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Volume 3, Number 3 |
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Volume 3, Number 3 |
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TIPS...Everything you need to know about trade and investment |
| The Government of Belize is pleased to announce the establishment of the Trade and Investment Promotion Service (TIPS). This new organization, with its offices in the capitol, Belmopan, is designed to be the source for all trade and investment information and facilitation. Whether you are a foreign company or individual looking for a potentially lucrative sector of the Belizean economy in which to invest, a local investor, or a local company looking for ways to increase production and/or trade, TIPS is there for you. | |
The office has just opened its doors for business, and many of its services are in the formative stage. But when I recently spoke with the TIPS Executive Director, Mr. Mario Castellanos, he explained what the office will be doing to encourage economic growth and improve the quality of life for Belizeans. Rather than duplicate efforts already being made by other organizations and ministries in the country, TIPS seeks to coordinate with their efforts, and liaise between the government and the investor, in effect, being a conduit for all trade and investment information. Services for Foreign Investors and Companies TIPS will be a printed information center, and will also maintain a database of all market related information. Catalogs will be compiled on all Belizean products available for export. Directories of Belizean importers and exporters are available. For the investor looking for ideas on where to invest, detailed guidelines which identify existing and potential markets will be published, and will include existing companies in need of investor support. While the country's highest potential appears to be in agro-processing, the manufacturing sector is being explored for development, as well. By early 1998, an information package which outlines all areas for development, and incentives offered by the government to encourage investment, will be compiled and available for purchase by contacting the TIPS office. This will also include data on the Commercial Free Zones and Export Processing Zones which have already been established to facilitate duty-free operations and export production. These packages can be mailed to international addresses. Services for Local Investors and Companies TIPS will establish a trade database to keep companies abreast of updated trade information. TIPS will research and develop new markets for your traditional and non-traditional products, and assist you in expanding production to export levels. Delegations representing various industries, for example handicrafts and furniture, will travel abroad to promote Belizean products at appropriate shows and programmes. The office will also assist you in compiling profiles of your company and its products. TIPS will coordinate with local organizations such as the Development Finance Corporation, the Chamber of Commerce and Industry, and the Ministry of Agriculture to find new sources of low-cost funding to enable Belizean companies and entrepreneurs to begin production for export and to develop new and existing markets for products presently available, but not yet in commercial production. Training programs will be developed, as well. TIPS is also designated to coordinate and implement a Technical Cooperation Agreement with the Republic of China (Taiwan), which will provide US$10 million in lending to benefit small and medium-sized enterprises. Under a Caribbean Export Development Agency (CEDA) programme, US$50,000 has been allocated for assisting the private sector in increasing its exports, as well as providing technical assistance and other activities. In Conclusion The Trade and Investment Promotion Service is there for anyone, anywhere, who needs information or assistance in any way relating to trade and investment. From first time inquiries to actual product development, this is the place to go first. While these ambitions may seem high, TIPS has been designed for exactly that purpose. The Government of Belize has provided most of the funding for the TIPS office, with help from a Caribbean Regional Trade Programme funded under LOME IV, and the OAS. To help generate additional revenue, a schedule of nominal fees for services will be established. For up to date information on TIPS activities, visit their website, linked below. For information, contact:
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