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Tracey Panton: Economic Recovery Strategy to preserve jobs and families

Posted: Friday, July 31, 2020. 10:56 am CST.

By Aaron Humes: Minister for Trade and Investment, Tracey Taegar Panton, said the Economic Recovery Strategy is intended to build on the ongoing relief programs and other efforts.

It intends to help preserve and increase jobs, which will result in supporting families’ economic recovery.

It recognizes, she said, that tourism and agriculture are and remain the bedrock of Belize’s economy.

Among its pillars and goals are supporting business recovery, improving Government productivity, and improving the productive sector.

The $29 million program for MSME business goes live on August 1, supported by waiver of taxes and duties.

The Government proposes to help Belize’s digital economy represented by business process outsourcing companies, establish a “Buy Belize” campaign to keep foreign exchange in country while an economic cooperation agreement with Taiwan will  open up access to that Far Eastern market for 200 products including sugar. Closer to home, neighbors Guatemala and Mexico are working out their partial scope agreements with Belize.

Reforms are proposed to the Labour Act and other sectors as part of the Government’s efforts to improve the cost of doing business in Belize.

Infrastructure projects and unclogging backlogs in the Lands and other Departments to facilitate new and existing businesses.

And there are many more proposals made on the part of the Government to accelerate the economy.

 

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