ItÂs been revealed that two new Belizean markets have been given the green light for construction, with the contracts being signed on Wednesday October 2nd. Â Benque Viejo del Carmen Town and Independence Village will have the government-funded marketplaces developed as part of the Belize Rural Development Project II (BRDPII), offering locals a place to trade, sell and find employment.
For those investing in Belize, itÂs important to know that economic expansions are always occurring, offering people a good return for their money. Â Even at a small and local level, structured developments can have a huge effect on the overall economy.
The two new markets have been funded by a joint agreement between the Belizean government and the European Union (EU). Â Over the next ten months, Jebco Construction Limited will complete the Independence Village Market and Benque Viejo Market at a cost of BZE$650,787 and BZE$649,060 respectively.
Both markets are targeted towards the support of rural locals, with farmers, agribusiness small enterprises and agro processors able to access a structured commerce hierarchy. Â This results in farmers being able to earn higher incomes and, as a result, provide more job opportunities for those living in rural districts who might be having difficulty finding work.
The BRDPII project was established to promote rule-based economic growth whilst simultaneously reducing the amount of poverty noted by those living in remote regions. Â There are important localized and broad consequences for those investing in Belize because of these projects, with the economy, as a whole, expanding as a result.
In Independence Village, the new market is to be divided into two distinct buildings, with market stalls for fish and meat spread throughout. Â The buildings are to be retrofitted with plumbing and electrical fixtures, whist 275sqm of concrete walkways will allow convenience for those visiting the stalls and parking areas.
Meanwhile, the 6,000 sqm plaza in Benque Veijo will also be separated into two areas; one for 12 arts and crafts stalls and the other for six fruit and vegetable stalls. Â Portable water is to be offered for the entire market, with concrete paths constructed and a 3,800 sqm green space, including new trees, to be developed. Â It is hoped that both markets will improve local economies and have a ripple effect throughout Belize.