President Joseph N. Boakai has reiterated his government's commitment to providing a secure and stable environment for investors in Liberia, while also highlighting that his administration would ensure profitable business ventures in the country.
Speaking on Monday, August 5, at the opening of the Liberia 2024 Investment Conference in Monrovia, President Boakai detailed his ambitious vision to transform Liberia into a hub of opportunity through strategic investments in key sectors such as agriculture, infrastructure, education, and tourism.
"It is in light of all these facts that I stand before you today, in the welcoming atmosphere of this forum, to reassure you that your investment will be secure, stable, and profitable on Liberian soil," President Boakai stated.
He emphasized the essential role of private sector partnerships in driving innovation and creating much-needed jobs, highlighting his administration's dedication to accountability and transparency.
The week-long conference, organized by NOVA Africa Ventures and the National Investment Commission, aims to showcase Liberia's vast investment potential and attract international business leaders.
The event, themed "Winds of Change: Leveraging Private Sector Investment to Spur Growth and Development," underscores the country's commitment to economic reform and development.
President Boakai, reflecting on his leadership journey since taking office six months ago, underscored his commitment to building a nation grounded in peace, justice, and accountability.
"Liberia is blessed with abundant natural resources and fertile soil. It is not unreasonable for the Liberian people to demand that our resources be used to build a country in which we can all be proud," he remarked. He outlined the numerous investment opportunities available in Liberia, spanning sectors such as mining, agriculture, tourism, energy, and infrastructure.
President Boakai highlighted Liberia's rich terrain and water resources, making it ideal for agricultural ventures, including rubber, iron ore, oil palm, and diverse wood species for furniture manufacturing.
The former Minister of Agriculture confidently advocated for Liberia's potential to produce and export various agricultural products like rice, cassava, and corn. The President also pointed to the country's rich deposits of iron ore, gold, diamonds, and other rare minerals, with ongoing operations by concessionaires from Asia and Europe creating numerous mining opportunities.
He noted the promising tourism sector, with over 4,300 miles of coastline, beautiful beaches, pristine forests, and abundant wildlife, making Liberia an ideal destination for ecotourism, fishing, and aquaculture.
With a youthful population, nearly 60 percent below 25 years of age, President Boakai emphasized the availability of a skilled workforce and investment-friendly laws, allowing unrestricted repatriation of income.
He assured investors of the government's zero-tolerance policy towards corruption and bureaucratic red tape, vowing to protect every cent invested in Liberia.
"With a focus on economic growth, sustainable development, and large-scale investment, Liberia is poised for transformation under President Boakai's leadership," he noted while inviting investors to contribute to Liberia's economic growth and development.
Earlier in his welcome address, Jeff B. Blibo, National Investment Chairman, emphasized the event is meant to ensure the government and inter-ministerial commitment to forging strong partnerships with the private sector for the benefit of Liberia.
MacDella Cooper, Senior Political Advisor to President Boakai, also remarked on Liberia's wealth in natural resources and strategic location, highlighting the nation's potential as an emerging trade and investment hub.
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"We want to open the nation up to remove hindrances to doing business, making Liberia a preferred investment destination. His Excellency has a plan to revitalize the economy by leveraging foreign, domestic, and Liberian Diaspora investments," Cooper noted.
Amb. David W. Anderson, President and CEO of NOVA Africa Ventures, expressed his deep commitment to showcasing Liberia's abundant opportunities and unique potential. "Our nation is on the cusp of transformative growth," Anderson declared, reflecting the optimistic outlook of the conference.
Meanwhile, the Liberia 2024 Investment Conference is expected to pave the way for substantial international investments, fostering economic growth and development in the country.
