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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.

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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.

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

 

 

 

BELTRAIDE and McNab Publishing launch Vol. 4 Invest Belize Magazine


BELTRAIDE, in partnership with McNab publishing launched Volume 4 of the Invest Belize Magazine on November 2, 2015. Since 2012, the Invest Belize magazine published by BELTRAIDE serves as an effective promotional platform for Belize, showcasing business success stories and investment opportunities. This platform has enabled businesses in Belize to be seen by thousands of readers every year both nationally and internationally.

The publication’s objective is to provide investors with firsthand information on Belize inclusive of up to date statistics, articles, success stories and ads of projects and services being offered by Belizean enterprises, thus truly enabling a one-stop-shop for matchmaking and promotion! BelizeINVEST, the unit of BELTRAIDE charged with investment generation and aftercare, specifically champions the magazine by including it in investment packages presented at various international trade shows, expos as well as a strong presence at our foreign offices through the diplomatic core. In essence, the publication is a global one placing Belize on the map while targeting specific projects and investments within the priority investment sectors.

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Shari WIlliams, Marketing and Information Manager, BELTRAIDE

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BelizeINVEST has catalyzed the elevation of Standard & Poor’s sovereign rating for Belize to “B-/Positive/B.” FDI Intelligence’s Caribbean and Central American countries of the future 2015/2016 also awarded Belize for ranking in the Top 10 for best FDI strategy and cost effectiveness, attesting to Belize’s innovative efforts and increasing competitiveness within the region. A part of this innovation being the Invest Belize magazine of course!

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Tanya McNab, Creative Director of McNab Publish Mrs. Kim Simplis-Barrow, Special Envoy for Women and Children

Belize continues to remain on a strong growth trajectory for investment. We continue to provide ample business opportunities and favourable rates of return to investors both local and foreign that seek to capitalize on a given venture in Belize.

BELTRAIDE participates in the Caribbean Investment Summit in London


The Belize Invest arm of BELTRAIDE, represented by Mr. Brian Lin, Manager of Investment Genegration, BELTRAIDE, participated in the Caribbean Investment Summit in London, United Kingdom on September 10, 2015 hosted by the Caribbean Association of Investment Promotion Agencies (CAIPA).

The  summit forms part of a larger project developed by CAIPA to promote investment opportunities in the Caribbean to potential investors in Europe. BelizeInvest highlighted a list of upcoming projects that were selected based on a criteria suggested by CAIPA. The projects include:

* GSR Energy Ltd. : Bio ethanol plant and co-generation facility
* Orchid Bay Belize : Commercial residential and resort development
* Mel Ltd. : Development of an international airport in PlacenciaIMG_4003

Following the summit, a survey was conducted to evaluate BelizeInvest’s service during the summit. The table below highlights the feedback:

Indicator’s Assessed Rating( with 5 being the best)
B2B Meetings 5
General Interactions 5
Support and Facilitation 5
Overall service and experience 5
Testimonial attesting to
BelizeINVEST’s service delivery:
Provided and
Publishable

Congratulations to the BelizeInvest team for its continued success!

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Brian Lin (right) , Manager of Investment Generation, Beltraide

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