The National Investment Commission (NIC) yesterday released the third edition of its official investor’s guide, titled ‘Invest Liberia.’ Invest Liberia was done along with the agriculture sector profiles covering priority sectors and its newly constructed website, www.investliberia.gov.lr.
Invest Liberia provides basic, but thorough information on all that potential investors need to know about investment opportunity in the country, how they can optimize the Liberian government’s investment incentive program, as well as legislations governing the investment landscape.
The agriculture sector profiles contain much more detailed sector-specific information on sub-sectors demonstrating the greatest potential for investment, while the website’s usability has been enhanced for ease of navigation and user friendliness.
These investment promotion tools, according to NIC chairperson, Etmonia David Tarpeh, will add to myriads of strategies that government’s has initiated to encourage investment in other largely untapped areas of the economy.
As a consequence of the decline in the price of commodities (rubber and iron ore), Madam Tarpeh said the government under the leadership of President Ellen Johnson Sirleaf is now looking to towards a resilient and sustainable economy with the new approach.
In a launching, Madam Tarpeh said: “We want to increase Liberia’s chance of being considered when investors are selecting sites for investment in Sub-Saharan Africa.
“Liberia has largely untapped investment potentials and opportunities, and our website is designed to showcase our many investment possibilities.”
According to her, the country provides one of the best opportunities for investments in Africa today, therefore, “we are laying all the necessary groundwork in terms of its corporate tax regime, ease of setting up a business and the repatriation of capital to attract investors.”
However, Madam Tarpeh said, much still needs to be done to improve the investment climate.
Also speaking, Axel M. Addy, Minister of Commerce and Industry, expressed gratitude to the NIC on achievement of this milestone, and that the initiative supports the Liberia Agriculture Transformation Agenda.
Pa-Lamin Beiya, Liberia Country Director of United Nations Development Program, said: “The quality of the results produced from the resources committed in support of the initiative is noteworthy.”
Mr. Beiya then called on the government to ease the laws in order for investors to give preference to the country and regularly update the website.
The Director of Investment Promotion of NIC, Quinton A. Tunis, spoke of the rich content of the Investor’s Guide, the agriculture sector profile, new website and encouraged would-be investors, students and the general public to visit the newly reconstructed website for resource materials.
He highlighted the government’s economic diversification drive and accentuated eight value addition potential areas considered for promotion which include rubber, cocoa, oil palm, horticulture, cassava, rice, marine fisheries and aquaculture.
Mr. Tunis reminded the gathering that the National Investment Commission’s current mandate is to promote Liberia’s many investment opportunities, attract and support the growth of value-adding foreign direct investments, and advocate for and strengthen the domestic private sector.
Meanwhile, over 50 participants attended the ceremony, including representatives from public institutions, private sector actors, development partners and the media. However, Agriculture Minister Moses Zinnah and the Minister of Finance Boima Kamara, who were expected to participate in the program, were not present.