Liberia’s inaugural Investment Conference, held in Accra, Ghana, marked a significant step in the nation’s pursuit of sustainable economic growth. Themed “Unlocking Liberia’s Investment Potential for Sustainable Economic Growth,” the conference served as a platform to showcase the country’s commitment to attracting regional and international investment. Foreign Minister Sara Beysolow Nyanti delivered a compelling keynote address, emphasizing Liberia’s strategic reforms, abundant natural resources, and dedication to fostering a business-friendly environment. She outlined the government’s ARREST agenda, focusing on Agriculture, Roads and infrastructure, the Rule of law, Education, Health and sanitation, and Tourism, demonstrating a comprehensive approach to development. Minister Nyanti further advocated for a shift in the focus of economic diplomacy in Africa, urging leaders to prioritize creating enabling environments for business and facilitating trade and investment. This conference, following a previous one in China and preceding a planned event in Belgium, exemplifies Liberia’s proactive approach to engaging the international investment community.
The conference highlighted several key sectors poised for investment. Agriculture, with Liberia’s vast arable land and favorable climate, presents opportunities in rice, cocoa, oil palm, cassava, and fisheries, contributing significantly to food security and rural development. The emphasis on agricultural investment reflects the government’s understanding of its importance for both economic growth and social stability. Former President Ellen Johnson Sirleaf, speaking at the conference, called for strengthened collaboration between Ghana and Liberia in trade and investment, leveraging the African Continental Free Trade Area (AfCFTA) as a driving mechanism. She underscored the need for enhanced regional cooperation, emphasizing the interconnectedness of African nations and the importance of mutual investment for shared prosperity. This call for collaboration highlights the potential for synergistic growth within the region.
The conference showcased the potential for bilateral cooperation between Liberia and Ghana, chosen strategically as the host nation due to its status as a regional financial hub. This decision aimed to attract Ghanaian investors and bolster economic ties between the two nations. Liberian Ambassador to Ghana, Musu Jatu Rhule, urged international organizations to capitalize on Liberia’s political and economic stability, emphasizing the country’s investor-friendly environment and abundant natural resources, including gold and diamonds. She highlighted Liberia’s progress in infrastructure development, digital transformation, energy, agriculture, and value-added manufacturing, showcasing a diversified and modernizing economy ready to welcome foreign investment. The presence of several Ghanaian banks operating in Liberia further demonstrates the existing financial linkages and potential for increased economic integration.
The Liberian government’s commitment to facilitating investment was further reinforced by the presence of a tax expert from the Liberia Revenue Authority, Paul Hinneh, who outlined the country’s investor-friendly tax regime, including reduced tax rates and long-term contract guarantees designed to incentivize foreign businesses. This emphasis on tax incentives underscores the government’s proactive approach to attracting and retaining foreign investment. The assurance of contract stability, irrespective of political changes or legal reforms, provides a critical safeguard for investors, fostering confidence and long-term commitment. The conference effectively showcased Liberia’s dedication to creating a predictable and secure investment environment.
The two-day event comprised high-level panel discussions, sector-specific presentations, and a Liberia-Ghana Trade & Culture Expo, providing a comprehensive overview of Liberia’s investment landscape and cultural richness. The structured approach to the conference, encompassing diverse formats and topics, allowed for in-depth exploration of investment opportunities and facilitated networking among participants. The inclusion of a cultural expo further enriched the experience, showcasing the vibrant culture of Liberia and fostering a deeper understanding of the country’s unique identity. This multifaceted approach ensured a holistic and engaging experience for attendees.
The Accra Investment Conference served as a pivotal moment for Liberia, signaling its intent to actively pursue foreign investment and drive sustainable economic growth. The government’s commitment to creating a conducive business environment, coupled with the country’s abundant resources and strategic reforms, positions Liberia as an attractive destination for investors seeking opportunities in Africa. The emphasis on regional cooperation, particularly with Ghana, further strengthens Liberia’s potential for economic development and integration into the broader African market. The conference’s success laid a strong foundation for future investment partnerships and marked a significant step towards unlocking Liberia’s economic potential.
