Government of Belize Signs Memorandum of Understanding with International Airport Alliance Belize Limited
The Government of Belize on Tuesday, December 12, 2017, signed a Memorandum of Understanding (MOU) with International Airport Alliance Belize Limited (the “Developer”), seeking to develop and manage a full-service International Airport on Northern San Pedro, Ambergris Caye, namely the Efrain Guerrero International Airport (the “Project”).
The proposed Project, inclusive of a terminal building, runway, taxiway, apron and other ancillary facilities, is valued at about USD$100 million, with plans to employ approximately 181 Belizeans during the operational phase. The Project expects to bring long-term socio-economic benefits to Belize and add further value to its thriving tourism industry.
The MOU, which establishes the general framework that guides the standard investment facilitation process, was signed by the Hon. Erwin Contreras, Minister of Economic Development, Petroleum, Investment, Trade and Commerce on behalf of the Government of Belize. Mr. Jorge Abraham Jaen signed on behalf of International Airport Alliance Belize Limited. The Cabinet Sub-Committee for Investments, chaired by the Hon. Tracy Taegar Panton has been integral in the ongoing investment facilitation process.