Monrovia — 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 Executive Mansion says the goal is to continue to solidify gains made 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.
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 a 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.
The Ministry of Finance and Development Planning is expected to publish list of affected products and their corresponding rates.
The issuance of Executive Order No. 135 underscores the Liberian government's commitment to safeguard local manufacturers' interests and ensure sustainable growth.
