Posted: Monday, April 27, 2020. 10:20 am CST.
By BBN Staff: The Belize Chamber of Commerce and Industry (BCCI) issued a statement today reinforcing its longstanding support of the “Buy Belizean Goods and Services To Build Belize” concept.
The BCCI says that every dollar spent on local goods and services is one extra dollar for local enterprises and local jobs.
The BCCI therefore encourages all Belizeans to support local manufacturers, service providers and farmers.
“Not only will this save and, in some instances, even create more jobs; supporting local also encourages innovation and relieves the strain on Belize’s foreign exchange needs. The arrival of what the International Monetary Fund (IMF) refers to as the “Great Lockdown Recession” emphasizes the importance of spending on local goods and services,” BCCI noted.
The Central Bank of Belize (CBB) estimates close to a 20% contraction of the Belizean economy, and has projected a plunge by more than $1 billion in Foreign Exchange earnings for 2020.
Therefore, BCCI urges everyone to do their part to build Belize’s economic strength, including diversifying and, wherever possible, creating import substitution.
The Chamber reiterated its call on households to remember that when we buy in Belize, we help build Belize.
The Chamber says that the moves by businesses to divert their production and make much needed commodities demonstrate the innovative and productive potential of our local businesses.
The high demand for some of these items allowed these businesses to benefit and may have saved some jobs. Through local demand, the Belizean economy witnessed a spike in creativity that has kept employees working and businesses’ doors open.
The BCCI urges everyone to adopt the “new normal” by encouraging and supporting the homegrown innovation and ingenuity that we have seen during this pandemic.
“We all have a role in the recovery of our beloved Belize, and therefore we encourage the Government of Belize to further expand the number of locally sourced products that are included in the food baskets being issued. Where this is already happening, we congratulate officials for supporting local businesses,” the Chamber said.
Chamber also reiterates their decades-old call to Government to implement policies that create a supportive business environment, which encourages innovation, production and leads to earnings through exports.
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