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Liberia is conducive for investment-Prez. Sirleaf asserts

By Patrick Flomo
President Ellen Johnson-Sirleaf
President Ellen Johnson-Sirleaf

(mylbsonlin.com/Liberia)-President Ellen Johnson-Sirleaf has described Liberia’s environment as favorable for business.

President Johnson-Sirleaf said: “Liberia has made tremendous progress in attracting investment for the development of its natural and other resources.

According to an Executive Mansion release, President Johnson-Sirleaf made the statement Wednesday, September 11, 2013 when she delivered the Keynote Address at a Business Luncheon Meeting in that Asian state.

The meeting was hosted by the Federation of Indian Chambers of Commerce and Industry, the Confederation of Indian Industry and Associated Chambers of Commerce and Industry at the Oberoi.

At the luncheon, the Liberian President informed the Indian business leaders that Indians form the second largest expatriate community in Liberia.

The President named the two multi-billion-dollar investments of Arcelor Mittal and Sesa Goa in Liberia’s mining sector as evidenced by the openness of the country’s economy.

President Johnson-Sirleaf also highlighted the younger and more adventurous corps of Indian businessmen dominating the building material and pharmaceutical sectors.

She emphasized: “Liberia’s Vision 2030 Development Strategy envisages making the country a middle-income country by then.”

The Liberian Leader, however, noted: “The first slice of that vision (the Agenda for Transformation) has identified the priority areas of infrastructure, power, ports and roads.”

“The Agenda for Transformation is intended to put the country on a sustained development path,” she added.

The President described Liberia’s potential as one that is rich in natural resources, though agriculture remains the country’s key area of strength.

The President noted: “Rubber is being the traditional export of Liberia, and now the country is becoming a major oil palm producer, with recent investments from two Asian countries, including Malaysia and Indonesia.”

“Coffee and cocoa, too, are traditional endowments.”

President Johnson-Sirleaf also informed the Indian business leaders that with forest resources accounting for 43% of the biodiversity of West Africa, there is great potential for the production of wood and wood-related products.

She, however, warned that the country no longer seek timber exporting agreements, rather investment that adds value to the exportation of wood products, including furniture.

 


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