BELMOPAN, Belize, CMC – The Belize government says it will cooperate “fully” with the United States House of Representatives Committee on Foreign Affairs and the US State Department to provide “any information or clarification” that would assist in their assessment of the country’s investment climate.
In a statement, the Government said it is aware of the public circulation of a letter from the chairman of the United States House of Representatives Committee on Foreign Affairs, Brian J. Mast, addressed to the United States Secretary of State, Marco Rubio, requesting the Department of State to conduct an assessment of Belize’s investment climate and institutional checks and balances.
“Belize is a stable democracy, has confidence in its judicial system, and shares a longstanding and mutually beneficial bilateral relationship with the United States,” the Government said.
Earlier this week, Mast wrote to Rubio, saying that “concerns have been raised with the Committee regarding the state of rule of law in Belize and the potential implications for US strategic interests, American investments, and the bilateral relationship..
“I would appreciate the Department’s assessment of recent investor disputes involving compulsory land acquisition to determine whether these issues warrant closer U.S. attention,” he wrote in the March 10, 2026, letter.
He said that Belize’s investment climate warrants particular attention, noting that the State Department’s own 2025 Investment Climate Statement “notes that U.S and other foreign investors have cited lack of transparency, land insecurity, undue influence by politically powerful stakeholders, and corruption as impediments to doing business in Belize”.
Mast also raised a geopolitical issue given that “Belize is one of a dwindling number of nations that recognizes Taiwan over the People’s Republic of China, making it a valuable partner in countering Beijing’s diplomatic offensive in the hemisphere.
‘Challenges to the rule of law in Belize could create vulnerabilities that the PRC may seek to exploit,” Mast wrote.
At the center of the issue is the Stake Bank Island cruise port project, where ownership claims and compulsory acquisition proceedings have dragged on for years.
On August 27, 2024. The Belize government issued a statement indicating that it had signed a notice of intention to acquire the disputed 24-acre extension of Stake Bank Island compulsorily.
At the time, the Government said the parcel, identified as Fiat Grant 881 of 2021, and given to Michael Feinstein, the former chairman and shareholder of Stake Bank Enterprises Ltd., is currently the subject of an ownership dispute at proceedings in the High Court.
But it noted “unfortunately, that dispute is detrimental to the completion of a project that is in the public interest” and that “once the acquisition and assignment to Stake Bank Enterprises is finalized, the cruise berthing facility, which has been halted since the company entered receivership in March of this year, can proceed to completion”.
The Government said that the company’s receivership and the subsequent land dispute over ownership of the island extension have frozen works on the project, resulting in significant delays to construction and, crucially, to completing a facility that, for the first time, would provide cruise ship passengers with a dock for disembarkation.
It said that cruise tourism arrivals have continued to fall due to the lack of a proper berthing facility in the Belize District.
“Stake Bank’s Receiver and Creditors petitioned Cabinet consideration for the acquisition to rescue the project and its BZ$270 million (One Belize dollar=US$0.49 cents) investment to date. The Creditors have provided a comprehensive indemnity to the Government so that all costs, if any, ultimately arising from the acquisition are to be paid by the Creditors and not the Government.”
The Feinstein family, original developers of Stake Bank, welcomed Mast’s intervention. In a statement, they said the letter “directly rebuts recent public attempts to dismiss or minimise concerns about the treatment of Stake Bank Islands and sends a clear signal to the Government of Belize and Atlantic Bank that these matters are now the subject of high-level U.S. scrutiny”.
The family said, “It is now a matter of US congressional oversight and foreign policy, not just a private dispute.
“The Prime Minister may choose to downplay or dismiss questions about Stake Bank Island in public, but the United States Congress plainly does not,” Feinstein added.
In its statement, the John Briceno government said that encouraging foreign direct investment is a priority for its administration and that the Government has implemented extensive improvements to Belize’s enabling environment for businesses “through modernising legal frameworks, streamlining and digitalising regulatory processes, expanding incentive programs for foreign investors, and proactive engagement with investors and the wider private sector. “These improvements have resulted in notable increases in foreign direct investment net inflows. Indeed, in the last two years alone, Belize has benefited from approximately $505 million in net investment flows.”
The Government said it is “firmly committed to advancing good governance and upholding the rule of law.
“In the Central American region, Belize is currently ranked as having the second lowest perceived corruption on the Corruption Perception Index (CPI) and is ranked third on the World Justice Project’s Rule of Law Index.
“Additionally, the Government of Belize has made significant investments in modernising the judiciary through infrastructure upgrades and supporting initiatives aimed directly at reducing case backlog. The Government is of the firm belief that a strong and independent judiciary is key to a stable democracy and an enabling business climate.”
It said regarding the compulsory acquisition of the Stake Bank extension, “this matter was adjudicated by the High Court of Belize, which held that the acquisition was constitutional.
“The claimants have proceeded to appeal that decision in the Court of Appeal of Belize. As the matter remains sub judice, the Government of Belize reserves detailed discussion of the case until the legal process has reached its conclusion,” it added.
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