Monrovia, Liberia – In a landmark move towards economic revitalization, the Government of Liberia, through the Liberia Special Economic Zone Authority (LSEZA), officially launched the Special Agro-Industrial Processing Zone (SAPZ) in Monrovia on July 31, 2024.
The event, held at the Liberia Industrial Free Zone, was attended by high-ranking government officials, including Vice President Jeremiah K. Koung, Speaker Fonati Koffa, and Senate Pro-Tempore Nyonblee Karnga Lawrence.
International partners, private sector organizations, and citizens from across the country were also present.
The SAPZ project is a collaborative effort supported by international partners such as the African Development Bank (AfDB), USAID, and UNDP, with the African Development Bank providing $19.4 million in funding to bring this vision to life.
Vice President Koung, who led the inauguration, emphasized the SAPZ’s significance in aligning with Liberia’s broader economic and industrial strategy.
He expressed gratitude to the African Development Bank for its pivotal role in Liberia’s development and highlighted the SAPZ’s potential to enhance value addition, reduce staple food imports, and transform raw agricultural produce into finished goods for both local consumption and export.
In his remarks, Vice President Koung outlined future proposals for expanding the country’s processing facilities and creating new job opportunities, including plans to establish a margarine and butter production plant.
He urged stakeholders to capitalize on the opportunities presented by the SAPZ and called for collaborative efforts to ensure the project’s success.
The launch, themed “A Green Future,” featured a domestic trade fair showcasing a variety of agricultural products, marking a significant step towards revitalizing Liberia’s industrial landscape, which has faced challenges since the civil war.
Prince Wreh, Executive Chairman of LSEZA, emphasized the long-term vision of the SAPZ as part of a broader agenda to transform Liberia’s agricultural sector.
He noted that the initiative aims to enhance food security, increase value addition, and improve the country’s competitiveness in global markets.
Additionally, the SAPZ project seeks to create economic hubs, improve infrastructure, and stimulate overall economic growth.
Covering 200 hectares of land, the SAPZ is expected to attract significant investments in the agro-industrial sector, potentially driving economic growth, increasing foreign direct investment, and creating employment opportunities.
Over 146,000 youths and women, particularly those residing in Grand Bassa County, where the project is being implemented, are expected to benefit from this five-year initiative.
The SAPZ’s roots trace back to 1975 when President William R. Tolbert commissioned the original facility. However, operations were halted due to the civil conflict.
The current administration, under President Joseph N. Boakai, has prioritized the revival of such economic zones, recognizing their importance to the nation’s development and economic revitalization.
Atty. Ebenezer Max Wilson, Director of Regulatory Affairs at LSEZA, highlighted that the SAPZ is part of a broader strategy to move Liberia towards industrialization and manufacturing.
The government, alongside its international partners, is committed to unlocking the full potential of the agricultural sector, paving the way for a brighter and more prosperous future for all Liberians.
Andrew Anderson, representing the National Investment Commission (NIC), underscored the government’s commitment to creating a conducive business environment through this project.
The SAPZ is expected to attract significant investments in the agro-industrial sector, which could drive economic growth, increase foreign direct investment, and create employment opportunities.
The NIC is focused on marketing Liberia as an ideal investment destination and is offering various incentives, including tax breaks and streamlined regulatory processes, to encourage both local and foreign investors.
By: Blesset Kpenkennie & G. Watson Richards
