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BELTRAIDE HANDS OVER NEW BUILDING TO UB


The Belize Trade and Investment Development Service (BELTRAIDE) , officially handed over a new security and maintenance facility to the University of Belize (U.B.).

Hon. Tracy Taegar-Panton, Minister of State in the Ministry of Economic Development, Petroleum, Investment, Trade and Commerce with responsibility for BELTRAIDE, handed over the keys to the new building to Mr. Alan Slusher, President of the University of Belize  during a brief ceremony held this morning at the U.B.’s Faculty of Management and Social Sciences Campus in Belize City.

Hon. Tracy Taegar- Panton – Minister of State in the Ministry of Economic Development, Petroleum , Investment, Trade and Commerce
Allan Slusher – President, University of Belize

The L-Shaped building is approximately 2,000 sq. ft. and was built on a 36” x 14” reinforced concrete strip footing raised 24” above grade level with 6” reinforced core filled blocks. The walls comprise of 2” x 4” timber-frame cladded on the outside with construction latte paper and ¾” timber resembling plycem known  as cempestre plycem.  The inner walls are also timber-frame cladded with ½”drywall. The same applies for the ceiling. The roof comprise mainly of 2”x 6” rafters secured with hurricane clips and straps and cladded with red galvalume roofing.

The building is comprised of two sections – one for the U.B. Security Staff and the other for the U.B. Maintenance Department.  Each section comprises of an open office space, a private office and restrooms for each area.  The building is valued at approximately $60,000 Belize dollars and was built by Contractor Sergio Luna.

The facility is a part of a development agreement between BELTRAIDE and the University of Belize that was signed on September 17th, 2015 which entails the construction of the Belize Enterprise and Innovation Institute (BEI2), which will be located on the Faculty of Management and Social Sciences U.B. Belize City Campus. BEI2 will house two of BELTRAIDE’s technical units: SBDCBelize and EXPORTBelize and is designed to nurture entrepreneurship and innovation and strengthen Belize’s enterprise competitiveness.

The University of Belize and BELTRAIDE continues to foster a very productive and mutually beneficial relationship for the development of Belize!

 

 

 

 

 

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Caribbean Business News Highlights for Apr 08–21, 2013, Spotlight on Belize


Caribbean business news highlights from Issue No. 8 of Market Dynamics Caribbean, our comprehensive research and analysis report, published every two weeks.

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Bi-national Tourism working group Belize-Guatemala border zone was formed.


Bi-nationalFebruary 14th, 2013– On January 18, 2013, thirty-three members of the public and private sectors in Belize and Guatemala, along with representatives from the local associations and communities in the border area, were integrated into the Bi-national Tourism Working Group Belize-Guatemala Border Zone. This group function is to organize dialogue and inter-sectoral coordination and to promote and include participation of key stakeholders in the management of local development through sustainable tourism. Continue reading “Bi-national Tourism working group Belize-Guatemala border zone was formed.” →

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Belize’s Path to Medical Tourism



Attendee/Author:  Ann Kuffner

There’s been considerable buzz about whether Belize is ready to dip a toe into the field of medical tourism. Tourism is the major source of revenue for this small country. Medical tourism could provide a significant boost in revenue for the country. But medical tourism is rife with potential pitfalls.  Recently the Inter-American Development Bank (IADB) and the Belize Trade and Investment Development Service (Beltraide) initiated the first step in this process. They held their first public workshop on August 3rd.  It was held at the George Price Center, in Belmopan.

The IADB hired a medical tourism expert to lay the groundwork to develop Belize’s sustainable medical tourism plan.  Their Costa Rican consultant, Mr. Massimo Manzi, moderated the recent workshop. He presented an overview of the study he’s leading.  Mr. Manzi is the Executive Director of ProMed (the Council for the International Promotion of Costa Rican Medicine).  He developed Costa Rica’s highly successful medical tourism model.  He now offers his expertise to other countries to assist in developing their medical tourism models.

Mr. Nicholas Ruiz, the Executive Director of Beltraide, opened the meeting. He talked about the attractive opportunities in medical tourism.  He repeatedly noted that Beltraide is committed to developing a sustainable medical tourism approach that will benefit Belize, and Belizeans.

“The over-riding idea is that we want Belizeans to participate in this industry.” Continue reading “Belize’s Path to Medical Tourism” →

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The Importance of Attracting Foreign Direct Investment


Foreign Direct Investment (FDI) refers to the flow of capital from one nation (home state) to another (host state). Typically, this is done by acquiring shares in the locally established enterprise or by investing and establishing fresh ventures in the host state. In an era when globalization prevails, countries worldwide are scouting actively to attract FDI. Unlike traditional forms of debt financing, FDI serves as an ideal debt-free approach to economic development that ultimately facilitates trade, jobs creation, transfers of know-how’s and technologies in the host state.

Developing nations such as Belize, have realized the instrumental role that FDI serves in the path toward economic development. According to the Economist Intelligence Unit (2006), it was noted that a rise of one percent in the ratio of the stock of FDI (to Gross Domestic Product), will raise GDP by 0.4%. It is thus well illustrated that for every dollar of FDI attracted, it will contribute about $0.50 toward the overall production of national output – hence raising the economic growth by close to half percent. Continue reading “The Importance of Attracting Foreign Direct Investment” →

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