The Briceno government likes to champion the fact that it is pro business, and pro investment, and that's why a recent letter from the Belize Agro-Productive Sector Group - signed by a former PUP minister Henry Canton - has to be a body blow for the government.
The B-A-S group has written to prominent members of the Government, about foreign investors having waning confidence in the business climate in Belize.
In a letter dated January 6, 2022, the BAS Group wrote to Agriculture Minister Jose Mai saying, quote, "...The Sector views with great concern recent developments in the sugar industry where the failure of government to protect and support private sector investors has led to illegal and damaging events in both the North and West of the country. The sector is concerned that if the law is not enforced, this will lead to a complete halt to investment and possible contagion across other industries and sectors, damaging the investment climate and Belizean economy still further." End quote.
This letter was written after both BSI/ASR and Valley of Peace Farms independently suffered from different incidents.
They amplified that concern that the investments of its members were - in their opinion - not properly protected by the Government of Belize.
They say quote, "It is recommended that government become more proactive in the application of the law in defense of these investments and denounce any criminal act perpetrated against investors." End quote.
That letter goes on to say that antiquated laws continue to hinder industry growth and modernization. They are recommending a revision of multiple laws including the Citrus Processing and Production Act, the Sugar Industry Control Act, the Banana Industry Act, the Pesticides Control Act, and the Grain Act.
The letter to the Prime Minister continues, quote, "the current GST refunds owed to the investors represented herein is several million dollars. Tax incentives on all agro-productive sector investments that focus on exports should be allowed....Tax structures in our industry should be modified to create stability and competitiveness nationally and internationally." End quote.
We contacted BAS Chairman Dr. Henry Canton for comment on these letters, but up until news time, he has not yet responded. His letter comes just month after Government's investment summit.
