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Emirate businessman establishes ties with Belize

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Posted: Monday, April 11, 2022. 12:01 pm CST.

By Aaron Humes: Businessman and royal His Highness Sheikh Ahmed Bin Faisal Al Qassimi of the United Arab Emirates (UAE) will cooperate with Belize’s Trade and Investment Development Service on a number of critical projects.

The Sheikh and board member Dr. Marcin Lapa signed a memorandum of understanding with the chairman of BELTRAIDE and CEO in the office of the Prime Minister Narda Garcia and Executive Director Dr. Leroy Almendarez on April 1 in which he establishes plans to direct foreign direct investment (FDI) to Belize in the fields of energy transformation, utilities (smart metering), agriculture, information, and communication technology (ICT), tourism development and asset digitalization.

The Sheikh’s office and BELTRAIDE will establish a Joint Working Group (JWG) that will be responsible for the implementation of the MOU and comprise an agreed number of representatives from each Party. The Joint Working Group will be responsible for the following activities under the MOU: drafting and ensuring periodic work plans for implementation; monitoring and evaluating activities; producing and submitting reports to responsible Ministries; regularly reviewing the progress of the implementation of activities, and keeping a record of any activities undertaken by the Parties under the MOU.

The signing of the MOU comes at the close of the six-month-long World Expo, Expo 2020 Dubai in which Belize participated, showcasing the country as an ideal destination for investments, business, and leisure. During the visit to Dubai, UAE, the BELTRAIDE representatives also participated in the Caribbean Investment Forum & the Annual Investment Meeting, which brought representatives from countries all over the world to discuss other opportunities for investments and trade.

The parties also discussed possible dates for an initial visit to Belize by the Sheikh and his team.

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