By Belize Live News Staff: Belize is taking strides to position itself as a global leader in the blue economy with the launch of the Blue Economy Investment Promotion Strategy and Action Plan. Announced by Beltraide in collaboration with the Ministry of Blue Economy and the Inter-American Development Bank (IDB), this ambitious plan aims to harness Belize’s marine resources sustainably, expanding economic opportunities beyond traditional tourism and agriculture.
At the official launch, Ishmael Quiroz, Executive Director of Beltraide, highlighted the importance of economic diversification for Belize. “Economic diversification is one of the fundamental concerns for every country and in particular for a country like Belize that traditionally has been heavily dependent on tourism and agriculture,” Quiroz stated. He noted that while Belize is already a leader in marine activities, the new strategy will broaden investment to include areas like shrimp farming and other sustainable marine ventures, going beyond the country’s well-known island-based tourism.
Felicia Cruz, Director of the Blue Economy at the Ministry of Blue Economy, emphasized the pivotal role her ministry plays in providing critical feedback and collaboration to guide this initiative. According to Cruz, the partnership with Beltraide and other key agencies ensures that Belize’s coastal communities benefit from targeted investments aimed at supporting both economic growth and the well-being of Belizeans.
Rocio Medina Bolivar, IDB Country Manager for Belize, added that the IDB has been a key partner in shaping Belize’s blue economy initiatives. “The IDB is already working in several areas related to the Blue Economy,” she said, detailing the IDB’s role in conducting analysis and identifying strategic priorities to guide foreign investment into Belize’s marine sectors. Medina Bolivar emphasized that this strategy is comprehensive and aimed at helping Belize attract and manage sustainable investments that respect and preserve the country’s rich marine ecosystem.
The Blue Economy Investment Promotion Strategy and Action Plan signals a commitment from Belize to foster sustainable growth in its marine-based industries, leveraging the country’s natural assets while promoting environmental responsibility. With the support of Beltraide, the Ministry of Blue Economy, and the IDB, Belize aims to enhance its standing as a pioneer in blue economy initiatives and provide a model for sustainable marine resource management in the region.
