We also asked the Prime Minister about the plans for the new publicly owned company called Hydro Belize, formerly Fortis Belize.
Currently, the state owns all three hydroelectric dams on the Macal River - an asset they paid 220 million Belize dollars for.
But, Fortis didn't only own the dams, they kind of owned the river, or at least controlled who could exploit it - and we asked the Prime Minister who will have that control going forward:
John Briceno, Prime Minister
"All of these things are going to be done, but it is going to be for and on behalf of our citizens of this country."
Reporter
"And no percentage will be set aside for the average Belizean."
John Briceno, Prime Minister
"Of course, that's the whole idea. We don't have the percentage, we just remember we are just finalizing the, the entire deal. The idea is that for us to be able to have, I hope we can get thousands of British citizens to invest 1,000 and $5,000, 10,000, so that they could also be of that. To me, that is the goal, to have as many Belizeans as possible to be able to invest and the same thing we want to do with the Port of Belize, when we start to the new building of the new port container and Cruise Port, I, I'm looking at see if we can set aside, probably, we don't have the final numbers but at least like 10% that we could offer to our citizens."
Reporter
"Do we make known the beneficial owners of the hydro Belize Limited?"
John Briceno, Prime Minister
"Of course, is going to be public knowledge is going to be you can go to the registry."
Jules Vasquez
"We can't go to the registry, PM, unu close that off!"
John Briceno, Prime Minister
"Anyway, go ahead..."
Jules Vasquez
"I understand that it will be Social Security, but they can't buy up the full asset. So we have to have strategic investors."
John Briceno, Prime Minister
"Remember, remember how this is going to be done as we said. It's going to be broken off in two parts. We're hoping I think it's about 35% to be sold off as shares of the total figure."
"That's about what, what 160, somewhere around that, $1 million Belize dollars. And then the other part is going to be debt. And so we're hoping then that Social Security can buy debt, and can buy into the shares of the company."
"So we need to be able to find, solid investments for, for Social Security and so we see this as being one of them, as one, a solid investment where we can get good returns."
