The Government of Liberia, through the Ministry of Information, Cultural Affairs, and Tourism, has signed a non-binding Memorandum of Understanding with a multimillion-dollar real estate developer in the People's Republic of China for the construction of hotels, housing estates, and amusement parks in Liberia to boost the country's tourism sector.

Accommodation facilities--hotels and housing--play important roles in enhancing tourism in Liberia, a sector that has been a priority in the country's national development plan since January 2024.

The MOU was signed at the China-Liberia Trade Forum organized in Shenzhen City. Liberia's Minister of Information, Cultural Affairs, and Tourism, Jerolinmek Matthew Piah, signed on behalf of the Government of Liberia. In contrast, Mr. Zheng Xudong signed for Shanghai Black Rock Lake Enterprise Development Co., Ltd. (China) signed for the firm.

The firm, Shanghai Black Rock Lake Enterprise Development Co., Ltd. (China), has extensive experience in real estate development, project management, financing, and sustainable construction. It plans to develop projects such as serviced apartments, high-end shopping centers, and luxury residences in Monrovia and its surrounding areas.

According to the MOU, the firm "plans to develop an international community in the southern coastal area of Monrovia, covering approximately 60 acres, including hotels, apartments, residences, and entertainment areas such as amusement parks.

The project is expected to create over 200 jobs and require a total investment of approximately $20 million. "

The firm is committed to developing similar projects in the Monrovia area, further enhancing the city's aesthetics, increasing local employment, and promoting economic growth.

The signing of the MOU is indicative of China's confidence in investment in Liberia, which will enhance and accelerate economic growth.