President George Weah of the Republic of Liberia says there are untapped potentials in various sectors, including agriculture and tourism, which are emerging as economically viable options for his country.
Weah spoke at the on-going 5th edition of the Global Business Forum on Africa, which began on Nov. 18 in Dubai, United Arab Emirate.
He said that recently a reputable organisation, which gauges tourist attractions around the world, named Liberia as one African country with a huge but virgin ecosystem and pristine beaches that tourists should find exciting.
“We have to leverage on that in order to make Liberia a tourist destination.
“It is a venture with mutual benefits.
“We are also looking for innovative ways to improve the private sector and the country’s derelict infrastructure as a means of rekindling the overall economy.
“Putting the young people to work is a vital component of our development drive too.
“We are looking to attract investors from the UAE and elsewhere to Liberia.
“My country has great untapped potential in various sectors, including agriculture and tourism, which are emerging as economically viable options for the country,’’ he told participant at the two-day forum on Tuesday.
On incentives that Liberia could provide to UAE investors, the Ace footballer said that in the past, investors have been offered tax breaks and waivers as a means of lowering the cost of starting a business.
“These options can be explored on a case-by-case basis.
“In collaboration with our legislature, we have enacted laws during the last few years, which have attracted foreign investors.
“We are, therefore, open to having UAE investors being offered similar incentives,’’ he added.
Speaking on recent statistics on investment and trade between Liberia and the UAE, Weah explained that the aggregate trade between the two countries was still significantly low.
He added that available data showed that it hovers under one per cent of Liberia GDP.
According to him, there is a vast opportunity now to grow that number.
“In addition, we are open for investment and trade in the information and communications technology (ICT) sector too, which is beginning to emerge,’’ he said.
Edited by Abdulfatah Babatunde