On Wednesday, August 14, 2024, President Joseph Nyuma Boakai signed Executive Order No. 135, extending and enhancing Executive Order No. 119, which implements measures designed to protect and stimulate local manufacturing in Liberia. This move, detailed in a presidential press release, underscores the government’s commitment to solidifying economic gains and fostering sustainable growth within the Liberian economy.
Executive Order No. 135 aims to further advance the goals of the A.R.R.E.S.T. Agenda, which emphasizes Accountability, Rule of law, Reforms, Economic stabilization, Security, and Transparency. By extending the previous order, the President acknowledges the importance of promoting local industries and protecting them from unfair competition posed by international brands.
The new Executive Order will enforce measures to shield local businesses from harmful competition, particularly focusing on imported goods and raw materials that could negatively impact local manufacturers. Specifically, it will impose surcharges on the importation of certain products and materials in quantities or manners that could undermine the viability of domestic industries. This policy is designed to create a more favorable environment for local manufacturing and encourage job creation through improved commerce and trade.
The Ministry of Finance and Development Planning will be responsible for publishing the list of affected products and their corresponding surcharge rates, providing transparency and clarity for businesses and consumers alike.
By signing Executive Order No. 135, President Boakai reiterates his administration’s dedication to enhancing the local manufacturing sector and ensuring its contribution to Liberia’s economic stability and growth. The extension of this order reflects a strategic effort to nurture local industries, promote economic resilience, and support job creation in line with the overarching objectives of the A.R.R.E.S.T. Agenda.
