Five priority sectors
Belmopan - August 1, 2007 -- “Belize the Natural Niche” : The word “niche” comes from the French word meaning - to make a nest, a
recess or opening in a wall, a place of safety or retreat, a position
from which an opening in a market can be exploited, especially a
specialized but profitable segment of a commercial market.
BELTRAIDE, in consultations with key stakeholders across the public and
private sectors, has worked diligently at defining viable investment
and trade promotion strategies for Belize. We believe that we have
succeeded and feel confident in positioning Belize as the Natural
Niche.
Recent initiatives under the development of a National Export Strategy
(supported by the Commonwealth Secretariat and the International Trade
Center in Geneva) have confirmed those priority sectors where it is
believed Belize has opportunities for building competitive advantages,
and which present our most viable prospects for sustainable growth,
export development and trade, and hence for attracting investments. The
prioritized sectors include:
• Tourism
• Agribusiness
• Aquaculture
• Information Communication Technology (ICT)
• Environmental Goods and Services.
Naturally, opportunities exist in all sub-sectors of our strategic
priorities. These niche sectors form the foundation of our economic
goals, as we increase employment opportunities by creating meaningful
and socially uplifting work, increase trade and promotional activities
for Belizean products and services, facilitate local investments, and
attract international investments.
…And now a glimpse of the vast investment opportunities in Belize…
1. Agribusiness
In the area of agribusiness we are projecting more investments in value
added products. Belize’s abundant resources allow businesses to process
raw materials for niche export markets. We see an increase in domestic
production of feedstock such as soybeans, where crops are linked to the
livestock sub-sector by providing supplies for animal, marine and
poultry feed.
Both the citrus and sugar industries need increased investments in
sugar cane fields and citrus orchards as they both need to increase
their factory throughput in order to maximize the factories’
capacities. With the increased production, they would be better
positioned to accommodate additional investments to diversify into
other value added products.
In addition,the processing and conversion of sugar cane for the
production of ethanol as an alternative and renewable source of energy
has renewed investment attraction.
Opportunities also exist not only for the production of bio-diesel, but for the supply of product to process into bio-diesel.
Because of the increased production and the diversity of business
opportunities in the agri-business sector, investments in the
production of packaging materials of increasing significance.
We would like to see the establishment of cooperative-type activities,
whereby processing plants will act as collection agents for local
fruits and vegetables, to be cleaned, processed, packaged and
distributed to domestic and export markets. Belize’s abundant resources
are naturally positioned to target agribusiness for its demand in niche
markets locally and abroad.
2. Tourism
In the area of tourism with the expansion of the international airport,
there is heightened interest in the construction of high- end resorts
and hotels. We also need increased support services to facilitate the
attraction and establishment of new “branded” resorts and hotels.
Tourists, once content to spend their leisure sunning at the beach, now
seek diverse experience-based destinations. There is also the need to
develop new, unique, and innovative tourist products to sustain growth
in our overnight and cruise tourist sectors. Support services are also
important to facilitate cruise tourists in the line of transportation,
safety, and entertainment. We would like to see increased quality
assurance in our tourism industry as the competitiveness of the
regional and international arena has prompted new standards in the
provision of hospitality services. With its beautiful landscape,rich
diversity of culture and ecology, Belize is naturally poised to target
niche tourism for its appeal and demand in international markets.
3. Aquaculture
In the area of aquaculture, opportunities for investment exist in the
cage-farming of fish, and lobster. This technique has proven track
record and as such Belize’s pristine waters can function as natural
capital when investing in this sector. Opportunities exist in shrimp,
Australian Red Claw Lobster, and fin fish such as Tilapia, Red Drum,
and Cobia. Opportunities also exist in value adding to byproducts such
as shrimp waste and other species in order to manufacture animal feed,
cosmetics, health & beauty products. Belize’s ecological
environment is naturally poised to target aquaculture for its demand in
niche local and export markets.
4. Information Communication Technology (ICT)
In the area of ICT, opportunities for investment exist in domestic and
offshore service providers. Due to the geographic shrinking effects of
telecommunications and its supporting systems, companies worldwide are
reducing operational costs by outsourcing many of their in-house data
and information processing services to off-shore areas. The world has
literally become a global village, and with business being conducted 24
hours-a-day, these technical support services are critical in the
international arena. We would like to see increased investments in
offshore call centers, back-office operations, offshore data
processing, and software applications development.
This sector demands a variety of specializations and professionals such
as: programmers, financiers, designers, accountants, and skilled
personnel. It is important that we cultivate the development of this
sector in Belize as these positions enable the creation of meaningful
and fulfilling employment opportunities for our young Belizeans. They
will learn not only about information technologies, but also receive
training in communication skills and customer satisfaction. Belize’s
highly motivated, English speaking and trainable workforce is well
positioned to target ICT by catering to its demand in niche foreign
markets.
5. Environmental Goods and Services
In the area of environmental goods and services, we have investment
opportunities in timber and non-timber value added products.
Investments are needed in research facilities for the creation of
pharmaceutical products, herbal supplements, and other non-timber
forest products. Likewise, there have been increased demands for
manufactured wood products, such as furniture, to meet the needs of
rapidly expanding tourism infrastructure. Many establishments require
high quality wood products as their target markets are niche tourists.
Belize’s pristine jungles are naturally poised to target environmental
goods and services for its demand and appeal in niche local and export
markets.
Conclusion
As an emerging economy, strategically bridging the region of Central
America and the Caribbean, Belize offers plenty of untapped potential
for upscale investments and value-added activities.
The INVESTOR’S MANUAL that we are launching provides wide-ranging
information, facts, figures and procedural advice to guide the local
and international investor as you go about establishing and doing
business in Belize.
Our economy is open for business. There is respect for the rule of law.
With an impressive programme of physical and economic infrastructure
carried out in recent years, supported by heavy investment in human
resources in education and skills training, Belize is ready.In a
climate of political and macro-economic stability, a modern
communication and telecommunication system well advanced, we can now
envision a Belize of tomorrow, a fully developed country, small in
size, but big in heart; a society that is prosperous, socially just
that is holding its own in the world, with balanced, sustainable
growth. For Belize is a good country, blessed by nature with wealth
untold. And what is more, we believe in Belize. We invite you to join
in the experience.
Source: belive.gov.bz