Liberia: President Boakai Engages Italian Business Leaders, Highlights Liberia’s Investment Potential

The meeting, organized by the Liberian Embassy in Rome, is part of ongoing efforts to encourage foreign investment and strengthen Liberia’s economic ties with Italy.

Rome, Italy – President Joseph Nyuma Boakai, on Wednesday held a high-profile meeting with representatives of Confimea Mediterraneo, a prominent Italian association representing over 250 enterprises across various sectors, including health, green economy, agriculture, oil and gas, construction, food, transport, and logistics. 

The meeting, organized by the Liberian Embassy in Rome, is part of ongoing efforts to encourage foreign investment and strengthen Liberia’s economic ties with Italy.

Confimea Mediterraneo is a key participant in the Mattei Plan for Africa, an initiative promoted by the Italian Government to foster deeper economic partnerships with African nations.

Addressing the gathering of Italian business leaders, President Boakai emphasized Liberia’s status as a “virgin nation” with vast untapped investment opportunities. He assured potential investors of the country’s friendly business environment and the prospects for significant returns on investment, particularly given Liberia’s strategic position within West Africa.

“Doing business in Liberia offers tremendous opportunities, especially in terms of profitability,” President Boakai stated. He also pointed to Liberia’s advantageous location for transshipment, facilitated by trade protocols within the Mano River Union, which simplify the movement of goods and services across the region.

The discussion attracted interest from Italian business leaders, who inquired about opportunities in sectors such as oil and gas, tourism, sanitation, health services, agriculture, green energy, power generation, and infrastructure development. 

Liberia’s Minister of Information, Cultural Affairs and Tourism, Jerelimek Piah, and Minister of Agriculture, Alexander Neutah, were present to address these inquiries and provide insights into sector-specific opportunities.

President Boakai  expressed optimism for Italian businesses to invest in Liberia’s road networks, banking sector, and restaurant industry, while also exploring the feasibility of constructing a coastal highway. 

He highlighted the need for expanding the country’s key seaports in Monrovia, Harper, Buchanan, and Greenville to accommodate increasing trade.

In his closing remarks, President Boakai underscored Liberia’s strong democratic foundation, noting that the country has successfully held four successive free, fair, and transparent elections. This stability, he said, contributes to an environment that is conducive to business and investment.

The President of Confimea Mediterraneo, Marco Bourelly, expressed interest in furthering the relationship with Liberia, committing to work closely with the Liberian Embassy in Rome to organize a trade delegation to Liberia soon.

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