TIPS seeks investors for papaya and shrimp farming

It’s called TIPS, an acronym for the government’s Trade and Investment Promotion Service. Based in Belmopan, the organization is charged with the attraction of new businesses to Belize and the expansion of existing ones. Today TIPS executive chairman Louis Zabaneh invited the press to see how they’re doing.

Louis Zabaneh, Executive Chairman, TIPS

“The idea is to have a one stop shop where investors can come in and get information regarding that country that would assist them with their investment efforts. Also the three promotion organizations assist domestic producers to find new markets around the world.

Two areas that are very attractive at this time in Belize are shrimp farming and papaya production. The shrimp farming industry is in the process of major expansion. We have NOVA Shrimp Farm that has recently expanded their acreage. We have new acreages going in the south and then we have certain people in the south who are looking to start new in this industry.”

The second area of focus for TIPS is papaya farming. Last year papaya exports totaled six million dollars and Zabaneh said they expect to double the acreage in production this year. He did caution, however, that both shrimp and papaya farming are capital intensive businesses which must be managed carefully to succeed. TIPS works closely with a number of private sector organizations and regional bodies.