Press Release
The Office of the Prime Minister and the Ministry of Investment, through its Investment Policy and Compliance Unit, together with the Spanish consultancy firm, Congenia CYL, SL, presented the country’s first Global Digital Services Investment Policy with a focus on the Orange Economy project to stakeholders at the University of the West Indies Auditorium in Belize City.
This consultancy project, funded by the Inter-American Development Bank (IDB), seeks to develop a strategic approach to transform Belize’s Business Process Outsourcing (BPO) industry into a Global Digital Services industry offering higher-tier services that support the long-term growth of the sector. The approach is to identify measures (policies, legislation, and business cases) as well as programs and activities that will facilitate an enabling environment for the advancement of the Global Digital Services sector and to adapt to the future global demand.
Belize’s BPO sector employs approximately 20,000 persons, and changes in the global economic landscape with the development of Artificial Intelligence (AI) open several opportunities to move up the value chain in the industry. The emphasis on the Orange Economy is due to its activities, such as animation, software development, digital art, entertainment through social media platforms, gaming, etc., forming part of the higher-tier activities of the Global Digital Services sector, which shows a growth trajectory in the future.
The findings presented by Congenia proposed six pillars for the Global Development Services Investment Policy:
- Incentive Framework Modernization
- Legal and Regulatory Modernization
- Strategic Transformation,
- Cultural Output visibility
- Creative Workforce Development
- Digital Infrastructure.
The validation exercise was held to confirm that the policy’s technical framework integrates with the existing digital infrastructure and aligns with national priorities. The consultants also shared critical insights and strategic actions to address current gaps and strengthen sectors, including digital skills and financial services such as content monetization and international payments to Belize.
Present at the validation exercise were Narda Garcia, Chief Executive Officer, Office of the Prime Minister and the Ministries of Investment and Civil Aviation; Lincoln Blake, Director, Investment Policy and Compliance Unit; Rissela Dominguez-Patt, Labour Commissioner, Labour Department; Carmen Sosa, Executive Director, Economic Development Council; Luis Parilla, senior consultant, Congenia CYL, SL; senior executives of the Business Process Outsourcing Association; IADB representative; representatives of Beltraide, and other representatives of the private sector, the Government, and academia.
The post Presentation of Belize’s Global Digital Services Investment Policy appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Press Release The Office of the Prime Minister and the Ministry of Investment, through its Investment Policy and Compliance Unit, together with the Spanish consultancy firm, Congenia CYL, SL, presented the country’s first Global Digital Services Investment Policy with a focus on the Orange Economy project to stakeholders at the University of the West Indies
The post Presentation of Belize’s Global Digital Services Investment Policy appeared first on Belize News and Opinion on www.breakingbelizenews.com.
