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Feb 12, 2016

Ayau Claims Santander Has Already Pumped Millions into Belizean Economy

Andres Ayau

Ayau says that the Santander Group has already made a significant, concrete on the ground investment in Belize – in money spent, in taxes paid, in employment and also in contributing to the nation’s overall development on the world stage.


Andres Ayau, Chief Financial Officer, Santander Group

“We have currently over nine hundred workers; seven hundred of those are Belizeans. More important than just work and what we contributed in payroll, we’ve spent over forty million U.S. or eighty million Belize dollars in local suppliers; that’s money put into your local economy. We have paid over three million dollars in taxes and social security contributions—this is U.S.—only in the project development phase. We are being certified as the…we are receiving a certification for the environmental and social standards based on the international finance corporation performance standards which will certify this project to meet all the international environmental and social standards that are required in Europe and most other countries, which tend to be stricter with than with current legislation requires. Besides that, well you’ve seen in the media, we’ve resolved certain issues with the land dispute with local farmers where we were happy to provide land for them and prepare it for them and resolve the issues. It’s a significant export operation that is going to happen. We have also developed a bulk export terminal in the Port of Big Creek that is ready to use for other bulk shippers. So we’re bringing infrastructure that is required for economic development. We are also setting up something really special because what we are doing here—and this was said by the consultants—is what will be one of the most efficient sugar operations in the world. This operation is going to put Belize on the map as one of the most efficient countries of sugar operations in the world.”

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1 Response for “Ayau Claims Santander Has Already Pumped Millions into Belizean Economy”

  1. Ricky Malthus says:

    And that is the understatement of all times!! All investments must include seed money for planning, infrastructures, management, and land acquisition in this instance. Without cheap land being made available to Mr. Ayau Santander, there would be nothing to recoup investment neither in the short nor long term. So Ayau is merely stating the obvious. Now let’s see how this plan is implemented and processed and then he can critique the output as to productivity and efficiencies. Right it is a good private investment plan and let’s keep it that way.

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