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Beltraide

Belize Trade and Investment Development service

Belize Attends the 5th Korea-LAC Business Summit in Seoul Korea


The 5th Korea-LAC Business Summit, taking place in Seoul Korea from October 7th-8th, 2019, is one of the world’s largest international exchange events between the 26 IDB member countries and Korea. The objective of the forum, is to expand and strengthen commercial ties between Korea and the Latin American and Caribbean Countries, to provide a better understanding of investment and trade opportunities. The forum serves as a great opportunity for the productive exchange of ideas and information between companies working in trade and investment, transportation and infrastructure, and energy to name a few.

The event is organized and sponsored by the Inter-American Development Bank (IDB) in partnership with Korea’s Ministry of Economy and Finance, who invited Belize to (i.) participate in showcasing Belize’s investment opportunities, (ii) to discuss Investment in Infrastructure and Public Private Partnerships for improving lives, and (iii.) to participate in one on one Business Meetings targeting Food and Beverage  Companies. Belize is being represented by Thelma Montero, BelizeINVEST a unit of BELTRAIDE, Christy Mastry, Belize Infrastructure Limited (BIL), and Jody Williams, Marie Sharps Fine Foods Ltd.

For additional information, kindly contact the Belize Trade and Investment Development Service, BELTRAIDE, via email investment@belizeinvest.org.bz or at +501 822-3737.

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Light Manufacturing and Logistics: Outlook and Investment Opportunities


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.

Light Manufacturing and Logistics Info-graphic (3)

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!

Investment Opportunities

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.

14 Orchid Garden St.,
City of Belmopan,
Cayo District,
Belize
Phone: +501-822-3737/0175
Email: investment@belizeinvest.org.bz
Website: www.belizeinvest.org.bz

FISHERIES & AQUACULTURE: OUTLOOK


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.

Continue reading “FISHERIES & AQUACULTURE: OUTLOOK”

Offshore Outsourcing: Outlook and Investment Opportunities


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

Phone: +501-822-3737/0175

Email: investment@belizeinvest.org.bz

Website: http://www.belizeinvest.org.bz

Belize’s Agribusiness and Agro-Processing Sector: Outlook and Investment Opportunities


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.

Agriculture Info-graphic (1)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.

Investment Opportunities

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.

14 Orchid Garden St.,
City of Belmopan,
Cayo District,
Belize
Phone: +501-822-3737/0175
Email: investment@belizeinvest.org.bz
Website: www.belizeinvest.org.bz

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