The Government of Belize (GOB), through the Ministry with responsibility for Investment, Trade and Commerce, along with the Belize Trade and Investment Development Service (BELTRAIDE), hosted the Belize Agriculture Investment Mission in partnership with the Republic of China (ROC) Taiwan on October 20 – 26, 2019. Continue reading “HIGHLIGHTS OF THE BELIZE-TAIWAN AGRICULTURE INVESTMENT MISSION October 20 – 26, 2019”
In its continued efforts to foster trade and investment between El Salvador and Belize, the Embassy of Belize in El Salvador, represented by Ms. Margaret Juan, Charge’ de Affairs, organized participation for the Belize Trade and Investment Development Service, BELTRAIDE, at the Agro Expo 2019. Continue reading “Agro Expo 2019 – El Salvador”
Naledo Belize Ltd. is one of the world’s first manufacturers of fresh turmeric paste. Owned by Ms. Umeeda Switlo and established in 2016, the company produces a high-quality turmeric paste from a yellow ginger base, which is processed from farm to shelf in the Toledo District in southern Belize. The company uses as much locally sourced ingredients in its paste, including limes, cold-pressed coconut oil and black pepper. In little over two years, Naledo Belize Ltd. has produced over 30,000 bottles of yellow ginger paste, under the trademark, “truly Turmeric”. The company started by exporting to Canada and from then has expanded to the Bahamas and the United States.
The company, structured with the principles of a social enterprise, operates by its creed “Better Business, Better Lives”. The company buys from a network of approved growers, young and old, who do not use pesticides or herbicides, and grow the yellow ginger sustainably in and amongst other crops in the forest. “We have registered over 200 growers with our company to ensure we can meet the demands of our Truly Turmeric in 2017 and forward” said Ms. Switlo.
Through these practices, the company produces a high-quality product using artisanal methods, which produces a distinctive product made in small batches, giving Truly Turmeric a unique place on Canadian specialty food stores. In 2017, Naledo Belize Ltd. increased its production capacity by at least eight-fold to access new markets in the USA, CARICOM and other parts of the world, continuing its quest to bring Belizean Truly Turmeric from our farm to their shelves. Truly Turmeric aims to continue focusing in Toledo, contributing to its economic development and export diversification.
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On Friday, April 8th 2016, the Corozal Junior College (CJC) held its annual Business Expo where 31 companies from the Corozal and Orange Walk Districts displayed information on their products ranging from candles, food and drinks, arts and crafts, agricultural services and many others.
BELTRAIDE was among those exhibiting companies and its booth showcased numerous brochures on the work of its various units. A central feature of the booth was a video presentation on the work carried out by Beltraide’s four technical units: BelizeINVEST, EXPORTBelize, SBDCBelize and BTEC. Prospective young entrepreneurs visiting the booth obtained information on how to establish a business and where to get assistance to create their market and business plans. In addition, all visitors to the booth received a copy of Invest Belize Magazine, a BELTRAIDE publication aimed at keeping the business community informed on current events.
The annual CJC Business Expo is part of the college’s efforts in its “pursuit of excellence”. Through its programs, including the annual business expo, many students’ lives have changed for the better. According to the CJC’s management students have been provided with hands-on and practically real experiences as they simulate owning a business. The success of the expo in particular can be measured by the great number of students who have emerged better prepared from this experience when they eventually face the workplace. BELTRAIDE, therefore, is pleased to have been able to make a contribution towards this success.
BELTRAIDE is a statutory body of the Government of Belize under the Ministry of Economic Development, Petroleum, Investment Trade and Commerce. Its mission is to enhance Belize’s prosperity by fostering investment confidence, entrepreneurship, business growth and innovation.
Targeting existing investors to reinvest in the Caribbean and creating linkages in the domestic economy between investors and local suppliers to drive investment growth were issues at the centre of the strategy recommended to the region’s’ Investment Promotion Agencies (IPAs) at the recently held workshop facilitated by the Caribbean Export Development Agency (Caribbean Export) in collaboration with the Caribbean Association of Investment Promotion Agencies (CAIPA) on 27-28 July in St. Lucia.
During the workshop, 22 representatives from 11 IPAs across the Caribbean region were exposed to best practices in facilitating existing investors and in key account management. “It takes up to 3 years to secure an investment from a greenfield project”, noted the CAIPA President, McHale Andrew of Invest Saint Lucia, “but it can take as little as 1 year to secure additional investments from an existing investor. With the current challenges of reduced promotional budgets and a demand for increased foreign investment and jobs, it seems logical that we seek to engage further with those investors who have already partnered with us”, continues the CAIPA President.
The training forms a part of initiatives undertaken through the provision of funding assistance by the Inter-American Development Bank under a Regional Public Goods Programme entitled “Support for Foreign Direct Investment in the Caribbean.” The main objective of this project is to assist the Caribbean Investment Promotion Agencies in the positioning of the region as a location for Foreign Direct Investment (FDI) and to present the Caribbean as a single investment destination. The project is jointly financed with Caribbean Export and CAIPA.
During the workshop, it was highlighted that already a significant portion of investments into the region come from reinvestments but these figures are not monitored nor incorporated as FDI. The training of the IPAs forms part of a broader initiative to develop a reinvestment programme for CAIPA and to track reinvestment figures within the Caribbean. Preliminary results from a survey of existing investors, which forms a part of this project, indicates an interest or plans by more than 50% of existing investors to expand within the host country or within the region. “Moreover,” notes the Executive Director of Caribbean Export, Mrs. Coke Hamilton, “the region’s best ambassadors and attractors of new investors are our existing investors. We treat them right, and we are already halfway to reaching our investment, jobs and export targets.”
This initiative will see the development of strategies within regional IPAs to address the needs of existing investors and to assist them in expansion plans across the region. Participating IPAs included: Invest Barbados, the Bahamas Investment Authority (BIA), the Belize Trade & Investment Development Service (BELTRAIDE), Curacao Investment and Export Promotion Agency (CINEX), the Grenada Industrial Development Corporation (GIDC), the Centre for Facilitation of Investments in Haiti, Invest Saint Lucia (ISL), Jamaica Promotion Corporation (JAMPRO), InvestSVG (St. Vincent & the Grenadines), the Investment and Development Corporation of Suriname (IDCS), and iInvesTT (Trinidad & Tobago).