New Investments to Prop Up Belize Economy

Dean Barrow

The Prime Minister spent a few minutes of his closing statement listing key investments either underway or coming soon that he says will prop up the Belizean economy. From a Four Seasons Hotel in Caye Caulker to agricultural projects in Cayo and Stann Creek District, the Prime Minister argues that there is no shortage of foreign direct investors’ confidence and willingness to partner with established Belizean entities.

Prime Minister Dean Barrow

“Was it just yesterday, that Sumitomo/Fyffes bought the old Sorenson banana farms for twenty-two-point odd million U.S. dollars? They will rehabilitate those farms, clean them up, and put them into the kind of production that will see the banana industry go from strength to strength. (Applause) What about the fact of the Four Seasons, inking the deal now with respect to Caye Caulker. I don’t know if my friend and colleague, if you actually gave them just what the first phase alone [means] in terms of investment dollars – two hundred and fifty million U.S. dollars! (Applause). You know that the Cayo – what are they called now? Cayo Grains and Valley of Peace Company. Madam Speaker, I’m trying to be as diversified as the member for Cayo South’s ownership of land is; I’m being diversified, I’m going all over the place. Forty million dollars these people have put into grains; they just bought Texmar; they’ve also invested in Santander. Madam Speaker, I don’t know if my friend the Minister of Trade spoke about the LPG landing terminal – what’s the investment going to be, thirty-odd, forty-odd million dollars? being spearheaded by locals, including our good friend Gilly Canton, who I must say is doing a bang-up job in terms of what is going to be a public-private partnership. The equity participation in that – while it’s going to be a Belizean headed venture, there is equity participation as well from abroad in terms of foreign direct investment.”