This document summarizes a lunch meeting between knowledge exporters in Curacao. The group has been meeting since 2006 to share experiences. They discussed opportunities for Curacao to export knowledge in industries like IT, healthcare, education, and more based on the country's multilingual people and international networks. To develop the knowledge export industry, they proposed fiscal incentives, business support, financial assistance, and promoting confidence in Curacao-made services. The overall goal is for Curacao to capture a disproportionate share of revenues from developing new markets through knowledge and expertise.

1. Furthering
Curacao Knowledge Export
Lunch hosted by Maduro & Curiel’s Bank N.V.
Host: Ronald Gomes Casseres
Prepared by:
Tamira La Cruz, MBA
(with input from Clark Russel, Jacques Heide, Tom de Windt, Ronald
Lieuw Sjong, Jeroen Kibbelaar, David Blankhart)
31 October 2008

2. Background
► A group of Curacao-based knowledge exporters has met
on and off to exchange experiences since 2006
► The idea for the lunch came about after a conversation
between Ronald Gomes Casseres and Tamira La Cruz.
► The lunch was also attended by
Chamber of Commerce (John Jacobs)
VBC (Johan Lieuw)
Secretary of State Alex Rosaria
Representative of the Commissioner of Economic Affairs, Ramon
Chong
► The next steps have not yet materialized

3. “Globality:
(everyone) competing with everyone
from everywhere for everything”
Hal Sirkin

4. Quote (1)
“The wealth of a firm, and of each nation in
which it operates, largely depends on its
role in creating tomorrow’s markets and
its ability to capture a disproportionate
share of associated revenues and profits.”
Which can be used for the development of its
people.
Competing for the Future, Hamel & Prahalad, 1994

5. Quote (2)
“Each of these opportunities is inherently
global. No single nation or region is likely to
control ALL the technologies and skills
required to turn these opportunities into
reality.”
Every nation has a chance. We do too! We
must choose where we can succeed.
Competing for the Future, Hamel & Prahalad, 1994

6. Why Curacao knowledge - product
► Unique marketable knowledge products/services (not
based on fiscal programs)
► A different approach and solutions
We are Dutch they are English
We are more exposed to Europe/US
Eastern Caribbean looks to UK & Canada. We look to
Holland & US
► “Western” organizational skills and sophistication

7. Why Curacao knowledge - culture
► Diversity: we are multilingual, multi-ethnic (including
immigrants), multi-adaptable
► We can bridge the Caribbean multilingual gap
► Large international network (incl non-English speakers)

8. Why Curacao Knowledge - market
► Caribbean has size (14million+), income and growth
potential
► The region has similar industries (in the same sizes)
► Same time zones
► Since our labor costs have always been higher, we have
been forced to be more efficient
► All islanders, including our neighbors, think that what
comes from abroad is better. That includes what comes
from Curacao

9. Opportunities industries/fields?
► IT & Telecom (ICT)
► Health/medicine
► Marketing
► Renewable energy
► Hospitality (training, systems, franchisable services, etc.)
► Environment (sustainability)
► Education (languages, international)
► Heritage conservation (monuments, parks, etc.)
► Knowledge (Intellectual Property/Training/workshops)

10. What is needed?
► FiscalActions
► Economic Actions
► Business support
► Financial Actions
► Everybody else

11. Fiscal Actions
1. Fair taxation to acquire knowledge abroad
► at least 100% deductibility (not 80% for travelling, lodging, etc.) or fixed
etc.)
deductibility
2. Tax credit for investment in human capital and R&D
► comparable to credit on capital goods
3. Tax incentives for knowledge export promotion
► T&T gives 150% deductibility
4. Simple E-zone type export profit tax incentives
► automatically claimed on tax return
5. Eliminate OB between knowledge workers
► Encourages bigger and better quality execution through cooperation
cooperation
6. Expand sectors which qualify for expat status
► Include knowledge other than finance, oil, etc., especially growth areas
growth
7. Faster expat-status approval
8. Cheaper air-connectivity to selected markets
► through 150-200% tax deductibility
150-
9. Better air connectivity to potential markets
► Offset long travel time by taxation on days worked in Curacao only- Belgian expat
only-
model

12. Economic Policy Actions
1. Incentives to groom local talent to work in international services
environment
2. Facilitate import of foreign talent to reach a good mix of
local/international talent
3. Expand sectors which qualify for expat status
► Include knowledge other than finance, oil, etc., especially growth areas
4. Support to
► register/patent innovations
► acquire international certifications
► register with international consulting databases
► speak and publish internationally
► develop franchisable (hospitality) services
5. Make it easy to know what one needs to start a company
6. Brainport (knowledge exchange center) – determine which aspects are
“des overheids” and if/how “overheid” can finance this long-term

13. Business support
1. Product development support
► To register/patent innovations
► To acquire international certifications
2. On-the-go support
► To find international knowledge alliances
► To find temporary offices/meeting places abroad
3. Marketing support
► To register with international consulting databases
► To speak and publish internationally
► To develop franchisable (hospitality) services

14. Financial Actions
► Loans or credit for regional knowledge assignments
abroad
► No hassle insurance for regional knowledge
assignments abroad (exportverzekering)
► Factoring of regional assignment invoices
► Affordable liability insurances

15. Everybody else
1. Confidence in “Made in Curacao”, not just subsidies and
incentives, but buy from us, invite us to tender. This enables
specialization/experience, a key to exporting knowledge
2. Local representatives of multinational firms/organizations can
propose local knowledge providers for regional engagements
(projects, presentations, publications) of their firm/organization
3. Suppliers (banks, accountants, etc.) that understand the needs
of a knowledge exporting business and can help us think

16. Tamira La Cruz, MBA
MarkStra Caribbean
www.markstra.com
tlacruz@markstra.com
t (599-9) 767-3085