03/11/2024 – 09:46
— New report highlights Liberia as a fertile ground for doing business
A newly published report titled “Liberia: A market on the rise” has declared Liberia as a country with high business potential. Produced by Business Sweden, and the Swedish embassy near Monrovia, the report highlighted business opportunities that Swedish companies can exploit in Liberia.
“The report not least highlights how Liberia’s focus on sustainable development opens up avenues for Swedish companies to contribute to the transition to more eco-friendly industries,” the Embassy of Sweden said in a Facebook Post.
Energy, clean tech, mining, infrastructure, transportation, agriculture, forestry, and med tech are key sectors named in the report. “Liberia offers potential for climate-smart and organic agriculture, mining, forestry and a market in need of clean-tech and Life Science solutions.”
In Liberia, Sweden is the second largest bilateral development cooperation that has made efforts to improve conditions of democracy, human rights, the rule of law, and gender equality; peaceful and inclusive societies. Sweden also supports inclusive economic development; and the environment, lessening climate impact, and maintaining a sustainable use of natural resources.
The launch of the report, which was held at Business Sweden in Stockholm, was organized by the International Council of Swedish Industry (NIR). Sweden’s ambassador to Liberia, Urban Sjöström participated in a report launch. Sjöström held discussed with relevant Swedish stakeholders.
According to the report, Liberia’s current development requirements present significant opportunities in energy and clean tech, mining technology, ICT, infrastructure, agriculture, and MedTech.
“Economic potential remains relatively untapped, particularly regarding the country’s natural resources. Swedish mining companies have the solutions and expertise to contribute to the transition to a more sustainable industry,” the report said.
“The importance of this transition goes beyond financial gains and reduced environmental damage; the transition would also contribute to social sustainability and improve conditions for human rights.”
The report noted that Liberia’s energy sector shows vast opportunities for investment, huge hydropower potential, and a substantial scope for solar energy. “Several EU and multilateral organizations financed projects are underway in Liberia, offering excellent opportunities for Swedish companies to participate in affiliated procurement processes.”
“Rebuilding and developing Liberia is a complex and challenging proposition that presents opportunities for Swedish companies to compete in tendering processes from multilateral banks. Pre-financing is often essential for such large-scale projects and investments to be effective and delivered promptly. Swedish Export Credit Agencies (ECAs) financing solutions can help Swedish companies stand out in these attractive bidding processes.”
