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Building Resilient MSMEs Through Digitalization


The Belize Trade and Investment Development Service (BELTRAIDE) and the United Nations Development Programme (UNDP) signed an agreement on March 30th 2021 to implement a project called “Building Resilient MSMEs- Accelerating Digitization”. This project seeks to establish national structures to support the accelerated digitization of Micro, Small and Medium Enterprises (MSMEs) in Belize. Primarily, it will provide capacity building to promote resilient economic development and to increase MSMEs business digital capabilities so they can recover and rebuild from the COVID-19 pandemic. 

The project comprises three main areas:

  • An MSME Medium Term Strategy to strengthen the MSME ecosystem;
  • A Digital/virtual platform that provide MSMEs with capacity building and knowledge exchange, inclusive of a B2B e-commerce portal where service providers such as distributors, logistics, marketing, and back-office (e.g. accounting/bookkeeping & I.T) can connect with goods and services providers to deliver products effectively through digital channels; and,
  • A pilot testing stage with approximately 150 MSMEs to enhance the use of the Virtual Knowledge Center.

This initiative highlights that digital platforms provide a diverse range of support services to MSMEs, including self-help/self-paced e-learning opportunities, and facilitates information and knowledge dissemination services as well as business trade and business networking. Furthermore, it will create a supportive ecosystem for MSME entrepreneurs to increase market access and facilitate supply chain, and encourages MSMEs to seize opportunities to promote the use of technology to solve business challenges during and after the COVID-19 Pandemic.

For additional information on the Building Resilient MSMEs- Accelerating Digitization project, kindly contact the Belize Trade and Investment Development Service (BELTRAIDE) via email at projects@belizeinvest.org.bz or at +501-822-3737.

Belize Export Diversification Project


In its continued effort to provide relevant and high-quality services to its clients, EXPORTBelize, a unit of the Belize Trade and Investment Development Service (BELTRAIDE), seeks ways to enhance the expertise and capacity of its advisors. In light of this, technical officers from BELTRAIDE and the Belize Chamber of Commerce and Industry participated in virtual trainings geared at enhancing their export knowledge and capacities through the initiative: “Belize Export Diversification Project; Building the Capacity of BELTRAIDE to implement activities under the National Export Strategy”. This project is being sponsored by the Commonwealth Secretariat and offers technical assistance focused on strengthening the advisory capacity to support the development and competitiveness of exporting MSMEs.

The training program included virtual in-class sessions, as well as team work to address Case Studies and exercises that presented real-life scenarios faced by exporters and potential exporters.  Areas covered included modules on

  1. Belize and the World of Exports,
  2. Identifying Market Opportunities,
  3. Assessing Enterprise Export Capacity
  4. Export Product Development,
  5. Shipments and Related Logistics,
  6. Export Pricing, Quotations, Formal Offers, Methods of Payments and Financing,
  7. Export Marketing Management and
  8. Export Business Plans

The final module includes an action plan that allows participants to implement actions based on learning during the training program. It is expected that these actions will be implemented over the next 6 months to one year.

EXPORTBelize, a unit of the Belize Trade and Investment Development Service (BELTRAIDE), serves as Belize’s national trade promotion agency, providing one-on-one advising and business support to enterprises seeking to export their goods and services. Simultaneously, EXPORTBelize collaborates closely with local, regional and international public and private stakeholders to enhance the trade ecosystem by implementing related activities to foster the growth and development of Belize’s export sector.

BELTRAIDE at 20 in 2020


The Belize Trade and Investment Development Service (BELTRAIDE), celebrates its 20th anniversary with a celebration of staff, clients, and other stakeholders and the launch of its 7th Volume of the INVESTBelize Magazine under the theme BELTRAIDE at 20 in 2020!

Over the past two decades BELTRAIDE has partnered with forward-thinking organizations in an effort to elevate their client success, accelerate economic growth and enhance the country’s regional and international reputation as a competitive business destination. 

 As a part of its 20Year Anniversary celebration, BELTRAIDE has been receiving congratulatory messages from stakeholders who have been instrumental to the success and progress of the organization. Many of these clients’ stories also appears in the 7th edition of the InvestBelize magazine which, since its inception in 2012, has forged an impressive path, attaining widespread recognition and becoming an authoritative publication for opportunity seekers, buyers and various business professionals. It remains BELTRAIDE’s flagship publication for information on business in Belize including national development updates, as well as opportunities in investment, trade, entrepreneurship and training. 

In the continued quest of promoting digital transformation in the wake of the COVID-19 pandemic, this special edition of the INVEST Belize Magazine is the first to be launched in a fully digital format. The published Magazine will be available at https://www.belizeinvest.org.bz/magazine.html  

Industrial Hemp: A New Investment Prospect in Belize


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”

National Competitiveness Month 2020


As part of BELTRAIDE’s Business Continuity Plan (BCP), this year’s National Competitiveness Month was hosted via a series of virtual webcasts from May 15th to 29th, 2020. Our team at BelizeINVEST, a unit of BELTRAIDE, hosted a webinar on May 21st, 2020, on the topic “Investment Diversification Opportunities Post-Covid-19”.  The session covered key areas such as Regional Investment Opportunities, Investment Diversification Trends, and featured discussions of private sector case studies on the “Work from Home” transition and product diversification within multiple industries nationally and globally.

Panelists included representatives from the Caribbean Association of Investment Promotion Agencies (CAIPA), the Investment Policy and Compliance Unit (IPCU), IDB Invest, BELTRAIDE, and Private Sector Stakeholders.

The new realities and possibilities created by the COVID-19 Pandemic were at the center of the discussion, with each panelist speaking about ways in which their respective institution plans to adjust during this time.

Ms. Suzette Hudson, Senior Advisor at the Caribbean Export Development Agency (CEDA), emphasized on the need for nations in the Caribbean Region to adapt to an ever-changing investment climate by embracing new emerging industries. These industries, for example, include the Offshore Outsourcing Sector, and the countless opportunities that will be created through the introduction of Artificial Intelligence (AI) and Robotics.

The premise of this new approach includes scenarios where diversification across industries are of paramount importance.

During the session, Mr. Linsford Coleman, representing IDB Invest, also expressed that while food security is important, there is a dire need to move up in the value chain. This means investing in more value-addition and export of products and services, while implementing efficient and technologically driven methods.

The session included remarkable Private Sector milestones in the fight against the adverse effects brought by the Pandemic. Transparent BPO, for example, shared their experience on the necessary “work from home” transition, and the immense success that came along with the adjustment. Travellers Liquors Ltd., also present at the session, ingeniously diversified their product line by shifting from liquor to sanitizer production in supporting the already growing COVID-19 demand.  

Furthermore, the Creative Industry was also cited as being a low hanging investment prospect. In other words, investment in the requisite infrastructure along with targeted incentive programs to attract the film industry could have a profound impact on the economic recovery efforts of Belize, and other Caribbean Nations.

For more information on existing and emerging investment opportunities in Belize, kindly contact the Belize Trade and Investment Development Service, BELTRAIDE, via email at investment@belizeinvest.org.bz.

To view a recording of the session, please visit the following link: https://www.youtube.com/watch?v=1l7Ph5zf7Bk&t=372s

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