Belize’s abundance in investment opportunities allows for all sectors to capitalize on the country’s strategic business position. The blossoming business environment has created opportunistic gaps in the market for fruitful development to occur. One such sector that can benefit from these market gaps is Light Manufacturing and Logistics. This sector has exuberantly displayed it’s potential for investment. Moreover, the country’s thriving economy with flourishing private sector development, has created the required infrastructure to support the expansion of the Light Manufacturing and Logistics Sector.
This sector is a critical pillar in supporting Belize’s continued development, as many industries are reliant on its service and product offerings. Furthermore, the vitality of this sector can be seen in the enabling environment created through the influx of investment by the Government of Belize in improving the country’s roads, which has created a bountiful return in attracting investment to our beautiful Belize.
When considering investments in Logistics, the ever expanding airlift connectivity has opened the doors for several visitors from around the world to come to Belize. Just in 2018 alone, AeroMexico announced direct seasonal flights to Belize from Mexico City, while Sun Country Airlines announced direct flights from St. Paul/Minneapolis to Belize. Additionally, continuous upgrades to existing airport facilities, both domestic and international, have catered to the ever increasing number of tourism arrivals in the country.
Belize is well positioned as a gateway to North America and the Caribbean; with Central America as its neighbor. As a member of the Caribbean Community (CARICOM), Belize enjoys preferential market access to the European Union, United States, and Canada, including bilateral trade 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 trade relations with Mexico and Taiwan. These strategic trade agreements and geographic location have translated to a continued upward trend in the export of goods to these jurisdictions, proving beneficial to the Light Manufacturing and Logistics Sector.
The Government’s continued commitment to support this sector, via the granting of strategic investment incentives, has created an advantageous position for new development to thrive. In addition, Belize’s availability of a skilled and vibrant labor force of approximately 178,000 individuals, provides the ideal environment to foster Light Manufacturing and Logistics investments (Statistical Institute of Belize, 2019). With the recent improvement of Belize’s road infrastructure, investing in the Light Manufacturing and Logistics Sector has never been more enticing!
The recent boom in investment across all sectors has created prolific investment opportunities in the Light Manufacturing and Logistics Sector. Some of these opportunities include, but are not limited to the following:
- Packaging Facilities – geared toward the production of biodegradable bottles, bags, boxes and other biodegradable 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 and Fisheries 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; the production of facial masks, cosmetics, fertilizer production, fish feed and livestock feed are additional opportunities that exist;
- Cruise Docking Facility, Ports, International Airport and Airlift Expansion – the expansion or development of logistical facilities are needed to enhance Belize’s connectivity with the world.
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.