Press Release
The Government of Belize is aware of the public circulation of a letter from the Chairman of the United States House of Representatives Committee on Foreign Affairs addressed to the United States Secretary of State, 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 of Belize will cooperate fully with the U.S. House of Representatives Committee on Foreign Affairs and the U.S. State Department to provide any information or clarification that would assist in their assessment of Belize’s investment climate.
Encouraging foreign direct investment is a priority for the Government of Belize. 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 of Belize 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.
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 final conclusion.
The post Statement by the Government of Belize appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Press Release The Government of Belize is aware of the public circulation of a letter from the Chairman of the United States House of Representatives Committee on Foreign Affairs addressed to the United States Secretary of State, requesting the Department of State to conduct an assessment of Belize’s investment climate and institutional checks and balances.
The post Statement by the Government of Belize appeared first on Belize News and Opinion on www.breakingbelizenews.com.