By Bridgett Milton
Monrovia: The Chairperson on Concession, Investment and Agreement at the House of Representatives, Clarence Massaquoi, says upon representatives’ return from their break, he will propose that all Mineral Development Agreements (MDAs) be revisited.
Speaking to a team of Legislative reporters recently, Representative Massaquoi said he will submit a bill seeking that those agreements be looked at to ensure all-natural resources benefit the people of Liberia.
He added that this bill, when submitted to the House of Representatives, would in no way scare away investors from the country, but it would rather ensure that the ordinary people benefit from the country’s natural resources.
Massaquoi stated that the review of law is to look at all MDA laws and strengthen them.
According to him, the House of Representatives sees natural resources as an endowment given to the country by the creator himself and the House is also seriously concerned about these resources.
The Lofa County lawmaker said when all concession agreements and investment incentives are reviewed, the House will establish the current level of compliance and the economic benefits the country stands to achieve.
He said the ArcelorMittal deal has been reviewed two times and some adjustments were made.
Contrary to view in the public that the House rejected the deal because they don’t like the company, Rep. Massaquoi said it is far from the truth, saying the House will be on the side of the people against any law for investors that compromises the interest of the people.
Rep. Massaquoi said the review will also ensure that initial negotiations between the Executive and Investors be in line with recommendations from the Legislature to avoid lapses witnessed during the recent ArcelorMittal third amendment.
The House of Representatives during one of its special sessions voted to return the third amendment of ArcelorMittal to the Executive for renegotiations.
