Liberia: Don't Drive Investors Away

Quite frankly, for the past 18 months, the investment climate in Liberia has not been progressively and productively favorable, let alone responsively praiseworthy as many indicators have vividly portrayed; bleak reflection currently suffocating vast spectrum of the ailing economy of rendering it (enemy) with 'cold feet' and incapacitated to function positively.

At the same time, the most needed energy to power the viability of the functionality of the saddled economy, mainly exports of essential materials profoundly attractive to global market and propelled by foreign capital investments,  are at the lowest  ebb on one hand, while grimly overwhelmed by 'venture fatigue' mates famine posture.

‪Clearly, Liberia has been seeking ways  for foreign investment in all sectors of the economy. Some investors are  sitting on the fence waiting to observe the  level of stability in the country.

‪ ‪"Every investor,  is always concern about the level  of stability and how they can get returns from their investments. When the environment is stable and   see a friendly business climate,  coupled with  effective judiciary system and  adequate dispensation of rule of law, it can bring confidence," Anthony S. Massaquoi a student of economy at the University of Liberia said.

‪ Sam Jackson, a Liberian economist once told a business forum in 2017.

" As these sad situations are in no hurry of subsiding rapidly rather continue to fuel more simmering signals of rough, tough and stiff challenges to the resuscitation of the badly hit economy, the government in its quest to turn things around in order to realize and sustain growth and development in the pinned-down economy pathetically backfired on the pro-poor administration, thereby sending a wave of questionable revelations that marred genuine sincerity, honesty, interest and seriousness to accommodate foreign investments with guaranteed protection in a court of competent jurisdiction."

For example, amidst sporadic international and public condemnations of a half-baked loan scheme entered into by government and so-called Eton, despite the huge criticism and    cry that Eton was not a reputable and credible financial entity and that the pro-poor regime was cutting a bad deal; it did not listen. Rather, it went ahead following robust defense in favor of Eon's ability and integrity to do business with, that led to the passing of an an act to legitimize  the 'toxic loan' that was never ever  see the light of day... Read more on All Africa

Source: All Africa