Liberia Identifies Three Key Sectors For Immediate Investment Opportunities
The National Investment Commission has identified three sectors, namely horticulture (fruits and vegetables), fisheries and transport, for short and medium term investment opportunities in Liberia. As these investments are not restricted to the traditional natural resource sectors, it creates more opportunities for the domestic private sector.
The announcement comes as the result of an assessment of 25 sub- sectors in Liberia, ranging across agribusiness, light manufacturing, energy and transportation, to determine their levels of impact, opportunities, capability, readiness and employment opportunities. Nearly 100 stakeholders were interviewed during this process. The International Finance Corporation (IFC) and Dalberg Consultants assisted the NIC with the data collection and analysis for the assessment.
At a meeting with members of the private sector, NIC Chairman 0. Natty B. Davis, II stated that now these real investment opportunities have been identified, the NIC intends to proactively engage these sectors over the next 12-36 months. He stated, “The NIC now has targeted and clear opportunities to attract investors. We can now undertake a more coordinated and strategic approach to investment generation. We are engaging all stakeholders. Findings from the assessment helps lay the foundation for the creation of an investment climate that will foster a sustainable increase in local and foreign investment in Liberia’s strategic sectors.”
The Government’s participation is. key to achieving success in tlese sectors. Therefore, last week the NIC shared findings from the assessment with members of the Government, and agreement was reached to develop a results-oriented mechanism to address key barriers and constraints to investment.
The identification of these three sectors is just the first of many steps that the NIC intends to take to drive investment into Liberia’s many sectors. Looking ahead, the NIC, with support from the World Bank, is already working on the development of Private Sector Development Strategy, which takes a broader and longer-term look at investment in the country.