If Telecoms Are Essential, Should They Be More Strictly Regulated?

Belizean officials are hosting a three‑day workshop in Belmopan with regional and international partners to learn how to supervise fair business practices and encourage healthy competition across the CARICOM Single Market and Economy (CSME).

Senior trade economist Berisford Codd said the effort is about putting rules in place that protect consumers and prevent companies from abusing their market power. “Now, what that does for the average Belizean is it ensures we have laws and regulations in place to make our markets fair,” Codd said, adding that proper oversight helps ensure better prices, more choices, and encourages businesses to innovate instead of dominating the market.

Codd noted that most CARICOM countries already have competition laws in place. “Member states for the most part have their own competition framework. Belize doesn’t as yet, so we are developing our framework that can then integrate with the regional framework,” he said.

The workshop is being led by the Executive Director of the Jamaica Fair Trading Commission, David Miller, who stressed that strong oversight is especially important in essential services. “Telecoms have become just like light, electricity and water. It is an essential service nowadays. We have to have telecoms services to live, operate, and do business,” Miller said.

The sessions, led by the CARICOM Competition Commission, come as debate continues over Belize Telemedia Limited’s proposed acquisition of Speednet (SMART). Critics argue the buyout would create a telecommunications monopoly. Prime Minister John Briceño has since instructed a pause on discussions and called on the Public Utilities Commission to review the matter.