Business trip to Liberia!
NABC is very pleased to inform you about our business trip to Liberia! This will take place from 23rd untill the 25th of November. This business trip is organised by the NABC in close cooperation with SPARK. It is open to all companies active in various sectors. NABC will ensure that entrepreneurs from all sectors will be served accordingly.
This business trip is a great way to get to know the country, its business climate and the plenty of opportunities Liberia has to offer. It will help you expanding your business and provide you with potential business partners. The programme of the mission will mainly consist of a “doing business in Liberia” seminar, a network lunch and a matchmaking session. More importantly, we will also organise bilateral meetings with counterparts based on your wishes.
Please click on this link for the programme. Please note that it concerns a first draft, hence, it will be subject to changes.
Liberia, the first official Republic of Liberia, is a country located in the western part of Africa and is home to about 4 million inhabitants. The capital of Liberia is Monorovia, named after the president of the United States, James Monroe.
Despite weakness in the global economy, growth in the Liberian economy has remained stable in the last couple of years. Liberia’s economy grew at 8.1% in 2013, led by increasing iron ore exports, construction and a robust services sector. The real GDP growth is projected to decrease a bit to 6.8% in 2014 and increase again with 8.2% in 2015. The aim of her government is to move Liberia to the middle-income status by 2030
Population : 4,092,310 (July 2014 est.)
GDP Growth rate : 8.1% (2013 est.)
Languages : English 20% (official)
About 70% of the population work in the agricultural sector, which produces rubber, coffee, cocoa, rice, cassava, palm oil, sugarcane, bananas and more. The majority is involved in small scale farming, raising cattle and cultivating small plots of usually less than three acres, where a number of crops are grown for domestic consumption. Despite great importance to Liberian citizens, the agricultural sector remains underdeveloped. Liberia is still for two-third dependent on food imports, while only 3,5% of the arable land is cultivated.
The potential for export to the international fruit and vegetable market is high. Accessing it requires quality control, post-harvest handling, storage, and efficient transport, all of which offer opportunities .
Liberia’s 10.000 km road network has been severely damaged during the conflict. The Transport Master Plan 2012-2017 aims to improve the road network by paving 1.513 km of roads, linking Monravia to other major towns and the borders with Sierra Leone, Côte d’Ivoire and Guinea. Part of the plan is using innovative techniques for road maintenance and partnerships with the private sector in order to facilitate long-term preservation of road assets.
Liberia was the most recent West African country to start oil exploration along its coast. In 2012 the National Oil Company of Liberia (NOCAL) and African Petroleum announced that there was strong evidence of Liberia’s offshore prospects. In 2013, NOCAL licensed 12 offshore blocks for exploration to companies such as Chevron, Anadarko, Peppercoast Petroleum, China Sinopec, European Hydrocarbons, Oranto, Repsol, and Woodside.
In this context, there are opportunities in the upstream and downstream products and services. There is, for example, a need for storage tanks, tank farms, environmental and fire-fighting systems, petroleum testing laboratories, and refinery expertise. Transport and logistics services for oil rig personnel may provide a growth opportunity as well.
In Liberia there is an abundance of mineral wealth, mainly iron ore, gold and diamonds. Since 2006, Liberia has attracted more than US$16 billion worth of investments and has attracted companies such as Arcelor Mittel and BHP Billiton. The investments are to lift the sector from 1% of GDP in 2011 to 20% of GDP by 2015.
As the mining sector is taking off, the demand for technical, geological and engineering services is growing, just like mining machines and equipment.
|From||November 23, 2014|
|Till||November 25, 2014|