And the PUP would certainly ask for a bonus grade for extracurricular work with the first-ever Belize Investment Summit.
The event wrapped up the second of its two-day schedule of activities at the Gran Caribe Resort on the island of San Pedro this evening.
Our news team traveled to the island town yesterday for coverage of the Summit, and tonight, we take a close look at the business forum's main features. Daniel Ortiz has that story:
The Briceno Government has presented the Belize Investment Summit as a clear sign that the country has a renewed focus on promoting a strong business climate.
Their idea of an end-state commercial haven pictures an environment so fertile that sound homegrown business ideas - which lack funding - can prosper and co-exist alongside foreign investment projects.
In this "Invest-opia" all opportunities and ideas are welcomed, and hence the theme: "Belize: Open For Business".
Hon. John Briceno - Prime Minister
"We are fully convinced that we can create an environment conducive to economic transformation. Investment provides an opportunity for growth in micro, small, medium, and large enterprises. I am convinced that if we create initiatives that include access to finance and a more seamless enabling mechanism that we can rebuild our economy with MSMEs at its foundation and without compromising the economic initiatives of the larger enterprises. We also must look at the non-traditional industries and shouldn't forget the contribution of the service industries to our gross domestic product."
Hon. Anthony Mahler - Minister of Tourism & Diaspora Relations
"The entire tourism product in Belize is made up of - I would say 95% of small/medium enterprises, even micro-enterprises, and so, we have to continue focusing on helping them through these difficult times, but we also have to attract some bigger developments so that we can expand the tourism product."
Hon. Jose Mai - Minister of Agriculture & Food Security
"We have a habit in Belize of producing primary goods. We produce cacao beans, and we import chocolate. We produce and export corn, and we import Maseca. That tells a lot. That tells a whole big story. We need investments in the agro-processing sector, and if I were an investor, and I came to Belize, I'd be looking in this particular area."
Hon. Abner Andre Perez - Minister of the Blue Economy
"We are saying to the world and to the region that we are open for business, but easier said than done because when you say Open for Business, what is it that we're offering? And I think the most important thing [the] we recognize as a new government is a red tape, the bureaucracy the exits."
Even Opposition Leader Patrick Faber, who is no cheerleader for the Briceno administration, thinks that this type of investment promotion is necessary.
Hon. Patrick Faber - Leader of the Opposition
"My presence here indicates, I hope, that we are a team player. We're a partner in helping to get things rebounded for Belize's economy. Clearly, an event like this is a very costly one, and there are those criticisms that will come, I am sure, but we believe that if this type of investment will yield the kind of productivity, the kind of investment that the government is hoping to achieve here, then it might be all worth it."
Government invited Stephen Harper, the former Prime Minister of Canada, as the lead guest speaker and he offered sage advice on how to tap into Belize's business potential.
Rt. Hon. Stephen Harper - Former PM, Canadian Government
"This country does have exceptional strengths and potential. I suggest I suggest a deliberate and strategic focus on your education sector. Ensure that your own citizens have the opportunity to develop the skills that align with your economy starting with expertise. Strive to be digital-first in every way. Be the most connected, digitally-forward country in the region. Belize could certainly use its geographic and cultural position to be much more of regional trade, investment, and distribution hub. Geo-politics, which once made this place very isolated in this region, now make it that kind of a potential hub, but the legacy of that isolation is your relatively under-developed infrastructure."
As part of the first day of activities, The Belize Government and Inter-American Development Bank signed a loan agreement for the Development Finance Corporation. The Head of the DFC said that it is to provide funding for smaller entrepreneurs who are trying to stay open for business.
Henry Anderson - Chairman, Development Finance Corporation
"We provide what you call counter-cyclical finances, meaning when you need it the most, we are there. So, we're working with companies that generate foreign exchange or prevent us from having to use the foreign exchange, that creates jobs or to hold workers. So, what you saw today was the signing of a loan for 15 million US dollars. It's aimed at micro, small, and medium enterprises. The loans can go up to 500 thousand US dollars, or a million Belize."
And for those entrepreneurs who are struggling to find investors to fund their business ideas, the Summit is offering a sort of nursery/incubator, where they can approach investors and make a sales pitch. We met one of those hopeful entrepreneurs yesterday.
Hazelita Kuylen - Representative, Belize Sunrise Limited
"We're looking for investors or investment in order to invest in our rice and corn production. We are in the production and the export of rice and corn. There is a lot of shortage of corn in Guatemala, and in Mexico - and also rice. So, we have a lot of contacts both in Mexico and Guatemala that have contacted us, personally, me and my other two business associates, and they are willing to purchase all the rice and the corn that we produce, once we are in production."
So, how will the Prime Minister measure the success/or failure of this Summit?
Hon. John Briceno
"I think the important thing is that we can see where people - business persons are meeting face-to-face and that are prepared to work out agreements among themselves, work out deals - as we say in business parlance - where they can make investments. Now, these investments are not going to materialize tomorrow or next week, but certainly, by next year, we could start to see some of these investments starting to take place."
In our interview with the Prime Minister, he asserted that based on the feedback from Summit attendees, there are positive discussions underway that could lead up to, quote, "over 500 million dollars" in investment in sectors such as tourism, agriculture, energy, business process outsourcing, and infrastructure development, to name a few.
We'll wait and see how many of those commitments actually become a reality.
