For Immediate Release: Korean Delegation's Return Visit To Liberia To Explore Strategic Investment Opportunities

Press Release: 

KOREAN DELEGATION'S RETURN VISIT TO LIBERIA TO EXPLORE STRATEGIC INVESTMENT OPPORTUNITIES

Monrovia, Liberia: The National Investment Commission (NIC) of Liberia is pleased to announce the successful return visit of a high-level Korean delegation following the recent Korea-Africa Summit. The delegation, which visited Liberia from July 30 to August 3, 2024, has expressed strong interest in several key investment sectors, signaling a potential boost to Liberia’s economic growth.

The delegation’s visit, coordinated by the NIC in collaboration with various government ministries and agencies, focused on exploring investment opportunities across multiple sectors, including:

•            Establishment of a Starch Factory to Process Cassava: The Ministry of Agriculture (MoA) led the delegation to potential sites in Margibi and Grand Bassa Counties for the establishment of a cassava processing plant. This initiative aims to enhance Liberia's agricultural value chain by converting cassava into starch for both local and export markets.

•            Cold Storage Warehouse for Fisheries Products: As part of efforts to strengthen Liberia's fisheries sector, discussions were held with the National Fisheries and Aquaculture Authority (NaFAA) centered around establishing a cold storage facility to support tuna processing and storage. This facility is vital for maintaining product quality and expanding export capabilities.

•            Putu Iron Ore Project: The delegation held meetings with the Ministry of Mines & Energy to discuss potential investments in the Putu Iron Ore mines, highlighting Liberia's rich mineral resources and the strategic importance of the mining sector.

•            Agriculture Bank: The establishment of an Agriculture Bank to provide financial services tailored to the agricultural sector was explored, aiming to support farmers and agribusinesses across the country.

•            Rice Cultivation and Importation: The delegation expressed interest in both the cultivation of rice, leveraging advanced seed technology and machinery, and the importation of rice to ensure food security in Liberia.

•            Maritime Sector – Seamen Training: The delegation visited the Liberia Maritime Training Institute, with a view to investing in the training of seamen, enhancing the skills of Liberia's maritime workforce, and improving the country’s competitive edge in the global maritime industry.

Throughout the visit, the delegation engaged with key government officials, including the President, who hosted a dinner in honor of the delegation. H.E. emphasized Liberia's commitment to fostering strong bilateral relations with South Korea and attracting quality investments that align with the country's national development strategy.

The NIC is optimistic that the outcomes of this visit will lead to substantial investments in Liberia, further strengthening the Liberia-Korea partnership and contributing to sustainable economic development.