Calls for Urgent Needs for Job Creation When He Delivered Remarks at Liberia 2024 Investment Conference
President Joseph Nyuma Boakai has reassured investors of his administration’s commitment to protecting their businesses.
“Our government is committed to fostering robust collaborations with the private sector for rapid economic development. We will implement policies to create an enabling business environment and engage with partners committed to sustainable development”, President Boakai revealed.
Emphasizing Liberia’s rich natural resources, President Boakai outlined a vision to transform the country into a hub of opportunity through strategic investments in agriculture, roads, education, infrastructure, and tourism.
He then talked about the crucial role of potential partners in driving innovation, creating jobs, and contributing to prosperity.
“We are at a pivotal moment in Liberia’s pursuit of economic growth and development, large-scale investment, and innovative technologies that are crucial to spur sustainable growth. Creating conditions to improve the life of every Liberian is a top priority for my administration”, President Boakai stated.
The Liberian Chief Executive mentioned the importance of partnerships with domestic and international private sectors while extending an invitation to partners and Liberians in the diaspora to invest in Liberia.
President Boakai promised to lead by example and ensure a transformational era, with accountability and transparency at the top.
“We are dedicated to protecting the interests of investors and providing a secure environment for businesses to thrive,” he affirmed.
President Boakai made the remarks at the start of the Liberia 2024 Investment Conference held at the EJS Ministerial Complex in Congo Town – Monrovia on Tuesday, August 6, 2024.
The week-long conference, which is being organized by NOVA Africa Ventures and the National Investment Commission (NIC), showcased Liberia’s investment potential.
The conference also brought together investors including potential international business tycoons, government officials and others.
SEE FULL SPEECH BY PRESIDENT BOAKAI:
Keynote Address by
His Excellency Joseph N. Boakai, Sr.
President of the Republic of Liberia
at the Liberia 2024 Investment Conference
EJS Ministerial Conference
Oldest Congo Town, Monrovia, Liberia
Monday, August 6, 2024
Our Esteemed Guests;
Mr. Chairman and Officials of the National Investment Commission (NIC)
Hardworking Planners and Organizers of this Conference;
Our Dependable Partners;
Business men and women;
Distinguished Ladies and Gentlemen:
Greetings!
Let me start off by welcoming all of you, both from within and without, to our friendly shores with the hope that you are experiencing the usual charming embrace and infectious hospitality that this land and its people have come to be known for.
Your convergence at this investment conference today, under the theme, “Winds of Change: Leveraging Private Sector Investment to Spur Growth and Development”, is particularly welcome considering the path we have embarked upon as a nation.
Just six months and seven days ago, I humbly accepted the divine calling to lead our nation in a peaceful transfer of power. Our main goal in taking on leadership was to steer the country in a new direction driven by a fresh mindset.
My commitment has been and continues to be the building of a nation based on the principles of peace, justice, and accountability for our actions. 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 of which we can all be proud.
Through partnerships with our investors and development partners, we are already on the right path to building a nation that we can be proud of internationally. These are the reasons why, in forums such as this, we consistently carry good news about our resources, our suitability, and our determination to embark on a new path in nation-building.
Today, we can proudly declare that investment opportunities are not only substantial and impressive, but also promise substantial rewards. We continue to emphasize that Liberia is richly endowed with natural resources. These resources span a wide range of sectors worthy of investment, including mining, agriculture, tourism, energy, infrastructure, and more.
In agriculture, Liberia has rich terrain and abundant water. Several investors are involved in this sector, including those focused on rubber, iron ore, and oil palm. With over 42 percent of the rainforest in West Africa, Liberia offers tremendous opportunities in the agriculture sector. Even for investors interested in furniture manufacturing, Liberia is an excellent destination, as it is blessed with an abundance of diverse and rare species of wood.
As a former Minister of Agriculture myself, I can say with no equivocation that my country is ideal for varied agricultural products such as rice, cassava, and corn, among others. These products can be easily exported to neighboring countries and beyond.
Liberia has rich deposits of iron ore, gold, and diamonds, among other rare minerals. Concessionaires from Asia and Europe are currently operating in the country, creating numerous mining opportunities.
Liberia’s tourism sector is also very promising. With over 4,300 miles of coastline, the country offers beautiful beaches, perfect for activities such as surfing. The pristine forests and abundant wildlife make Liberia an ideal destination for ecotourism. Additionally, the coastline provides great opportunities for fishing and aquaculture. These are just a few of the opportunities in Liberia.
With a youthful population, where nearly 60 percent are below 25 years of age, there is a readily available, skilled workforce. The country’s investment-friendly laws allow investors to repatriate their income without restrictions. Furthermore, the country uses both the US dollar and the local currency, providing flexibility for transactions.
In years past, aside from the war, corruption, and bureaucratic red tape rose to stifle investment and rob government in my country. My Government has chosen to lead by example. And in line with the dictates of the life we have lived for ourselves, with no tolerance for theft and graft of public property, we have waged a war on these vices. Accordingly, I assure you all that every cent you undertake to invest in Liberia will be fully protected.
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.
Thank you so very kindly for the choice to join us to THINK LIBERIA, LOVE LIBERIA and BUILD LIBERIA.
Again, I extend a hearty welcome to you all, with best wishes for a pleasant and rewarding stay.
God bless us all and save our respective states.
