‘Sime Darby Investment Needed’

– President Weah Tells People

Liberian president, George M. Weah said his government would do all to protect investment under his administration.

This is in line with his inaugural speech made. As a pro-poor government, his government would remain investment friendly and Sime Darby Plantation Liberia investment is needed.

He said this during a private conversation with some senior officials on the sideline of the retreat in Buchanan, Grand Bassa County.

“Sime Daby Investment is needed. This government will remain investment friendly once companies work within the framework of our laws,” the source close to the discussions quoted him as saying.

In 2009, the company signed a 63-year concession agreement with the Government of Liberia to develop 220,000 ha of land in Grand Cape Mount, Bomi, Gbarpolu and Bong into oil palm and rubber plantations. To date, 10,508 ha has been planted in 5 estates, namely Matambo, Grand Cape Mount, Zodua, Bomi and Lofa estates.

Out of the total planted area of 10,508 Ha, 10,401 Ha is planted with oil palm and 107 Ha is planted with rubber.

The company has constructed a state-of-the art oil palm mill worth over US$18M. This has led to additional employment.

The mill, according to company officials will process some 60 tons of Fresh Fruit Brunches (FFB) of oil palm per hour- one of the largest in the country.

During his inaugural address, President Weah said; “to investors, we say Liberia is open and ready for business. Over the long term, private investment will be our key strategy to delivering transformation. We will work to relax constraints to private investment; strengthen the business, legal and regulatory environment, and protect business profits.”