MONROVIA – In a compelling keynote address at the Liberia 2024 Investment Conference on Monday, August 6, 2024, President Joseph N. Boakai showcased the country’s vast investment opportunities and reaffirmed his commitment to fostering a prosperous Liberia. The conference, held at the Ellen Johnson Sirleaf Ministerial Conference in Congo Town, Monrovia, focused on the theme “Winds of Change: Leveraging Private Sector Investment to Spur Growth and Development.”
President Boakai extended a warm welcome to all attendees, expressing hope that their visit would be marked by the same charm and hospitality for which Liberia is renowned. Reflecting on his recent assumption of office, he underscored his commitment to steering the country in a new direction, rooted in the principles of peace, justice, and accountability. His vision involves leveraging Liberia’s abundant natural resources and fertile land to drive national growth and build a robust economy.
The President highlighted Liberia’s significant investment potential, noting that the country is richly endowed with resources across several sectors. He emphasized that the government’s partnership with investors and development partners is already making positive strides towards creating a nation that can be proudly presented on the global stage. This collaboration is aimed at harnessing the full potential of Liberia’s resources to fuel economic development.
In detailing the investment opportunities available, Boakai outlined Liberia’s natural resource wealth, including its mining, agriculture, tourism, energy, and infrastructure sectors. He emphasized the country’s rich terrain and abundant water resources, which are ideal for agricultural ventures. Liberia is attracting investments in sectors such as rubber, iron ore, and oil palm, and its diverse wood species present opportunities for furniture manufacturing.
Boakai also discussed Liberia’s substantial deposits of iron ore, gold, and diamonds, which are being actively explored by international concessionaires. This, he noted, presents numerous mining opportunities. Additionally, the President highlighted the promising prospects in Liberia’s tourism sector, including its extensive coastline with beautiful beaches, ideal for surfing, and its pristine forests, which offer excellent opportunities for ecotourism.
The President further pointed out that Liberia’s youthful population, with nearly 60 percent under the age of 25, provides a dynamic and skilled workforce. The country’s investment-friendly legal framework, which allows for unrestricted repatriation of income, adds to its appeal. The use of both the US dollar and local currency offers additional transactional flexibility for investors.
Addressing historical challenges such as corruption and bureaucratic inefficiencies, President Boakai assured potential investors that his administration is committed to creating a transparent and efficient business environment. He emphasized that his government is waging a determined battle against corruption and has taken concrete steps to ensure that public property is safeguarded.
In conclusion, President Boakai reassured investors of his government’s unwavering support for their ventures, promising that investments in Liberia will be protected and nurtured. He urged attendees to “Think Liberia, Love Liberia, and Build Liberia,” reinforcing his pledge to secure a stable and profitable investment climate as the nation progresses along its path of development.
