30-31 / 120
30
31
and South America.
n
Sustainable Energy–Belize has consider-
able potential for a variety of renewable re-
sources it can export to neighboring countries,
including: biomass energy; solar energy; hydro
power; wind power; biofuels such as ethanol,
biodiesel, and waste to energy.
n
Light Manufacturing and Logistics –Belize
has two main maritime ports with one under
development; one international airport with
one under development and others proposed;
1,900 miles of roads and highways enabling
cross border trade with Mexico, Guatemala, and
other Central American markets; and a quality
labor force that works for competitive wages.
Opportunities include: packaging, assembly,
and value-added agricultural and aquaculture
products.
In order to further bolster growth in these
sectors, the Government of Belize provides a
range of incentives, including its: Fiscal Incen-
tive (FI) Program; its Export Processing Zone
(EPZ) Program; and its Commercial Free Zones
(CFZ). Endorsed economic activities that qual-
ify for incentives include: tourism, agriculture,
forestry, agro-processing, arts and crafts, health
care, manufacturing, auto rental, and informa-
tion & communication technologies.
Taegar-Panton admits that, at present, Belize
is still a small economy. “Scale is an issue for
We haven’t even scratched the surface
of our potential,. We will get people
to see what we see, and believe in us
enough so that they will be prepared
to partner with us in building a young
nation from a developing country to a
developed one.
Hon. Tracy Taegar-Panton
The Ministry of Economic Development, Petroleum, Investment, Trade, and Commerce
us,” she says, “and it’s sometimes
challenging to compete with
large economies. So our primary
concern is putting in place the
policies and incentives and the
regulatory framework that pro-
vides a stimulus for both invest-
ment and trade, as well as the
infrastructure that is required so
that we can build our capacity
and have the kind of certifica-
tion processes that will allow us
the access that we require. And
we cannot do that without the
involvement of the international
investment community.We need
to attract the right type of inves-
tor that is in line with the stra-
tegic goals of the government,
while, of course, being driven
by their need for a reasonable
return on their investment.”
Yet, Taegar-Panton is optimis-
tic that Belize is well-positioned
for growth. “We haven’t even
scratched the surface of our po-
tential,” she asserts. “We will get
people to see what we see, and
believe in us enough so that they
will be prepared to partner with
us in building a young nation
from a developing country to a
developed one.”