In its 5th year of existence, The Belize American Chamber of Commerce - which is based in Florida - is expanding to other major US cities. The idea is to attract more investment to Belize. They recently opened an office in Houston - and that's where they are having an investment forum on February 28th. The Executive Director told us more today:
Michael D. Young, Belize American Chamber of Commerce Ltd.
"The Investment for Rom is where Belize actually goes to the US on a platform and says these are the projects ewe have, these are the shovel ready projects. You know, if there is any interest with qualified investors, vetted investors we try to create that bridge and that good flow, you know, just to make the two connect, to match make."
Jules Vasquez- Reporter
"Many investors, when they look at small developing countries like Belize, what they are looking for is a license to do something and then they go and get the license from the government through the connections you create and then they don't have any money and then they go to the states and say, 'We ain't got no money but we got here a license.' It's called a dead raise. How do you parcel people like that?"
Michael D. Young
"Well, that's the whole point right. We look for smart money out there. And, you know, with the enhanced due diligence we have to cross our t's and doth our i's. We have a board of directors and on our board, we have an attorney and her law firm, Ms. Richman and so forth and we run everybody through the vetting process first. Now before we refer it, we actually try to do like a proof of resource or proof of funds and stuff like that and we also have to do source of funds and all of that stuff. So, we run it through legal."
Young's group plans to open a California office in the summer.
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