Could Seaweed, Chocolate and Boats Be Belize’s Next Big Money Makers?

Belize is looking beyond tourism and traditional agriculture as the government begins work on the country’s first industrial strategy focused on “green” and “blue” industries.

The government, working with the United Nations Industrial Development Organization (UNIDO), held a workshop in Belize City this week to present preliminary research to more than 50 government officials and private sector representatives.

At the centre of the discussions was one key question: what industries can Belize grow that create jobs, bring in more money, and protect the environment at the same time?

Early research identified six areas with strong potential to help diversify the economy. On the “green” side, the focus is on cacao and chocolate production, coconut products, and bio-based industries such as bioenergy, compostable materials and agro-processing.

On the “blue” side, attention is being placed on seaweed production, fisheries and aquaculture, and even boatbuilding. These are areas where Belize already has natural advantages but where the country is largely selling raw materials instead of finished products.

The strategy is designed to change that, pushing Belize up the value chain so that more of the money stays in the country rather than being captured elsewhere after export.