Belize Business and the Belize Economy

The Belize Government has promoted development by means of a mixed economy in which the public sector has judiciously utilized foreign borrowing, mainly on concessional terms, for infrastructure development as well as for private sector support.

The GDP growth has averaged 8% over the last three years with agriculture still the major activity but with an increasing contribution from tourism. Agriculture economic performance is based on sugar, citrus and bananas. Other significant exports are garments and marine products.

Belize benefits from a number of preferential market access arrangements particularly with the US, Canada, and the European Economic Community through its British links. The Ministry of Economy Development operates a comprehensive investment scheme which is available to Belizean and foreign investors alike. This provides for a tax holiday for up to 20 years and up to 100 per cent exemption from trade taxes on import of capital equipment and raw materials.

Under this investment scheme there are no restrictions on the repatriation of profits, dividends, fees, and capital (including capital gains) arising from foreign investments in the country, provided all such investments are registered with the Central Bank.