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Grassalco restructuring plan approved

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The government has approved the restructuring plan of Grassalco NV. This decision was taken during the government council meeting. The cluster team, which was appointed by the government to guide Grassalco in the restructuring process, will continue to exist. This team will report to the government on a monthly basis on the implementation process of the restructuring plan.

Minister David Abiamofo recalled that the government has been working on getting Grassalco back on his feet for some time now. The company had previously presented a restructuring plan to the government, which was not entirely accepted. A cluster team of ministers was then appointed to guide the company in the restructuring process.

Ministers Abiamofo is part of this team together with his colleagues Silvano Tjong-Ahin of Spatial Planning and the Environment (ROM), Albert Ramdin of Foreign Affairs, International Business and International Cooperation (BIBIS), and also Minister Armand Achaibersing of Finance and Planning. Minister Abiamofo said that it was a long and instructive process with Grassalco. However they were able to assess that plan which the government has made a decision of approving.

According to the minister, the document is subject to approval, because the government or the cluster of ministers wants to remain involved in the implementation of the restructuring plan. This means that they don’t leave the company alone, but want to be informed in every step that will be taken in the implementation phase. The cluster team will report on this to the government council on a monthly basis. The government council also considered the status of the plant propagation company InVitroPlants as a subsidiary of Grassalco. The intention is for the Ministry of Agriculture, Livestock and Fisheries (LVV) to become more involved in the activities of this company. Work will be done on a Memorandum of Understanding between Grassalco and the Ministry of LVV. Minister Abiamofo said that this is to ensure that all knowledge in Suriname is bundled in order to offer this subsidiary a better future. They also want to see a good picture of the company’s income and expenses, especially when the company now has decided to outsource production in a bit. They want to see a clear timeline of when the company will be in the blue. All in all, they are satisfied.





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