-Chamber Of Commerce President Tells Investors
By Jackson C. Clay, Jr.
The President of the Liberia Chamber of Commerce, Wendell Addy has told investors coming into the country that Liberia needs quality investments.
Speaking in brief remark at the start of a two day meeting with some investors at the National Investment Commission (NIC) over the weekend, Addy said Liberia is looking for real and tangible investments.
“We are looking for quality investments for the country. We are looking at less extraction but the transformation of our raw materials into finish products,” Addy said.
The Liberia Chamber of Commerce President told the investors that there are sectors within Liberia that need some real investments and would cost just a little to invest in those areas.
Making direct reference to the rubber and iron ore sectors, Addy stated that Liberia has good prospect within that sector, but yet the country still inputs tires and steel products at a very high cost.
He believes that it does not make any sense for Liberia to be inputting finished products of those raw materials, adding that he sees no reason why the raw materials continue to be exported and being brought back at very high prices to the disadvantage of the larger population in the country.
“We have the raw materials in rubbers and iron ore yet we input tires, it just does not make sense and I see no reason why we continue to export the raw materials and bring it back at high prices and tax them to the disadvantages of the larger population,” the Liberia Chamber of Commerce President stressed.
He stated that his role as President of the Liberia Chambers of Commerce is to ensure that businesses operating in Liberia properly function so as to grow the country’s economy and create more jobs for Liberians.
At the same, the group under the banner Marine Foundation has said it has ten years priority plans and programs for the whole of Africa, thus, it has been able to so far to mobilize three billion United States dollars with seven billion in promises for the execution of this plan.
Speaking through its first vice Chairman and Co-founder of the group, Alhajj Dr. Alhussein Banao said his group is comprised of both philanthropy and business aspect.
Alhajj Dr. Banao stated that his group is a newly established group based in Switzerland with the single most purpose of carrying out investment within Africa, with Liberia being no exception.