Ministry of Trade, Investment Promotion, Private Sector Development and Consumer Protection

Articles relating to Corruption in the Ministry of Trade, Investment Promotion, Private Sector Development and Consumer Protection


ROC on BSI ASR BSCFA – Press Release

December 29, 2014 Press Release (For Immediate Release) The Rod of Correction (ROC) has been following with much concern, the developments that have been taking place regarding the start of the sugar cane crop for the Belize Sugar Industry (BSI) and Belize Sugar Cane Farmers Association (BSCFA). What has been become abundantly clear to ROC is the observation that it is definitively possible for the sugar cane delivery season to be declared open, even in the absence of a signed agreement. This, the Rod of Correction would like to encourage the cane farmers of the north to take heed to. […]


NTUCB on BSI ASR BSCFA – Press Release

Press Release (For Immediate Release) December 19, 2014 ASR/BSI CANNOT BE TRUSTED AS THEY KEEP MOVING THE GOAL POST! The National Trade Union Congress of Belize denounces the conduct of ASR/BSI in their seeking to change the terms of the previously settled agreement without going back to the cane-farmers; having already conceded to the oppressive and unfair terms pushed by ASR/BSI with the intervention of no less than the Prime Minister and Deputy Prime Minister. The latest blatant attempt by ASR/BSI to undermine the cane farmers comes in the form of them now not wanting the legally established Sugar industry […]


UnHappy Birthday Belize

I wanted to wait for the festivities to simmer down before I put my thoughts out to my fellow Belizeans. I do not know how you will receive my speech or how it will be scrutinized, but these are my heartfelt convictions. I heard some of the speeches and for the most part heard a lot of pretty flowers, shiny gems and smelt nice perfume that all masked the reality that our nation faces today, 33 years and a couple days old. I won’t go into the pretties too much, you know that is not me. My idea is to […]


OAS Anti-Corruption report on Belize

MECHANISM FOR FOLLOW-UP ON THE IMPLEMENTATION OF THE INTER-AMERICAN CONVENTION AGAINST CORRUPTION Twenty-Fourth Meeting of the Committee of Experts September 8-12, 2014 Washington, DC OEA/Ser.L. SG/MESICIC/doc. 422/14 rev. 4 September 12, 2014 Original: English FINAL REPORT (Adopted at the September 12, 2014 plenary session) SUMMARY This report contains the comprehensive review of the implementation in Belize of Article III, paragraph 9, of the Inter-American Convention against Corruption, covering “oversight bodies, with a view to implementing modern mechanisms for preventing, detecting, punishing, and eradicating corrupt acts,” which was selected by the MESICIC Committee of Experts for the Fourth Round; and of […]


Horizon 2030 the vision for Belize that never came

We still have time, I guess; but it’s slowly slipping away and each day that passes by I see it all going down the drain. I’m not sure how much money was spent to put this Horizon 2030 vision together and the studies that went into it all but so far it was a gross waste of time and money. VISION FOR BELIZE by the year 2030 Belize is a country of peace and tranquility, where citizens live in harmony with the natural environment and enjoy a high quality of life. Belizeans are an energetic, resourceful and independent people looking […]


The State’s Secret: Belize’s Money Laundering Regime

By Grace Kranstover and Ragini Chatterjee Nestled on the northeastern coast of Central America, Belize is often named one of Central America’s most beautiful vacation destinations. With its ornate coral reefs and rainforest, the small English-speaking country has plenty to offer for tourists looking for tropical adventures. Yet, Belize is rapidly becoming known to the international community for attracting many drug trafficking organizations known for transporting marijuana and cocaine into North America. Since the country’s currency is conveniently pegged to the U.S. dollar, Belize also offers nonresidents the opportunity to run offshore accounts. Money laundering has become a prime form […]


Belize – Fiscal Paradise with High Level of Confidentiality

ICO Services, the international company specialized in the formation of offshore companies and offshore banking, has recently expanded their services to the American business world by launching their service of setting up a company in Belize, the only fiscal paradise in Central and South America where English is the official language. This business extension means providing access to the multiple advantages of establishing an International Business Company (IBC) which includes a high level of confidentiality, exempt for all local taxes, no capital requirements and no foreign exchange control. An IBC is the most popular type of offshore corporation as it […]


Belize Political Assessment

Originally Released on 2013-02-13 00:00 GMT The Government of Belize (GOB) welcomes Foreign Direct Investment (FDI) although the investment climate has cooled over the past year. There is a number of disputes between U.S. and other foreign investors and various GOB agencies as well as new legislation that hampers the ability of investors to seek arbitration to resolve disputes. (DOS) The Belize Trade and Investment Development Service (BELTRAIDE) was established to serve as a one-stop-shop for export and investment assistance but bureaucratic red tape may still be encountered when seeking government fiscal incentives. (DOS) Government investment incentives include: Fiscal Incentives […]


Carlisle Holdings Limited (Carlisle) – Holding in BTL

BELIZE CITY, Belize, Oct. 27 — Carlisle Holdings Limited Nasdaq: CLHL; London: CLH), a leader in outsourced facilities services and staffing services announced today that their Chairman, Michael A. Ashcroft had recently agreed to purchase 23.5% of Belize Telecommunications Ltd (BTL) previously held by MCI WorldCom, Inc. A twelve month option to purchase this additional BTL stake at cost plus financing was granted to Carlisle by Mr. Ashcroft which would give Carlisle a controlling interest in the company. Notwithstanding Carlisle’s current strategic direction to develop its services businesses in the United States and United Kingdom, the consolidation of BTL would […]


Pacific Rubiales provides 2014 outlook & guidance and operational update

In 2014 targeting 15 to 25% production growth, E&D capital expenditures of $2.5 billion, progression to development at the CPE-6 and Rio Ariari Blocks and a significant high impact exploration program. Pacific Rubiales Energy Corp. (TSX: PRE) (BVC: PREC) (BOVESPA: PREB) announced today its operational outlook and capital expenditure plans for 2014 and an operational update for 2013. Pacific Rubiales expects to release its year-end 2013 audited results on March 13, 2014. All values in this release are in U.S.$ unless otherwise stated. 2014 OUTLOOK HIGHLIGHTS: Targeting average net production of approximately 148 to 162 Mboe/d, an increase of 15 […]


Bilateral Investment Treaty

Treaty Series No. 33 (1982) Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of Belize for the Promotion and Protection of Investments. Belmopan, 30 April 1982 The Agreement entered into force on 30 April 1982 Presented to Parliament by the Secretary of State for Foreign and Commonwealth Affairs by Command of Her Majesty September 1982 Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of Belize for the Promotion and Protection of Investments The Government of the United Kingdom of Great Britain and […]


EU Blacklists Belizean Seafood

In a move to eradicate illegal fishing, the EU has blacklisted Belize from exporting it’s produce to the world’s most valuable seafood market as of Monday May 13, the ban will require ALL EU states to stop importing seafood from Belize and the EU vessels are required to stay out of their waters. The ban includes Belize, Cambodia and Guinea. This comes after being warned back in 2012 to take action against illegal fishing or face the consequences.  “Illegal, unreported and unregulated fishing depletes fish stocks, damages marine ecosystems, puts legitimate fishers at an unfair disadvantage and jeopardizes the livelihoods […]