President Joseph Nyuma Boakai on Tuesday August 6, 2024 officially opened the 2024 National Investment conference in Liberia.
The conference which brought together investors and partners from diverse backgrounds of the society is organized by the National Investment Commission.
Speaking at the opening ceremony President Joseph Nyuma Boakai welcomed the atmosphere of the forum and reassured potential investors that their investment will be secure, stable, and profitable on Liberian soil.
“Your convergence at this investment conference today, under the theme, “Winds of Change: Leveraging Private Sector Investment to Spur Growth and Development”, is particularly welcome considering the path we have embarked upon as a nation”, he pointed out.
“These are the reasons why, in forums such as this, we consistently carry good news about our resources, our suitability, and our determination to embark on a new path in nation-building”, he added.
He declared and disclosed that investment opportunities are not only substantial and impressive, but also promise substantial rewards as he continue to emphasize that Liberia is richly endowed with natural resources and these resources span a wide range of sectors worthy of investment, including mining, agriculture, tourism, energy, infrastructure, and more.
President Boakai making specific references indicated that in agriculture, Liberia has rich terrain and abundant water adding that several investors are involved in such sector, including those focused on rubber, iron ore, and oil palm.
With over 42 percent of the rainforest in West Africa, Liberia offers tremendous opportunities in the agriculture sector. Even for investors interested in furniture manufacturing, Liberia is an excellent destination, as it is blessed with an abundance of diverse and rare species of wood, he further informed the gathering.
“As a former Minister of Agriculture myself, I can say with no equivocation that my country is ideal for varied agricultural products such as rice, cassava, and corn, among others. These products can be easily exported to neighboring countries and beyond and moreover, Liberia has rich deposits of iron ore, gold, and diamonds, among other rare minerals and Concessionaires from Asia and Europe are currently operating in the country, creating numerous mining opportunities”, he noted.
The Liberian leader also told the gathering that Liberia’s tourism sector is also very promising with over 4,300 miles of coastline, the country offers beautiful beaches, perfect for activities such as surfing. The pristine forests and abundant wildlife make Liberia an ideal destination for ecotourism. Additionally, the coastline provides great opportunities for fishing and aquaculture. These are just a few of the opportunities in Liberia, he pointed out.
With a youthful population, where nearly 60 percent are below 25 years of age, he stated that there is a readily available, skilled workforce.
At the same time he said Liberia’s investment-friendly laws allow investors to repatriate their income without restrictions. Furthermore, the country uses both the US dollar and the local currency, providing flexibility for transactions, he added.
Reflecting further, he said in years past, aside from the war, corruption, and bureaucratic red tape rose to stifle investment and rob government in Liberia.
However, he told the gathering that his Government has chosen to lead by example and in line with the dictates of the life we have lived for ourselves, with no tolerance for theft and graft of public property, we have waged a war on these vices.
He then used the ocassion to assure investors that every cent they undertake to invest in Liberia will be fully protected.
The Chief Executive said six months and seven days ago, He humbly accepted the divine calling to lead Liberia in a peaceful transfer of power indicating that his main goal in taking on leadership was to steer the country in a new direction driven by a fresh mindset.
According to him, his commitment to the building of a nation based on the principles of peace, justice, and accountability for our actions remains unchanged.
Emphasizing that Liberia is blessed with abundant natural resources and fertile soil as such, It is not unreasonable for the Liberian people to demand for their resources to be used to build a Country that the people can be proud of.
He said through partnerships with investors and development partners, Liberia is already on the right path to building a nation that the nation and its people can be proud of internationally.
