The Top Ten Reasons for Investing in Liberia
There are many reasons for investing in Liberia; however, here are our top 10:
- Access to Regional Markets: Liberia has access to over 335 million consumers through ECOWAS. As a founding member of the Mano River Union and ECOWAS, Liberia is better positioned with access to these markets.
- Low cost of labor: With a very youthful population, Liberia’s cost of labor is set at US$5.00-6.00 per day.
- Minimum restriction on the repatriation of profits and no currency exchange restrictions: Section 11 of the Investment Act of 2010 strengthens investment protection by ensuring the ability of investors to repatriate capital and profits. These may include profits and dividends (net of taxes), remittance of money (net of taxes) in the event of the sale or liquidation of the business, repayments of loans acquired from foreign banks, etc.
- Political stability: Liberia has been politically stable for the past 11 years; holding two free, fair, and transparent elections. The former President of Liberia, Ellen Johnson-Sirleaf, won the Nobel Peace Prize in 2011.
- Tax Regime: The Revenue Code outlines clear tax regulations and tax exemptions for investors in target sectors.
- International Markets: Liberia receives preferential treatment under the EU’s Everything But Arms initiative. The EBA grants duty-free, and in most cases quota-free, access to the EU market. Liberia receives preferential treatment under the Africa Growth and Opportunity Act, which offers the most preferential access to the U.S. market available outside the free trade agreements. Liberia also has a Trade and Investment Framework Agreement with the United States. The country also has access to the Asian and African (outside ECOWAS) markets.
- Guarantee against unfair expropriation: In Section 7 of the Investment Act of 2010.
- Prohibition against discrimination: Subject to the Labor Law and Laws governing immigration, foreign investors, employers, and workers enjoy the same rights and are subject to the same duties and obligations as are applicable to citizens of Liberia.
- First nation in Africa to completely stop cutting down its trees and promote deforestation.
- Large untapped natural resources base: Liberia is endowed with several rich bodies of minerals and other raw materials, including gold, diamonds, iron ore, bauxite, rubber, timber, and much more.