Pince A. Wreh, Executive Chairman of the Liberia Special Economic Zones Authority (LSEZA), has outlined a vision for leveraging private sector investment to spur economic growth and development in Liberia.
The event, held at the EJS Ministerial Conference in Oldest Congo Town, brought together government officials, investors, and development partners under the theme “Winds of Change – Leveraging Private Sector Investment to Spur Growth and Development.”
In his speech, Mr. Wreh emphasized the critical role that Special Economic Zones (SEZs) will play in transforming Liberia’s economy.
He highlighted the recent launch of the African Development Bank-funded Special Agro Processing Zone project at the Monrovia Freezone, describing it as a significant step towards reimagining agriculture as a driver of economic growth rather than just subsistence.
“The theme of this launch, ‘The Green Future,’ symbolizes our pathway from the traditional thought of agriculture as a means of feeding our families to viewing agriculture as agri-business with the potential for value addition and economic growth,” Wreh stated.
The Liberia Special Economic Zones Authority was established with a clear mandate to drive economic transformation by creating favorable conditions for investment, fostering industrial growth, and generating employment opportunities.
According to Wreh, the attractiveness of SEZs lies in their ability to offer a favorable business environment characterized by jurisdictional benefits, administrative autonomy, and regulatory independence.
“Liberia’s entry into the Special Economic Zones market is distinct,” Wreh noted. “We are not seeking to compete in traditional labor-intensive manufacturing sectors. Instead, we are focusing on sectors where we have a clear comparative advantage—agriculture, natural resources, and tourism.”
Wreh outlined the key features of Liberia’s approach to SEZ development, which includes tailored regulatory frameworks that allow businesses to operate under conditions optimal for growth.
This approach also emphasizes sustainable development, with SEZs integrating green technologies and responsible resource management.
Among the sites designated for SEZ development are the Monrovia Freezone adjacent to the Freeport of Monrovia, the Mesurado Pier on Bushrod Island, and the Roberts International Airport.
The largest site, the proposed Buchanan Agro Processing Zone, covers 600 hectares, with 200 hectares specifically carved out for agro-processing.
Mr. Wreh also underscored the Liberian government’s commitment to supporting the creation and development of SEZs, noting that these zones are central to the country’s broader economic strategy, as reflected in the ARREST Agenda.
He expressed gratitude to the country’s international partners, including the World Bank, USAID, UNDP, and particularly the African Development Bank, for their instrumental role in realizing the vision of the Special Agro Processing Project.
As Liberia embarks on this ambitious economic journey, Wreh urged all stakeholders to seize the opportunities ahead, emphasizing the potential for SEZs to become engines of economic empowerment, job creation, and poverty reduction.
“The winds of change are indeed blowing through Liberia,” Wreh concluded. “With the leveraging of private sector investment, we can spur growth and development that will transform our economy and enhance the livelihood of our people.”
As the conference continues, the eyes of investors and development partners remain on Liberia, hopeful that this new approach will indeed bring about the much-needed economic transformation.
