Puerto Azul project stalled some time ago

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Updated: January 25, 2017

Panton was also asked whether the recent reports on the main investors in the Puerto Azul project would have any negative impact on Belize’s foreign investments.

Tracy Teagar Panton – Minister of State, Ministry of Economic Development

“We haven’t been involved with that project for a couple of years. I know that they had applied for an environmental impact assessment to be done and a terms of reference was reviewed and that is where the project stopped. There was no direct intervention from the Ministry of Investment or Beltraide for a couple of years now. I think we’ve heard some things from the international media but we’ll all have to wait and see how it plays out and in fact those things are indeed as they were presented. It is unfortunate when we have those kinds of incidence but certainly we try as best as we can to do our due diligence not only through Beltraide but also through the FIU and the Central Bank to ensure that investors that are coming are bona fide and we don’t find ourselves in that sort of situation.

Reporter

“You don’t feel that it affects relations or future potential investments in the country?

Tracy Teagar Panton – Minister of State, Ministry of Economic Development

“ I don’t have any indication of that as yet and maybe with some time we’ll have a better understanding but no I think bona fide investors understand the value of Belize, they know that there is a clear process and some predictability in the process. You know when investors follow that process you know that they mean business and I don’t get that indication as yet it might change in the future but I think it may be too early to tell.”