By Grace Q. Bryant
The government, through the Liberia Special Economic Zone Authority (LSEZA), has officially launched the Special Agro-Industrial Processing Zone (SAPZ), a US$19 million project funded by the African Development Bank (AfDB).
The initiative aimed to boost agro-industrial development, add value to agricultural products, reduce staple food imports, and transform raw agricultural produce into finished products for local consumption and export.
The initiative marks a significant stride towards reviving Liberia’s industrial landscape, which has been dormant since the civil war.
The SAPZ project launch, held at the Liberia Industrial Free Zone in Monrovia, is a collaborative effort involving international partners like the African Development Bank, USAID, and UNDP.
Their support, particularly the African Development Bank’s funding of $19.4 million, has been instrumental in bringing this vision to life.
The launch of the SAPZ symbolizes a renewed commitment to Liberia’s economic transformation, focusing on sustainable development and self-sufficiency.
The government, in collaboration with its international partners, aims to unlock the full potential of the agricultural sector, paving the way for a brighter and more prosperous future for all Liberians.
This launch, under the theme ‘A Green Future,’ included a domestic trade fair and exhibition of agricultural products.
Launching the program on behalf of the President, Vice President Jeremiah Koung registered President Joseph Boakai’s absence and expressed his gratitude for the support shown by the African Development Bank and its role in the country’s development.
Vice President Koung emphasized the importance of the special economic zones and the substantial financial contributions, including millions of dollars, that have bolstered the country’s electric infrastructure.
He acknowledged the significant strides being made and encouraged continued effort, urging Liberians to remain resilient and committed.
The Vice President aligned the program with the President’s vision, emphasizing its importance in the nation’s economic and industrial strategy.
He mentioned the practical steps being taken, including the development of new infrastructure and the utilization of advanced technology in various sectors.
He also highlighted the production of vegetable oil and other products, stressing the potential for significant market expansion.
Koung also discussed future proposals for improving processing facilities and creating new job opportunities.
He mentioned plans for establishing a margarine and butter production plant, emphasizing the strategic importance of these developments in boosting the local economy.
He urged stakeholders to seize the opportunities presented by the African Development Bank and other international partners to drive economic growth and development.
Vice President Koung reiterated the importance of industrialization and the need to harness the potential of the southeast region and as well called for collaborative efforts to ensure the successful implementation of development projects and to foster a thriving economic environment for Liberia.
LSEZA’s Executive Chairperson, Prince Wreh, emphasized the long-term vision behind the SAPZ.
According to him, the mandate includes promulgating policies and necessary regulations for the effective implementation of the Special Economic Zones Act of 2017.
“This initiative is a testament to our collective commitment to transforming Liberia’s agricultural landscape and driving sustainable economic growth and national development,” said Wreh.
He noted that this initiative is part of a broader agenda to transform Liberia’s agricultural sector, thereby enhancing food security, increasing value addition, and improving the country’s competitiveness in global markets.
“We are tasked with designating geographically defined areas suitable for the development of SCCs in accordance with the land rights policy of Liberia and the existing laws, as well as our strategic national interests,” he added.
Wreh stressed that the government recognizes the challenges investors and businesses face, such as regulatory hurdles and market access issues.
He noted that the SAPZ will play a vital role in mitigating these challenges by providing well-planned, efficiently regulated environments that attract investment, foster innovations, and create jobs.
“This is not just a project; it is a vision for a prosperous and self-sufficient Liberia, where agriculture serves as the pillar of our economy and the cornerstone of our development. It heralds a new era for agro-processes, our farmers, and our economy as a whole. It symbolizes our commitment to transforming Liberia’s agricultural sector, increasing value addition, and enhancing our competitive edge in global markets,” Wreh concluded.
Meanwhile, Andrew Anderson, representing the National Investment Commission (NIC), underscored the government’s commitment to creating a conducive business environment through this project.
He maintained that the SAPZ is expected to attract significant investments in the agro-industrial sector, which could drive economic dynamism, increase foreign direct investment, and create employment opportunities.
“This project embodies our commitment to creating a robust business environment, increasing investment in the agro-industrial sector, and unlocking opportunities for industrial-level investment,” Anderson stated.
The NIC is focused on marketing Liberia as an ideal investment destination and is offering various incentives, including tax breaks and streamlined regulatory processes, to encourage both local and foreign investors.
