-Pro Tempore Chie tells NIC
Senate President Pro-Tempore Albert T. Chie has challenged the National Investment Commission and its partners to be economic transformers here by aggressively promoting investment opportunities, and supporting the growth of foreign direct investments.
Speaking Wednesday, June 30, 2021, 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.
Chief recalled that he had the privilege of attending a similar investment forum in Washington, D.C. over a decade ago, then as Assistant Minister for Energy at the Ministry of Mines and Energy, adding that the energy sector was one of the key investment areas 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.
Pro-Temp Chie: “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”.
Senator Chie at the same time joined other participants of the forum to underscore the importance of investment in agriculture, health, and tourism sectors.
He added that these are crucial areas that every country needs to invest in, if she much achieves economic prosperity, agriculture being the leading sector of the economy.
He at the same time mentioned that until 1979, the country’s economy was among the more developed and fastest-growing in Sub-Saharan Africa.
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 indicated that following the 1980 coup d’état, the economy experienced a drastic decline which even became worse by the civil war that caused a brain drain and loss of capital.
He added that investment in the soil has the capacity to yield huge returns and health 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 disclosed that in coming years, the Liberia Senate will look keenly at the budgetary allocation to the tourism sector to put it on its feet so that it can reach out to private sector interest, adding that Health and Agriculture continue to receive priority in the national budget, and that there is opportunity for increment to respond aggrievedly to the needs of both sectors