Ground Broken for New Free Zone Access Road
The Corozal Free Zone received over a million visitors in 2022, and there has reportedly been a forty-two percent increase in vehicles and persons since then. So the opening of a refurbished access road to the facility is expected to attract even more business. Today documents were signed between officials from the Central American Bank for Economic Integration, CABEI, and the government. The new road is also expected to attract even more visitors to the zone, which has also recorded an increase in business activity and employment. The two-point-six-kilometer access road stretches from the old bridge at the Rio Hondo to the entrance of the free zone. News Five’s Marion Ali was present for the ground-breaking ceremony today and filed this report.
Marion Ali, Reporting
The two point six kilometre length of road from the old bridge at the Santa Elena border to the entrance of the Corozal free Zone came through a non-refundable grant of one point nine million dollars, with the government investing another million dollars towards the project. Prime Minister John Briceno explained that the stretch of road will play a significant part in boosting the economy in the area.
Prime Minister John Briceño
Prime Minister John Briceño
“When we took over there, the free zone, the infrastructure, well that was in November 2020, the free zone was closed down and the infrastructure was in a really deplorable state and with the same funds that the Free Zone has been generating, we’ve managed to kind of fix the entrance a little bit, but we knew we had to go a long way. So we managed to convince CABEI to give a grant to the Taiwan Fund. And, they are making a donation, I think it was about $1.9 million, then the Government of Belize is putting in another a million, so we’re going to be paving from the Santa Elena Bridge all the way to the entrance of the free zone. So it’s important, it’s significant for especially for, as Neri Ramirez, the C.E.O. said, that we have over a million visitors last year.”
Gisela Sanchez Maroto
The new President of CABEI, Gisela Sanchez Maroto, said that this was her first project that she was overseeing and she hopes to work closely in the future with Belize again.
Gisela Sanchez Maroto, President, CABEI
“The support that CABEI is providing today to the Government of Belize through the Ministry of Infrastructure Development and Housing reaffirms CABEI’s commitment to improving key aspects of the country’s sustainable competitiveness, and if I can add, sustainable development. I really admire the way you are leading this country in terms of developing in a very sustainable way. We hope this is going to be one of many projects that we’re going to do together. In the near future. As the CEO was mentioning, this is my first official mission for CABEI, and I believe there are no coincidences. Everything happens for a reason, so it reaffirms my commitment to Belize to support you in any way possible.”
Meanwhile, the C.E.O. of the Corozal Free Zone, Neri Ramirez shared that the free zone has faced many challenges since 2020, but has grown leaps and bounds since then.
Neri Ramirez
Neri Ramirez, C.E.O., Corozal Free Zone
“We found a free zone that was closed to the public, no functional banking institution, in severe debt, and infrastructure that was in desperate need of rehabilitation. There was no time for excuses, and we got straight to work. Today, I can proudly report that the Corozal Free Zone welcomes over 1.1 million visitors, an increase of 22% since the past year. It also generates $540 million Belize in sales. It’s an increase of 34% since we assumed office. It also contributes $24 million Belize dollars in social fees annually that is being used for educational education and health and fosters 3,000 jobs for Belize – 1,500 direct and 1,500 indirect, and it can be more.”
The access road is expected to be complete within six months time. Marion Ali for News Five.
