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Public and Private Sectors Meet on Economic Development


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.”

  Continue reading “Public and Private Sectors Meet on Economic Development”

Belize’s Hidden Treasure in I.T. Outsourcing


ImageIt is evident that in recent years, Belize has seen the advent of the business process outsourcing (BPO) industry with the boom of contact centers providing services to various offshore companies. The first center opened its doors in 2005 and today, there are 14 active BPO’s in Belize offering both outbound sales and inbound customer service. Though the interest in Belize’s BPO industry continues to be strong, there is a shifting focus where multinational companies seek to outsource their I.T. services in Latin America and the Caribbean in order to tap into lower costing near shore markets due to rising costs in Asia, while also leveraging a new talent pool of ICT innovation.

The worldwide I.T. outsourcing (ITO) market is forecast to reach $288 billion in 2013, a 2.8% increase in U.S. dollars from 2012 according to Gartner, Inc. Statistics also show that ITO markets in emerging Asia/Pacific, Latin America and Greater China will all grow more than 13% in 2014 with the expansion of multinational buyers into these regions. So where does this leave Belize amidst this growth in the global ITO industry?

According to a recent study, the University of Belize has churned up to 105 graduates in I.T. with 56 earning a Bachelor’s degree and 49 earning an Associate’s between 2010 and 2013. During this same period, the Junior Colleges in Belize that offer an I.T. Associate degree program have produced 185 graduates in I.T. with Galen University recently introducing its program being scheduled to graduate 18 in 2014. This means that in four (4) years, we have produced close to 308 programmers in Belize’s I.T. talent pool; however, there are two major problems that are at hand.

First, though many students are graduating with degrees in I.T., only a few work in the field after they graduate due to a lack of professional I.T. careers or job opportunities in Belize. The few that are available, fill up by the brightest, leaving the others to either become freelance entrepreneurs, or to work in a field completely unrelated to I.T. Secondly, because of this, the interest of I.T. and students majoring in it have fallen due to fears of not being able to obtain work in the market after graduation. The study shows that total tertiary I.T. graduates in 2011 fell from 85 to 75 in 2012. So how can we leverage this available talent pool in Belize. Continue reading “Belize’s Hidden Treasure in I.T. Outsourcing”

Outsource2LAC Shapes up as the foremost outsourcing and offshoring event in Latin America and the Caribbean


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Representatives of hundreds of global services companies meet in Buenos Aires with industry experts to examine current trends

The third annual Latin American and Caribbean Outsourcing and Offshoring Forum, Outsource2LAC, brought together representatives of leading global services industries in the region with potential clients from Asia, Europe, and North America.

More than 500 businesspeople from the global services sector, trade promotion professionals and government officials participated in the meeting, which was held in Buenos Aires Nov. 20-21. During the event participants held more than 1000 one-on-one business meetings in fields that included digital animation, virtual education, pharmaceutical research and development, architectural design, and engineering design, among others.

“Our region is increasingly recognized internationally for the great variety and quality of the global services it offers, and Outsource2LAC has become a key resource for this market,” said Fabrizio Opertti, chief of the Trade and Investment Unit of the Inter-American Development Bank (IDB). “Our geographic location, time zone, and our growing numberof creative and innovative companies give us a competitive advantage,” he added.

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The event’s first day was marked by panel discussions on issues relevant to the global services industry, such as of “nearshoring and reshoring” incorporating services into the value chain, the importance of strengthening human capital, and opportunities for small and medium-sized enterprises. Continue reading “Outsource2LAC Shapes up as the foremost outsourcing and offshoring event in Latin America and the Caribbean”

Micro-Enterprise Utility Start-Up Package – “An immediate relief measure for entrepreneurs and new starts-up”


The Belize Trade and Investment Development Service (BELTRAIDE) is pleased to announce the “Micro-Enterprise Utility Start-up Package” for the promotion, strengthening and support of the newly registered Micro Enterprise (ME). Micro Enterprise is defined as a business with:

a) less than 5 employees; or

b) less than $100,000 in annual sales; and

c) less than $50,000 in capital investment.

With the support of the Government of Belize, through its Office of Public-Private Dialogue, BELTRAIDE had partnered with the Belize Telemedia Ltd (BTL), Belize Water Services Ltd. (BWSL,) and Belize Electricity Ltd. (BEL) to make this initiative possible. These three key utility service providers will be offering attractive packages for new starts-up businesses. The packages will waive connection fees and deposits for these three utilities.

Continue reading “Micro-Enterprise Utility Start-Up Package – “An immediate relief measure for entrepreneurs and new starts-up””

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