Ellen Seeks 15-year Tax Holiday for Hotel Investors

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-House Reviews Investment

President Ellen Johnson Sirleaf last Tuesday wrote the House of Representatives to approve a ‘special tax cut agreement’ in favor of a group of Liberian professionals and investors – the Musons Group, Inc. (MGI), which will last for 15 years.

Mr. Joe Gene Mulbah is the President and CEO of Musons Group, Incorporated.

The President’s letter to Speaker J. Emmanuel Nuquay said the law, titled, “The Investment Incentive Agreement between the Government of Liberia and Musons Group, Inc,” has an investment of over US$70 million.

The President said the purpose of the Investment Incentive Agreement (IIA) is to actualize government’s initiative of attracting and encouraging investors to invest in the country.

The agreement was signed by the Ministry of Finance and Development Planning and the National Investment Commission, and attested by the Ministry of Justice on behalf of the Executive Branch of Government.

The investment contract is intended for the construction, development and maintenance of a 210-room state-of-the-art hotel and resort in Marshall, Margibi County and other recreational facilities.

“These recreational facilities when completed will develop the tourism sector, will provide jobs, generate revenues, provide opportunities for Liberians to showcase their talents and improve the livelihood of the citizens,” the President wrote.

“The aim and objective of this Investment Incentive Agreement is to develop and put Liberia’s hotel and tourism sectors on par with other developed nations, encourage the construction of facilities that will attract world leaders and other world dignitaries to consider hosting major conferences and other global activities in Liberia.

“Mr. Speaker, this Investment Incentive Agreement that is in line with Liberia’s relevant laws and public policy appertaining thereto, compliments the development plan of the hotel and resort sector of Liberia thereby attracting tourists.

“As government commits to creating jobs and a sustainable economic environment, the passage into Law of this Investment Incentive Agreement will demonstrate Liberia’s commitment and implementation in that endeavor.”

Following the reading and acceptance of the instrument, plenary agreed to a motion proffered by Hon. Clearance Massaquoi to forward it to the Committees on Investment and Concession, Judiciary, Broadcasting and Tourism, and Ways, Means, Finance and Development Planning to review and advise the body within two weeks.

The MGI is comprised of Liberian professionals with a common objective of developing an organized, committed and focused institution, MUSONS GROUP, Incorporated, which was established on August 5, 1996.
 

6 COMMENTS

  1. Seriously,Ellen Johnson sirleaf is nuts. For the past 12-yr in power Ellen had taken foreign businesses over Liberian businesses nurtured them,and now she has multiple of months to go she’s faking.i wonder how many times Observer had written editorially about powering Liberian businesses but she arrogantly looked the other way. Ellen go with your faked pretense ya we done with you

    • Amen! She is senile…basically put…They should stalk all her proposals. She is a lime duck and good for nothing….If anything, it is about greed and stealing.

    • This is a Liberian owned business, Casey and I think Joe Mulbah, President and CEO needs this incentive to help his firm. Better late than never.

      • Foreign or no foreign it’s completely dumb to give any business tax break for 15- years.What does the country get in return? This is just another way for Liberians to front for foreign businesses. It won’t be a suprise if the legislature approves this silly idea . After almost 12-years, the lives of ordinary Liberians remain the same to that of pre war condition despites billions of dollars pumped in the economy under the Sirleaf/Boika Administration. If our legislators were serious people they won’t listen to Ellen proposal.

  2. Who is the CEO and what ties does he or she have with the circle of power. Why this one group and not the other suffering hotels. Does Amin Moddad get the same tax break? Does every other B and B get the same tax break? 15 years and for what. What nonsense it this. Is this the new Liberianization policy, give tax breaks to the Liberians she knows and nobody else. Now will be the test for Boakai to veto this or fight against it . But we will see it passed just like his administration ill be the continuation of the same old, same old.

    • Don’t expect anything different on this issue from Boika if he were to win the presidency. The guy equally lacks vision as his mentor Ellen. Sadly, the rest of the people running for the presidency aren’t even better.

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