Following a successful holding of the first steering committee forum in Monrovia by members of the Liberia Post Accession Plan (LPAP) of the World Trade organization (WTO) and members of the 53th National Legislature, two foreign companies have expressed interests to invest in the country’s economy.
The two companies are Webb Fontaine Group (WFG), set-up in Ivory Coast, with headquarters located in Dubai and Switzerland, and the Inspection and Control Service (ICS) Company of India with a sub office in Nigeria.
According to the chief executive officer of ICS, Mr. Infan Sarfraz, his interest to invest in Liberia is to help enhance revenue collection under the WTO process.
He said if accepted by the government through the LPAP steering committee of the WTO to do business with ICS, there would be no project failures or significant delays because of technical issues in their projects.
“My company provides e-Government solutions designed to facilitate trade and enhance customs and tax revenues,” he said.
“Through its flagship product, MicroClear®, ICS offers governments a platform for multi-agency collaboration that facilitates paperless cross-border trade, speedier customs processing, and more transparency and visibility, while still maintaining appropriate controls and security.”
Mr. Sarfraz, who has investments in West Africa, said he would love to jump-start his investment in Liberia, adding, “We would be glad to be given the green light for commencement in the areas mentioned.”
He said the company also offers logistics-related services in emerging markets, including industrial real estate management, ground handling and airport services, customs modernization, and remote infrastructure and life support.
The company also has two main lines of business. Through its Global Integrated Logistics (GIL) business, ICS works with companies in diverse industries and markets to move, manage, and distribute the goods that underpin global commerce, he added.
For his part, Pushpa Joseph also spoke on his company’s (WFG) activities and its deep interest in investing in Liberia.
Mr. Joseph said if accepted, his company will submit a draft business proposal within three weeks, operate for six months and open a window for market. He said the group has many offices around the world as well as research and development centers in Europe and Asia.
“Webb Fontaine offers advanced e-Government solutions to modernize government agencies and facilitate international trade,” said Joseph.
He said WFG company is particularly specialized in providing integrated platforms for the Single Window for Foreign Trade (GUCE), complete solutions for the automation of commercial procedures as well as the implementation of goods valuation analysis based on the most recent procedures.
Earlier, the Minister of Commerce Axel Addy thanked officials of the two companies for their interests to come to Liberia.
However, Minister Addy informed the steering committee of LPAP of WTO about the two companies in the country and what they can do to impact the process and enhance revenue collection if given the opportunity to serve.