By Precious D. Freeman
The Liberia Special Economic Zone Authority (LSEZA) and the United States Agency for International Development (USAID) recently convened a two-day stakeholder engagement workshop designed to strengthen partnerships and promote investment in Liberia.
The workshop, held at USAID’s DELTA office in Monrovia, focused on fostering domestic and foreign direct investment as part of broader efforts to drive economic growth and expand business opportunities in the country.
During the workshop, held on November 13, 2024, LSEZA Executive Chairman Prince Wreh underscored the need for targeted campaigns to support Liberia’s economic zones, highlighting the potential for growth across industries such as manufacturing, agriculture, aquaculture, tourism, and sanitation.
According to Mr. Wreh, the event marks the beginning of a collaborative economic strategy aimed at creating growth opportunities in alignment with Liberia’s five-year national development plan.
“This collaborative engagement enables stakeholders to come together, receive training, and align on a shared vision for attracting future investments,” said Wreh.
He urged participants to look to successful economic models as examples of how strategic partnerships can advance Liberia’s economic goals. Additionally, Wreh invoked the legacy of former President William R. Tolbert, who promoted foreign investment and regional trade, encouraging attendees to emulate his vision for economic growth.
Wreh expressed his appreciation to USAID for their role in facilitating the workshop, emphasizing the agency’s role as a valued partner in Liberia’s development.
He also encouraged attendees to leverage the knowledge shared at the event, which he believes will be crucial to establishing a newly proposed secretariat focused on economic collaboration.
“We are actively exploring new engagement opportunities with USAID,” he added.
Hattie Hunder, Human Resources and Administrative Manager at LSEZA, provided insights into the role of the Special Economic Zone Authority, which is responsible for the development and regulation of Liberia’s designated economic zones.
She noted that five zones have been established, with the potential for expansion to attract more investment.
These zones, she explained, serve as a foundation for both foreign investors and Liberian businesses to thrive.
“Our outreach efforts include highlighting companies and businesses in need to grant them the rights and responsibilities to operate under high or low-risk conditions,” Hunder stated. “This regulatory support offers a unique advantage to citizens, ensuring business growth that benefits the entire community, not just investors.”
Hunder also shared that workshop participants are expected to contribute to newly formed working groups focused on private sector collaboration, as this sector’s involvement is critical to LSEZA’s goals.
The engagement concluded with a proposal to establish a Secretariat, comprising representatives from donor agencies, the public and private sectors, to serve as a technical working group.
This collaborative body aims to unlock Liberia’s economic potential by building consensus among stakeholders and driving coordinated investment efforts.
The event saw participation from various sectors, including private businesses, public institutions, USAID, and other key stakeholders, underscoring Liberia’s commitment to sustainable economic growth through strengthened partnerships and strategic investment initiatives.
