Belize’s natural resources and strategic location provide diverse opportunities for investors seeking to capitalize on investments focused on quality and sustainability. Belize offers an ideal marine environment that has bolstered continued growth and diversification in the fisheries and aquaculture industry. Being located only 2 hours away by plane from the US and other key Central American and Caribbean markets has enabled the industry to supply fresh products on a weekly basis. This continues to provide many benefits to the industry’s continued development, allowing Fisheries an income earnings contribution of up to 1.2% of Belize’s Gross Domestic Product (GDP) in 2017. Currently, the Fisheries and Aquaculture industry employs 1% of the labour force in Belize, totalling approximately 1,581 individuals with a multitude of indirect employment opportunities (Statistical Institute of Belize, 2018). Presently, capture fisheries species include Spiny Lobster, Queen Conch, Sea Cucumber and Finfish; while culture species include Pacific White Shrimp, Nile Tilapia, Cobia (Mari-culture) and emerging opportunities in seaweed farming.
The Belize Training and Employment Centre (BTEC), a unit of BELTRAIDE , has successfully completed another Job Preparedness training in Belize City
Participants were trained for three weeks; of which the the first two weeks covered soft skills such as professionalism, resume building, communication skills, conflict management as well as customer service excellence. In the final week of training, participants parted into their technical groups of Event Planning and Nail Technician which were facilitated by Mr. Jaime Correa and Mr. Rasheed Jeremy Carballo respectively.
Today, a certificate ceremony was held at the Belize Training and Employment Centre to celebrate the accomplishments of the 37 participants.
The Belize Training and Employment Centre, and in extension, BELTRAIDE, remains committed to developing a cadre of marketable, self-sufficient individuals who can confidently compete in the marketplace and sustain a quality workforce.
The Belize Training and Employment Centre (BTEC), a unit of BELTRAIDE , in partnership with the Independence High School, has successfully completed a Job Preparedness training in Independence Village.
Participants were trained for three weeks of which the the first two weeks were facilitated primarily by BTEC staff and covered soft skills such as professionalism, resume building, communication skills, conflict management as well as customer service excellence. In the final week of training, participants parted into their technical groups of Waitstaff and Basic AC Repair which were facilitated by Mrs. Vanita Bardalez and Rudel and Danilo Coc respectively. To celebrate the accomplishments of the 25 participants, a certificate ceremony was held on August 6, 2019 in the Independence High School Auditorium where participants were awarded certificates of completion in their respective fields.
The Belize Training and Employment Centre and in extension, BELTRAIDE, remains committed to develop a cadre of well-trained, marketable and self sufficient individuals that can confidently compete in the marketplace.
Due to a plethora of competitive advantages, Belize has proven to be one of the most attractive nearshore and offshore destinations in the region. Since the establishment of the first Call Center in 2005, the Offshore Outsourcing Industry has experienced unprecedented growth in the form of an 80% industry increase, and the subsequent opening of approximately twenty four (24) active centers to date offering services in predominantly Business Process Outsourcing (BPO), Knowledge Process Outsourcing (KPO) and other emerging industries in Belize such as Information Technology Outsourcing (ITO).
Several competitive advantages in the form of low Average Cost of Labor and Commercial Space are some of the key underlying factors that propel the industry forward.
The Average Cost of Labour stands at $2.50 USD an hour at entry level, and $5.00-$6.00 USD at supervisory level. It is important to consider, however, that according to the Labour Laws of Belize, the cited minimum wage stands at $1.65 USD ($3.30 BZD) an hour.
The continued development of this industry is strongly supported by the Government of Belize (GOB) through the competitive applicable incentive programs, specifically in the form of the Designated Processing Areas (DPA) Program, tailored for companies that engage in IT Enabled Services including other Industries. The DPA provides select tax exemptions for development for a period of up to ten (10) years. Benefits applicable to the Offshore Outsourcing Industry under the program include the following:
- Exemptions from Custom and Excise duties and taxes on imported goods. This includes General Sales Tax, Environmental Tax and Revenue Replacement Duties;
- Exemption on Property and land tax on designated area;
- Exemption from Trade License;
- Eligible to maintain a foreign currency account in a domestic or international bank that is located in Belize.
This incentive is also complemented by training support offered by the Belize Training and Employment Center (BTEC), a unit of BELTRAIDE that offers support in the form of market-driven training and recruitment.
For more details on investment opportunities in Belize’s Offshore Outsourcing Industry, please feel free to contact our team at BelizeINVEST, a unit of BELTRAIDE!
14 Orchid Garden St.
City of Belmopan
Belize’s Agribusiness and Agro-Processing sector is strategically positioned to offer high quality goods primarily catering to niche markets. Belize’s rich natural resources inclusive of its high availability of arable land (1,998,230 acres), with its location not being within the high hurricane landfall probability belt, offers an ideal location for agribusiness investments. The country’s advantageous position for organic and eco-labelled production, abundant pool of skilled workers, stable foreign exchange rate, welcoming investment climate, and preferential market access to major world markets offers enticing opportunities for Agriculture investments.
Historically, Belize is known for the production and export of traditional crops primarily: Sugar, Citrus and Bananas. These major crops have been the foundation of the Belizean economy since the 1800’s. The main export markets for these products include the European Union, USA, UK, and CARICOM. According to the Statistical Institute of Belize (SIB), the Agriculture industry contributed 11% to Belize’s Gross Domestic Product (GDP) at current prices in 2017, and generated a total of USD $197 million in export revenues in 2018. This vital sector employs an estimated 23,500 persons, equivalent to 14% of Belize’s total labour force (Source: Statistical Institute of Belize, 2018). Statistics continue to show that Belize’s agricultural sector sustains its steady growth.
Belize’s close proximity to the North American, Central American, South American and Caribbean markets offers easy access to top markets. The country benefits from preferential trade agreements with: the European Union, CARICOM nations, USA, Canada, and Guatemala. The Government of Belize continues to strengthen its international relations in an effort to expand its avenues for trade. Moreover, the Agribusiness and Agro-Processing sector is strongly supported by the Government through attractive investment incentives for farming, production and exporting. The investment incentive programs available to support this sector include the Fiscal Incentive (FI) and the Designated Processing Areas (DPA) Programs.
The country’s advantageous Agricultural position allows for endless possibilities for investment. Some of these opportunities include but are not limited to the following:
- Raw Produce Production – traditional or non-traditional agro-produce;
- Organic Raw Produce – through hydroponics or other methodologies;
- Value-addition – through agro-processing of raw agricultural commodities including aquaculture (ready to cook) and livestock (beef/mutton);
- Biofuels – for power generation, ethanol or bio-diesel from agro-produce;
- Input Material Production – e.g., organic fertilizer, packaging materials, etc.;
- Storage and Export-Handling Facilities – for agro-products (mobile and fixed);
- Transportation and Delivery of end produce to consumers (local and export).
Other Investment Opportunities Include:
|Valued Addition||Emerging Opportunities|
|· Cocoa Powder||· Coconut|
|· Organic Chocolate||· Vanilla|
|· Scrubs and Soaps||· Spices|
|· Cacao Liqueur||· Pumpkin Seeds|
For more details on investment opportunities in Belize’s Agribusiness & Agro-processing sector, contact our team at BelizeINVEST, a unit of BELTRAIDE.