President Joseph Nyuma Boakai. Sr., has signed Executive Order No. 135, extending Executive Order No. 119 which institutes measures to protect and stimulate local manufacturing.
The aim is to continue to solidify the gains and stimulate economic growth in the Liberian economy.
The extension of this Executive Order comes as a recognition of the need to promote sustainable job creation by improving commerce and trade, in line with the goals outlined in the A.R.R.E.S.T. Agenda.
Among other things, The Executive Order seeks to protect local businesses from unfair competition from international brands of locally manufactured goods, thereby fostering a conducive environment for the growth of local industries.
The Executive Order will ensure local industry development and that surcharge will be imposed on the importation of certain goods and/or raw materials that are imported in quantities and manner that may injure or undermine the survival of local manufacturers.
As part of the process, The Ministry of Finance and Development Planning is expected to publish the list of the affected products and their corresponding rates.
Meanwhile, The issuance of Executive Order No. 135 underscores the commitment of the Liberian government to safeguard the interests of local manufacturers and ensure the sustainable growth of the country’s economy.
