The Government of Liberia, through the Ministry of Information, Cultural Affairs, and Tourism (MICAT), has signed what it terms a “non-bidding” Memorandum of Understanding with a multimillion-dollar real estate developer in the People’s Republic of China.
The deal sets the stage for the construction of hotels, housing estates, and amusement parks in Liberia to boost the country’s tourism sector.
The government, through MICAT, says it views accommodation facilities such as hotels and housing as essential conduits that play important roles in enhancing tourism in Liberia, a sector prioritized in the country’s national development plan that has been rolled out since January 2024.
According to a MICAT press release, the MOU was signed at the China-Liberia Trade Forum organized in Shenzhen City.
The release stated that Liberia’s Minister of Information, Cultural Affairs, and Tourism, Jerolinmek Matthew Piah, signed on behalf of the Government of Liberia, while Mr. Zheng Xudong signed for Shanghai Black Rock Lake Enterprise Development Co., Ltd. in China.
The Ministry of Information, Cultural Affairs, and Tourism indicates in its press release that the firm, Shanghai Black Rock Lake Enterprise Development Co., Ltd. (China), with extensive experience in real estate development, project management, financing, and sustainable construction, plans to develop real estate projects such as serviced apartments, high-end shopping centers, and luxury residences in Monrovia and its surrounding areas.
According to the MOU, the firm “plans to develop an international community in the southern coastal area of Monrovia, covering approximately 60 acres, which will include hotels, apartments, residences, and entertainment areas such as amusement parks. The project is expected to create over 200 jobs, with a total investment of approximately $20 million.”
“The firm is committed to developing similar projects in the Monrovia area, further enhancing the city’s aesthetics, increasing local employment, and promoting economic growth,” MICAT stated.
The signing of the MOU, MICAT noted, is indicative of China’s confidence in investing in Liberia, which will enhance and accelerate economic growth.
