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BelizeINVEST

BELTRAIDE SHOWCASES ITS WORK AT CJC BUSINESS EXPO!


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.

 
Sugar city

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.

Minister Erwin Contreras talks trade opportunities with SoFla


 

Belize was at the top of the business agenda this week, as Belizean Minister of International Trade Erwin Contreras stopped by at the Lauderdale Lakes Educational and Cultural Center for the “Doing Business in Belize” workshop.

During a special meet and greet session with workshop attendees, the Minister outlined the nation’s many commercial and trading opportunities in renewable energy, agro-processing, tourism, and food and beverage production and packaging. The Minister also encouraged participants to attend the upcoming trade mission, hosted by the Miramar based Belize American Chamber of Commerce of Florida.

The trade workshop, hosted by the Broward County Office of Economic and Small Business Development (OESBD), is part of a year-long series highlighting trading opportunities with many key partners of South Florida’s economy. Representative Hero Balani from the Belize Trade and Investment Development Service (Beltraide) was on hand to update participants on the latest initiatives. He highlighted the country’s unique and respected reputation in the rapidly expanding fair trade and eco-label market. A spotlight was also shone on the country’s competitive investment incentives. This includes an export processing zone, offering multiple tax exemptions, including full import and export duty exemptions. The Fiscal Incentives Program also encourages investments in Belize through duty exemptions and tax holidays, providing both current and new investors with the legal and fiscal framework to stimulate productive economic activities.

Shared from Caribbean National Weekly

Read more here!

Belize’s first BPO Summit analyses strategy to improve business services sector


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#BOSPS2016

Government and private sector officials from Belize converged at the Radisson Fort George Hotel in Belize City on Wednesday February 17th to discuss a new strategy to improve the country’s business services sector.

The meeting, which was dubbed as the first BPO Summit in Belize was the brain child of the BelizeINVEST Unit of the Belize Trade and Investment Development Service (BELTRAIDE). It provided participants the opportunity to examine the benefits of increasing the country’s business services and identify priorities for policy and institutional reform. Participants also agreed to revive the Business Outsourcing Association of Belize (BOAB), establish a standards framework and to increase the development and promotion of I.T education in Belize to foster value-added services.

The strategy was developed in partnership with the Commonwealth Secretariat and had as its main objective to assess the potential for higher-value IT Enabled Services (ITES) and to establish the framework for an industry standard in preserving and continuing to develop the country’s outsourcing industry.

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#BOSPS2016

Through this partnership, OCO Global was contracted to develop key documents, such as a Comprehensive Outsourcing Strategy Action Plan and a BPO Standards Framework and Roadmap for Implementation, which will serve as the mechanisms for the successful execution of the framework. The study was conducted through various visits to Belize in engaging key public and private stakeholders.

“The BPO industry has grown substantially over the last couple of years in particular and it is expected to continue on an upward growth trajectory and so for us as a government it is important that we look at investment facilitation and creating the enabling environment in terms of regulations and standards to allow the sector to continue to grow and to prosper,” said Hon. Tracy Taegar, Minister of State in the Ministry of Economic Development, Petroleum, Investment, Trade and Commerce.

Historically, the offshore outsourcing sector of Belize has experienced tremendous growth of over 80% in the past few years, starting with only one (1) center opening its doors in 2005 to over 23 centers presently employing over 2,300 agents. Most centers in Belize currently focus on inbound and outbound call center operations, since it is the only Latin American and Caribbean location offering the dual advantage of being a cost effective location, with ‘accent neutral’ English language skills; English being the official language. Belize also hosts a 51.26% Spanish speaking population, making it a truly bilingual destination. (2010 census SIB)

Businesses services cover a wide range of activities including accounting, data processing, IT-related services and telecommunications. Governments and businesses around the world outsource a proportion of these services to make efficiency gains or as part of a wider corporate strategy.

The global business services outsourcing industry is expanding in the Latin America and Caribbean region and accounts for 9% of all foreign investment in business outsourcing. More companies in large markets, such as the United States, are opting to outsource non-core business activities to countries close by that can offer services at a lower cost, creating opportunity for Belize and other countries in the region.

As the information technology enabled services (ITES) sector becomes more competitive and globalized amidst escalating costs to outsource in Asia, organizations are quickly looking to re-locate their outsourcing operations to offshore destinations like Belize, which offers the same agility, access to new markets, talent and ultimately cost savings.

The business process outsourcing (BPO) industry has specifically been recognized as a specialized “niche” area and priority industry for Belize’s socio-economic growth by the Government of Belize (GOB) as well as the private sector.

Business Outsourcing Provider’s Summit Belize !


Government officials from Belize and private sector representatives will meet in February to discuss a new Commonwealth strategy to improve the country’s business services sector.

The meeting, which will take place on 17 February in Belize City, will be an opportunity to examine the benefits of increasing the country’s business services and identify priorities for policy and institutional reform. The strategy was developed by the Commonwealth Secretariat in collaboration with the Belize Trade and Investment Development Service (Beltraide).

Businesses services cover a wide range of activities including accounting, data processing, IT-related services and telecommunications. Governments and businesses around the world outsource a proportion of these services to make efficiency gains or as part of a wider corporate strategy.

The global business services outsourcing industry is expanding in the Latin America and Caribbean region and accounts for 9% of all foreign investment in business outsourcing. More companies in large markets, such as the United States, are opting to outsource non-core business activities to countries close by that can offer services at a lower cost, creating opportunity for Belize and other countries in the region.

 

 

Shared from  The Commonwealth

Read more here!

Bowen and Bowen inaugurates state of the art bottling line facility


 

A new multi-million, state of the art soft drink bottling facility was inaugurated on Tuesday, 13th January by Bowen & Bowen Ltd as part of the company’s efforts to increase its competitive edge to secure its fair share of the local market, which in recent years has been flooded by an expanding number of imported brands.

The beverage market in Belize is becoming more competitive with products now being imported from Mexico, Central America and the Caribbean.

To maintain its market share, Bowen and Bowen Ltd decided to upgrade its soft drink manufacturing and beer fermentation and bottling capacity at its facilities in Ladyville. This investment is mainly in the form of new bottling equipment in line with the requirements that the international holders (Coca Cola, Fanta and Guinness) are demanding.

 

The project will cost approximately Bz 79 million and will be implemented in three main phases over a period five years  with the soft drink bottling facility being on the top list.

B & B employee at the switch - Copy

According to Michael Bowen, President and CEO of Bowen and Bowen, the new facility is valued at  approximately Bz $40 million and can process 22,000 bottles per hour.

Bowen and Bowen is  the producer of Lighthouse Lager, Belikin Beer and Stout, Belikin Premium, Guinness Stout, Coca Cola, Sprite, Fanta, Crystal Water and Crystal Fruit Beverage.

At the inauguration ceremony, Prime Minister Dean Barrow said the investment was emblematic of the company’s commitment to producing the finest products for the local market and the creation of jobs for Belizeans. He offered his congratulations to the management of Bowen and Bowen Ltd and reiterated his Government’s unwavering support for the project.

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Hon. Dean Barrow

 

Under the Government of Belize’s Fiscal Incentive Programme, the Bowen and Bowen expansion project was granted a development concession, which is being administered by the  Aftercare Unit of the Belize Investment Development Service (BELTRAIDE), to assist the company to increase the feasibility for the  full implementation of its expansion plan.

BELTRAIDE’s mission is to enhance Belize’s prosperity by fostering investment confidence, entrepreneurship, business growth and innovation. In addition to its main functions, BELTRAIDE also operates the Small Business Development Centre (SBDCBelize) and the Belize Training Employment Centre (BTEC), which are based in Belize City.

Since its establishment in 2011 over 8,000 local and international businesses have benefited from BELTRAIDE services.

 

 

 

The inaugural ceremony was attended by over 2,000 company employees, government officials, members of the House of Representatives  and Ministers of Government,  including Hon Tracy Taegar, Minister of State in the Ministry of Economic Development, Petroleum, Investment, Trade and Commerce. Minister Taegar is also the Minister responsible for Beltraide.

Members of cabinet
(L-R) Hon. Tracy Taegar- Panton, Hon. Beverly Castillo, Hon. Godwin Hulse, Hon. Anthony Martinez, Hon. Michael Finnegan 

 

 

 

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