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Offshore industries to be killed off?

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Posted: Monday, March 25, 2019. 3:41 pm CST.

By Aaron Humes: Business Community Senator Mark Lizarraga warns that there are efforts being made to “kill off” Belize’s offshore industry and that Belize must be careful to be seen to be compliant while not accidentally choking off this valuable source of investment.

 It comes on the heels of Belize’s blacklisting by the European Union and OECD at the end of February even after, according to Prime Minister Dean Barrow, Belize agreed to recent amendments to the relevant laws.

 Opposition Leader John Briceno has signaled his support but warns, as does Lizarraga, that Belize cannot afford a fight with the powerful international economic grouping.

He says Belize must be careful to have the proper laws in place to avoid unnecessary blacklisting and to always appear to be compliant with its international commitments.

 

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