Business & Economy
Hol Chan Marine Reserve holds public meeting regarding park fee increase
On Wednesday, June 12th, tour operators and guides from San Pedro and Caye Caulker met to discuss the proposed fee increase at the Hol Chan Marine Reserve (HCMR) from US$10 to US$20. The attendees acknowledged that operational costs are rising and were open to an increase but requested a detailed analysis justifying the 100% raise. The HCMR management agreed to conduct a thorough study and provide a report to the stakeholders by Wednesday, June 19th, regarding the proposed fee hike to access the marine park.
Business & Economy
Ministry of New Growth Industries Reactivates Hemp Industry Oversight Committee
The Hemp Industry Oversight Committee reconvened to discuss pivotal developments in the hemp sector, including the role of agencies in monitoring hemp developments in Belize and legislation. The Committee also reviewed an application for hemp research. A key focus of the meeting was the policy for approving hemp for research and investments in Belize.
Business & Economy
Closure of the Queen Conch Fishing Season
The Belize Fisheries Department hereby informs all fishers and the public that, in accordance with Statutory Instrument No. 54 of 2012, the Honourable Andre Perez, Minister of Blue Economy and Disaster Risk Management, will declare the Queen Conch (Strombus gigas) fishery closed at the close of business on June 9th, 2024. This is necessary due to the realization of the Queen Conch production quota for the 2023-2024 fishing season.
Business & Economy
Tourism stakeholders discuss Hol Chan Marine Reserve’s new increase in park fees
On Tuesday, May 21st, tour operators, tour guides, fly-fishing guides, and other business community members in San Pedro Town convened at the Lion's Den to discuss the increased fees to use the Hol Chan Marine Reserve. Hosted by the San Pedro Tour Operators Association (SPTOA), and led by President Roberto Canul, the discussion in the public meeting heard most of the attendees disputing the increase, which was not yet official, from US$10 to US$20 to access the famous reserve. Many of those opposing the increase demanded a proper justification for such an increase and a public meeting with the Hol Chan management to understand the need for a 100% increase.
Business & Economy
Belizeans endure the impact of scheduled power outages
Over the past weeks, Belize has grappled with planned power outages, a measure Belize Electricity Limited (BEL) is taking to stabilize the national grid and meet power demands. Despite the challenges, BEL is diligently working to minimize power interruptions and enhance its self-sufficiency in electricity generation, especially after its primary provider from Mexico reduced the supply. However, these necessary actions have not been without consequences, with disruptions to daily life and the commercial sector in areas like San Pedro Town and Ambergris Caye.
Business & Economy
Belize Bank opens a branch in Caye Caulker
On Thursday, April 18th, Belize Bank Limited (BBL) marked a historic occasion as it celebrated its new branch's official inauguration in Caye Caulker. They are thrilled to become a part of the vibrant community and, as a team, are dedicated to an exceptional banking experience. The newly inaugurated branch is located on Couples Street.
Business & Economy
Market days in Central Park are ideal for local artisans
For many years, the San Pedro Artisan Market was located in Central Park, where many set up shops to display their products to tourists. In 2016, the then San Pedro Town Council (SPTC), under the administration of previous Mayor Daniel Guerrero, moved the artisans to its current location on Angel Coral Street. Unlike the old days when visitors were greeted by the artisan market, today they can find signs guiding them to walk from Barrier Reef Drive (front street) heading west until they reach the third street of downtown to the “back street.”
Business & Economy
Navigating Compliance Standards: Strategies for Caribbean Nations in Response to FATF and EU Designations Webinar concludes with key highlights and takeaways.
The Financial Services Commission (FSC) of Belize successfully concluded an insightful webinar under the heading Navigating Compliance Standards: Strategies for Caribbean Nations in Response to FATF and EU Designations focused on the challenges and implications of combating money laundering and Terrorist Financing (AML/CFT) in the Caribbean, particularly in the context of the designation by the EU and the Financial Action Task Force (FATF) of several countries in the region as high-risk jurisdictions.