分类： business

CEO Baitali Group: Suriname heeft geen geldprobleem, maar planningsprobleem

Suriname stands on the cusp of a transformative economic shift as its emerging oil and gas sector unlocks a historic new opportunity for national growth — but without a binding, long-term development strategy, the country is at severe risk of repeating the mistakes that left past natural resource windfalls failing to deliver sustained prosperity, a top industry leader has warned.

Speaking at a CEO Talk hosted by the Suriname Association of Economists (VES), Farsi Khudabux, chief executive officer of the diversified Baitali Group, outlined that money has never been the core barrier to Suriname’s progress. For decades, the nation has generated substantial revenue from natural resources including bauxite, gold, and earlier oil exploration, in addition to receiving consistent international development assistance. What has consistently been missing, Khudabux argued, is a structured strategy to convert that natural wealth into long-term, inclusive development and lasting improved living standards for the population.

During his address, which covered both Baitali Group’s expansion trajectory and the broader state of Suriname’s business climate and economic future, Khudabux emphasized that Suriname has long been blessed with abundant natural resources, but has repeatedly failed to capitalize on these assets to build broad-based economic stability. The current wave of oil and gas development, he noted, delivers a rare second chance to get it right — but only if policymakers abandon the fragmented, short-term approaches of the past.

Khudabux called for an end to the pattern of short-term development plans that are rewritten with every change of government. Instead, he urged the country to adopt a cohesive 20 to 30-year national development vision that clearly identifies priority sectors, maps out required infrastructure investments, and locks in this long-term trajectory to prevent incoming administrations from scrapping existing plans and restarting from scratch each time.

A key additional warning from the CEO is that the oil and gas boom must not create a new pattern of one-sided economic dependence. Suriname already holds untapped potential in gold mining, fertile agricultural land, and a range of other non-energy sectors, Khudabux said. Rather than allowing the economy to become overly reliant on oil exports, new oil revenues should be used to intentionally build up these other sectors and create a far more diversified, resilient national economy. In Khudabux’s vision, the Suriname of the future should be defined by strong education systems, modern connected infrastructure, robust public institutions, a diversified economic base, a culture of innovation, and broadly shared improvements to quality of life.

To achieve this vision, Khudabux stressed that education reform is a non-negotiable first step. Current education curricula are poorly aligned with the skills Suriname needs to grow its priority sectors, he argued, noting that the country cannot aim to develop oil and gas, infrastructure, agriculture, and technology sectors while failing to train a domestic workforce capable of filling roles in those industries. Baitali Group already faces this skills gap firsthand, Khudabux said, so the firm has invested in developing its own in-house training and skills development programs to meet its personnel needs. Today, Baitali Group operates across a wide range of key Surinamese sectors, including construction and infrastructure, transport and logistics, agribusiness, energy, telecommunications, oil and gas, and knowledge development.

Khudabux also pointed to neighboring Guyana as a useful case study for Suriname. While he emphasized that Suriname does not need to copy every part of Guyana’s approach, the country can learn critical lessons from how Guyana prepared for its own oil boom. When oil revenues began flowing to Guyana, the country was able to rapidly roll out large-scale infrastructure projects, a speed of delivery that Khudabux says proves long-term planning and spatial preparation began years before revenues arrived.

“Making plans does not cost money,” Khudabux stated during his presentation, framing this as a core warning for Suriname. The country should not wait until large oil revenues start arriving to identify where new roads, bridges, economic zones, and other critical investments need to be built, he said. Land for future infrastructure projects must be reserved now, even before development breaks ground, and Khudabux warned that large swathes of valuable land have already been allocated without a cohesive long-term plan in place to guide national development.

For Khudabux, the oil and gas sector will serve as a critical funding source for national development, but it is not a development strategy on its own. His central message to Suriname’s policymakers is clear: this time, the country must first define where it wants to be in 20 to 30 years, then allocate upcoming resource revenues to hit those long-term targets. Without a binding long-term vision, strong institutions, aligned and improved education, and planned modern infrastructure, Khudabux warned, Suriname will face the same disappointing outcome it has seen in the past: massive natural resource revenues, but no sustained, inclusive national development.

14 8 月, 2026
Chicken shortage drives up depot prices

Trinidad and Tobago is grappling with an extended, nationwide chicken shortage that has put massive economic pressure on local poultry depot operators, who have been forced to pass rising costs and limited stock onto consumers. Multiple depot owners interviewed by the Express have pushed back against the government’s official explanation that extreme weather is the root cause of the crisis, highlighting how ongoing supply chain disruptions have upended their day-to-day operations.

One operator from Reeyad’s Poultry Depot in San Juan, who requested partial anonymity, explained that while daily delivery volumes have held relatively steady, the chickens being supplied are far smaller than the industry standard, forcing the business to adjust its pricing and product offerings. “We get a good amount every day, (but) the chickens are smaller, we had to raise prices, and because of that, we had to cut back on the amount of chicken parts we sell. So, we basically are limited to selling only whole chickens,” he shared in a telephone interview. To offset the higher wholesale costs he faces, the depot has implemented gradual price increases of $1 to $2 per pound, and he stressed that the ongoing crisis is far outside the seasonal norms the sector typically experiences, calling the situation “not normal.”

Nagib Ali, owner of Nagib’s Poultry Depot based in Freeport, has gone even further in rejecting the Ministry of Agriculture’s weather-based explanation. Ali, a veteran industry operator, noted that while temporary supply dips do occur twice annually, the current shortage has stretched far longer than any disruption he has seen in his years in business. “It’s probably twice a year we experience this, but not for this lengthy period. It never happened like this before. I don’t believe it’s the sun that’s causing this,” Ali said. The shortage has forced Ali to cut back his operating schedule, with the business only opening a few days each week as he waits for consistent supply to resume.

Ali also pushed back on the heat narrative by pointing to modern infrastructure used by local poultry farms, which is designed to offset extreme temperatures. “Some people say it’s (foreign exchange); some people say it’s because of the heat. I don’t really believe that heat reason because of the modernised pens with big extractor fans. Some of these pens even have (air-conditioning units),” he explained. Like the San Juan operator, Ali confirmed that his allocated delivery quota remains consistent, but the birds are smaller and wholesale costs have skyrocketed. Over three weeks, prices have jumped from between $6 to $8 per pound to $10 per pound, crossing a 100% increase from the start of the crisis.

Not all industry operators share the same grim outlook, however. An unnamed depot owner based in Chaguanas noted that minor seasonal shifts are standard at this time of year, and predicted that supply and pricing will return to normal levels within approximately three weeks. For the immediate future, she confirmed that consumers should still expect smaller than average chicken sizes across the market.

In response to the ongoing consumer and industry disruption, Trinidad and Tobago’s Ministry of Agriculture and Fisheries has outlined a series of long-term policy and infrastructure measures designed to stabilize the national poultry sector, even as officials acknowledge that expanding egg production alone will not resolve current shortages. The centerpiece of the government’s plan is a new large-scale poultry breeding and hatchery facility, to be developed through a public-private partnership (PPP) that is currently accepting expressions of interest from private investors and operators.

If completed, the facility will produce fertile hatching eggs, breeder stock, and day-old chicks for both the broiler chicken and egg layer sectors right within Trinidad and Tobago, eliminating the country’s reliance on imported core inputs. Officials explain that building domestic production capacity will not only cut foreign exchange spending and create local jobs, but will also strengthen the nation’s food security and biosecurity by reducing vulnerability to global supply chain disruptions.

The government has also already taken short-term steps to diversify its international supply chain for poultry inputs, adding the Netherlands as an approved sourcing destination for hatching eggs and live chicks alongside the existing main supplier, the United States. In response to global concerns over Highly Pathogenic Avian Influenza (HPAI), the ministry clarified that its import policies follow science-based, risk-aligned standards set by the World Organisation for Animal Health (WOAH), rather than implementing blanket bans on all imports from countries that report HPAI cases. Under this framework, imports are permitted from designated disease-free zones that meet strict veterinary and biosecurity requirements, allowing the country to balance animal health protection with consistent input supply for local farmers.

Ministry officials emphasized that a stable, secure domestic poultry supply depends on the resilience of the entire value chain, from access to high-quality chicks and feed to reliable infrastructure, veterinary services, labor, and transportation. The new national breeding facility is designed to act as a foundational anchor for this entire system, bringing modern infrastructure, enhanced biosecurity and traceability, and new opportunities for developing local technical expertise to the sector. Moving forward, the ministry will continue to support sustainable, planned growth of the local egg and poultry industries, using national production and consumption data to guide policy and strengthen local production, cut supply chain vulnerabilities, and ensure consumers have consistent access to affordable poultry products.

14 8 月, 2026
Middle East conflict fuels rising costs as Nevis Premier warns against unsustainable subsidies

As ongoing Middle East tensions between Israel, Iran, and the United States grind on with no immediate diplomatic resolution, small Caribbean island nations including St. Kitts and Nevis are already grappling with the tangible economic spillover of the global instability. The core disruption stems from increased volatility at the Strait of Hormuz, the strategic chokepoint that carries roughly one-third of the world’s seaborne crude oil shipments. Persistent threats to shipping through this route have driven global energy prices sharply upward, rippling through supply chains and lifting overall inflation across the Caribbean, a region heavily dependent on imported energy and food. In a recent interview with local broadcaster WINN FM, Nevis Premier Mark Brantley laid out the difficult policy tradeoffs facing regional governments, warning that indefinite, broad-based energy subsidies to offset rising consumer costs are not financially viable for small island economies.

While Brantley acknowledged that expanding subsidies is politically popular among voters struggling with soaring fuel and electricity bills, he emphasized that maintaining such costly interventions would pose catastrophic long-term risks to Nevis’s public finances. Brantley reminded residents that the Nevis Island Administration (NIA) already enacted significant relief measures after the COVID-19 pandemic, eliminating residential fuel surcharges and capping commercial surcharges for a four-year period. But the sudden surge in global energy prices triggered by the Middle East conflict pushed the cost of these subsidies far beyond what the small government could absorb without sacrificing core public services.

“Government couldn’t hold the line. It really would have been reckless of us in the extreme to continue that subsidy because it would have wiped out our ability even to pay salaries,” Brantley said. He explained that unlimited subsidies would inevitably divert funding away from non-negotiable public priorities including healthcare, education, and road infrastructure, arguing that governments have a fundamental responsibility to balance short-term relief with long-term fiscal stability. Brantley also called for more transparent public dialogue about the hard tradeoffs required during periods of global economic uncertainty, pushing back against empty political promises of unlimited relief that ignore the long-term costs to essential services. While Brantley acknowledged that the recent reinstatement of the fuel surcharge has created financial hardship for Nevis residents, he added that households can help mitigate their own costs through small behavioral changes, such as cutting unnecessary electricity use by turning off unneeded air conditioning when out of the home, to lower monthly energy bills.

Separately, in its updated 2026 World Economic Outlook report, the International Monetary Fund (IMF) offered its assessment of how the current energy shock is expected to impact Caribbean economies. The IMF said the regional growth outlook remains largely consistent with its April 2026 projections, but higher oil and food prices will create divergent outcomes across different types of economies in the region. Tourism-dependent economies, which make up the majority of Caribbean nations, will bear the brunt of the shock through higher import costs and accelerating inflation, while net commodity-exporting countries stand to benefit from improved terms of trade driven by elevated global energy prices.

Specifically, the IMF projects that growth in tourism-dependent Caribbean economies will decelerate to 0.9% in 2026 before rebounding to 2.5% in 2027. For commodity exporters excluding Guyana, growth is forecast to hit 1.5% in 2026 and rise to 3.3% in 2027, lifted by higher global oil prices. Regional average inflation is expected to climb to 6.6% this year, with overall economic risks tilted firmly to the downside. The Fund added that additional headwinds include a potential slowdown in major source markets for Caribbean tourism, most notably the United States, which would further drag on regional growth. Combined with higher import costs and tighter global financial conditions, these pressures are already placing significant strain on small island government budgets. The IMF also noted that Caribbean economies face compounded uncertainty from ongoing geopolitical tensions globally and the constant risk of destructive natural disasters, a persistent vulnerability for small island states.

Aligning with Brantley’s warnings about unsustainable spending, the IMF advised regional governments to prioritize targeted, temporary relief for low-income and vulnerable households rather than broad, untargeted subsidies that erode long-term fiscal stability. Given the Caribbean’s already high public debt levels, persistent global uncertainty, and inherent natural disaster risk, the IMF stressed that rebuilding fiscal buffers must be a top policy priority. It further recommended that governments strengthen fiscal governance frameworks, improve domestic revenue collection, and streamline public spending to build greater resilience against future economic shocks. The IMF concluded by reaffirming its commitment to supporting Caribbean nations, stating that it stands ready alongside international partner organizations to provide policy guidance, technical assistance, and targeted financing where needed to help the region navigate the current turbulence.

14 8 月, 2026
De FATF-klok tikt, Suriname rent weer op het laatste moment

As a critical international deadline looms, Suriname is racing against the clock to implement remaining regulatory measures against money laundering, terrorist financing and proliferation financing to avoid being blacklisted by the Financial Action Task Force (FATF), the global standard-setter for combating illicit financial activity. To prevent lasting damage to the country’s international financial standing, new legislation must be passed, executive decrees finalized, and regulatory institutions strengthened—all at a pace that has put the nation’s long-proven ability to deliver under last-minute pressure to the test. For decades, Suriname has developed a reputation for slipping through regulatory deadlines at the eleventh hour, and many observers expect that pattern to hold this time around. While legislation can technically be rushed through parliament overnight, building a robust, fully functional anti-illicit finance system is a far more complex task that cannot be completed in hours.

14 8 月, 2026
Khudabux: Compliance wordt in Suriname afgestraft, non-compliance loont

Speaking at a recent CEO Talk hosted by the Suriname Association of Economists (VES), Farsi Khudabux, chief executive of leading local firm Baitali, has delivered a searing critique of Suriname’s deteriorating business climate, warning that law-abiding enterprises are increasingly disadvantaged compared to competitors that cut corners or openly flout existing regulations.

In his presentation, Khudabux outlined five major systemic bottlenecks holding back Suriname’s private sector: businesses are not taken seriously by authorities, weak enforcement of existing laws and regulations, routine violations of public procurement rules, excessive foreign influence over domestic decision-making, and the overuse of limited government funding as an excuse to delay necessary actions for economic development.

“In Suriname today, compliance is punished, and non-compliance pays,” Khudabux stated, adding that the operating environment for legitimate businesses is increasingly taking on the characteristics of the “Wild West.” He explained that unlicensed, unauthorized operations are allowed to continue in multiple sectors without meaningful intervention from regulators.

As a concrete example of this unfair dynamic, Khudabux pointed to the cross-border crushed stone trade between Suriname’s Nickerie district and Guyana. Vessels carrying crushed stone traverse the Corantijn River without required export documentation, notifications to the Suriname Maritime Authority, or payment of mandatory port fees and other legal levies. This creates an immediate cost disadvantage for businesses that follow all regulatory requirements.

The crushed stone market operates on extremely thin margins that depend on high sales volume to generate profit, meaning even small cost differences can drive compliant firms out of the market. Khudabux revealed that Baitali was forced to shut down one of its operations as a direct result of this unfair competition, eliminating 34 jobs in the process.

Khudabux did not limit his criticism to government failures. He also called out Suriname’s organized private sector for failing to present a unified, strong front to advocate for fair rules. Business associations, he argued, have a responsibility not only to represent member interests but also to hold the government accountable for its commitments. He cited widespread late payments to contracted businesses by the government, sudden unannounced policy shifts, and unnecessarily lengthy permit approval processes as common issues that industry groups accept too passively. When the government breaks its agreements, Khudabux said, trade associations often respond only with mild, cautious statements, a practice he labeled “baking sweet buns” – or avoiding tough confrontation. “We need to get serious about doing business in Suriname, even when that means holding the government accountable,” he said.

On the topic of public procurement, Khudabux was equally sharp, noting that the government’s own procurement rules are routinely ignored from the initial publication tender periods through to bid evaluation and final contract awards. He called this situation particularly contradictory amid widespread official rhetoric about boosting local content and supporting domestic enterprises. “A country cannot claim it wants to strengthen local businesses on one hand, then allow those same firms to be disadvantaged by broken procurement rules and unequal competitive conditions on the other,” he said.

Khudabux also raised alarms about the outsized influence of foreign financial institutions and donors on Suriname’s national decision-making. He highlighted an infrastructure case where a foreign financier pressured the Surinamese government after a domestic court issued a final ruling, arguing that foreign funding must never be placed above the authority of Suriname’s own legal system.

Khudabux emphasized that his critique was not intended as a simple list of complaints, but as a call for systemic change aligned with a broader vision for a healthier Surinamese economy. A thriving business climate requires more than just capital and headline GDP growth, he argued: it depends above all on predictable policy, a level playing field for all enterprises, independent public institutions, and consistent enforcement of the rule of law. This, Khudabux added, also requires a cultural shift within the private sector itself. Rather than waiting for problems to resolve themselves, local business leaders must come together to demand clear, equal rules for all market participants and hold the government to its own commitments. “This is not complaining,” he stressed. “This is a call to action.”

14 8 月, 2026
Trust Issues Cloud BTL-Speednet Acquisition

In a developing business story out of Belize’s telecommunications sector, the proposed acquisition of Speednet by BTL is facing growing pushback from a group of former company employees, who say vague public assurances about the deal’s national benefits are not enough to win their trust. The Belize Communication Workers for Justice (BCWJ), the group leading the campaign, is demanding full public disclosure of key details of the merger: how Speednet’s assets have been valued, what impacts the consolidation will have on existing and former staff, and why the Belizean public should accept a deal already signed off by BTL’s board of directors without independent scrutiny.

BCWJ organizer Emily Turner argues that BTL’s long track record of poor accountability makes it impossible for workers and the public to take the board’s assurances at face value. In comments echoed across the group’s campaign, Turner laid out the specific information the BCWJ says Belizeans are entitled to access. “Belizeans should be shown the financial basis for the valuation, the technology assessment, the full integration cost, effect on competition and prices, and plan for workers,” Turner said. “We are not asking the public to take BCWJ’s word for it. We are asking BTL to show Belize the evidence.”

Turner added that little progress has been made on transparency since the BCWJ first raised concerns in January 2026, noting that BTL has released no new information to the public or key social partner groups to address initial questions. “That’s the reason why we have decided to also come out and show our solidarity with the social partners on this matter,” she said. “It is an issue at the heart of what we represent. We believe that at the heart of this issue is accountability. And we have had our challenges with BTL when it comes to accountability and BTL is asking us to take their word for it. And that is something that we have had a struggle with doing.”

Beyond transparency concerns, the former workers warn the merger poses a direct threat to job security for existing BTL staff, particularly long-tenured employees who helped build the company. The BCWJ fears that corporate claims of pursuing “operational efficiencies” will be used to justify another round of layoffs, echoing past restructuring events that displaced longtime workers.

Turner said there are already early signs of this pattern unfolding, with employees from Speednet’s consumer brand Smart being placed in senior leadership roles at BTL ahead of the merger’s finalization. As restructuring moves forward, she argued, frontline and long-serving BTL workers will be the first to face displacement, while executive leadership pay and roles remain untouched.

“They are already bringing in smart employees and they are giving them higher positions than the current BTL employees,” Turner explained. “When a company is talking about efficiencies, they are not talking about cut salaries from the C-levels and the GMs or bring down the money that the directors get paid. They are not talking about that, they are talking about the people all the way at the bottom, those are the people where they will find the efficiencies with.”

Turner added that layoffs have a devastating impact on working households, particularly for workers who have dedicated decades of their careers to BTL. “It’s very hard, especially if you are the person that is the main provider in your family, it’s a challenge,” she said.

What once started as tentative support for the acquisition among current BTL workers has now shifted sharply to opposition: a recent internal poll of workers found that 84% of respondents now vote against moving forward with the Speednet purchase. This report is a transcript of a televised evening newscast, with all informal and Kriol language transcribed using a standard spelling system.

14 8 月, 2026
146 Former BTL Workers Take Severance Fight to Court

Nearly 150 former employees of Belize Telemedia Limited (BTL) are taking their long-running dispute over unpaid and insufficient severance compensation to the court system, marking a new escalation in a conflict that has left hundreds of former workers without agreed-upon separation pay. The collective legal action, organized by Emily Turner of the advocacy group Belize Communication Workers for Justice, brings together 146 former staff members who say they have exhausted all informal avenues to resolve their claims with the telecommunications firm, forcing them to retain outside legal representation from the Trinidad and Tobago-based firm Virtuous Chambers. Turner outlined three distinct groups of wronged workers that make up the current lawsuit: employees who received partial severance but were denied the mandatory 6% interest owed from the date of their separation, workers who submitted formal claims as requested by BTL but never received any response despite repeated follow-ups, and former staff who were arbitrarily disqualified from receiving any severance pay at all without clear justification. “Former workers have tried every possible route to settle this fairly,” Turner explained in remarks prepared for a televised newscast. “Many submitted proof of their employment start dates, shared their social security contribution histories, and presented all the required documentation to verify their claims, but holding BTL accountable has proven an almost impossible task.” On Tuesday, the newly retained legal team sent BTL a formal pre-action protocol letter, notifying the company of the 146 claims and demanding full transparency around all employee records related to the dispute. Under the terms of the letter, BTL has seven calendar days to acknowledge receipt of the notice, and 30 days to turn over complete documentation for every individual claim included in the legal action. The dispute over BTL severance pay has been an ongoing issue for former employees for months, with many workers reporting that the company has failed to honor its original commitments on separation compensation. For workers who have already waited years for the pay they are owed, the court filing represents the only remaining path to securing what they say is rightfully theirs.

14 8 月, 2026
“$80 Million Deserves Answers”: BCWJ Tells BTL to Show Its Math

A newly formed labor advocacy organization is escalating tensions around Belize Telemedia Limited’s (BTL) planned $80 million acquisition of telecommunications rival Speednet/Smart, demanding full public transparency for the proposed deal’s valuation and outstanding corporate obligations.

The Belize Communications Workers for Justice (BCWJ), the latest group to throw its weight against the merger, formally renewed its opposition in an official statement released Wednesday, challenging BTL to break down exactly what assets are included in the eight-figure purchase price.

Currently, BTL claims it can integrate Speednet’s entire customer base onto its existing telecommunications infrastructure. Given that, BCWJ argues the Belizean public is entitled to a clear, detailed breakdown of how Speednet’s core assets – including its digital technology, physical network infrastructure, wireless spectrum licenses, existing customer base, and other intangible assets – were calculated to reach the $80 million valuation.

Beyond valuation transparency, the group is pushing for a full regulatory and independent review of the transaction before any approval is granted. Specifically, BCWJ is calling for the release of multi-year audited financial records for Speednet, an independent third-party valuation of the company’s assets, a formal technical audit of Speednet’s infrastructure, and a public assessment of how the acquisition would reshape market competition, impact consumer pricing and service quality, and affect existing jobs at both companies.

The organization has also thrown a second major issue into the debate: BTL’s long-unresolved severance and gratuity claims from hundreds of former employees. According to BCWJ, legal representatives for 146 ex-BTL workers submitted a Pre-Action Protocol Letter to the company on August 10, formalizing their outstanding claims for unpaid statutory benefits. While those individual claims are now moving through the national court system, BCWJ argues the unresolved liability creates a critical question that regulators and company leaders must address before the acquisition moves forward.

“Before BTL commits $80 million to acquire another company, has it fully quantified and provided for its unresolved obligations to former workers?” the group asked in its statement.

BCWJ is now calling on all relevant national oversight bodies – including BTL’s own leadership, the Social Security Board, the Public Utilities Commission, and Belize’s national Cabinet – to impose a full, unredacted scrutiny of the proposed transaction, rejecting any push for a quick approval without public disclosure. Closing its statement, the organization emphasized its core demand for accountability: “$80 million deserves answers. Show Belize the evidence.”

13 8 月, 2026
BCCI Denies Refusing Cabinet Meeting

In a public statement released on August 13, 2026, the Belize Chamber of Commerce and Industry (BCCI) has moved quickly to correct widespread misreports claiming it refused an invitation to attend a Cabinet meeting discussing the controversial proposed BTL-Speednet acquisition. The business advocacy group emphasized that characterizations of its refusal to engage are entirely inaccurate and a deliberate mischaracterization of the situation.

According to the official BCCI statement, the chamber’s top leadership – its president and chief executive officer – were already committed to an official trade mission when the Thursday meeting was scheduled. Both executives are part of the official Belizean government delegation traveling to El Salvador, where they will remain through August 14 to participate in the formal signing of the new Belize-El Salvador Partial Scope Agreement. This landmark trade agreement, which the BCCI has long supported, is projected to unlock significant new cross-border commercial opportunities for hundreds of small and medium-sized Belizean businesses operating across key sectors of the national economy.

Rather than turning down the meeting out of reluctance to discuss the acquisition, the BCCI explained that it formally requested a short rescheduling to accommodate this pre-existing, high-priority international commitment. The chamber has underscored that it remains fully willing and prepared to sit down with Cabinet, alongside all of Belize’s other social and industry partner groups, at any point before the scheduled final Cabinet vote on the acquisition, which is set to take place on August 18.

Turning to the substance of the proposed acquisition itself, the BCCI reaffirmed that its official position on the deal remains unchanged. The organization confirmed that its core concerns related to four critical areas – long-term market competition in Belize’s telecommunications sector, transaction transparency, corporate governance standards, and independent regulatory oversight – have not yet received clear, direct responses from the Belizean government. The BCCI stated that it will continue pressing for definitive answers from public officials before the final decision is made, to ensure any approved acquisition aligns with the best interests of Belize’s business community and broader national economy. The statement also comes amid separate reports that independent senators have pushed back against claims from BTL that they were invited to weigh in on the proposed transaction.

13 8 月, 2026
Dominican Republic creates council to protect “Dominican Cigar” designation

SANTIAGO — The Dominican Republic has taken a landmark step to protect one of its most iconic export sectors, officially launching the Regulatory Council for the Geographical Indication (GI) of “Dominican Cigar”. The initiative is designed to shield the long-standing authenticity, consistent quality, and global prestige of the Dominican Republic’s world-famous cigar industry from counterfeit products and inconsistent manufacturing practices.

Uniting six key public and private entities across the country’s tobacco and trade ecosystem, the council includes the Dominican Tobacco Institute (Intabaco), the Ministry of Industry, Commerce and MSMEs, Procigar, ProDominicana, the Dominican Institute of Quality (Indocal), and the National Office of Industrial Property (Onapi). Iván Hernández Guzmán, the director of Intabaco, has been appointed to lead the newly formed governing body.

The council’s mandate covers every stage of the supply chain for cigars carrying the coveted “Dominican Cigar” GI label. From the initial planting and harvesting of tobacco leaves through manufacturing, packaging, and final storage, the body will monitor adherence to strict production standards that define the GI designation. Beyond regulatory oversight, the council will also lead proactive branding efforts for Dominican cigars, amplify global marketing initiatives, and deliver targeted training programs for all registered producers to maintain consistent quality.

Néstor Julio Matos, director of Indocal, emphasized that the new oversight structure will directly reinforce consumer trust. By systematically enforcing compliance with two key national standards — Nordom 481 and Nordom 482 — the council will ensure that every product bearing the “Dominican Cigar” label meets the rigorous quality benchmarks consumers around the world expect.

The creation of the council is rooted in existing national legal frameworks: it was established under Law 20-00, which governs industrial property in the country, and Law 34-18, which outlines the mandate of Intabaco. The cross-sector collaboration between public and private stakeholders is designed to bring together diverse expertise to support the industry’s growth. Onapi will contribute specialized legal guidance to uphold GI rules, while Indocal will provide technical support to preserve the integrity of the entire certification process.

13 8 月, 2026