By Grace Q. Bryant
The Liberia Special Economic Zones Authority (LSEZA) held its inaugural stakeholder engagement at the Bella Casa Hotel in Monrovia. Themed “Yesterday, Today & Tomorrow,” the event reflected on the establishment of the Monrovia Industrial Free Zone in 1975; its current status and vision for tomorrow.
On behalf of the Liberia Special Economic Zone Authority, Joyce Kenkpen spoke to a cross section of stakeholders that included government leaders, development partners and representatives from the private sector presented a historical overview of the Free Zone and Industrial Park, citing President William R. Tolbert’s 1975 speech on economic diversification, foreign direct investment attraction, infrastructure development, and regional trade integration.
She emphasized Tolbert’s vision of positioning Liberia as a strategic hub for commerce and trade within the Economic Community of West African States (ECOWAS).
In 2017, the Liberian government enacted a law to establish the Liberia Special Economic Zone Authority, aimed at regulating and promoting investment activities within Special Economic Zones (SEZs).
Current developments under LSEZA include the Buchanan SEZ, Montserrado Fishing Pier, Free Zone of Monrovia, Roberts International Airport SEZ, and the Monrovia Industrial Park.
Stakeholders engaged in discussions on capacity building, farmers’ integration, and public-private partnerships. Madam Kenkpen highlighted ongoing investments in capacity building, road networks, substations, and farmers’ support, stressing the importance of the private sector’s role in the special economic zones, Kenkpen said “we provide the incentives; the private sector runs the zones.”
The first-ever appointed Executive Chairperson of LSEZA, Prince A. Wreh, outlined the Authority’s vision to transform Liberia into a global trade engine, fostering economic growth and industrialization.
He acknowledged the support of various international partners, including USAID, the African Development Bank, the World Bank, and the IFC.
He also recognized collaboration with several government agencies, which were instrumental in establishing the LSEZA.
President Joseph Boakai, appointed Wreh in April 2024, operationalizing the Authority.
The LSEZA is tasked with designating special zones for economic activities to promote manufacturing and provide employment opportunities.
The event was attended by a cross-section of officials, development partners and diplomatic community who collectively encouraged and applauded the Authority to continue these types of engagements towards an aligned vision for Liberia’s growth and development.
Speaking on behalf of the European Union, the EU representative highlighted Liberia’s potential as a peaceful and attractive investment destination, aligning with the EU’s objectives of economic governance, job creation, and sustainable growth.
The Project Manager, Andrew Anderson, discussed the strategic support from development partners, including the African Development Bank and USAID and mentioned the ongoing organizational structure development and the mixed-use, multi-industry assessment of the Free Zone in 2016.
The stakeholder forum aimed to raise awareness, increase visibility of the newly formed Authority, and foster collaboration between key stakeholders.
