Belize’s natural resources, pro-business investment climate, democratic stability, and incentives have led to steady growth in Foreign Direct Investments (FDI). The Government of Belize’s (GOB) strategic commitment to support the sustainable development of its priority industries, such as, Agriculture, Fisheries & Aquaculture, Offshore Outsourcing, Sustainable Energy, Logistics & Light Manufacturing, and Tourism, has contributed to a 17% increase of FDI inflows in 2016, when compared to 2015. Continue reading “Belize, Your Natural Niche”
The Belize Trade and Investment Development Service (BELTRAIDE), under the auspices of the Ministry responsible for Investment, Trade and Commerce, is mandated to facilitate and promote investment in Belize. The massive investment happening at Harvest Caye in the southern part of the country is yet another vivid example of BELTRAIDE’s efforts to foster investments.
On Tuesday November 15, 2016 Belize Island Holdings Limited, a subsidiary of Norwegian Cruise Line Holdings Ltd, held a soft opening for its Eco/Adventure Cruise Port at Harvest Caye.
Harvest Caye sits a few miles south from the Placencia mainland and it takes only eighteen minutes to get there by boat. Upon arrival, the visitor cannot help but to enter into a state of wonderment as the vast beauty of the island unfolds.
Its turquoise water, sandy beach lined with beach beds, huge pier, and array of restaurants and bars, butterfly farm, nature trails, the welcome center, shopping centers, massive lighthouse tower used for zip lining, water sports facilities and its condescending giant pool all infuse the visitor’s amazement.
The Eco/Adventure Cruise Port will allow cruise line passengers to experience Belize at its finest on the island that has all the imaginable amenities to pamper the discerning tourist.
Harvest Caye is stunningly spectacular! But so is the continuous support the project received from the Government of Belize.
Like Harvest Caye there are also other projects that are benefiting from the Government’s keen commitment to foster investment.
The Cabinet Subcommittee on Investments (CSCI) visited Belize Natural Energy (BNE) along with the Belize Trade and Investment Development Service (BELTRAIDE) and the Belize Bureau of Standards (BBS) in exploring energy investment opportunities on May 6th, 2016. In attendance included the Chair of the Subcommittee, Hon. Tracy Taegar Panton, Minister of State in the Ministry of Economic Development, Petroleum, Investment, Trade and Commerce along with Hon. Manuel Heredia, Minister of Tourism and Civil Aviation and Hon. Vanessa Retreage, Attorney General at the Attorney General’s Ministry. The BNE team provided the delegation with a very insightful tour of the facilities including the components on oil and gas.
The Cabinet Subcommittee on Investments (CSCI) is a ministerial committee that was established in early 2013 to review large scale investment projects and conduct assessments ensuring meaningful investments while maximizing benefits to the people and Government of Belize. BELTRAIDE serves as the secretariat. For further details on investment opportunities in Belize, feel free to contact BelizeINVEST, a unit of BELTRAIDE at firstname.lastname@example.org or +501-822-3737 / 0175.
At the “Foro de Cancun 2015”, Belize and Mexico signed a Memorandum of Understanding (MOU) to establish stronger business relations between both countries.
The Hon. Erwin Contreras, Minister of Trade, Investment Promotion, Private Sector Development and Consumer Protection signed on behalf of Belize while Mr Francisco N. González Díaz, Director General of ProMéxico, signed on behalf of Mexico. The signing was witnessed by Quintana Roo’s Governor, Roberto Borge Angulo.
Francisco N. González Díaz, Director General of ProMéxico and Hon. Erwin Contreras , Minister of Trade
“The signing of the MOU is a very significant milestone in BELTRAIDE’s BelizeINVEST Unit’s young existence! We have now been able to formalize an MOU with PROMEXICO, one of the foremost leaders in the field of global investment promotion,” said Mr. Nick Ruiz, General Manager of BELTRAIDE’s Trade and Investment Development Division. He added: “We have been working on this since late 2012; now we can proudly claim that our international network includes a partnership with PROMEXICO, a relationship which we will leverage to increase capacity here at home.”
As part of the MOU, both BELRAIDE and ProMexico will exchange information investment policies , opportunities and business data on Belize and Mexico. Both parties have collaborated to improve the investment climate of their respective countries and the effectiveness of their organizations by encouraging the exchange of training opportunities in the fields of exports and investment promotion facilitation and aftercare as well as through joint efforts in best practices.
For further information, please contact the Marketing and Information Unit of BELTRAIDE at 223-0323
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.
Happy Garifuna Settlement Day!!
The most important day in the Garifuna calender is November 19. On this day, Garifuna Settlement Day, the arrival of the first Garinagu to Belize by dory (dug-out canoe) is celebrated in all Garifuna communities in the country.
Settlement Day is celebrated for a whole week including parades, live music, drumming, dancing, prayers, Garifuna mass and election of Miss Garifuna take place to mark the anniversary. In communities like Dangriga and Punta Gorda, a dory symbolizing the arrival of the first Garinagu, is floating to shore around early morning dawn while local Garinagu women dress in their colorful costumes – , tourists and other interested await the arrival onshore.
Since 1943 November 19th has been a public holiday in the Stan Creek and Toledo districts called Garifuna Settlement Day. From 1977 November 19th has been a county wide public holiday.