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The Belize Trade and Investment Development Service (BELTRAIDE) is responsible for promoting investments in Belize’s priority sectors. It also maintains statistics and information on establishing new businesses in Belize. This agency also manages the Government of Belize’s investment concessions and incentives programs. Priority sectors for investment include agriculture, agro-processing, aquaculture, logistics and light manufacturing, food processing and packaging, tourism and tourism-related industries, business process outsourcing (BPOs), and renewable energy. In 2016, BELTRIADE introduced the Belize Investment Portfolio to better match and fast track investment priorities either through public-private partnerships or investor to investor opportunities. For further information, visit the Belize Trade and Investment Development Service website.
Tourism remains atop the list of industries of economic importance for Belize as its proximity to the United States, English speaking population, and tropical climate continue to attract tourists in droves. Entrepreneurs consistently seek ways to improve tourism product delivery, tourist safety, and the uniqueness of Belize’s tourism product. This allows for further investment opportunities in tourism infrastructure and support services including cruise terminals, hotels, auto rentals, Wi-Fi access, and food supply.
A large percentage of Belize’s population speaks English, Spanish, or a combination of both, thus creating an emerging market for business process outsourcing (BPO) (call centers) that possess the capacity to cross-train the workforce to perform work in various customer service areas. The BPO sector is comprised of over 25 centers employing over 3,000 agents.
Belize’s available arable land is well suited for investments in Agriculture and Agri-business, though investors should be aware of applicable government land use policies (given the fragility of Belize’s environment and dependency on eco-tourism). The country currently produces primary products including beans, rice, citrus, sugar, bananas, corn, and cacao. Value-added agri-business investments are very much needed; Belize lacks affordable food packaging and preservation options. Growing threats of disease and natural disasters present opportunities for potential investors to assist. Opportunities also exist for the cultivation of fresh fish and shrimp as aquaculture has re-emerged in Belize.
Business opportunites in Belize
- Research and development;
- Advertising and public relations;
- Consulting services, including, but not limited to, economic, scientific, environmental, technological, managerial, marketing, human resources, computer and auditing consulting services;
- Creative industries;
- Production of blueprints, architectural and engineering services, and project management;
- Professional services such as legal, tax and accounting services to companies or persons outside of Belize;
- Centralized management services, including, but not limited to, strategic direction, planning, distribution, logistics and budgetary services carried out by the headquarters or similar regional offices of an entity engaged in rendering such services;
- Centers for electronic data processing;
- Development of licensable computer software;
- Call centers;
- Shared services centers, including, but not limited to, accounting, finance, tax, auditing, marketing, engineering, quality control, human resources, communications, electronic data processing, and other centralized management services;
- Educational and training services;
- Hospital and laboratory services;
- Marketing centers;
- Trading companies;