LIGHT MANUFACTURING SECTOR
Belize offers a stable doing business environment in fostering Light Manufacturing development with access to a skilled and vibrant labor force. The Government of Belize is committed to continue its support to the Light Manufacturing industry, such as via the granting of strategic investment incentives to qualified investors. The availability of a skilled and vibrant labour force, of approximately 172,086 individuals, coupled with access to an array of preferential markets, provide the ideal environment to foster investments in Belize. Furthermore, the Government of Belize has in place competitive incentive programs, which cater to the priority sectors, inclusive of Light Manufacturing.
Belize is well positioned as a gateway to North America and the Caribbean; with Central America as its neighbour. Belize enjoys preferential access to the European Union, United States, Canada, and the Caribbean Community (CARICOM), which entails bilateral agreements with the Dominican Republic, Costa Rica, Cuba, Colombia and Venezuela. Belize also has a Partial Scope Agreement (PSA) with Guatemala, and is actively pursuing a PSA with Mexico. These strategic trade agreements have translated to a continued upward trend in the export of goods to these jurisdictions.
The Light Manufacturing sector in Belize holds several opportunities for investment, including but not limited to the following:
- Packaging Facilities – geared toward the production of bottles, bags, boxes and other biodegrable based materials,
- Assembly / Furniture Manufacturing Facility – capitalize on the abundant resources in Belize for the production of furniture, garment, and other related items,
- Value-Added Agricultural Products – the production of dried fruit, banana chips, cassava chips, inclusive of the processing of meats such as beef, pork and poultry and the bottling of fruit juices, among other beverages are huge opportunities to consider,
- Value-Added Fisheries Products – the production of facial masks, cosmetics, fertilizer production, fish feed and livestock feed are additional opportunities that exist.
The Logistics Sector also provides a plethora of opportunities for interested investors to capitalize on. The ever expanding airlift connectivity has opened the doors for several visitors from around the world to come to Belize. Just this year alone, Aeromexico has announced direct seasonal flights to Belize from Mexico City, while Sun Country Airlines has announced direct flights from St. Paul / Minneapolis to Belize. Additionally, continuous upgrades to existing airport facilities, both domestic and international, have catered for the ever increasing number of tourism arrivals in country.
The Government of Belize remains committed to improving logistics with the recent and ongoing upgrades of the road infrastructure network to further enhance mobility and improve the movement of goods destined for both the local and export markets. Additional opportunities under the Logistics Sector exist in the form of Commercial Maritime Ports. Currently, Belize has two (2) active Maritime Ports: the Port of Big Creek, and the Port of Belize Limited. The Commerce Bight Port, located in Dangriga, under the ownership of the Government of Belize, is also expected to be further developed.
For more details on investment opportunities in Belize’s Light Manufacturing and Logistics Sector, please feel free to contact our team at BelizeINVEST, a unit of BELTRAIDE!