A paradise for foreign investment
policy and regulation at the Ministry of Trade, Investment Promotion, Private Sector Development and Consumer Protection, specifically pointed out that renewable energy is yet another feasible area to invest in as it provides another alternative. “There has been growing demand for energy, Belize now imports a significant portion of its energy demands from Mexico, which is very costly,” he explained.
With Taiwan’s advanced technology in aquaculture, this area is another potential opportunity. Hero Balani, investment associate of BelizeINVEST, mentioned that with its natural resources, geographic advantages and trade agreements, aquaculture and agro-processing opportunities are also other areas with strong potential.
“For example, the production and export of seaweed and sea cucumber are some opportunities we are looking for,” said Balani. He added that many call centers are also setting up in the country as the local employees speak relatively unaccented English in comparison to other countries that are well-known for call centers at the moment. Settng up call centers in Belize also solves time zone issues, by having enterprises provide a 24/7 service.
Overall, Blake, Lin and Balani all concluded that Belize is looking for products that require low-density (not mass production) and high value. In other words, the market differentiation is to have “eco-friendly” and “niche” products and services. Entrepreneurs who desire to expand their market beyond Asia and dive into the most potentially rewarding market, as well as to have a relaxing retirement in the future, should take Belize into intensive consideration.
From Left, Hero Balani, investment associate of BelizeINVEST, Brian Lin, director of BelizeINVEST, Lincon Blake, director of investment policy and regulation, Ministry of Trade, Investment Promotion, Private Sector Development and Consumer Protection, Cherie Nisbet, ambassador of the Embassy of Belize, Republic of China, Ingrid Y.W. Hsing (邢瀛輝), director of Central America Trade Office (中美洲經貿辦事處), John C.C. Lai (賴建中), director-general of the Economic and Trade Affairs department of the Ministry of Foreign Affairs (外交部國際合作及經濟事務司司長) and Hung Yang (楊宏), deputy director-general of the Department of Investment Services, Ministry of Economic Affairs (經濟部投資業務處副處長), pose for a photo at the Belize Business Investment Seminar yesterday.