IPNews-Monrovia: Liberia’s 172nd Independence Day celebration has gotten to a real start with President George Manneh Weah officially dedicating Liberia’s first steel factory.
The Liberian leader l described the opening of the steel factory as a major milestone in the history of Liberia economic transformation since the end of the Ebola crisis.
The Steel factory in Liberia first the operationalization steel factory that is expected to significantly contribute to economic growth through value addition and job creation.
The production plant, owned and operated by Indian firm Sethi Ferro Fabrik, Inc., is located in Gardersville, outside Monrovia and was officially dedicated on Tuesday by President George Weah.
It has begun manufacturing “best quality” steel rods from light and heavy scrap metals, and the company anticipates venturing into adding value to Liberia’s iron ore in the near future, according to Chief Executive Officer Lucky Sethi.
Before he cut the ribbon to the gigantic factory, President Weah said for too long Liberia has imported essential commodities, including steel rods, and that he was proud now that there will be an important “Made in Liberia” product.
In the meantime, the President stressed that while the government is working harder to empower local businesses, it was equally pivotal for all citizens to recognize the benefit of opening up the economy to powerful foreign firms if the economy should be resuscitated from the shocks it continues to experience.
More particularly, the President let it be known that huge investments in the country would result in great inflow foreign exchange that will create room for stability.
“So, my fellow Liberians, those people will come here and create jobs for you; they will keep their wealth in local banks, then you will get more jobs and there will be no inflation,” said Pres. Weah.
He added: “Liberia produces rubber, but we do not have a shoe factory, how can that be? Now, we have a scrap, we have iron ore, but we are proud to say that we have a steel factory. This could be the first, there could be the second, and then the third – and that’s the right way to go! We need a ‘Made in Liberia!’”
The factory currently has in its employ over 300 persons, mostly Liberians, and expects to create an additional 500 jobs in all.
President Weah encouraged Liberians employed there to display a high level of diligence, honesty, and commitment to duty.
Executives of Sethi Ferro Fabrik say as the operation progresses at the plant, they anticipate exporting steel rods and other steel products to countries in the ECOWAS region while significantly making it cheaper on the Liberian market.
Meanwhile, Indian Ambassador accredited to Liberia, Y.K Sailas Thangal, indicated that installation of the factory came as a result of the “visionary leadership being provided for Liberia by President George Weah by moving the country towards a prosperous and inclusive society.”
With stronger bilateral cooperation between Liberia and India from which the steel plant spurred, Ambassador Thangal said the investment was the beginning of a journey for self-sufficiency of the Liberian economy.
The Indian envoy added that the Liberian government’s Pro-poor Agenda for Prosperity and Development framework has been cementing international cooperation that will benefit not only Liberia but also all the cooperating partners.
In a related development, President George Weah last evening cut robbins to the Chinese built multimillion dollars ministerial complex in oldest congo town.
The Liberian President hailed his counterpart, the President of China, and the people of the People’s Republic of China for its continued support to Liberia national development recovery drive.
It may be recorded, on May 8, 2019, the Government of the People’s Republic of China (PRC) pledged its continued support to the Liberian Government and its five-year strategic plan, the Pro-Poor Agenda for Prosperity and Development (PAPD).
As expressed by President Xi Jinping, Foreign Minister Wang Yi said China is committed to the concept of sincerity, real results and the value of friendship and shared interests, all geared towards win-win cooperation. He reiterated that China’s cooperation with Africa is sincere; noting that they have always followed the principle of non-interference in the internal affairs of other countries, engaged Africa under the framework of South-South cooperation.
According to a dispatch from Liberia’s Embassy near Beijing, China re-echoed its commitment when Foreign Minister Gbehzohngar Milton Findley, held bilateral discussions with his Chinese counterpart, State Councilor and Foreign Minister Wang Yi, on the fringes of the Coordinators’ Meeting on the Implementation of the Follow-up Actions of the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in Beijing recently.
With this commitment to further strengthen cooperation, the two countries signed an agreement in which China provided a “gratuitous assistance” of two hundred million Chinese Yuan (¥200,000,000), approximately US$29.5 million to Liberia as the first tranche for the implementation of projects agreed to during the bilateral meeting between Chinese President Xi Jinping and President George Weah during the latter’s visit to Beijing for the FOCAC Summit on September 2018.
This first tranche has been transferred into a joint account at China Development Bank to be administered by both governments for the implementation of these projects including two overhead bridges to ease vehicular traffic around the new ministerial complex and the SKD Boulevard, respectively; the provision of food aid to be monetized and used for development purposes; among others.
The Chinese Foreign Minister and State Councilor promised to increase cooperation and to solidify the exceptional friendly ties existing between China and Liberia.
Mr Wang Yi further pledged the amount of two million Chinese Yuan (¥2 million), approximately US$300,000, – “In-Kind” – to the country’s Foreign Ministry to enhance its productivity and to build capacity.
Responding, Foreign Minister Findley thanked State Councilor Wang Yi on behalf of President Weah and the Liberian Government for China’s continued support to the country’s development agenda. He re-emphasized Liberia’s adherence to its “One-China” policy, which has deepened the relations between both countries.
He also thanked the Chinese Foreign Minister, specifically highlighting his country’s enormous assistance in the fight against Ebola that ravaged the three Mano River Union countries – Liberia, Sierra Leone and Guinea; as well as the important role played in the post-Ebola reconstruction efforts.
Minister Findley emphasized Liberia’s preparedness to work with China in promoting the objectives of FOCAC. He expressed thanks to China’s deep interest in building strong ties with Africa, particularly Liberia; noting that in April, both countries concluded a memorandum of understanding at which time Liberia formally joined the Belt and Road Initiative (BRI). Minister of State Nathaniel McGill signed the MOU on behalf of Government when he attended the Second Belt and Road Forum for International Cooperation held in Beijing.
The Coordinators’ Meeting, which brought together ministerial officials from 53 African countries and their Chinese counterparts, discussed the implementation of the 2018 FOCAC agenda on trade, security and development.
At last September’s FOCAC Summit, Chinese President Xi Jinping committed US$60 billion in a mix of grants, loans and special funds to African countries. He also encouraged Chinese companies to make at least US$10 billion investment in Africa through 2021.
In another development, the Government of the People’s Republic of China (PRC) has officially turned over the China-aided Ministerial Complex to the Government of Liberia. Meanwhile, China shall be responsible for the project’s quality warranty for the next 24 months.
Assistant Minister for International Cooperation, Sherdrick Jackson, signed on behalf of the Liberian Government; while the Deputy Director-General of the Agency for International Economic Cooperation at the Ministry of Commerce, Zeng Huacheng, signed on behalf of the Chinese Government. Minister Findley and Ambassador Dudley McKinley Thomas observed the ceremony.
The construction of a ministerial complex as a China-aided project to Liberia first commenced with an Exchange of Letters signed between both governments on September 11, 2012. Another supplemental letter was signed on October 9, 2014. The China Jiangsu Provisional Construction Company, Limited, was commissioned to implement the project, which commenced on October 25, 2016, and was completed on April 20, 2019.
After a joint acceptance inspection, both governments agreed that the project has met the requirement for acceptance and handover; with the Chinese fully fulfilling its obligations as stipulated in another Exchange of Letters and a Project Implementation Agreement signed with the Liberian Government on March 8, 2016.
Following a successful Coordinators’ Meeting in Beijing, Minister Findley joined his Chinese counterpart and other African colleagues where he attended the first China – Africa Economic and Trade Expo held in Changsha, Hunan Province.
The expo, launched under the framework of FOCAC, was attended by more than 1,500 foreign guests, over 5,000 Chinese as well as over 3,500 exhibitors from 39 African countries. The Expo established a new mechanism for economic and trade cooperation between China and African countries.
