Monrovia, Liberia – Liberia has the largest forest cover in West Africa, accounting for over 69% of its total land area, or 6.7 million hectares, according to President Joseph N. Boakai.
In his speech on Friday, August 23, 2024, at the 124th National Black Business Conference in Atlanta, Georgia, the President of the United States of America stated that Liberia is positioned as a regional hub for biodiversity and environmental sustainability because its forests account for at least 42% of the remaining forest cover in West Africa.
In his view, the nation’s forests are essential to its economy since they support trade in goods both timber and non-timber, energy from biomass, agriculture, fisheries, minerals, and other resources.
The Liberia Leader clarified that substantial investment prospects in the carbon market and ecotourism are also provided by the nation’s land and forest regulations.
“Liberia is richly endowed with natural wealth. With the country boasting some of the world’s critical minerals, including gold and diamonds, the mining sector provides one of the best attractions for investment in the country.”
According to Boakai, mining has historically played a major role in the economy of Liberia, and there are still huge iron ore deposits that need to be found and used. The President stated that the country’s natural richness, particularly its oil and gas potential, present a significant opportunity to collaborate with firms such as yours in order to generate money and enhance the standard of living for African communities and the Diaspora.
In order to optimize the financial gains from the mining of minerals, he pointed out that there is an increasing focus on value addition processes like steelmaking and gold processing.
“There is still a great deal of room for growth and discovery in the mining industry, which presents appealing investment options. Thus, I strongly advise you to consider making an investment in our natural resources.”
With more than 11,000 kilometers of unpaved roads, President Boakai stated that infrastructure development in Liberia is essential to the country’s economic growth strategy. This creates both opportunities and obstacles for investment.
He said that long-term financing mechanisms together with EPC (Engineering, Procurement, and Construction) contracts are how the government plans to finance road projects.
Boakai said, “These efforts are essential because road infrastructure improves access to markets, lowers transportation costs, and improves the overall business environment, all of which lay the groundwork for sustained economic growth.”
According to the Liberian leader, there are a lot of prospects to invest in the country’s real estate industry, especially in residential and commercial buildings.
Mr. Boakai stated that urbanization and population expansion are driving an increase in the demand for homes and commercial space. But cheap housing and mortgage financing, which are necessary to encourage wider access to homeownership, are conspicuously lacking.
As the need for sustainable energy solutions grows, President Boakai explained that the importance of infrastructure for energy production cannot be overstated. To fulfill its expanding energy needs, Liberia is looking at investing in solar, hydro, and biomass energy projects.
Reported by: Prince Saah
Contact: +231778239813
Email: saahprince119@gmail.com
