the appropriate infrastructure, or have paperwork systems that make import and export inefficient.

In order to better compete internationally, Knipping remarked that international cooperation will be as important as ever. “We need to start working with partners in Shanghai, for example, to improve our harbor. We should also focus on starting airline travel with Middle Eastern airlines.” In order to accomplish these things, Knipping believes that we should start to look at our internal legislation, breaking local monopolies that only benefit the interests of a vested few, lower the price of doing business in Curaçao, and make business processes less bureaucratic.

The world is getting smaller, and Curaçao’s small size can be seen as both an advantage and disadvantage. In order to remain competitive in the shrinking world, Curaçao needs to create opportunities for investment and employment.

The only way forward is indeed to attract more trade and secure more sustainable capital flows.

The time has long passed to join the international trading world, and it’s time that Curaçao not only hops on the bandwagon but becomes a leader for trade facilitation in the region.

Toine Knipping

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Curaçao: A Land of Opportunity Curaçao has been a hub for international business for a very long time. It all started in the 1940s when the island developed its legislation to accommodate the formation and transfer of international companies to the island.

Through tax treaties, Curaçao became a renowned financial jurisdiction and prospered for many decades.

TEXT PRISCILLA LOTMAN AND HELEN MILSOM

Herman Behr, founder of the HBM Group, stated, “Though the benefits of those tax treaties are now a dim memory, Curaçao has been able to continuously adapt itself to meet the demands of what it means to be an international financial jurisdiction.”

The Curaçao Chamber of Commerce and Industry (CoC) provides entrepreneurs with readily available information and support on how to establish a company and meet the requirements to do so.

Additionally, businesses providing fiduciary services to international clients also assist with the formation of local and international structures, often referred to as International Business Companies (IBCs), and help obtain the required permits and licenses. This combination allows the growth of the island’s international financial sector, a key pillar of Curaçao’s economy.

The Financial Sector In a world where Curaçao competes with jurisdictions such as the Cayman Islands, Singapore, Hong Kong, and Luxembourg, the island must remain pliable enough to continuously innovate and improve its core competencies, and at the same time remain true to its nature. This is not an easy balancing act; however, it is one which Curaçao has become accustomed to. “Post World War II, Curaçao was considered a tax haven, open to those looking to ‘profit shift’ and evade their taxes. This has changed significantly in the past years.

Substance is now important and this is where we have to provide international business with additional incentives other than just a lower tax bill,” stated Behr.

“The island must remain pliable enough to continuously innovate and improve its core competencies, and at the same time remain true to its nature.”

The financial services sector on the island is used to servicing international clients while implementing strict compliance requirements enforced by local and international regulators. Policies are well structured and controlled. “Clients and investors can be assured of stability and have confidence that there are procedures in place which are governed by the local regulator: the Central Bank of Curaçao and St. Martin.

Curaçao does not have a particular differentiating factor; what we have is a combination of elements that cumulate into a business environment investors

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and clients seek,” explained Behr. He added, “We are autonomous and thus able to develop our own tax culture, however, our connection with the Netherlands ensures a stable legislative system. This is our only truly unique feature as a financial jurisdiction and it is an aspect that investors appreciate. Business ethics is imperative here.”

The Economic and Free Zones Developing areas to promote business activities is part of the larger economic plan for the island. Two of the incentives that have been developed are the Economic Zone (E-zone) and the free zones. They offer companies the opportunity of utilizing Curaçao’s infrastructure and legislative incentives, while contributing to the economic development. They are well regulated and need to comply with the policies and guidelines that are in place.

E-zone legislation provides e-commerce investors a variety of tax saving opportunities; E-zone businesses only pay 2% tax on profits if all conditions are met. “The E-zone facility is primarily an incentive policy to stimulate the local economy. Though the business activities take place abroad, the decision-making is done in Curaçao.

Through E-zones, the goods usually do not reach the island but are transferred directly to the buyer. The advanced communication infrastructure we have on the island provides companies located here with an advantage to do e-business in the region and worldwide,” commented Behr.

Curaçao has two active free zones: one in the harbor and the other at the airport. Incentives make it very appealing for businesses to operate in the free zones of their choice. Goods imported into the free trade zone benefit from no import duties. At least 75% of those goods must be exported annually and the other 25% can be sold domestically after obtaining a government permit.

Connecting Markets Despite the fact that Curaçao has historically always been a center of commerce and business between Europe and the Americas, the international financial sector has been operating independently, and has predominantly focused on assisting Dutch and US companies. Currently, Curaçao is focusing on Latin America more than ever. Its geographical location and the cultural mix of European and Latin-American nationals make Curaçao

Herman Behr

the ideal hub for international operations conducting business with Latin America. In the beginning of 2014, for example, Curaçao signed a Double Taxation Agreement (DTA) with the Republic of the Seychelles and a Tax Information Exchange Agreement (TIEA) with Argentina, showing Curaçao’s commitment to transparency and the development of the Latin American market. This year, Curaçao has made great progress with its business associations with Colombia. One recent milestone was the announcement that Colombians will no longer require a visa to visit the island, which will create more opportunities to conduct business with Colombia in the future.

“We are autonomous and thus able to develop our own tax culture, however, our connection with the Netherlands ensures a stable legislative system.“

The Future of International Business in Curaçao

Opening the Doors for New Ideas and Innovation Creating a business climate that will attract high skilled expats to the island is an important aspect for the country to move forward.

According to Behr, “Immigrants bring new ideas, they are energized and incentivized to excel; this energy, experience, and expertise, has the potential to spread and propel business upwards. However, our current immigration laws are stringent and impair the possibility of attracting highly educated and skilled workers to the island.” This is a common thorn not only for the financial sector, but also for many other sectors on the island.

Those who do navigate the long immigration process eventually contribute positively to the economy and benefit from the quality of life the island offers. According to Behr, “We need to keep our doors open for new ideas and innovation.”

We have shifted towards an industry where substance is becoming the key factor, where experienced professionals know the ins and outs of International Business Companies (IBCs), and with a legislative and regulatory environment that is compliant with The Organisation for Economic Co-operation and Development (OECD) to support it. Curaçao’s strategic location, its ties with the Netherlands, and being governed based on Dutch law, offers stability. The infrastructure regarding telecommunications is modern, as are the harbor and airport, which offer infinite possibilities of using the island as a hub. Considering these strengths, we can most certainly improve Curaçao’s position as a global player in this sector. And it is vital to the island’s economy that we do so.

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H 432-3200 • www.bancodicaribe.com

Saliña • Schottegatweg Oost 205 | Punda • Breedestraat 38 Otrobanda • Roodeweg 41 | Santa Maria • Jan Noorduynweg

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Companies in ABC islands Favor More Mutual Cooperation More mutual cooperation between the public and private sectors in Aruba, Bonaire and Curaçao (ABC), and a greater involvement of the commercial sector in relevant government policies will ultimately lead to a much stronger basis for the trade sectors in these three islands. The Stichting Economisch Onderzoek (SEO – foundation for economic research) has presented a report indicating that local merchants consider the following as obstacles to a more prosperous development: the labor market way too inflexible, the maritime transport options within the region insufficient, too much red tape to obtain necessary permits, and a lack of competition between the commercial banks. The costs of the local banks are considered much too high, in part due to foreign currency exchange expenses in international business transactions. The government agencies involved, such as those at the airports, harbors and customs are not always evaluated sufficiently. Nevertheless, the ABC islands are still gaining leverage to function as a hub between European and Latin American companies.

Master Plan for Revitalizing the Punda Area Efforts are being combined to revitalize the downtown area of Punda.

Government and private partners are aiming to revitalize Punda again as the place to go for living, shopping and visiting. A master plan for the development of Punda is in the works, with a focus of boosting the economy of Curaçao. At the same time, the cultural heritage designation of Willemstad should be well protected and become an integral part of the development of the downtown area, both to suit the tourists, and also the local population. A lot has to be done to achieve those goals, starting with the improvement of the infrastructure in the entire area, such as cleaning Punda and the water inlet of Waaigat, landscaping several areas, and creating enough adequate parking facilities.

Brochure to Explain Set-Up of Dutch Kingdom ‘One Kingdom, four countries’ is the title of a brochure issued by the Dutch Ministry of Foreign Affairs in The Hague in an effort to explain to the outside world that the Dutch kingdom consists of the Netherlands, which is part of the European Union, jointly with the autonomous countries in the Caribbean, being Aruba, Curaçao and St. Maarten, and the BES islands (Bonaire, St. Eustatius and Saba). This constellation becomes even more complicated once one tries to explain that a King is the head of state, and then his wife, the Queen, governs the overseas countries, councils of ministers, commissioners, and what have you. To make it even more complicated, as part of the Dutch Kingdom, the inhabitants of these islands also carry the same European passport as anyone living in the EU. The brochure is meant to clarify structures for whoever wants to deal with parts of the Kingdom.

Acoya Launches Private Residence Club The 10-acre ACOYA Hotel Suites and Villas in Curaçao launched the ACOYA Private Residence Club. According to founder, Mr. Mahesh Daswani, the vacation club provides opportunities for local residents to purchase shared memberships at ACOYA, which can be used for “staycations” or exchanged for travel worldwide with their partnership with Interval International, a worldwide provider of vacation services. The resort features 118, one, two or three bedroom units set around a natural lake. Members have access to the restaurant, spa, pool area, dive center, kid’s program and other amenities.

Source Amigoe Express

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Keeping Diversity In Mind Thanks to our rich cultural heritage, Curaçao has a multicultural society with people from diverse backgrounds, speaking several languages, all with a global perspective on business. This is so deeply rooted in our culture that we tend to forget the great advantages it has on our daily work-life.

TEXT LESLEY HORNUNG

Diversity is good for business Having people who can think and work in highly different ways is crucial in a competitive environment where companies need to apply their capabilities in more innovative ways, partner successfully and harness technology effectively. Diversity and inclusion in the business environment leads to more innovation, more opportunities for all, better access to talent, and therefore, better overall business performance. Companies that embrace diversity gain higher market share and a competitive edge in accessing new markets – a so called “diversity dividend,” which was first quantified in a recent study by the Center for Talent Innovation (CTI).1 Business leaders increasingly recognise this. Results from PwC’s most recent 18th Annual Global CEO Survey2 show that 85% of the CEOs they surveyed whose companies have a formal diversity and inclusiveness strategy said it has improved their bottom line. Eightyone percent of CEOs say their organisations are now looking for a much broader range of skills than in the past. And to find the skills they need, companies are searching in many more places - 78% of CEOs say their business always uses multiple channels to recruit, while 71% say they actively search for talent in different geographies, industries and demographic segments. Nurturing adaptable talent is also important: 81% of CEOs say that their business always looks to equip employees with new skills.

Keeping An Open Mind We often talk about Curaçao as a HUB for international business due to our geographical location, high-educated multi-lingual labour force and close relations with the Netherlands and the European Union. But do we actually practise what we preach when it comes to recruiting new talent and collaborating in teams? Do we leverage the power over our diversity?

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Although we can agree that diversity and inclusion are good for business, it’s not always easy to keep diversity in mind and consciously leverage the power of diversity in your team or when working with clients. In fact, keeping an open mind can be really tough. Why? Our brain operates on two levels: the conscious and the unconscious. It’s the unconscious processes that can

influence our behaviour towards other people.

This is called “unconscious bias.” Simply put, it regulates our unintentional natural preferences. This is perfectly normal and affects every one of us.

We like to think we’re pretty sophisticated decision makers, but in fact, unconscious processes play a huge role in the way we make decisions. When we’re faced with information that conflicts with our expectations, we’re more likely to reach to the wrong conclusion. This also happens in our relationships with other people. We have expectations that people from particular backgrounds will behave in particular ways, expectations that are generated from both social and neurological programming. You can see how this could become a challenge when working in a business environment with people from all sorts of different backgrounds, who all have their own cultural behaviours and traditions. We pay most attention to behaviours that fit with our expectations and we tend to ignore behaviours that contradict them. This is known as confirmatory bias and is one of the reasons why stereotypes are so persistent. When we recognize that someone is behaving in a way that is different to our expectations, we tend to explain that behaviour by linking it to that particular person.

with formal talent strategies already in place - more than 90% - said they’re addressing dimensions that are, in one way or another, observable: gender, knowledge/skills/experience, ethnicity/nationality, age, disability, and religion. By contrast, only a small number are addressing dimensions that are unobservable. Less than 6% said their diversity and inclusiveness strategy specifically addresses people who have different personal qualities like mind-set, people skills or adaptability.

Very few CEOs are looking to enhance dimensions of diversity that fall outside conventional modes.

should deliberately look for non-observable dimensions of diversity when assembling teams and recruiting new talent. Our local labour market already offers such a diverse pool of talent; all we need to do is acknowledge the power of our diversity and leverage our skills to become an even more inclusive HUB for international business opportunities.

1

Source: recent study by Center for Talent Innovation:

http://www.talentinnovation.org/publication.cfm?publication=1400 2

Source: PwC 18th Annual Global CEO Survey:

http://www.pwc.com/gx/en/ceo-survey/2015/

The bottom line of creating a more diverse and inclusive workforce in our local marketplace is to intentionally start using the diverse skill sets we inherited from our rich cultural history. At the same time, we still need to be aware of unconscious bias processes. We

key-findings/diversity.jhtml

The busier our brain becomes, the more likely we are to rely on unconscious processes, which can result in bias conclusions. When we’re juggling lots of information, working on different projects, or involved in back-toback meetings, our unconscious processes are more likely to kick in and relieve some of the pressure from our conscious processes. But our unconscious processes are more likely to introduce error based on assumptions. That’s why giving yourself enough time to make decisions accurately is one of the best ways we can make sure our decisions are genuinely objective.

Digging Deeper The above explains how our unconscious processes affect how objective we can be. These processes are completely natural – everyone has them – but they’re also the reason why we need to be mindful when dealing with people.

Not all advantages of diversity are observable.

If we dig a little deeper, we can see something else going on. The large majority of CEOs

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Creating Opportunities For Unemployed Youth Using the name Reinfoke, which means redirect, a group of unemployed youths in Curaçao are getting the necessary guidance to prepare them for a job in a number of businesses. The intent of this program is to create sustainable jobs for young people who have registered for this intensive training. This is based on an agreement signed with a group of participating companies, and the intention is that more employers will follow suit. In 2013, a pilot project was launched and its results provided a good breeding ground to continue on this path. A majority of the young people from that first group who completed the training now have a permanent job.

Curaçao Businesses Can Join on a Mission to Cuba The Dutch minister Lilianne Ploumen of Foreign Trade and Development Cooperation will head a Dutch trade mission to Cuba in early 2016. Considering that Cuba and the Netherlands are practically neighbors in the Caribbean, thanks to the presence of the ABC islands, she explicitly commented that companies from Curaçao should also participate. The Dutch state secretary brought this up in a conversation with Cuban Minister Bruno Rodríguez Parrilla when he was on a working visit in The Hague. Ploumen will personally lead the mission, with good timing now that Cuba’s economy is in motion and economic changes are rapidly developing in that country.

She is working on improving the trade relationship between the Kingdom and Cuba.

Rules for Loan Sharks are Tightened At the request of the Consumer Foundation, on May 1, 2015 the Central Bank of Curaçao and St. Maarten declared new rules for individuals who provide short-term loans at high interest rates, usually to low-income people. There were already rules in effect for these “loan sharks,” but now they have been further tightened to protect the loanees as much as possible. This is a first step in the direction toward an intensive monitoring of this group. In addition, by January 1, 2016, limits will be set on the level of interest rates that they may charge. The new rules are also applicable to those who issue “vouchers.” Vouchers are given to impoverished people who are in urgent need of a sum of money that they have to pay back double the value. The authorities also want more transparency in these transactions, in the background and the methods of the lenders.

Children Provide a Fresh Look at Curaçao Tourism The first Curaçao Board of Children presented its advice on tourism at the Avila Hotel in the presence of Princess Laurentien, and representitives from travel company, TUI and the Curaçao Tourism Board. The students of St. Paulus College visited more than twenty locations and agencies, such as hotels, the airport and the police, to discuss their involvement in tourism, with the goal of making recommendations for the future of tourism on the island to TUI. Princess Laurentien, with her organization, Missing Chapter, has been involving children in business-related decisions, with the belief that children should think about their own future. In the Netherlands, 21 companies have already been advised by a Board of Children, and that number is growing. The Princess hopes that this first move will inspire other companies on the island to set up a Board of Children. Source Amigoe Express

Investing in Dutch kingdom Easier During the Kingdom Conference, which was held on June 16, 2015 at Santa Barbara Resort in Curaçao, with participation of delegations of the Netherlands, Aruba, Bonaire, St. Maarten and Curaçao, Minister of Economic Development of Curaçao Stanley Palm launched a website to promote investment in the different parts of the Dutch kingdom. Via www.investdutchkingdom.com, interested parties can obtain very basic information on investment opportunities in the European and Caribbean parts of the kingdom. It also gives an inside view of the economic dynamics of the various countries and islands. By joining forces, the internal relations within the kingdom radiates a positive image of each of the individual elements.

The website also provides the possibility of keeping interested parties informed about the latest developments.

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Crowdfunding Ambassadors As a business innovator, I am always interested in finding new ways of inspiring creativity and transforming ideas into concepts and business propositions. Thomas Edison once said, “Innovation is 1% creativity and 99% perspiration.” You will perspire a great deal to obtain the financial means to either start your business, finance the growth path you believe in, or fund the innovation you so creatively think the world cannot live without.

“Concerned citizens of the world have diminished trust in traditional monetary systems; new ways of creating value and investment opportunities are part of alternative business models.”

TEXT GONNEKE VAN DEN KIEBOOM

Luckily, there are various ways of getting financial support for ambitious entrepreneurs: banks, Korpodeko, investors, and crowdfunding. In crowdfunding, there is a transaction between the fund-seeking initiatives and the backers that support the project financially; they essentially exchange value, in some form or another. Backers receive rewards, either as a tangible product,

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have influence in the development of the project, are involved in co-creation of the product, or receive a service in return for their contribution to the investment capital.

Crowdfunding has recently been carefully explored by initiatives on Curaçao and other islands of the Caribbean by making use of

online international crowdfunding platforms, such as kickstarter.com, indigogo.com and rockethub.com. Revive Gomezplein, I-Animal, and Curaçao Winery are the first three initiatives in Curaçao that have received international media attention.

Broadening Business Horizons Concerned citizens of the world have diminished trust in traditional monetary systems; new ways of creating value and investment opportunities are part of alternative business models. Small economies like Curaçao are wise to keep up with these developments.

Crowdfunding broadens business horizons and opportunities; any registered company, foundation, or enterprise can start its own crowdfunding initiative. Through the available platforms, there is a world of individual and institutional investors to appeal. Someone might see your pitch as far away as Australia, Iceland, or as close as Janwe. Some crowdfunding sites require European, US, or Canadian liaisons or registrations, so check to be sure your project meets the requirements.

Thomas Edison once said, “Innovation is 1% creativity and 99% perspiration.”

The Creative Lab Curaçao team, which initiated Revive Gomezplein, shares a few lessons learned: • From a social media perspective, 3000+ people “liking” our project showed us that people do want Punda to be revived and see Gomezplein as a natural starting point, however, likes on Facebook do not necessarily convert to money on the counter.

• Although we freely use our credit cards to shop and vacation, Curaçaoans are still reluctant to buying online.

• A crowdfunding initiative is a multi-media, multi-disciplinary, multi-talent effort. The team consisted of twelve people, ranging from architects, a communication strategist, art directors, an illustrator, a social media specialist, and a business development professional.

• There is a lot of hard work involved in putting together a crowdfunding project; most of the work (two-thirds of it in this case) happens before the real campaign begins.

If You Fall, Brush Off and Start Again No one has ever learned to walk without falling down and bruising him or herself a couple of times and it’s no different with crowdfunding. If you’re not able to convince enough people of the importance, the fun, or the indispensable, you will not receive adequate funding. It’s a democratic process. However, if you strongly believe in your concept, your idea, your business plan, or your cause, it will receive support from the crowd and you will succeed, gaining not only funding, but also a group of loyal fans, ambassadors, and backers for your goals, passion, and dreams.

Gomezplein Crowdfunding initiative “Revive Gomezplein” focuses on a broader societal perspective by focusing on the need for more generational cohesion, the value of our inner city monumental heritage, and the cry for innovating Punda from new perspectives, with Gomezplein as the starting point.

The hard work paid off for this project.

Besides media attention and creating new and positive awareness for future of Punda, they earned over ANG 30,000 towards their ANG 85,000 (38,500 euros) goal budget on kickstarter.com. Though they didn’t reach their goal budget, they are confident that crowdfunding is a transparent way of involving the public, provides a shift from being dependent on old economic business models, gives individuals a share in projects they think are important, innovates the investment culture on our island, and stimulates new possibilities for many small businesses.

Creative Lab Curaçao believes that innovation means trial and perseverance, so they are planning the revival of Revive Gomezplein in August/September 2015.

Circular Economy Crowdfunding is a revival of “power to the people,” and it’s a clear example of the circular societies that are conquering significant economic terrain. Crowdfunding is a win-win opportunity - mutually beneficial to the funding crowd and also to the initiator, either by investing, becoming part of the movement, getting a share in innovation, or organizing the necessary funds for the development of the fantastic business concept. Curaçao Winery understands this international reciprocal shift in power. Backers buy the whole winemaking process and in return become part of the very first winery ever in the Caribbean. How inspiring is that? These backers own one or several wine stalks and have a claim to the wine produced from these stalks. They can visit their vineyard, stay in the bed and breakfast, and bring home their case of 2016 Chateau Curaçao.

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Practicing Mindfulness in the Age of Complexity From Silicon Valley technology companies to New York-based investment firms, terms such as mindfulness, conscious decision-making, emotional intelligence, and self-awareness are making their way into the daily jargon of employees, CEOs, and entrepreneurs. It is a new trend that pushes us out of the old notions of pure productivity (to work fast and think fast), towards the knowledge-based economy of self-transformation and disciplined passions. Whether it is a meditation session or the examination of our underlying assumptions, there is a new wave of minding your business and it involves your consciousness.

TEXT PRISCILLA LOTMAN

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“The way that we speak about mindfulness in the present day has become something its originators might not recognize,” said Tomas ChamorroPremuzic, psychologist at the University College, London. Google “mindful business” and you will be directed to websites on meditation, how to do yoga at the office, and the book Mindful Leadership: The 9 Ways to Self-Awareness, Transforming Yourself, and Inspiring Others. These things are all important; however, the overall consensus amongst writers, researchers, leaders, entrepreneurs, and practitioners is that it is much more than a one week retreat or a single meditation session. Mindfulness, especially in your business, is about an approach and a lifestyle.

“Becoming more mindful takes hard work and discipline, and these things are not really valued by our fast-paced culture that favors instant gratification,” wrote Alice G. Walton in her article on the subject for Forbes magazine.

Technology and Focus The most onerous challenge any entrepreneur faces is to stay focused. In today’s technology-oriented world where persuasive images, countless e-mails, blinking advertisements, and tweets and bleeps battle for your attention, it is imperative that you find your personal path to staying focused. “It is the main challenge people face today,” said Toine Knipping, founder and CEO of Amicorp, and writer of the book Mind Your Business: Thoughts for Entrepreneurs. “Without discipline, people start compromising and that is probably the worst thing you can do, simply because compromise deludes quality and it deludes your ideas. Don’t compromise, not in business and not in your hobbies,” stated Knipping.

“In a logical world, technology would make us work less not more, because technology helps us identify and solve problems quicker, and it gives us more freedom and flexibility.”

the stakeholders benefit from your business, and focusing on both the material and the immaterial sides of running a company,” said Knipping. Entrepreneurs are naturally preoccupied, thinking about their company and planning ahead, and it is within this space that they need to take a break and consider the path they are taking for their company.

“The success of mindfulness might mean different things to different people.”

The Vision The success of mindfulness might mean different things to different people. However, there are claims that it promotes psychological flexibility, awareness, resilience, better decision-making, improved job performance, reduced absence rates, and the ability to learn new tasks. No wonder businesses are interested. This is not “new age psychobabble” or a cure for some type of disorder. It is a process to improve your life and your company environment - and it is hard work. “You need to be mindful of [your vision] and not be distracted by business plans, forms, procedures and the like, and you need to work hard at it. You need to be fully present with your business and you need to be completely intentional about what you do. You also need to be generous, everything you give away you receive again in threefold. Many people do not believe this,

but it is definitely true,” concludes Knipping.

Any intervention that could help with the daily stresses of running or managing a business would be impressive. Incorporating the principles of this new way of running a business comes natural to some, especially the younger generation, although for others there is a learning curve. Yet, countless companies have proven that self-awareness and mindfulness are good for business and that it contributes to the overall performance of the company.

Thus, whether you introduce daily, ten-minute meditation sessions at the office, speak openly about conscious decision making with your colleagues or employees, and/or turn off all that technology for a moment of focus every day, you are well on your way to becoming more mindful in your daily operations.

We’re all stuck to technology, and wanting to take a step back for a bit of peace and quiet is understandable. According to ChamorroPremuzic, “In a logical world, technology would make us work less not more, because technology helps us identify and solve problems quicker, and it gives us more freedom and flexibility.” This means that is it also more difficult to switch technology off and to be mindful when you need some quiet time to make conscious decisions. You are mindful when you become aware of yourself and your surroundings, when you do not react on autopilot and by not labeling or judging.

Mindfulness enhances emotional intelligence, notably self-awareness and the capacity to manage distressing emotions.

Applying this to your company can lead to significant psychological and physiological benefits. “Ultimately you should be aiming for a holistic way of running your business creating win-win situations, ensuring that all

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Curaçao: Building the Logistics Hub of the Caribbean Ever since Europe discovered the Americas, the islands of the Caribbean have acted as a gateway between the new continent and the old: the Western world’s original hub of commerce and logistics. No other island exemplifies this as perfectly, or as powerfully, as Curaçao. When the Dutch occupied the island in 1634, they acquired more than just a harbor and salt, they gained entry into the Spanish-dominated trade with South America. Trade shaped Curaçao’s past, and it holds the key to our future.

TEXT GUILIE CASTILLO

The natural harbor, second only to Rotterdam within the Dutch Kingdom, as well as the recently modernized facilities at the airport and the e-zones, all contribute considerably to the island’s appeal as a logistics hub. But what makes Curaçao unique is a rare combination of factors:

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• A European-standard legal system provides a solid base for corporate management.

• A sophisticated financial industry sector guarantees quality in fiduciary, administrative, advisory, and banking services.

• Treaties and benefits, available to Curaçao through the Netherlands, signify a worldwide reach: the EU’s Overseas Countries and Territories (OCT) arrangement provides direct access to the EU market and its 360 million consumers, and the 1990 Caribbean Basin Initiative (CBI II) allows many Curaçao exports duty-free into the US. • Most remarkably, from a global perspective, the island offers human resources of extraordinary skill and education who are not just multilingual but multicultural.

This singular blend of attributes is the reason Curaçao is teeming with opportunities, particularly in the logistics sector. In an atmosphere of such promising potential, the financial assistance offered by the Foundation for the Development of the Logistics Sector (Stichting Ontwikkeling Projecten Logistieke Sector), or SLS, as it’s more widely known provides a timely boost. SLS funds projects that have the potential of significantly impacting the logistics sector of Curaçao.

SLS aims to achieve three main objectives: • Improve the conditions in Curaçao by aiding in the development of a sustainable economy.

• Support the development of infrastructure specifically focused on the harbor, airport, and e-zones.

• Perform feasibility studies and prepare implementation plans geared toward the development of targeted projects in above mentioned areas.

Over the past five years, singly or as part of an investment group, SLS funded pivotal undertakings for the expansion of the island’s logistics sector: • Curaçao’s participation in the Intermodal trade show of Sao Paolo (Brazil), the largest exhibition in the international logistics sector, for three consecutive years. Curaçao was the only Caribbean island to participate.

• I nternational promotion to aid CARIX, the Caribbean Internet Exchange, in attracting international exchange traffic to Curaçao. As a result, significant new business came to the island, and the local community gained benefits in terms of bandwidth and internet speed and performance.

•A study to determine the feasibility of dehydrating distilled ethanol in Curaçao for US import.

•C ommissioning of Dutch experts to research EU requirements for importation of meat products from third-world countries in order to determine the feasibility of processing said

Intermodal 2013, in São Paulo, Brazil

products in Curaçao for export into Europe.

• Feasibility studies, planning, financing, design, and development for the second Megapier, as well as land improvements.

• Improvements in immigration and border control tasks at our airport, with the goal of

gaining effectiveness in safety and security protocols as well as achieving higher customer satisfaction ratings.

• Provided help in funding a Tier 4 data center that recently opened its doors.

Some of Curaçao’s most competent professionals and representatives of the island’s logistics sector sit on the SLS Board: two members each from the Curaçao Chamber of Commerce & Industry and from Korpodeko, and one each from Curinde, Curaçao Airport Holding, and Curaçao Ports Authority. These seven members meet once a month, and as part of their agenda they review funding requests. The criteria to determine which will receive SLS support are strict, but simple: the project must be in line with the SLS mandate to contribute toward logistics development on the island.

If you have a project that meets SLS requirements, you may qualify for funding.

Requests are available through SLS coordinator Ms. Kirsten Römer at kirstenr@curacao-chamber.cw.

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Catering:

Health Boost Or Hazard?

The employer is responsible for the wellbeing of his employees. This means that the working environment should not pose any dangers to the physical or mental health of the staff. The work station must be ergonomically sound, the climate must be appropriate, stress should be avoided, et cetera. Many bosses go beyond the necessary facilities and supply their people with additional perks, like recreational facilities – and good food.

TEXT HANS HOOFT

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Working days can be long, strenuous and tedious. These hard hours can be interrupted by breaks, and they should be. But many workers skip those breaks, or spend them at their work station, sitting down. This has caused many physical problems, because people get too little exercise.

It is even said that sitting is the new smoking: detrimental to your health. Of course, this should be amended: sitting too much and too long is bad. So stand up, go to the coffee corner and take a break. And do not fetch coffee for your co-workers – you deprive them of their own, necessary exercise. And when lunchtime comes around, do not eat your sandwich at your desk, but go for a walk – after you have had a healthy lunch in the cafeteria.

Bite The problem with many (office) workers is that they are worried about the conditions on and around their work stations, but care less about the food and drinks they consume during their work days. In colder climates, it is reasonable that coffee or tea is the preferred drink, but warmer conditions require a different approach. Okay, you say, but water is just water, and tastes of nothing, really. You want something with a bite, so you take a soda drink. But do you realize how much sugar such a drink contains? Something similar can be said about food: the sandwich with a slice of cheese can get quite boring. So in the cafeteria, people usually go for the more tasty foods, the snacks. Understandable, but healthy?

Obesity Every once in a while, we are presented with a new, ‘revolutionary’ diet that claims it will make us slimmer, healthier, et cetera. And that you do not have to stop eating, you will never go hungry. Particularly in the United States and Great Britain, but in many more countries, obesity is becoming a serious problem. But being overweight is not necessarily an indication of bad health. People can have a few extra pounds, but still be quite healthy and even fit.

The human metabolism sometimes works in mysterious ways. Deep in our minds, we know that there is only one way to lose weight: eat less, and exercise. Still, there is something that should be added to this adage: know what you eat! So eat and drink better. And because we spend a third of our day at work, and take at least one meal there, in addition to what we grab during the various breaks, it is important that what you consume should be good for you – in more than one way: healthy and nutricious.

And that is where the employer enters the game: he is the one who decides which foods and drinks can be had in the corporate cafeteria. But the workers have a say in this: usually, they have a say in what is on offer, and if they do not like what they are offered, they will not take it. And revert to the sandwich-andcheese, or they find their lunch elsewhere. For instance at the retailer with the large yellow M – although this global player has also felt the change, and now offers more healthy food like salads.

Certified caterer Of course, something can be said in favor of ‘eating out’ in lunchtime, like: you get some exercise (you have to walk to the fastfood restaurant), and you get out of the office which will refresh you, and may even boost your creativity. But is far more preferable when the employer provides good foodstuffs in the cafeteria. And because he is responsible for his

personnel, the food and drinks on offer should be healthy. The best a company can do, is engage a certified caterer. Such a company can deliver the best foods and drinks, anything you want, and take care of all that is necessary to provide a good meal. And yes, this implies costs, but you get a lot in return.

Unfortunately, many employers still decide on price, instead of looking for the best solution to the health problem. They do provide their people with ergonomically adequate facilities (these can be seen and felt), but do not consider their staff’s inner health in the long term. In the battle for talent, having the food and drink catering arranged in a sustainable manner can even be decisive to attract the high potentials.

Positive effects Many companies now claim they operate socially responsible, they reduce waste, support social projects, work mainly digitally instead of consuming reams of paper, et cetera. But they forget the positive effects food can have on people: if they feel better (because they eat better), they are more productive. On the other hand: if in every break of their work day they stuff themselves with snacks, munch candybars and drink cokes, their bodies need to recuperate from these attacks – which affects their performance.

CURAÇAO BUSINESS

| NUMBER 3 | 2015

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Business Book Review

Talk Like TED: The 9 Public - Speaking Secrets of the World’s Top Minds Regardless of whether you work in a company or run your own business, being able to present your ideas in a compelling manor will help you succeed.

This book is not just for the sales and marketing folks.

Powerful presentation skills are essential in every part of business, including: IT, customer relations, HR, legal, operations, finance, and administration, because at some point everyone, yes everyone, will need to present an idea, or will be asked for their input. Your ability to present your thoughts and ideas in a persuasive way will bring success sooner.

This book gives you essential tips to achieve that.

The author has analyzed hundreds of TED Talk presentations and broken the elements down into key areas of focus, so that you, as a presenter, can incorporate the tools into your presentations and make them amazing.

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CURAÇAO BUSINESS

| NUMBER 3 | 2015

As the author presents each of these insights to you, he provides many examples of how these tools have been applied.

I personally found it helpful to have an iPad near by so that I could quickly view the talk being referenced, and see the insight in action.

From “Unleash the Master Within” and “Deliver JawDropping Moments” to “Stick to the 18-minute Rule,” Gallo provides a step-by-step method that makes it possible for anyone to create, design, and deliver a TED-style presentation that is engaging, persuasive, and memorable.

With these techniques you will inspire any audience and achieve your most audacious goals.

Reviewed by Katy Branum