Concord Times (Freetown)
Pel Koroma
20 August 2008
Freetown — Chief executive officer of the Sierra Leone investment and export promotion agency (SLIEPA) has disclosed at a one-day induction course for staff members that his institution would soon have a US $ 5 million bank supported by UNIDO.
Adeyemie Rodney Sandy said the gesture was to boost domestic investment forum which is key to public and private sector partnership.
"SLIEPA will provide personalized and high value added services including information to investors and exporters. It aimed at diversifying and increasing exports by further developing proven investment opportunities while maximizing their impact in the local economy," he said.
He stated that the establishment was created by an act of parliament in May 2007 to replace the Sierra Leone Export and Development Corporation (SLEDIC). This is also to contribute to the economic development through investment promotion and export development in both traditional and non-traditional produce.
"For investment promotion, SLIEPA will serve as a one-stop shop for investment information, developing relationship between public and private sectors, promoting investment opportunities in Sierra Leone. We will also identify potential investors and encourage them to invest in agriculture," he said , adding that in the export development, SLIEPA would encourage and promote agriculture, facilitate export diversification, providing information about potential market for export, serving as a bridge between exporters and government departments.
The CEO added that: "SLIEPA's strategic sectors in investment promotion will include agriculture, marine resources, mining, tourism and transportation. In export development sector, we will embark on agriculture and marine resources and fisheries." Chairman board of directors Gladys Strasser-King said the agency seeks to attract investment from credible investors, nationally and internationally by marketing opportunities in the country and ensuring an ethical investment climate free of bureaucratic bottlenecks and constraints.
"Until recently, investment and business start-up were hampered by a myriad of bureaucratic huddles, which often frustrate genuine investors. To ease these difficulties government recently promulgated the Sierra Leone Investment and Export Protection Agency Act in 2007, the Business Registration Act and the General Law (Business Start-Up) Act," she said.
Strasser-King paid tribute the DfID through the foreign investment advisory services and the international trade centre for intervening at an appreciable level and complimenting government's funding in ensuring that the agency commences its activities on a sound footing.
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