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”
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.
For more information on FIAL click the link below:
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).
EXPORTBelize, BELTRAIDE congratulates Hot Mama’s Belize for its participation in Mr. Densil Williams’s case study.The study entitled Competing against Multinationals in Emerging Markets draws on efficiency theory, portfolio theory and market structure theory as the lens through which to explain business survival/ failure. By using those theoretical insights along with case studies the book provides a comprehensive set of lessons which successful small firms have adopted in order to survive and prosper in an increasingly hostile competitive manufacturing sector where large firms are mostly dominant. Drawing lessons about competing in a highly competitive sector, the book uses the of narrative in social research to inform conclusions about factors which lead to survival and prosperity.
The Book is available on Amazon:
Notice for CARIFORUM Fashion Firms
Invitation to participate in Dominicana Moda 2014
October 20-25, 2014
Santo Domingo, Dominican Republic
The Caribbean Export Development Agency (Caribbean Export) under the 10th European Development Fund (EDF) will be collaborating in the organization of Dominicana Moda 2014 (DM2014) in Santo Domingo, Dominican Republic. Caribbean Export is highly committed to the development of the Fashion sector in the Region and seeks to enable opportunities such as these to engage relevant stakeholders and foster sector-wide integration. This collaborative effort will provide a great opportunity for emerging and established fashion designers in the Caribbean to expose their vision at a regional and international stage, thus positioning the Caribbean as an international go-to location for Fashion design and ingenuity.
In the past 9 years, Dominicana Moda has grown to be the official Fashion Week of the Dominican Republic thus the most important platform for the Fashion Industry. Throughout its history it has certainly become the fastest growing runway show in the Latin American region.
Dominicana Moda is a yearly event for around 6 days of continuous runway shows where the best brands and designers come together. Major fashion houses have participated in the past, and this year it will surely continue to grow. Continue reading “Expression of Interest Notice – Dominicana Moda 2014”
Public and Private Sectors Meet on Economic Development
Today, the Belize Biltmore Plaza was the site of a very high-profile, high-powered economic forum, under the theme – Strengthening Partnership for Growth. It’s the third of its kind, an initiative to strengthen the collaboration between the public and private sectors in Belize. Industry stakeholders, big business operators, bankers, financial experts, entrepreneurs and government officials engaged in panel discussions on various pertinent topics with one goal – developing the economy. Mike Rudon was at the opening ceremony this morning and has the story.
Mike Rudon, Reporting
The first business forum took place in 2011, an effort by government to open meaningful dialogue with the private sector in Belize. Since then the initiative has taken flight, and today there was massive participation from private sector stakeholders, as well as industry giants and financial experts. Traditionally the sessions have been speech-centred, but this year it’s being done different to allow for more interaction, input and constructive discussion.
Mike Singh, C.E.O., Ministry of Trade and Investment Promotion
“This year we’re doing panel discussions, and we’ve brought in people from key areas in government, key areas in the private sector, key areas in the productive sector to sit and have discussions on specific topics, to discuss issues like competitiveness, education, skill needs…I could go through a long list but I believe that there are four panels after which there are question and answer sessions with the private sector. The Prime Minister is on hand to address any issue that they might have, and I also believe that for him it will be a learning experience as well because it really is intended to be a two way thing, not a one way speech-giving activity.”