About Liberia NIC
The National Investment Commission (NIC) is the Government of Liberia agency responsible for investment promotion, generation, and facilitation. It was established by the Legislature on September 6, 1979, and amended in 2010, with the mandate to promote Liberia’s investment opportunities; attract and support the growth of value-added foreign direct investments (FDIs), and advocate for and strengthen the domestic private sector.
NIC chairs the Inter-Ministerial Concession Committee (IMCC) which receives reports of Technical Committees on Tender Evaluations and negotiates concession contracts which are subject to the approval of the cabinet. NIC also chairs the Board of Commissioners’ meeting which approves investment incentive contracts above the US$10 million.
The Investment Promotion Act gives the sacretariat the overall responsibility of the Authority with the Chairman and Executive Director being Presidential appointees. Other members are representatives of the Government in their various capacities and the head various departments within the NIC. In its governance, the Sacretariat has established five departments consisting of:
- Investment Promotion Department (IPD)
- Concession Development & Private Public Partnership Department (CDPPPD)
- Private Sector Development Department (PSD)
- Finance, Human Resource and Administration Department
- Project Implentation Unit (PIU)
- Transparency: We conduct ourselves with openness in all aspects of our work.
- Respect: We honor the rights and beliefs of our stakeholders. We treat others with the highest degree of dignity and equality.
- Accountability: We accept our responsibilities for our commitments and performance in all of our decisions and actions.
- Integrity: We employ the highest ethical standards, demonstrating trustworthiness, honesty, and fairness in every action that we take.
- Teamwork: Our team is supportive of each other’s efforts, loyal to one another, and care for each other both personally and professionally, and this spirit of collaboration is extended to our stakeholders.
- Service: We are dedicated to satisfying client needs and honoring commitments that we have made to them in the most effective and efficient manner possible.
What is NIC?
The Liberia National Investment Commission (NIC) is the Government of Liberia’s agency that attracts foreign direct investments (FDI) and supports the growth of the domestic private sector while advocating for the improvement of the business environment. The Commission formulates and implements several measures geared towards the actualization of this mandate.
What is NIC's Vision?
The Liberia National Investment Commission aspires to be the premier institution providing quality investment and promotional services to local and foreign investors in order to build a vibrant economy.
How is NIC structured?
NIC is headed by the Chairman, who has a cabinet ministerial rank, and five other presidential appointees/Commissioners through the Inter-Ministerial Concession Committee. Those Ministers/Commissioners include Minister of Finance and Development Planning, Minister of Justice, Minister of Commerce & Industry, Minister of State for Economic Affairs, and the investment sector-specific Ministries Agencies & Commissions.
The NIC has a Secretariat, the working body of the Commission, headed by the Executive Director who reports directly to the Chairman of NIC.
What is the IMCC?
The IMCC is the Inter-Ministerial Concession Committee which is chaired by NIC. It comprises of the Ministry of Finance & Development Planning, Ministry of Justice, Ministry of State, and the Sector-specific Ministry/Agency/Commission (Ministry of Agriculture for agriculture-related projects, Ministry of Lands & Mines for mining and energy-related projects, etc). This Committee negotiates Investment contracts valued above USD $10M which requires legislative ratification and presidential approval.