question archive What industry should be open in Belize to improve our economic standard? A background of the industry and also details as to why is should be

What industry should be open in Belize to improve our economic standard? A background of the industry and also details as to why is should be

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What industry should be open in Belize to improve our economic standard?

A background of the industry and also details as to why is should be.

 

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I think the best industry to invest and open in Belize are the ones that related to agricultural products such as sugar and bananas, and also fisheries-related industry. Belize can also open industries that can be develop products from the raw materials of this agriculture.

Step-by-step explanation

Since the the main industries are sugar, citrus, fisheries and bananas. Sugar accounts for more than 33.4% of the country's foreign exchange earnings. Because of the uncertain future of these traditional exports, major efforts are being made towards agricultural diversification. Industrial development is encouraged through a number of incentives which include the awarding by government of tax holidays and import duty exemption on inputs of up to a maximum of 25 years to qualifying companies. 

 

Aside from this edible producta, Belize is home to a number of growing enterprises which include, but not limited to, the manufacture of metal doors and windows, furniture, concrete blocks, bricks, clothing, boat building, soft drink bottling, brewing, cigarette manufacture, tyre recapping, the production of flour and animal feed, wire and paper products, an agricultural fertilizer plant, matches, plywood and other wood products, a meat packing plant, food processing operations and the manufacture of rolled steel bars for the construction industry and a host of other manufacturing activities.

I am sure in this way, Belize can boost its economic stability.