BELMOPAN, Belize, CMC—Belize has launched a new initiative to reaffirm its position as a global leader in the blue economy sector.
Belize’s Investment Promotion Agency (BELTRAIDE), in partnership with the Ministry of the Blue Economy, launched the Blue Economy Investment Promotion Strategy and Action Plan. The authorities say it complements the National Blue Economy Development Policy and Strategy and the National Investment Policy and Strategy by providing an investment-attraction focus on opportunities that align with Belize’s vision and context.
They said the strategy also provides skills development for local stakeholders such as fisherfolk, boat builders, tourism operators, and technical experts to better equip them to pursue blue economy opportunities, as well as for personnel capacity-building at BELTRAIDE.
The comprehensive action plan, developed by OCO Global with funding through the Compete Caribbean window of the Inter-American Development Bank (IDB) Group, offers in-depth analysis and strategic recommendations to unlock the immense potential of Belize’s marine resources.
The plan outlines key focus areas, including coastal and ocean tourism, aquaculture and fisheries, and maritime transport and shipping. The ultimate goal is to leverage these sectors to drive sustainable development and economic growth.
“Belize is uniquely positioned to capitalize on the blue economy due to its captivating natural beauty, rich marine biodiversity, strategic geographic location, and strong maritime culture,” according to a statement issued by the Ministry of Blur Economy and Disaster Risk Management.
It said the government’s support for sustainable initiatives further strengthens Belize’s ability to attract foreign direct investment (FDI) in this space.
The strategy identified over BDZ$66 billion (One Belize dollar = US$0.49 cents) in capital expenditures and 189,000 new jobs created through Blue Economy FDI across the Caribbean over the past decade.
“Belize aims to capture a significant share of this investment. In the short term, the plan focuses on enhancing stakeholder collaboration, establishing partnerships with international Blue Economy organizations, launching proactive marketing campaigns, and offering tailored account management services for investors.
“ In the medium term, BELTRAIDE aims to build a skilled workforce for the Blue Economy through training and development programs,” the ministry said, adding that the launch of the Blue Economy Investment Promotion Strategy and Action Plan sets the stage for Belize to harness its vast marine resources responsibly, ensuring economic growth, job creation, and environmental stewardship for years to come.
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