President George Weah has been making frantic efforts in the State of Israel, marketing Liberia’s rich and diverse investment climate and thus attracting well-meaning investors to the country, a dispatch from Israel has said.
According to the dispatch, since his arrival in Israel, the President has been working around the clock, meeting business executives, moving on field trips and making “hypnotizing speeches on the rich potential of critical sectors such as agriculture, tourism, mining, technology and energy.”
At the Israel-Liberia Forum for Economic Cooperation and Sustainable Development on Tuesday, February 26, 2019, President Weah informed his audience that Liberia is a land of endless opportunities for investment in a diversity of sectors that include agriculture, mining, tourism and hospitality, technology, manufacturing, banking and finance.
He assured his audience that his government had developed and created a framework for attracting, protecting and sustaining foreign direct investments which are beneficial to Liberians and the outside world.
Weah then commended the organizers, the Africa-Israel Chamber of Commerce and the Government of Israel, for engineering such an “all-important investment forum” that was held at the Shimon Peres Center for Peace and Innovation in Tel Aviv, capital of Israel.
President Weah added that a clear and practical roadmap for increased Israeli investments in Liberia will further enhance and cement relations with Israel, which has Liberia’s traditional friend for 61 years.
He also said he was confident that relations with Israel would greatly help in the realization of the Pro-Poor Agenda for Prosperity and Development (PAPD), which is his government’s flagship development program.
Weah assured the Government of the State of Israel and potential investors that his administration had instituted several policy initiatives, which has made doing business in Liberia comfortable, including a harmonized and simplified national business registry.
“As a result of critical reforms at the National Investment Commission NIC), potential investors now have a one-stop-shop and a transparent list of regulatory requirements to establish their businesses in Liberia,” the President told the Forum.
“Our investment incentive [TA1] regime has also been reformed, enabling investors, who qualified under our liberal system, to benefit from significant fiscal reliefs,” he said.
President Weah also said that under the chairmanship of the Minister of Finance and Development Planning, the Liberian government constituted a “Business Climate Improvement Working Group,” which has since been identifying and tackling prohibitive bottlenecks that had been stifling the business and investment environment, leading to a more seamless process of investing in the country.
The work of the group, the President told his hosts, has now caused a reduction in the time of registering a business from 18 days to 5 days.
Speakers at the forum included the Director of Africa-Israel Chamber, who assured President Weah of their interest to invest in Liberia.
The venue, the Peres Center for Peace and Innovation, was founded in 1996 by the late President of Israel, Shimon Peres. It has developed and implemented impactful and meaningful programs, with a focus on promoting a prosperous Israel, nurturing and highlighting Israeli innovation, and paving the way for shared-living between all of Israel’s citizens as well as lasting peace between Israel and its neighbors.
On Wednesday, February 27, 2019, President Weah became the 112th Head of State to plant a tree in Israel. He prayed that the planting of the tree brings life and genuine peace to Israel.