On November 4, 2017, the Amendment to Belize’s Misuse of Drugs Act effectively eliminated industrial hemp from the list of controlled substances, thus opening the door for hemp cultivation, and subsequent value-addition mainly for export. Since the new Amendment, BelizeINVEST, a unit of BELTRAIDE, has received several hemp investment interests seeking to develop hemp-based products such as oils, protein-rich powders, textiles, Cannabidiol (CBD), among others.Continue reading “Industrial Hemp: A New Investment Prospect in Belize”
As part of BELTRAIDE’s Business Continuity Plan (BCP), this year’s National Competitiveness Month was hosted via a series of virtual webcasts from May 15th to 29th, 2020. Our team at BelizeINVEST, a unit of BELTRAIDE, hosted a webinar on May 21st, 2020, on the topic “Investment Diversification Opportunities Post-Covid-19”. The session covered key areas such as Regional Investment Opportunities, Investment Diversification Trends, and featured discussions of private sector case studies on the “Work from Home” transition and product diversification within multiple industries nationally and globally.
Panelists included representatives from the Caribbean Association of Investment Promotion Agencies (CAIPA), the Investment Policy and Compliance Unit (IPCU), IDB Invest, BELTRAIDE, and Private Sector Stakeholders.
The new realities and possibilities created by the COVID-19 Pandemic were at the center of the discussion, with each panelist speaking about ways in which their respective institution plans to adjust during this time.
Ms. Suzette Hudson, Senior Advisor at the Caribbean Export Development Agency (CEDA), emphasized on the need for nations in the Caribbean Region to adapt to an ever-changing investment climate by embracing new emerging industries. These industries, for example, include the Offshore Outsourcing Sector, and the countless opportunities that will be created through the introduction of Artificial Intelligence (AI) and Robotics.
The premise of this new approach includes scenarios where diversification across industries are of paramount importance.
During the session, Mr. Linsford Coleman, representing IDB Invest, also expressed that while food security is important, there is a dire need to move up in the value chain. This means investing in more value-addition and export of products and services, while implementing efficient and technologically driven methods.
The session included remarkable Private Sector milestones in the fight against the adverse effects brought by the Pandemic. Transparent BPO, for example, shared their experience on the necessary “work from home” transition, and the immense success that came along with the adjustment. Travellers Liquors Ltd., also present at the session, ingeniously diversified their product line by shifting from liquor to sanitizer production in supporting the already growing COVID-19 demand.
Furthermore, the Creative Industry was also cited as being a low hanging investment prospect. In other words, investment in the requisite infrastructure along with targeted incentive programs to attract the film industry could have a profound impact on the economic recovery efforts of Belize, and other Caribbean Nations.
For more information on existing and emerging investment opportunities in Belize, kindly contact the Belize Trade and Investment Development Service, BELTRAIDE, via email at email@example.com.
To view a recording of the session, please visit the following link: https://www.youtube.com/watch?v=1l7Ph5zf7Bk&t=372s
On March 3 – 4, 2020, the Belize Trade and Investment Development Service (BELTRAIDE), a statutory body under the Ministry of Economic Development, Petroleum, Investment, Trade and Commerce of the Government of Belize (GOB), were hosted at a two (2) day outbound Belize Business Mission in Tallahassee, the capital city of the state of Florida in the U.S. Belize and the state of Florida have long maintained bilateral commercial relationships in areas of trade, investment and enterprise development. Apart from serving as the primary port and airlift gateway for Belizean exports and travelers into the U.S., many members of the Belizean diaspora also currently reside within the state presenting several opportunities for greater commercial, educational and other exchanges in development.
For this reason, the mission was organized around the core objective of further assessing key points of partnership in trade and investment development with the state of Florida specifically, while promoting bilateral opportunities for market access and investment diversification. As a part of the visit, several meetings were held at the State Capitol with key members of the state’s legislature including members of the Senate and House of Representatives. The visit also included meetings with Florida’s Secretary of State, Laurel M. Lee, and Florida’s Lieutenant Governor, Jeanette Nuñez, in further discussing bilateral trade and investment engagements between Belize and the State of Florida. Furthermore, the mission included a meeting with Mr. Jamal Sowell, Secretary of Commerce and the CEO of Enterprise Florida, BELTRAIDE’s counterpart trade promotion and development agency.
The Belize delegation was led by Dr. Leroy Almendarez, Executive Director of BELTRAIDE and included Ms. Shahera McKoy, Manager of EXPORTBelize, and Mr. Hero Balani, Manager of BelizeINVEST Generation, units of BELTRAIDE. The mission was organized in collaboration with Mr. Michael D. Young, Executive Director of the Belize American Chamber of Commerce, as well as, Mr. Shawn Foster and Mr. Sam Wagoner of Sunrise Consulting Group in Florida. Several follow up actions are already underway including the potential organization of a follow-up mission from Florida to Belize from September 10 – 14, 2020.
The Outsourcing World Summit 2.0 held in Orlando Florida from February 16th-19th, 2020, is one of the world’s largest outsourcing events that aims to address and educate key industry players on essential issues and activities that affect the outsourcing sector in the present day. Continue reading “BELTRAIDE Attends the Outsourcing World Summit 2.0 in Orlando Florida”
Emerging technologies and changes in consumer preferences continue to contribute significantly to an increase in global demand of companies seeking to outsource parts of their operations to nearshore locations. Studies estimate that the Global total spend of the Information Technology (IT) and Business Process Outsourcing (BPO) market will increase to four (4) Trillion USD by 2030. Continue reading “Belize, Your Natural Niche for Outsourcing Services”
On January 29, 2020, the Embassy of Belize in Mexico and the Belize Trade and Investment Development Service (BELTRAIDE), a statutory body under the Ministry of Economic Development, Petroleum, Investment, Trade and Commerce of the Government of Belize (GOB), hosted a one (1) day seminar focused on advancing the business momentum between both countries. The core objective of the seminar was to enable greater knowledge sharing and dialogue in advancing strategic investment partnerships in Belize, while promoting enterprise development through increased Belizean exports within Mexico. Continue reading “Advancing the Business Momentum Between Belize and Mexico”
On January 14, 2020, Regulations aimed at phasing out single-use plastics in Belize were signed into law by the Minister of Agriculture, Fisheries, Forestry, the Environment, Sustainable Development and Immigration. Continue reading “In a Bold Move for the Environment, Belize Bans Single-Use Plastics”
The Government of Belize (GOB) through the Ministry responsible for Investment, Trade and Commerce, the Belize Trade and Investment Development Service (BELTRAIDE) and the CARICOM Development Fund (CDF) launched the Belize National Investment Policy and Strategy (NIPS) project on Monday December 2nd, 2019 at the Best Western Plus Belize Biltmore Plaza – Toucan Hall. Continue reading “Government of Belize Launches the National Investment Policy and Strategy (NIPS)”
The United Nations Conference on Trade and Development (UNCTAD) held the Regional Seminar for the Caribbean on ‘Facilitating Investment in Sustainable Development Goal (SDG) projects: Spotlight on Small Island Developing States (SIDS)’ on November 26 to 28, 2019. This three-day peer-to-peer networking, dialogue and capacity building event is being facilitated in conjunction with the Annual General Assembly of the Caribbean Association of Investment Promotion Agencies (CAIPA). The seminar, organized in partnership with CAIPA and the St. Kitts Investment Promotion Agency, aims to ensure the successful implementation of investment projects relating to the SDGs. Experts from UNCTAD, best practice investment promotion agencies (IPAs), the private sector and investment stakeholders have shared experiences and potential strategies on how countries, specifically SIDS including Belize, can continue to mainstream the global 2030 Development Agenda towards meeting SDG targets through investment. Continue reading “Belize Participates in UNCTAD’s Regional Seminar on Facilitating Investment in the Sustainable Development Goals (SDGs)”