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BELTRAIDE transitioning to ASYCUDA for Duty Exemption Processing


One of the main benefits for the investors utilizing the Fiscal Incentives Program is the duty exemption.  To be able to provide this service, BELTRAIDE needs to work hand in hand with the Belize Customs and Excise Department.  BELTRAIDE will commence training in early December 2012 to transition into using the ASYCUDA WORLD (Automated SYstems for CUstoms DAta); which is leading media software that Integrates Customs Information Systems in more than 80 countries.

ASYCUDA began with an UNCTAD initiative to reduce transaction costs throughout the trade transaction chain, with potential cost savings per annum of $100 billion worldwide. It will be used to generate statistical economic analysis, manifests and customs declarations, accounting procedures, and transit and suspense procedures.

Belize has proudly implemented the software at Punta Gorda and Big Creek since June and August 2010 respectively, Phillip Goldson International Airport since May 2011, Belize City in September 2011, Benque Viejo Customs Station since July 2012 and Santa Elena Customs Stations since August 2012.

BELTRAIDE will be providing Electronic Data Interchange (EDI) between Concession Holders and Customs. Once the due diligence of the Fiscal Incentive request is done, the System will automatically authorize or be flagged by a BELTRAIDE authorized personnel.  This should then speed up the process in getting your goods assessed by Customs within 1-3 business days given that all requirements are met.  Overall, this system will facilitate control of the import and exports in our country, Belize.

BELTRAIDE only accepts invoices for the processing of duty exemption request during this transition period.  Thereafter, invoices will need to be submitted by your customs broker who will then upload it to the ASYCUDA system for BELTRAIDE’s personnel to conduct due diligence and approve online.
Sources:

http://www.asycuda.org

http://www.customs.gov.bz/asycuda.html

http://www.customs.gov.bz/download/SAD_Process.pdf

GSR ENERGY AND BAGASSE CO-GENERATION PROJECT RECEIVES GRANT FUNDING


“GSR Energy Limited is one of the winners of the 2012 IDEAS Energy Innovation Contest for the Caribbean.  The award is in the form of a grant for the Bagasse Co-Generation Project. An excerpt from the link in regards to the contest is provided below.

After three years of self-funded effort, GSR Energy Limited’s Bagasse Co-Generation Project has received a vote of confidence from an international consortium.

In addition to grant funding, GSR Energy Limited will receive technical and business development support to implement the Sugar Cane Bio-Refinery Project which is comprised of the Bagasse Co-Generation Project fully integrated with an Ethanol Plant.

GSR Energy Limited will also receive access to other experts, policy makers, institutions and potential financial partners.”

Further details are provided in the following link:

http://iadb.org/en/topics/energy/ideas/ideas,3808.html

Source: Inter- American Development Bank: http://iadb.org/en/topics/energy/ideas/ideas,3808.html

Notice: The Belize National Standard Specification for Filling, Handling, Storage, Transportation and Location of Portable Cylinders for Liquefied Petroleum Gas.


STANDARDS ACT (NO. 4 OF 1992)

DECLARATION OF NATIONAL STANDARD AND INTENTION TO DECLARE A STANDARD TO BE A MANDATORY STANDARD

THE BELIZE BUREAU OF STANDARDS hereby declares, pursuant to Section 8 of the Standards Act (No. 4 of 1992) that as of June 28th, 2012, the following standard shall be a national standard, namely: the Belize National Standard Specification for Filling, Handling, Storage, Transportation and Location of Portable Cylinders for Liquefied Petroleum Gas.

AND NOTICE IS HEREBY GIVEN that the Minister responsible for standards and standards related matters, the Hon. Erwin Contreras, intends to declare the BELIZE NATIONAL STANDARD SPECIFICATION FOR FILLING, HANDLING, STORAGE, TRANSPORTATION AND LOCATION OF PORTABLE CYLINDERS FOR LIQUEFIED PETROLEUM GAS to be a mandatory standard with effect from the 10th of August, 2012. Continue reading “Notice: The Belize National Standard Specification for Filling, Handling, Storage, Transportation and Location of Portable Cylinders for Liquefied Petroleum Gas.”

NOTICE: Standard Specification for Inspection, Testing and Requalification of Portable Cylinders for Liquefied Petroleum Gas (LPG).notice


STANDARDS ACT  (NO. 4 OF 1992)

DECLARATION OF NATIONAL STANDARD AND INTENTION TO DECLARE A STANDARD TO BE A    MANDATORY STANDARD

THE BELIZE BUREAU OF STANDARDS hereby declares, pursuant to Section 8 of the Standards Act (No. 4 of 1992) that as of June 28th, 2012, the following standard shall be a national standard, namely: the Belize National Standard Specification for Inspection, Testing and Re-qualification of Portable Cylinders for Liquefied Petroleum Gas (LPG).

  1. AND NOTICE IS HEREBY GIVEN that the Minister responsible for standards and standards related matters, the Hon. Erwin Contreras, intends to declare the BELIZE NATIONAL STANDARD SPECIFICATION FOR INSPECTION, TESTING AND REQUALIFICATION OF PORTABLE CYLINDERS FOR LIQUEFIED PETROLEUM GAS (LPG)  to be a mandatory standard with effect from the 10th of August, 2012. Continue reading “NOTICE: Standard Specification for Inspection, Testing and Requalification of Portable Cylinders for Liquefied Petroleum Gas (LPG).notice”

BELTRAIDE and Idealab Partnering to Publish Belize’s First Investment Magazine!


PRESS RELEASEImage

April 12th, 2012- “Invest in Belize … the natural niche” BELTRAIDE, in  partnership with Idealab, is sponsoring the creation of a high level business and investment magazine.  Invest Belize will be used as a promotional tool showcasing Belize in a progressive light for what it represents: an investment destination. The magazine is featured in strategic locales to aggressive investors who are seeking to invest in new dynamic markets, such as Belize. This publication features the various major investment opportunities, while providing up to date information on policy, trade agreements, statistics, and projections to the investment community in Belize and abroad.

The Magazine offers exceptional opportunities for the Government of Belize and the private sector to deliver their message in the form of feature articles on current affairs and business and investment opportunities in Belize, as well as in the form of advertisements. Continue reading “BELTRAIDE and Idealab Partnering to Publish Belize’s First Investment Magazine!”

>New World Oil and Gas Plc (‘New World’ or the ‘Company’) Completes Definitive Transaction Documents for the Blue Creek Concessions, Beliz


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New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas 16 June 2011
New World Oil and Gas Plc (‘New World’ or the ‘Company’) Completes Definitive Transaction Documents for the Blue Creek Concessions, Belize.
New World Oil and Gas Plc, a company focused on making investments in the oil and gas sector, is pleased to announce that it has completed a Farm-Out Agreement (‘FOA’) to acquire up to a 100% participating interest in the Production Sharing Agreement (‘PSA’) over the Blue Creek Project in the Petén Basin in Belize and, furthermore, has entered into an operations agreement with respect to the PSA (the ‘Operations Agreement’). Additionally the Company has entered into a 2-D seismic acquisition agreement with American Seismic LLC and will commence the first phase of its seismic acquisition programme for the Blue Creek Project later this month.
The FOA was agreed between the Company’s wholly-owned subsidiary New World Oil and Gas (Belize) Ltd (‘NW Belize’) and Blue Creek Exploration Ltd (‘BCE’) which had the original agreement with the Government of Belize (dated 12 October 2007, as amended). The Operations Agreement was entered into by New World Oil and Gas (Belize Operations) Ltd (‘NW Belize Ops’), a wholly owned subsidiary of the Company, and BCE, whereby NW Belize Ops is named as operator of the Blue Creek Project.
Key provisions of the above agreements:
Upon the acquisition of 45 line km of 2D seismic data over the Project and re- payment of US$250,000 of BCE’s historical costs ($150,000 in cash and $100,000 in the Company’s ordinary shares to be issued at a price of 6.5p per share) BCE must transfer and assign 12.5% of its rights under the PSA to NW Belize.
Upon the acquisition of an additional 125 line km of 2D seismic data over the Project, BCE must transfer and assign a further 12.5% of its rights under the PSA to NW Belize.
Upon the drilling and completion of the first well through the Jurassic, BCE must transfer and assign a further 37.5% of its rights under the PSA to NW Belize.
Upon the drilling and completion of the second well through the Jurassic, BCE must transfer and assign the remaining 37.5% of its rights under the PSA to NW Belize. BCE will retain a 5% royalty interest following the assignment of 100% of its
participation rights under the PSA. BCE appoints NW Belize Ops as operator under the PSA with immediate effect.
New World CEO William Kelleher said, “We are very excited to announce the completion of these agreements for the Blue Creek Project which marks a huge step forward for our company. Being named operator under the PSA by our partners with the full support and agreement from the government demonstrates our team’s commitment and ability. We will shortly begin a two phase 2-D seismic acquisition and interpretation programme which will
bring us one step closer to reducing geologic risk in the licence area. This programme, set out under our farm-out agreement is designed to allow the Company to focus in on high grading subsurface prospectivity, before deciding on continuing to the next seismic acquisition phase and completing our further farm-in obligations. This is in line with our previously stated goals of high-grading the leads on the northern licence area under the PSA that are significant in size and potential, which closely resemble existing producing fields to the south, using our existing cash reserves and improving our chances of an early discovery.”
** ENDS * *
For further information please visit http://www.nwoilgas.com or contact:
Enquiries:
New World Oil and Gas Plc
William Kelleher
Georges Sztyk Peter Sztyk
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish Felicity Geidt
Shore Capital Stockbrokers Limited (Broker)
Jerry Keen Pascal Keane
St Brides Media & Finance Ltd
Hugo de Salis Lottie Brocklehurst
Tel: +17134472171 +44 7901 502 053
Tel: +1514 961 2247 Tel: +19172157122
Tel: +44 (0) 20 7628 3396
Tel: +44 (0) 20 7408 4090
Tel: +44 (0) 20 7236 1177

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