March 2017 | Business View Caribbean

76 77 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.”