IPNEWS: The Executive Chairman of the Liberia Special Economic Zone Authority (LSEZA), has disclosed that the SAPZ project will drive economic growth and create job opportunities for citizens in the country.
Speaking at the launch of the project on Wednesday July 31, 2024, Prince A. Wreh highlighted the importance of continued partnerships in achieving shared goals.
The LSEZA boss emphasized that advancing the President’s vision and acknowledged the invaluable contributions of partners, including the World Bank, USAID, UNDP, and specifically the African Development Bank, which provided $194 million in funding for the establishment of the SAPZ in Buchanan is crucial.
According to him, the launch of the project marks a significant milestone in the Liberia Special Economic Zones Authority’s five-year Strategic Plan, which focuses on designating and regulating special economic zones.
Serving as key Launcher, Liberiaโs Vice President, Jeremiah K. Koung, underscored the importance of moving beyond planning to actionable implementation, urging all stakeholders to intensify their efforts.
He extended his gratitude to the agriculture sector, international organizations, and donor partners, calling for their continued collaboration in driving the successful implementation of the project.
Koung emphasized the critical need for increased investment in the agriculture sector, as he reiterated the government’s strong support for LSEZA and praised their efforts in contributing to Liberia’s economic development.
Earlier, the Country Director of the African Development Bank (AFDB), Benedict Kanu, expressed the bankโs full support for the SAPZ initiative.
He urged the government, development partners, and the private sector to view the agricultural sector as a vital component of the broader agribusiness landscape.
Kanu highlighted the transformative impact that agribusiness can have on the nation’s economy and the well-being of its people.
Speaking on behalf of the private sector, Madam Josephine Francis expressed that agro-processing is pivotal to unlocking Liberia’s economic potential.
She noted that by adding value to agricultural products such as cocoa and coffee, businesses can significantly boost exports, enhance trade competitiveness as well as create job opportunities.
The SAPZ project aims to foster inclusive and sustainable agro-industrial development in Liberia, reducing the country’s dependence on staple food imports.
The SAPZ project will operate on 200 hectares within a 631-hectare Special Economic Zone in Buchanan, Grand Bassa County.
