Ellen submits agreement value over US $ 70 M

President Ellen Johnson Sirleaf has submitted a bill on the Investment Incentive Agreement between the Government of Liberia and Musons Group Inc. to the House of Representatives for ratification.

In a communication addressed to the Speaker of the House of Representatives, Emmanuel Nuquay on Tuesday, 23 May President Sirleaf notes that the agreement worth over US$70 Million.

The President says the purpose of the investment is to actualize government’s initiative of attracting and encouraging investors to Liberia, saying this investment incentive contract is for the construction, development and maintenance of state of the art hotels and resorts in Marshall, Margibi County that will consist of 210 rooms and other recreational facilities.

She adds that when completed, the facilities will develop the tourism sector, provide jobs, and generate revenues as well as opportunities for Liberians to showcase their talents and improve the livelihood of the citizenry.

Sirleaf notes that the investment incentive agreement, which has a lifespan of 50 years, will develop and put Liberia’s hotel and tourism sectors on par with developed nations, encourage the construction of facilities that would attract world leaders and dignitaries to consider hosting major conferences and other global activities here.

President Sirleaf in her communication, further explains that the agreement, which is in line with Liberia’s relevant laws and public policy appertaining thereto,compliments the development plan of the hotel and resort sector of the country, thereby attracting tourists, adding that government is committed to creating jobs and a sustainable economic environment, stressing that its passage into law will demonstrate Liberia’s commitment and implementation in that endeavor.

Meanwhile, the plenary of the House of Representatives has forwarded the communication to the Committee on Investment and Concession,Judiciary, Information, Broadcasting and Tourism and Ways, Means and Finance, to report in two weeks.

By Bridgett Milton-Editing by Jonathan Browne