Minister Fonseca urges private sector to invest in Belize

The meeting was called by the Chamber of Commerce on short notice but that didn’t stop an overflow crowd from jamming the Radisson’s Santa Rita room for a chance to hear the latest from the man who knows the most about Belize’s economy. Speaking without a prepared text Minister of Budget Planning and Economic Development Ralph Fonseca first gave a brief rundown on our major export industries, concluding that citrus showed much promise while shrimp farming and papaya exports would soon be major contributors to the economic mix. With regard to foreign exchange, or the lack thereof, Fonseca admitted there was still a significant problem while maintaining that the backlog has been substantially reduced under the present government. With the banks and D.F.C. awash in money to lend and interest rates on their way down the Minister emphasized that it was time for Belizeans to take the initiative and invest in the productive sector.

Ralph Fonseca, Minister of Economic Development

“Many of us have gotten so comfortable with doing the type of business we have been doing in Belize so long, I guess before I was born. The entire world is changing.

But with all of these things the underlying factor has got to do with us. How much we not only understand what is happening, but how much we are willing to risk in Belize.”

In that changing world, said Fonseca, Belizeans can no longer sit back and wait for opportunity to come knocking at our door, but instead must prepare ourselves and take action.