Sierra Leone & Liberia Business Day. The Hague, Netherlands Tuesday, SEPTEMBER 11, 2018

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1 Sierra Leone & Liberia Business Day The Hague, Netherlands Tuesday, SEPTEMBER 11, 2018

2 W Who we are The National Investment Commission (NIC) was established September 6, 1979 and amended in The NIC encourages, promotes, facilitates and attracts domestic and foreign direct investments in all sector of the economy. The NIC manages all GOL investment related assets and equity interests. NIC s Mandate To encourage, promote and assist in the development of foreign direct investment in all sectors of the economy. To encourage and foster support for domestic entrepreneurs in collaboration with the Ministry of Commerce and Industry and other relevant Government institutions.

3 AGRI-BUSINESS ENERGY LOGISTICS HEALTH

4 Snapshot of Investment Climate Investment Climate Liberia Business Registry (LBR) One-Stop-Shop (within 48 hours). WTO Accession creates partial and full liberalization of sectors to attract foreign investors. Over the medium term ( ), economic growth is expected to stabilize. Investment Incentives $500,000 to $9.99m in the priority sectors qualify for Special investment incentive {Section 16 2(B) Revenue Code as Amended in 2016}. $10m and above Investments are incentivized and contract ratified. Economic Diversification Promoting value chain addition in agriculture and agri-businesses: Cocoa, rubber, oil palm, horticulture, aqua and marine fisheries, maize, cashew, light manufacturing, etc. Tourism (eco tourism & hospitality) and its associated services has huge potential.

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6 Agriculture / Agro - Processing Cassava Over 80mt of cassava is consumed every year in ECOWAS. Liberia accounts for 520,000 tons, Market growing by 4% p.a. Rice Industrial processors in rice and investment in commercially viable irrigation schemes Consumed about 570,000 tons of rice (2017) Approx. 235m USD p.a. Oil Palm Production and processing, including investing in Out grower Schemes; Bio-energy. Opportunities for the production of oil palm products (e.g. soaps, cooking oil, etc.) Rubber 90,000mt, potential expansion to 325,000mt Over 200,000 ha of arable land available 55% of rubber from small farmers.

7 Cocoa Rich land for cultivation with yield = 200 kg/ha; Potential to increase to 1,000kg/ha. Global demand increasing 6% p.a.; Horticulture Currently producing about 312,000mt worth of fruit & vegetables. Domestic market alone is worth $103 million p.a. Poultry and Animal Husbandry Investment in feeds production, Opportunity in breeding of livestock

8 Maize & Cashew Opportunities for commercial production of both maize and Cashew for local consumption and export Opportunity for the production of fertilizers and agro-chemicals Fishery & Aquaculture Accounts for about 12% of the agricultural GDP and 4% of the Nation's GDP.

9 Four Methods of Fishing Industrial Fishery long liners targeting off shore tuna resources, crab vessels and on-shore cold storage facilities. Artisanal Fisheries provides food and livelihoods to coastal communities Inland Fisheries Freshwater bodies cover 15,050 km² (14%) of the total area of Liberia. contributes approximately 25% of fish consumed by rural dwellers. Marine Fisheries 20,000 sq. km of fishing ground, 23,800mt p.a. consumed locally. Only 7,300mt produced locally p.a.

10 ENERGY ANTICIPATED GENERATION 900MW Total Installed Capacity 126MW Gap 774MW CURRENT GENERATION Total Installed Generation Capacity: 126 MW Diesel and HFO: 38 MW Hydro: 88 MW CURRENT CONNECTIONS Current access rate: 5% Rural: 2% Urban: 7% Average Tariff: $0.35/kWh Households without Power: 4 million

11 Energy: Where are we? Electricity Coverage Investment Opportunities: Mainly in Transmission and Distribution

12 Logistics Water Transport Agricultural transport services linking prime growing areas to Monrovia & ports Coastal & Inland Water Transport: 6 major rivers, also in Monrovia 580 kilometers of Coastline (360 mi). Land Transport - PPP Opportunities Provision Of Mass Transport Services Public Parking Facilities Construction of bus stations & bus services

13 Rail transport Expansion of the existing rail infrastructure; Development of new railways in an effort to enhance the movement of people and freight. Trucking Services Commercial truck transportation service - a viable business in Liberia. Equipment Leasing Equipment leasing as an alternative means of financing for agriculture, road construction and others. Opportunity to establish a leasing company

14 Domestic Airport Development One domestic airport -James Spriggs Airfield ( opportunity for PPP, Potential for domestic and regional flights Estimated cost of project: US$ 12.7m ) 31 local Airstrips and only 7 operational Opportunity for domestic flights for both human and cargo Opportunities for direct regional and sub-regional flights

15 SEA PORT DEVELOPMENT Port of Monrovia The NPA System has 4 Seaports Freeport of Monrovia Port of Buchanan Port of Greenville OVERVIEW Port of Harper The Ports of Monrovia, Buchanan, and Greenville are ISPS (International Ship and Port Facility Security) Compliant. The Port of Harper is not ISPS compliant. Port of Buchanan Opportunities Rehabilitation and expansion of the four major seaports Port of Greenville 15

16 HEALTH -Investment Opportunities Well-equipped laboratories -for MRI, CT scan, Diagnostic, Imaging and scanning, and advance testing etc. Mobile labs and clinics for rural areas-an effective, responsive and sustainable health care delivery system Health Information System managing, tracking information and reliable data, and making data easily accessible to all interested parties to make informed decisions. Effective supply chain management Transportation delivery trucks and air transport of medical supplies and patients. Threshold for investment incentive in the health sector is US$50,000 required

17 Why Invest in Liberia 1. Access to Regional Markets: Liberia has access to over 335 million 2. Low cost of labor: Youthful population, minimum wage set at US$ per day. 3. Minimum restriction on the repatriation of profits: Section 11 of the Investment Act of Political stability: Liberia has been politically stable for the past 15 years, 5. Supportive Tax Regime: Income tax rate is 25% on profits or 2% of turnover; 6. International Markets: EU s everything But Arms (EBA), US-Africa Growth and Opportunity Act (AGOA), ECOWAS Trade and Liberalization Scheme (ETLS) 7. Guarantee against unfair expropriation: In Section 7 of the Investment Act of Prohibition against discrimination 9. Ease of Starting a Business: 37 in the world and 6 th in Sub-Saharan Africa 10. Large untapped natural resources base: endowed with several rich minerals and other raw materials, including gold, diamonds, iron ore, bauxite, rubber, timber etc..

18 THANK YOU! National Investment Commission M&E Professional Building United Nations Drive Mailbag 9043 Monrovia- Liberia West Africa Tel: /