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A Belize Investment Summit, A Closer Look

The PUP would certainly ask for a bonus grade for extracurricular work with the first-ever Belize Investment Summit.

The event wrapped up the second of its two-day schedule of activities at the Gran Caribe Resort on the island of San Pedro this evening.

Our news team traveled to the island town yesterday for coverage of the Summit, and tonight, we take a close look at the business forum's main features. Daniel Ortiz has that story:

The Briceno Government has presented the Belize Investment Summit as a clear sign that the country has a renewed focus on promoting a strong business climate.

Their idea of an end-state commercial haven pictures an environment so fertile that sound homegrown business ideas - which lack funding - can prosper and co-exist alongside foreign investment projects.

In this "Invest-opia" all opportunities and ideas are welcomed, and hence the theme: "Belize: Open For Business".

Hon. John Briceno - Prime Minister
"We are fully convinced that we can create an environment conducive to economic transformation. Investment provides an opportunity for growth in micro, small, medium, and large enterprises. I am convinced that if we create initiatives that include access to finance and a more seamless enabling mechanism that we can rebuild our economy with MSMEs at its foundation and without compromising the economic initiatives of the larger enterprises. We also must look at the non-traditional industries and shouldn't forget the contribution of the service industries to our gross domestic product."

Hon. Anthony Mahler - Minister of Tourism & Diaspora Relations
"The entire tourism product in Belize is made up of - I would say 95% of small/medium enterprises, even micro-enterprises, and so, we have to continue focusing on helping them through these difficult times, but we also have to attract some bigger developments so that we can expand the tourism product."

Hon. Jose Mai - Minister of Agriculture & Food Security
"We have a habit in Belize of producing primary goods. We produce cacao beans, and we import chocolate. We produce and export corn, and we import Maseca. That tells a lot. That tells a whole big story. We need investments in the agro-processing sector, and if I were an investor, and I came to Belize, I'd be looking in this particular area."

Hon. Abner Andre Perez - Minister of the Blue Economy
"We are saying to the world and to the region that we are open for business, but easier said than done because when you say Open for Business, what is it that we're offering? And I think the most important thing [the] we recognize as a new government is a red tape, the bureaucracy the exits."

Even Opposition Leader Patrick Faber, who is no cheerleader for the Briceno administration, thinks that this type of investment promotion is necessary.

Hon. Patrick Faber - Leader of the Opposition
"My presence here indicates, I hope, that we are a team player. We're a partner in helping to get things rebounded for Belize's economy. Clearly, an event like this is a very costly one, and there are those criticisms that will come, I am sure, but we believe that if this type of investment will yield the kind of productivity, the kind of investment that the government is hoping to achieve here, then it might be all worth it."

Government invited Stephen Harper, the former Prime Minister of Canada, as the lead guest speaker and he offered sage advice on how to tap into Belize's business potential.

Rt. Hon. Stephen Harper - Former PM, Canadian Government
"This country does have exceptional strengths and potential. I suggest I suggest a deliberate and strategic focus on your education sector. Ensure that your own citizens have the opportunity to develop the skills that align with your economy starting with expertise. Strive to be digital-first in every way. Be the most connected, digitally-forward country in the region. Belize could certainly use its geographic and cultural position to be much more of regional trade, investment, and distribution hub. Geo-politics, which once made this place very isolated in this region, now make it that kind of a potential hub, but the legacy of that isolation is your relatively under-developed infrastructure."

As part of the first day of activities, The Belize Government and Inter-American Development Bank signed a loan agreement for the Development Finance Corporation. The Head of the DFC said that it is to provide funding for smaller entrepreneurs who are trying to stay open for business.

Henry Anderson - Chairman, Development Finance Corporation
"We provide what you call counter-cyclical finances, meaning when you need it the most, we are there. So, we're working with companies that generate foreign exchange or prevent us from having to use the foreign exchange, that creates jobs or to hold workers. So, what you saw today was the signing of a loan for 15 million US dollars. It's aimed at micro, small, and medium enterprises. The loans can go up to 500 thousand US dollars, or a million Belize."

And for those entrepreneurs who are struggling to find investors to fund their business ideas, the Summit is offering a sort of nursery/incubator, where they can approach investors and make a sales pitch. We met one of those hopeful entrepreneurs yesterday.

Hazelita Kuylen - Representative, Belize Sunrise Limited
"We're looking for investors or investment in order to invest in our rice and corn production. We are in the production and the export of rice and corn. There is a lot of shortage of corn in Guatemala, and in Mexico - and also rice. So, we have a lot of contacts both in Mexico and Guatemala that have contacted us, personally, me and my other two business associates, and they are willing to purchase all the rice and the corn that we produce, once we are in production."

So, how will the Prime Minister measure the success/or failure of this Summit?

Hon. John Briceno
"I think the important thing is that we can see where people - business persons are meeting face-to-face and that are prepared to work out agreements among themselves, work out deals - as we say in business parlance - where they can make investments. Now, these investments are not going to materialize tomorrow or next week, but certainly, by next year, we could start to see some of these investments starting to take place."

In our interview with the Prime Minister, he asserted that based on the feedback from Summit attendees, there are positive discussions underway that could lead up to, quote, "over 500 million dollars" in investment in sectors such as tourism, agriculture, energy, business process outsourcing, and infrastructure development, to name a few.

We'll wait and see how many of those commitments actually become a reality.

Channel 7

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Investment Summit Hopes to Jumpstart Economic Rebound

Themed "Belize Open for Business," Belize's first Investment Summit took place this week in San Pedro. The initiative aims to jumpstart the rebuilding efforts, restoring the country's ravaged economy, to at least to pre-COVID status-if not better. Speakers on the panel discussions hovered over what Belize needs to do to become more financially steady and globally competitive, while Belizean business owners hoped they could attract investors of their own.� Marion Ali reports.

Marion Ali, Reporting

If we are to go by the information shared and the encouragement received from day one of the Summit, one would say that Belize is poised for significant foreign investment in the near future. And Prime Minister John Brice�o is convinced that Belize can create an environment conducive to economic growth.

Prime Minister John Brice�o

"I'm convinced that if we create initiatives which include access to finance and a more seamless enabling mechanism, that we can rebuild our economy with MSME's at its foundation and without compromising economic initiatives of the larger enterprises. We are a naturally endowed country and must take advantage of those things that make us unique, that make us unique."

PM Brice�o said that the Government is working on a National Investment Policy and Strategy that will govern how business is conducted in Belize. The policy will lessen the burden of starting up new businesses in Belize by removing unnecessary bureaucratic procedures and processes and by digitizing what can be.Minister of the Blue Economy, Andre Perez, says that to ensure the protection of the conservation laws and the development of the National Development Policy, there is meaningful consultation taking place.

Andre Perez, Minister of the Blue Economy

"We have all stakeholders involved. We're talking about NGO's, which are partners with us. We need to work along with them, private sector, the communities, Government officials as ourselves, we consulted."

Once the proper policies are in place, Belize can achieve economic success, opined the keynote speaker, former Canadian Prime Minister, Stephen Harper. He says we already have so much already going for us.

Stephen Harper, Keynote Speaker, Investment Summit

"You have abundant natural beauty, a diversified resource export base, including valued-added sectors in agriculture, all with a stable, democratic, uncomplicated political system, a stable currency, and you have had a pretty policy environment, low taxes, which is something that always, always matters, including no capital gains tax. Taken together, that is a pretty impressive list of strengths."

One local sector that is looking for direct foreign investment is dairy milk production. Its representative at the Summit, Ernest Thiessen, is hoping that the policy makers will give local dairy milk producers access to a bigger portion of that market.

Ernest Thiessen, Representative, Belize Dairy Association

"Only twenty percent of the stake is being produced in the country is being produced in the country so, it would be a shift so local production would rise and imports would have to be cut down or even maybe just put on an even playing field where we have taxes put on the (imported) product where we could grow our industry to the point where we could be more self-sustainable."

Harper said that potential Canadians investors would likely look toward tourism and infrastructure development. To add to that is Canadian investor, Bob Dhillon, who has been investing in Belize for the last twenty years.

Bob Dhillon, Canadian Investor

"I think you will see a tremendous amount of boom now in tourism, real estate, retirees. Don't forget Canada's got twenty-five percent gray power. And they're all looking for a place to retire and spend the winters. But the first step is how do we get the people into Belize. Once you come here it sells on its own. We don't need anybody selling Belize. Belize sells on its own."

During the opening ceremony, the Inter-American Development Bank signed a loan agreement with the Government and the Development Finance Corporation. The fifteen million-dollar investment will be used to protect employment and promote the economic recovery of micro, small and medium-sized enterprises in the agriculture, fisheries and tourism sectors. Marion Ali For News Five.

Channel 5

The US Embassy was glad to partner with " Belize Investment Summit 2021" which was successfully held in San Pedro,- la isla bonita, and be part of the "Start-up Pitch Competition", whereby one outstanding entrepreneur can win capital for its start-up business. The Competition is made possible through the "Enhancing the Economic Empowerment of Women in Latin America and the Caribbean in the COVID-19 Post Pandemic Era project" sponsored by the Government of Taiwan.

In the Summit, Ambassador David Kuan-Chou Chien was honored to meet Hon. John Briceno, Prime Minister of Belize, the Right Hon. Stephen Harper, Former Prime Minister of Canada, Hon. Richard Mart�nez Alvarado, Vice President for Countries of Inter-American Development Bank (IDB), Governmental Ministers of Belize, business leaders and entrepreneurs.

The Embassy not only admires the efforts made by the excellent team led by Prime Minister Brice�o, but also looks forward to seeing a more prosperous economy in Belize in the near future. The Embassy of Taiwan will continue to work closely with the Government of Belize to enhance economic recovery and hence further improve the welfare of Belizean people.

Belize's First Investment Summit Hailed as a Success

The Government of Belize, through the Office of the Prime Minister, held its two-day Belize Investment Summit (BIS) 2021 in San Pedro, Ambergris Caye, on November 10 & 11, under the theme "BELIZE: OPEN FOR BUSINESS". The BIS represents a commitment by the government, through Plan Belize, to foster export-led growth through diversified investments and with a robust strategy to make the necessary legal, policy and procedural changes, to build investor confidence, for foreign and local investments.

The BIS featured key discussions by ministers of government and industry experts on developments and opportunities in sectors such as Agriculture, Food Security, Blue Economy, and Civil Aviation and Tourism & Diaspora Relations. Former Prime Minister of Canada, the Rt. Hon. Stephen Harper, keynote speaker at the summit, congratulated the government on renegotiating its major external debt, the Super Bond, replacing it with the Blue Bonds which provides much-needed fiscal space to accelerate economic recovery. He also commended Belize's exceptional strengths and potential in relation to our multilingual population, British common law, geographic location, abundant natural beauty, diversified resource export base, political stability and proactive stance in making the necessary policy changes and adaptation.

Speaking on investments, Prime Minister Brice�o stated that he is "convinced that if we create initiatives which include access to finance and a more seamless enabling mechanism, we can rebuild our economy with MSMEs at its foundation without compromising economic initiatives of the larger enterprises." He also addressed the challenges faced by foreign and local investors, which have made Belize not as competitive as other countries in the region. He indicated that the government's response is crucial with Cabinet focusing on holistically addressing the rules, legislations, and policies to improve doing business in Belize.

Another important highlight, was the awarding of much-needed start-up finance to four entrepreneurs, with great potential to contribute to market expansion. We must also say thank you, to our major sponsors, the Embassy of the Republic of China (Taiwan) through the ICDF, the Inter-American Development Bank (IADB) and the United Nations Development Program (UNDP).

The Belize Investment Summit had the participation of investors from Jamaica, USA, Czech Republic, Mexico, Bangladesh, Canada, El Salvador, Costa Rica, Grenada, Spain, Panama, UK, Algeria and Belize, who were a part of the matchmaking sessions with over 52 local companies seeking investments.

The Government of Belize remains committed to its mandate of promoting Belize as an investment destination with a plethora of opportunities.