The President Pro-Tempore of the Liberian Senate, Albert T. Chie, has challenged the National Investment Commission and its partners to continuously play a major role in the economic transformation of the country by aggressively promoting investment opportunities, and supporting the growth of foreign direct investments.
Speaking recently at the second Liberia Business and investment Forum (LIBIF), a virtual event in Washington D.C, USA, Pro-temp Chie noted that the NIC should advocate for and strengthen the domestic private sector, well as ensure that the economic and social development objectives of the people of Liberia are achieved by and through favorable investment environment that guarantees security.
“I would like to extend profound and sincere appreciation, on behalf of the Liberian Senate, to you the organizers and sponsors of this important Business and Investment Forum, which is intended to develop strategies for economic growth, nurture sustainability through investment in Agriculture, Health sector and the tourism sectors of Liberia,” he acknowledged.
The Senate Pro-Tempore recalled that, he had the privilege of attending a similar investment forum, in Washington D.C., a little over a decade ago, than as Assistant Minister of Energy at the Ministry of Lands, Mines and Energy, adding that the energy sector was one of the key investment areas which were highlighted at the forum.
Since that he averred that the sector has attracted attention due to policy and regulatory reforms that were suggested at that forum and subsequently implemented by the Government of Liberia.
“At this forum our Country anticipates numerous dividends as we look forward to working along with investment partners from the United States and other Countries and commit the Liberia Senate in the creation of an enabling environment through the enactment of appropriate legislation and diligent discharge of oversight for the growth of the private sector,” Pro-temp Chie expressed.
Senator Chie at the same time joined other participants of the forum to underscore the importance of investment in agriculture, health and tourism sectors.
The Pro-Temp also pointed to the Liberia Sugar Corporation, LIBSUCO in Maryland County, the plywood business in Sinoe County, the fishing business of the Mesurado Group of companies and so forth.
Senator Chie used the forum to indicate that following the 1980 coup d’état, the economy experienced a drastic decline which even become worse by the civil war that caused a brain drain and the loss of capital.
He added that investment in the soil have the capacity to yield huge returns and healthy benefits that will culminate in National Food Security, noting that there are opportunities for rice concession, food preservation and packaging , and other agro-business opportunities.
“There are opportunities also for the health sector. We should now progressively strengthen our health sector that faces challenges of diverse proportions. If we must create a vibrant economy, there must be healthy people.” He stated.
The President Pro-Tempore disclosed that in the coming years, the Liberia Senate will look keenly at the budgetary allocation to the tourism sector in order to put it on its feet to be able to reach out to the private sector interest.
He ended by asserting that the Health and agriculture sectors continue to have priority in the national budget but there is opportunity for increase in order to respond aggrievedly to the needs of these sectors