The Liberian Senate yesterday voted to mandate its Committees on Concession and Investment, Ways, Means, Finance, and Budget to scrutinize an agreement for the establishment of a rubber processing plant in the country.
The Investment Incentive Agreement between the Government of Liberia and Jeety Rubber LLC was submitted through a communication to the Senate by President George Weah for ratification during the 15th Day Sitting of the Special Sitting of the Senate. Based on a motion proffered by Bong County Senator Prince K. Moye, the plenary resolved that the committees carry on the necessary works and report within a week for further actions.
In his Communication, President Weah indicated that under the agreement, the investor shall construct, develop and operate a national rubber processing and production plant for the production of tyres and other natural rubber products, as long and short rubber goods. Additionally, President Weah disclosed that the proposed processing plant will also produce condoms, hand gloves, rain boots, and rubber bands, among others.
Accordingly, he added that the plant, when established, will be expected to process 5,000 tons of rubber per annum; adding that the establishment of the plant for natural rubber processing and production will be the first major processing plant in Liberia and will be located primarily in electoral District 5, Margibi County.
He added that the investment will have significant benefits to the local economy, including foreign currency and also support local small-holder farmers. When ratified, President Weah said the agreement will last for a period of 15 years.
“Honorable President Pro-Tempore, I therefore urge the Liberian Senate to ratify this agreement since it will, among other things, contribute to our economy by adding value to job creations,” President Weah concluded.
The operation value (cost) of the bill, which is sponsored by Montserrado County Senator Saah H. Joseph, was not mentioned in the communication.
Meanwhile, a bill seeking to establish an Act that will grant visas upon arrival to people visiting Liberia from other countries that do not have Liberian Embassies or Consulate Sections, has been submitted to the House of Representatives.
According to a press release from the Press and Public Affairs Bureau of the Honorable House of Representatives, the Tourism Boost Act of 2021 is sponsored by Montserrado County Electoral District #8 Representative Moses Acarous Gray and Maryland County Senator James Biney.
Submitting the bill to Plenary on December 14, during its 16th Day Sitting of the special session, the two lawmakers argued that the Instrument, when passed, will help boost the Tourism Sector of Liberia as well as the Economy of the Country.
Representative Gray and Senator Biney further indicated in their communication that Liberia has fewer Embassies and consulate sections around the world, which makes it extremely difficult for people desirous of visiting Liberia to obtain entry visas as they wish.
The House of Representatives has mandated its Committees on Foreign Affairs, Judiciary, Information, and National Security to thoroughly scrutinize the bill and report to the Plenary upon the return of the Legislature in 2022.