The annual report compiled by the International Monetary Fund which focuses on Belize’s economic performance includes recommendations for the growth and strengthening of certain areas of production, distribution and trade, as it relates to the consumption of goods and services. The business community is presently reviewing the IMF report ahead of the 2019 fiscal calendar […]
The designation of Chetumal as a commercial free zone to be established in early 2019 is good news for Belizean consumers, but is raising serious concerns in the local business community. Not only will the cost of goods and services be reduced considerably across the Mexican border, but companies on this side of the Rio […]
There is another programme that Belize Audubon Society helped to establish in Copper Bank Village – it’s called the Community Credit Enterprise. Back in 2009, Audubon sought the assistance of donors and other partners, including an organization from Costa Rica called FINCA which provided the training to implement the programme. The aim was to fund […]
Last week, Mexico’s President-Elect, Lopez Obrador announced plans to transform Chetumal into a free zone where VAT, the value-added tax, will decrease from sixteen percent to eight percent on goods and services. That’s a reduction of fifty percent which is bound to attract consumers from this side of the border and likely to have a […]
According to President-Elect, Lopez Obrador, the free zone initiative is set to launch in January 2019; that is in two and a half months. The Mexican government will first focus on transforming its cities and towns into free zones along its border with the U.S.A. after which attention will be focused on Chetumal. Minister of […]
In other economic news, the International Monetary released its preliminary report on its findings on Belize’s economy last month. The IMF noted that the economy is strengthening but the I.M.F. is recommending that G.O.B. further cuts the nation’s debt and improves the business climate to encourage investment. Minister of State Responsible for Investment, Trade and […]
The I.M.F. report also sighted areas of weaknesses and recommended drastic measures such as an increase in the G.S.T. and a reduction in the number of government employees. P.U.P. Leader John Briceño has his own prescriptions. He says that the Government should address three fundamental issues for the economy to improve. He identified these as […]
Saint John’s Credit Union held its annual Father Marion Ganey Quiz Competition in Dangriga on Friday. It’s a competition to raise awareness of financial literacy and the credit union movement among parents, teachers and students. The students from six Dangriga schools studied two hundred questions about the credit union movement in Belize in order to […]
Mexico’s President-elect, Andrés Manuel López Obrador stated earlier this week that Chetumal will return to a ‘free zone’ status. While visiting Cancun, the president-elect announced that on January first, 2019, the Mexican government will roll out the programme in the entire northern border area of Mexico. Thereafter, it will be implemented in Quintana Roo along […]
Mirab has a new department store and today it opened for business, offering a high-end shopping experience. The Mirab store relocated from the Fort Street area to the Philip Goldson Highway where its one hundred thousand plus square foot store boasts a number of new additions to its product lines and departments, including the Ashley […]
Today’s opening of Mirab’s new department store drew hundreds of Belizeans and several high profile personalities. Businessman John Greif the Third is one of those persons in attendance. The President of Tropic Air, who has invested millions in Belize, had only good things to say of the investment. Greif, however, feels that locals who make […]
A workshop hosted by the CARIFORUM-European Union Economic Partnership Agreement on business to business strategic networking was held today at the Biltmore. The seminar brought together local producers, as well as service providers to learn about the importance of international market standards for goods and services. Dr. Leroy Almendarez, Executive Director, BELTRAIDE “The major […]
Zamani Moodie, advisor for market intelligence with the Caribbean Export Development Agency discusses the role of the agency in the workshop, as well as the technical assistance provided by the European Union. Zamani Moodie, Advisor, Market Intelligence, CEDA “Caribbean Export is co-hosting this event with BELTRAIDE and the European Union. It‘s part of our […]
If you are a vehicle owner and if your car runs on regular gasoline, we advise you to visit the nearest gas station after this newscast. That’s because the price per gallon of regular fuel will increase at midnight tonight. It will increase by sixteen cents from eleven dollars and four cents to eleven dollars […]
The cost of living went up in the month of August. Data from the Statistical Institute of Belize shows that the cost of living inched up by one percent due to the hike in the price of fuel. The prices for food items and non-alcoholic beverages, however, went down. The S.I.B. also reports that imports […]
A team from the International Monetary visited Belize earlier this month and met with government officials as well as with the private sector and unions. It has released a preliminary report on its findings. While the IMF says that Belize is on the road to economic recovery and that government debt has been reduced, it […]
There is an increase in the price of premium fuel which kicks in at midnight. The Belize Bureau of Standards says premium will now sell for eleven dollars and seventy-seven cents, a seven-cent increase per gallon. The prices per gallon for regular will remain at eleven dollars and four cents, diesel at ten dollars sixty-nine […]
Tabled last week Friday in the House of Representatives was the Report of the Auditor General for the period April 2013 to March 2014. While the purpose of the audit is to form an opinion based on the Financial Statements, it does not identify all possible irregularities. The Auditor General, Dorothy Bradley, however, points out […]
The Statistical Institute of Belize says that the Gross Domestic Product went up by five point four percent. It is a relatively big growth when compared to the second quarters of the past few years – where we’ve seen negligible growth. But while that is good news for the economic activities, there were reduced export […]
A brand management training entitled “Achieving Competitive Advantage through Brand Positioning” was held today at the Biltmore Plaza. It was organized by Chamberlain Consulting and Galen University and seeks to help with developing companies. In collaboration with BELTRAIDE and the Belize Chamber of Commerce and Industry, branding is what consumers believe, feel or think when […]
The prices for a gallon of premium gasoline increased at midnight on Tuesday. It went up by ten cents putting the new price at eleven dollars and seventy cents. The price for regular fuel is ten dollars and ninety-nine cents after increasing by three cents last week. Diesel fuel remains unchanged and sells for ten […]
The Belize Sugar Industries has announced that it will invest an additional forty million dollars over the next eighteen months to improve efficiency and further increase value-added production to the benefit of the sugar industry. In September 2017, B.S.I. invested twenty-two million dollars to increase production of value added, direct consumption sugars at its Tower […]
The Department of Youth Services has a six-week cosmetology training taking place at the Yabra Community Center. The training will see the ladies get a level one certificate which they can use to generate employment opportunities. The programme is being funded by the Youth and Community Transformation Project. Today, we spoke with PR Officer Renata […]
The Chamber of Commerce and Industry admonished the Government back in June for the exceedingly high fuel taxes. Prime Minister Barrow later responded saying that taxes weren’t going down. In the same letter to Chamber President Nikita Usher, the P.M. wrote that a cut-down on fuel taxes would cause a hit in G.O.B.’s budget and […]
A consultant from Presidential Agency for International Cooperation of Colombia began a two-day workshop in Belize on how to grow businesses. Yeison Laiton of the Entrepreneurship and Business Development for Mesoamerican countries in that South American country is providing tools on best practices for economic development in Belize, taking successful models from his home country […]
