Tuesday, May 21, 2024

Investment Policy and Compliance Unit

Designated Processing Areas Act Legislative Amendment Consultation

On March 29, 2023, the Investment Policy and Compliance Unit (IPCU) in the Ministry of Investment organized a consultation with companies that benefit from the Designated Processing Areas (DPA) Act. The objective of the consultation was to apprise the private sector stakeholders of the proposed amendments.

Ministry of Investment Visits Agro-Processing Facilities in Southern Belize

The Ministry of Investment is on a working tour of several of the agro-processors of southern Belize. The participants include Mrs. Narda Garcia, Chief Executive Officer in the Office of the Prime Minister and Investment, and several officers in the Investment Policy and Compliance Unit of the ministry.

Legislation to phase out single-use plastics and Styrofoam in Belize yet to be enacted

The banning of single-use plastic and Styrofoam products in Belize was scheduled to take place on April 22, 2019, but to date, things continue as usual. In March the Department of Environment (DOE) initiated a nationwide educational campaign, sensitizing Belizeans to the new policy and the importance of using bio-degradable items.

GOB reaffirms its commitment to phase out single-use plastic and Styrofoam products by April 2019 amid allegations of a possible delay

Concerned citizens have alleged that the banning would be delayed because the Government of Belize (GOB) would not provide any incentives to investors interested in manufacturing and supplying biodegradable items in the country. However, personnel from the IPCU told The San Pedro Sun that such information was inaccurate, as they are working on a package of incentives that will be made available to investors, particularly the small businesses interested in this new line of environmentally friendly products.