The recent Fortis and BEL share sale has sparked significant debate, with Opposition Leader Tracy Panton raising critical concerns about the fairness of tax exemptions granted to domestic investors. Panton revealed that these investors will enjoy substantial tax breaks, including exemptions from stamp duty, business tax, income tax, and withholding tax on dividends or interest. While this appears advantageous for large institutional players, Panton argues that small and medium-sized enterprises (MSMEs) are left without such benefits, creating an uneven playing field. The government’s plan to sell shares to recover acquisition costs has further fueled skepticism about who truly stands to gain. Panton emphasized the disparity, noting that while Belizeans face rising utility costs, fuel taxes, and GST, these major investors are granted a ‘tax-free paradise.’ The Opposition’s critique highlights broader issues of economic inequality and the burden placed on ordinary citizens amidst these financial maneuvers.
分类： business
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CARICOM Free Movement Sees Minimal Impact on Belize
The implementation of CARICOM’s Full Free Movement on October 1, 2025, has so far had minimal impact on Belize, with only seven Barbadians arriving in the country during the first week. According to Belize’s Foreign Affairs Minister, Francis Fonseca, two of these arrivals were tourists, while the remaining five were on business trips. None of them expressed intentions to settle in Belize permanently. Minister Fonseca emphasized that the data reflects a controlled and measured response to the new regional agreement, alleviating concerns about potential job competition or resource strain. Historically, fewer than 500 CARICOM nationals under the skilled worker program have resided in Belize annually, further underscoring the limited demographic shift. Belize, alongside Barbados, Dominica, and Saint Vincent and the Grenadines, has embraced this initiative as a progressive step toward regional integration. The government remains committed to ensuring the policy’s effective and transparent implementation, closely monitoring its outcomes as it unfolds.
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Suriname en Guyana willen krachten bundelen voor groei
In a significant move to bolster bilateral cooperation, Suriname’s Minister of Economic Affairs, Entrepreneurship, and Technological Innovation, Andrew Baasaron, met with Guyana’s Minister of Tourism, Industry, and Commerce, Susan Rodrigues, during Baasaron’s official visit to Guyana. The meeting, held on Wednesday, focused on enhancing joint tourism initiatives and exploring economic synergies between the two nations. A key discussion point was the development of combined tourism packages that would position Suriname and Guyana as a unified destination. The ministers explored opportunities to integrate eco-tourism and adventure tourism in the hinterlands with cultural and urban experiences. Rodrigues emphasized the potential of leveraging their shared natural and cultural wealth to offer unique travel experiences to both regional and diaspora visitors. Baasaron highlighted tourism as a critical growth sector within Suriname’s economic diversification strategy, citing collaboration with Guyana as a pathway for joint marketing, improved air connectivity, and investments in the tourism value chain. Beyond tourism, the ministers also discussed industrial development and entrepreneurship. Rodrigues shared Guyana’s experiences with small business incubators and industrial zones, expressing openness to knowledge-sharing with Suriname. Both ministers identified opportunities for joint ventures in establishing incubators and processing facilities. Baasaron extended an invitation to Rodrigues to lead a trade mission to Suriname, aiming to further strengthen trade relations and pave the way for new investments in tourism and agro-industry. The ministers underscored that their collaboration extends beyond economic interests, serving as a model for regional partnership within CARICOM, focused on shared growth, innovation, and inclusive development.
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Several arrested for firecrackers, other uncustomed goods- GRA
In a significant crackdown on illegal activities, the Guyana Revenue Authority (GRA) announced the seizure of a substantial quantity of firecrackers and other uncustomed goods at the Stabroek Market on Friday. The operation, led by the GRA’s Law Enforcement & Investigation Division (LEID), resulted in multiple arrests. The GRA stated that several individuals are currently assisting with ongoing investigations. This follows a similar operation in the Berbice area on Wednesday, where a large cache of firecrackers was confiscated, and suspects were handed over to the police. The GRA emphasized its ‘zero tolerance’ policy towards smuggling and urged the public to comply with national tax, trade, and border laws. The Authority warned that violations could lead to charges under the Customs Act, Chapter 82:01. The GRA also encouraged citizens to report smuggling activities through designated hotlines.
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Island Adventures Shines at Caribbean Global Awards
Island Adventures Company Ltd has been crowned the winner of the Outstanding Travel and Tourism Award at the 2023 Caribbean Global Awards, triumphing over 17 international contenders. The prestigious accolade was presented during a grand ceremony held at London’s Cumberland Hotel on September 27. Julian Adjodha, the company’s owner and director, described the moment as surreal, recalling how he felt frozen in time when their name was announced. ‘Considering the calibre of esteemed people in the room and the global media coverage, I was truly stunned,’ he shared. Michaelene Holder-March, Founder and CEO of Caribbean Global Brand, praised Island Adventures in a congratulatory letter, emphasizing its exemplary contributions to the Caribbean community and its global diaspora. She highlighted the company’s unwavering commitment to safety, organizational development, and leadership, as well as its transformative impact on clients and stakeholders. Adjodha attributed the company’s success to years of dedication, teamwork, and a strong partnership with Sandals’ Island Routes, Sandals’ in-house tour brand. He emphasized the importance of excellent customer service, noting that every interaction with clients is treated as a valuable contribution. With over 25 years of operation, Island Adventures has established itself as a leading tourism service provider in Saint Lucia, boasting a 4.9 rating and nearly 1,500 reviews on Tripadvisor, securing the top spot among 87 tour operators in Gros Islet. The Caribbean Global Awards, now in its third year, celebrates Caribbean heritage and global influence while honoring outstanding achievements across various fields.
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CAF and ECCB to mobilise climate and development finance for ECCU
In a landmark move to bolster climate and development financing, the Development Bank of Latin America and the Caribbean (CAF) has joined forces with the Eastern Caribbean Central Bank (ECCB). This strategic partnership, formalized through a Memorandum of Understanding (MOU), aims to accelerate the transition of the Eastern Caribbean Currency Union (ECCU) toward greener, more resilient, and digitally advanced economies. The agreement was signed on the sidelines of the 2025 Annual Meetings of the World Bank Group and the International Monetary Fund in Washington, D.C., by Sergio Díaz-Granados, Executive President of CAF, and Timothy N. J. Antoine, Governor of the ECCB. The collaboration establishes a robust framework to strengthen financial systems, enhance access to climate finance, and foster sustainable growth across the ECCU’s eight member nations. Key focus areas include renewable energy, energy security, digital transformation, private sector competitiveness, and institutional capacity building. Díaz-Granados emphasized that the partnership underscores CAF’s commitment to addressing the region’s complex challenges, such as climate vulnerability and limited access to affordable capital. Governor Antoine hailed the agreement as a timely and pivotal step toward achieving the ECCU’s development goals, emphasizing its potential to unlock financing, technical expertise, and grants. This alliance builds on CAF’s growing presence in the Caribbean, where it now counts six shareholder countries, including two members of the Organisation of Eastern Caribbean States (OECS) that have completed the incorporation process. Since establishing its Caribbean Regional Management Office in Trinidad and Tobago in 2022, CAF has been actively supporting small island economies through financing, technical assistance, and knowledge-sharing initiatives.
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PickUP Barbados marks five years of driving change
This week marks the fifth anniversary of PickUP Barbados, a homegrown ride-hailing company that has revolutionized transportation across the island while generating hundreds of jobs and fostering stronger community ties. According to regional manager Hannah Gill, the platform currently boasts approximately 600 registered drivers, with ride volumes consistently increasing each year. This growth has translated into more opportunities for the taxi community, as the app eliminates the need for drivers to wait in specific locations for work. Since its inception, PickUP has upheld its commitment to drivers by maintaining stable commission rates and offering additional perks, such as preferred financing through Signia Globe and discounts on tires and batteries via Quality Tyre Plus. Gill emphasized that these initiatives are among the company’s most significant achievements, adding, “We’ll continue to work for the drivers to keep getting value for them.” Beyond employment, PickUP has deepened its community engagement. Earlier this year, the company introduced a wheelchair-accessible vehicle category on its app, collaborating with the National Council for the Disabled to provide $2,000 in ride credits to members. In June, free rides were offered to blood donors, and a long-term partnership was established with the Kiwanis Club of Bridgetown. Additionally, PickUP sponsored the FEMUND World Domino Championships Barbados team, showcasing its support for local passions and traditions. Reflecting on the challenges of the past five years, Gill highlighted the complexities of launching during the COVID-19 pandemic, navigating local regulations, and understanding the unique culture of drivers and passengers in a tourism-driven economy. She stressed the importance of having a locally based, 24/7 support team, noting that local knowledge can significantly impact a tourist’s holiday or a commuter’s day. Looking ahead, PickUP plans to implement technological advancements while remaining focused on local sustainability and driver support. Gill concluded, “The vision of success is rooted in local sustainability… continuing to elevate the transport sector, maintaining income stability for drivers, and impacting the community through give-back efforts.”
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Uber moves to calm backlash
Uber has officially announced that its platform in Barbados, set to launch next Wednesday, will exclusively feature licensed taxis. This decision comes in response to concerns raised by local drivers who feared the introduction of private vehicles could undermine the island’s taxi industry. In a recent statement, Uber clarified that its service in Barbados will strictly adhere to the Transport Authority’s regulations, ensuring that fares are fully compliant and drivers are paid the mandated rates. The company emphasized that only the Uber Taxi product will be available on the app, accessible solely to licensed taxi operators. Additionally, Uber acknowledged that during the initial testing phase, some fare discrepancies occurred due to automated discounts but assured drivers that they would receive compensation based on the regulated rates. This move aims to align Uber’s operations with local industry standards while addressing the apprehensions of Barbados’ taxi community.
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Ansa McAl agrees to buy, distribute Guyanese products in Caribbean
In a landmark decision, the Trinidad-based Ansa McAl Group of Companies has committed to purchasing and distributing Guyanese products across its Caribbean supermarket chain. The announcement was made during a sod-turning ceremony at Chateau Margot, East Coast Demerara, where a state-of-the-art mall valued at over US$50 million is set to be constructed. The project, spearheaded by a Chinese company, is expected to be completed within two years and will include sporting facilities such as volleyball and basketball courts, as well as a farmers’ market and stalls for Indigenous Peoples to showcase their products.
Ansa McAl’s CEO, Anthony Sabga II, was inspired by Guyana’s President Irfaan Ali’s ambitious vision for collaboration between the government and private sector. President Ali emphasized the importance of removing trade barriers and ensuring Guyanese products gain a foothold in Caribbean markets. He also highlighted the need for investment in the value chain to position Guyana as more than just a retail hub.
The partnership aims to support small farmers and producers by consolidating their goods into shipping containers for distribution. President Ali expressed his disappointment at the lack of Guyanese products on Caribbean shelves and urged Ansa McAl to work with the New Guyana Marketing Corporation to facilitate this initiative.
This collaboration marks a significant step in regional trade, with Guyana seeking to leverage its contributions to the Caribbean for mutual economic growth. The project also underscores the potential for further investment in Guyana’s agricultural and industrial sectors, with a focus on value creation and infrastructure development.
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Joseph: ‘Ripple effect may extend to consumers’
In a significant move during the October 13 budget presentation, the government announced a sharp increase in excise duties on spirits, beer, and tobacco, leading to an immediate surge in retail prices. Dianne Joseph, President of the TT Coalition of Services Industries (TTCSI), highlighted the dual implications of this decision: a potential boost to public health by curbing harmful consumption and a strain on the alcohol and tobacco industries. Joseph emphasized that while the policy aims to reduce alcohol-related accidents, violence, and diseases, it also places substantial cost pressures on major manufacturers like Carib Brewery and Angostura. These companies, being significant employers, may have no choice but to pass the increased costs onto consumers, potentially leading to higher prices for events and hospitality services. Balliram Maharaj, CEO of ADM Import and Export Distributors Ltd and Mayor of Arima, noted that such tax hikes are a common revenue-generating strategy for governments, especially given the decline in foreign exchange. Finance Minister Davendranath Tancoo detailed the new excise rates: spirits now face a duty of $158.50 per litre of pure alcohol, up from $79.25, while beer duties doubled to $10.28 from $5.14. Cigarette excise also doubled to $10.52 per pack of 20. Local companies have already adjusted their prices, with Carib, Stag, and Pilsner bottles now retailing at $13, up from $10, and Angostura 1919 seeing a price increase to $349.99 for a 750ml bottle.