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Taiwan investment mission launches today

Posted: Monday, June 24, 2019. 2:42 pm CST.

By BBN Staf: Representatives from the Taiwanese communities in the United States and Canada are in Belize this week for the launch of an investment mission geared towards bringing in foreign direct investment for the tourism industry.

The mission opened this morning at the Radisson Fort George Hotel and Marina, where representatives from the Ministry of Investment, Trade, and Commerce (MITC), the Belize Trade and Investment Development Service (BELTRAIDE), and the Embassy of the Republic of China (Taiwan) gathered for the launch ceremony.

Minister of State in the MITC Tracy Panton, explained that the eight delegates are business executives of various levels coming from New York, Chicago Orlando, Atlanta, Vancouver, and Toronto. During their seven-day stay in Belize, they will be visiting Belize’s tourism hot spots, looking for opportunities to invest.

“We don’t yet have any kind of direct service from Taiwan to Belize and so we thought that as a first step, we would tap into the Taiwanese diaspora in the U.S who have been very successful in terms of investments in the US markets and Canadian markets,” Panton said.

Taiwanese Ambassador H.E. Remus Li-Gou Chen explained that he coined the idea for the investment mission in December 2018, receiving immediate, favorable responses from the Government of Belize (GOB).

“We believe that we can enhance the ties between Taiwan and Belize in this sector, that means more jobs will be provided for the people of Belize and also more prosperity and more economic progress,” the ambassador said. “So this is not something we should wait and see, we need to take swift action and see concrete results…”

Kevin Tsay, President of the Taiwan Hotel and Motel Association of North America (THMANA), explained that the group owns a collective 500 hotels between 200 Taiwanese owners.

“We see in 2020 overnight tourism in Belize will be over a half million. we see hotel demand stronger than the supply, that’s why we are here. We are trying to find an opportunity to invest in Belize,” Tsay said.

He noted that the group is also looking for opportunities to invest in areas surrounding tourism like furniture and other supplies for hotels. 

Another investment mission for the agricultural sector is expected to be launched in October.

 

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