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Feb 11, 2019

Will Potential Taiwanese Investors Be Legit?

Tracy Panton

Back to back and in recent times, shocking Ponzi schemes and investment scandals were exposed in multimillion dollar projects in Belize. From a cursory view, the projects seemed legit, but would later turn out to be strategy used by scammers to rob investors of millions of dollars. So we asked Minister Panton what mechanisms have been put in place to ensure that these potential investors are legit. 


Tracy Panton, Minister of State, Trade & Investment

“There is a very rigorous due diligence process that we have now adopted because of some of the schemes we have learnt about recently. So when we do our due diligence vetting of investors, we include our international agencies as well. So there is preliminary work that is done by the INVEST Team at BELTRAIDE—the FIU is also involved—and there is also the involvement of the police in terms of doing background checks from the countries and the areas that these investors come from. This particular programme, there will also be vetting from Taiwanese government officials and so I feel very strongly that we will be able to use some very positive benefits for Belize—not only in terms of investment dollars, but also in creating new job opportunities for Belizeans and also getting some of our products, which this is an investment mission, but we are going to piggyback on it as much as we can to ensure that we can get some of our products into the Taiwanese market.”


Panton says that there are ongoing discussions between CARICOM and Taiwan in developing a trade agreement and Belize will be poised to take the lead in those negotiations.

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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