Find Industry and Manufacturing expertise in Belize
Manufacturing contributes 13.4% to the total GDP of Belize (2011), and it primarily involves the production and processing of food products – with sugar, shrimps and citrus being the primary foodstuffs – alongside beverages, textiles, clothing and footwear. Belize is rated 106 out of 185 countries by the World Bank for ease of doing business, a ranking based on how conducive the regulatory environment is to the opening and operation of a local firm.
Manufacturing production has increased significantly since 2000 with BZ$159.2 (US$80) million in revenues increasing to BZ$243.8 (US$121) million by 2007. A major contributor that accounts for this change over the years is Belize’s expansion in aquaculture operations in the fisheries sector, including fish processing for the export and domestic market. Export Processing Zones (EPZ) are used in the country to encourage such export-friendly manufacturing industries. Such zones benefit from having a favourable tax regime and no duties to pay for the companies present in these zones.
Sugar accounts for over 60% of all Belize’s agricultural exports with the rest coming mainly from textiles and foodstuffs. Most of the country’s other industry comprises of products for the domestic market, which again is made up of processed foods and textiles. Belize has a relatively small assembly sector compared to neighbouring countries, largely due to competition from low-cost producers, particularly those in Mexico.
The World Economic Forum Global Competitiveness report 2013–14 gives Belize a rating of 123 out of 148 countries included in the report, with a rating of 2.7 out of 7.0 for overall product process sophistication.
There is no specific government agency that oversees manufacturing and industry in Belize. However, responsibilities for various aspects within the manufacturing industry are split between a number of different official agencies such as the Ministry of Works and Transport, the Ministry of Labour and the Ministry of Natural Resources and Agriculture.
There is also the Belize Chamber of Commerce and Industry (BCCI) which is the largest private sector membership based organisation in the country. Founded in 1920, the organisation concentrates on the social and economic development of Belize within all sectors of industry and commerce. Also, the Chamber is the only officially recognised organisation for industry employers by the International Labour Organization (ILO).
|Industry and Manufacturing organisations in Belize|
|Belize Aluminum Industries Ltd||