By Belize Live News Staff: BELTRAIDE, in collaboration with the Ministry of the Blue Economy, unveiled Belize’s first Blue Economy Investment Promotion Strategy and Action Plan on November 1, 2024. The launch event, held at the Best Western Belize Biltmore Plaza, marks a significant step in positioning Belize as a leader in sustainable marine and coastal development. This plan aligns with Belize’s National Blue Economy Development Policy and the National Investment Policy to foster investment that aligns with the country’s unique vision for sustainable growth.
Developed by OCO Global with funding from the Inter-American Development Bank (IDB) through Compete Caribbean, the strategy aims to harness Belize’s marine resources to fuel economic growth, create jobs, and promote environmental stewardship. Key focus areas include coastal and ocean tourism, sustainable aquaculture, fisheries, and maritime transport. The initiative emphasizes skill-building for local stakeholders, including fisherfolk and tourism operators, and enhancing BELTRAIDE’s capacity to manage investment accounts and attract foreign direct investment (FDI) in Blue Economy sectors.
The Blue Economy strategy highlights Belize’s potential to attract FDI, setting an ambitious target for Belize to capture a portion of the $66 billion invested in the Caribbean Blue Economy over the past decade, which has generated approximately 189,000 jobs. Short-term goals include fostering partnerships, launching marketing initiatives, and offering investor support services. In the medium term, BELTRAIDE plans to develop a skilled workforce ready to support Blue Economy initiatives through targeted training programs.
