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| Term | Definition |
|---|---|
| Parliament | A legislative body, that is elected |
| Capacity building | planned development of (or increase in) knowledge, output rate, management, skills and other capabilities of an organization through acquisition, incentives, technology and/or training. |
| CARICOM | stands for Caribbean Community and Common Market and is defined as an organization made up of 15 Caribbean nations to promote economic integration among members. |
| Corresponding Banking | is a financial institution that provides services on behalf of another, equal or unequal, financial institution. It can facilitate wire transfers, conduct business transactions, accept deposits and gather documents on behalf of another financial institution. |
| Dead policy | a policy which has not been used by the government or organization |
| Doing Business Report | is a study elaborated by the World Bank Group since 2003 every year that is aimed to measure the costs to firms of business regulations in 185 countries. |
| E-governance | is the application of information and communication technology (ICT) for delivering government services, exchange of information, communication transactions, integration of various stand-alone systems and services between government-to-customer (G2C), government-to-business (G2B), government-to-government (G2G) as well as back office processes and interactions within the entire government framework. |
| E-government | is the use of information and communication technologies (ICTs) to improve the activities of public sector organizations. Some definitions restrict e-government to Internet-enabled applications only, or only to interactions between government and outside groups. |
| Economy | an entire network of producers, distributors, and consumers of goods and services in a local, regional or national community. |
| Education/Awareness Raising | educating the public and increasing awareness of the benefits of disadvantages of an activity to stimulate or discourage it. E.g.: a commercial to reduce drunk driving |
| Entrepreneurship | he activity of setting up a business or businesses, taking on financial risks in the hope of profit. |
| Economic Partnership Agreement (EPA) | are a scheme to create a free trade area (FTA) between the European Union and the African, Caribbean and Pacific Group of States (ACP). |
| Evaluation | ex post assessment to measure whether action was worthwhile and what was its impact. |
| Export Processing Zone | re areas within developing countries that offer incentives and a barrier-free environment to promote economic growth by attracting foreign investment for export-oriented production. |
| Export subsidy | generally comprises three elements: the government makes a financial contribution either directly or indirectly to a producer; a benefit is conferred by that financial contribution; and the financial contribution is conditional upon export of the product in question. Export subsidies are typically considered bad because they make exports artificially competitive. |
| Fiscal Incentive | are tax measures geared to encourage industrial development. These incentives are designed to assist manufacturing entrepreneurship. |
| Free zone | an area within in a country where imported goods can be stored or processed without being subject to import duty. |
| GDP | is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period. Though GDP is usually calculated on an annual basis, it can be calculated on a quarterly basis as well. GDP includes all private and public consumption, government outlays, investments, and exports minus that occur within a defined territory. Put simply, GDP is a broad measurement of a nation’s overall economic activity. |
| Grants | providing resources to a third party to undertake a programme of work to bring about change. |
| GSDS | means the Growth and Sustainable Development Strategy, which is the Government of Belize’s medium-term growth plan. |
| Horizon 2030 | is the Government of Belize’s long-term growth plan; it clearly outlines where the country wants to be in the year 2030. |
| Human capital | in an organizational context refers to the collective value of the organization’s intellectual property (competencies, knowledge and skills). |
| Implementation | the process of putting a decision or plan into effect; execution |
| Implementation Plan | detailed listing of activities, costs, expected difficulties, and schedules that are required to achieve the objectives of the strategic plan. |
| ISO Certification | means a business or organization meets international standards; Certification can be a useful tool to add credibility, by demonstrating that your product or service meets the expectations of your customers. For some industries, certification is a legal or contractual requirement. |
| KPI | A performance indicator or key performance indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity in which it engages. |
| Legislation | creating, amending or rescinding laws to enact change. Changing legislation typically requires an additional mechanism to support or enforce change. |
| Market Access | concerns the various trade restrictions that limit and constrain the importations of goods and services from your country into another country’s market, or that limit and constrain the importation of a good or service from another country into your country. |
| Master plan | a comprehensive or far reaching plan of action. |
| Policy | A course or principle of action adopted or proposed by a government, party, business, or individual etc. Concise Oxford English Dictionary. |
| Policymaking | ‘The process by which Governments translate their political vision into programs and actions to deliver ‘outcomes’ - desired changes in the real world’. Modernizing government, March 1999 |
| Private sector | encompasses all for-profit businesses that are not owned or operated by the government. |
| Public Private Dialogue | is a dialogue between the public sector and the private sector; it may be structures or ad hoc, formal or informal, wide-ranging or focused on specific issues. Forward-thinking governments, frustrated entrepreneurs, or third parties such as donor agencies can initiate a PPD. |
| Public Private Partnership | is a contractual arrangement between a public agency and a private sector entity. Thought this agreement, the skills and assets of each sector (public and private) are shared in delivering a service or facility for the use of the general public. |
| Public sector | the part of the national economy providing basic goods or services that are either not, or cannot be, provided by the private sector. It consists of national and local governments, their agencies, and their chartered bodies. |
| Reform | in the context of the economic development, is an intervention taken to improve and enhance service delivery by the Government of Belize that will result in an improved business climate. |
| Stakeholder consultation | is a formal process to collect input and views from key parties in regard to policy, reform or another action which will affect them. |
| Standard | a level or quality or attainment. |
| Strategy | a method or a plan chosen to bring about a desired future, such as achievement of a goal or a solution to a problem; a “Grand Strategy” is an overarching strategy which should include the policies and programs of domestic departments. |
| Sustainable development | Pending... |
| Tax | a compulsory contribution to state revenue levied by the government on workers’ income and business profits or added to the cost of some goods, services, and transactions. |
| Tax incentives | altering the cost of an economic activity to stimulate economic growth, e.g. Giving a tax break to boost the poultry industry. |
| Trade License (business license) | is a form of regulation, which affects specified businesses and occupations by regulating entry into markets and conduct within markets. |
| Public policy | Public policy is the principled guide to action taken by the administrative executive branches of the state with regard to a class of issues, in a manner consistent with law and institutional customs. |