Belize and S. Korea improve relations

Born out of a diplomatic visit by Prime Minister Said Musa to South Korea, today relations with that Asian country have spawned several benefits for Belizeans. The main one has been support for the Youth for the Future initiative, a brainchild of the P.M.. To date, South Korea has provided funding and made donations in the form of sporting equipment including volleyballs, basketballs and softballs to Y.F.F. Today, during brief ceremonies at the Youth for the Future headquarters near the BelChina Bridge, South Korea symbolically handed over two Kia vehicles to the program. According to Prime Minister Musa, this is only beginning of a mutually beneficial relationship between the two countries.

Prime Minister Said Musa

“Educational programs, training programs, but as well as new investments. One of the things we are trying to do is build up a pool of resources, not grant money now, but soft loans to build up the enterprise fund which we would be able to on-lend to the small farmers and business bank to young people who want to start up a business of their own, become young entrepreneurs after leaving school. So it’s training to prepare them for work and also giving them that seed money to start up their business of their own.”

Janelle Chanona

“And in turn we would help Korean investors get established in Belize with concessions and so forth?”

Prime Minister Said Musa

“Yes indeed. Just like how help foreign investment from any other country who are serious investors and want to make a difference, who want to utilize Belize’s, we consider, strategic position in Central America and the Caribbean.”

According to the Government, so far Belize has received more than three hundred thousand U.S. dollars in assistance from the South Korean government. The biggest Korean private investment in Belize is a factory to process limestone from the Cayo District into high quality marble for the export market.