Following a letter from the Chairman of the United States House of Representatives Committee on Foreign Affairs, Brian J. Mast, addressed to Secretary of State Marco Rubio, requesting an assessment of Belize’s investment climate and institutional checks and balances, the Government of Belize formally responded on Thursday, March 12th. In its official note, the government offered its cooperation in assessing Belize’s investment climate.
Mast’s letter, dated March 10, 2026, comes after the Government of Belize acquired the Stake Bank island project off Belize City. The Feinstein Group was managing the project. The letter noted “concerns being raised with the Committee regarding the state of rule of law in Belize and the potential implications for United States strategic interests, American investments, and the bilateral relationship.” Mast asked the State Department, led by Rubio, to assess recent investor disputes over compulsory land acquisition to determine whether they warrant closer U.S. attention.
Regarding the Stake Bank acquisition, Mast said in the letter, “I would like to understand the Department’s current assessment of whether these issues pose a systemic risk to American investors and businesses operating in Belize.” The letter requested that Secretary of State Rubio assess the current state of the rule of law, judicial independence, and protections for property rights in Belize. The Feinstein family issued a release welcoming Mast’s letter. They noted that the letter sent a clear signal to the Government of Belize and Atlantic Bank that these matters are now the subject of high-level United States scrutiny.
Initially, the Belize Ministry of Foreign Affairs refrained from commenting and said it would make a statement in the days ahead. The response released on Thursday noted that the government is ready to cooperate with the State Department should the State Department seek such an assessment. The government’s statement indicated that Belize is a stable democracy, has confidence in its judicial system, and maintains a longstanding, mutually beneficial bilateral relationship with the United States.
“The Government of Belize will cooperate fully with the United States House of Representatives Committee on Foreign Affairs and the United States State Department to provide any information or clarification that would assist in their assessment of Belize’s investment climate,” the note read.
The release highlighted that encouraging foreign direct investment remains a priority for the Government of Belize. It stated that the government has made improvements to Belize’s business environment by updating legal frameworks, streamlining and digitalizing regulatory processes, expanding incentives for foreign investors, and actively engaging with investors and the broader private sector.
“These improvements have resulted in notable increases in foreign direct investment net inflows. Indeed, in the last two years alone, Belize has benefited from approximately $505 million in net investment flows,” the statement continued.
The government further stated that it is firmly committed to advancing good governance and upholding the rule of law. The statement added that the country is currently ranked in the Central American region as having the second-lowest perceived level of corruption, according to the Corruption Perceptions Index, and third on the World Justice Project’s Rule of Law Index. The government said it has also made significant investments in its judicial system, recognizing that an independent judiciary is key to a stable democracy and a strong business climate.
Regarding the compulsory acquisition of the Stake Bank extension, the government said the matter was adjudicated by the High Court of Belize, which held that the acquisition was constitutional. “The Claimants have proceeded to appeal that decision in the Court of Appeal of Belize. As the matter remains sub judice, the Government of Belize reserves detailed discussion of the case until the legal process has reached its final conclusion,” the release stated.
In January 2025, it was revealed that the High Court cleared the way for the government to proceed with its compulsory acquisition of the 23.4-acre Stake Bank Island extension, which had been under the name of businessman Michael Feinstein since 2021. The acquisition reportedly delayed the completion of the planned Port Coral cruise port project on the island.
