House Committee Seeks Investment Incentive For Farmington Hotel


Monrovia – The Joint Committee on Investment and Concessions and Judiciary of the House of Representatives has recommended to its plenary the ratification of an investment Incentive Agreement between the Republic of Liberia and the Farmington Hotels Resorts, Inc.

Report by Henry Karmo –  [email protected] 

In the recommendation the committee said, after it had critically and carefully scrutinized the agreement as requested by the plenary, and in view of the foregoing facts and circumstances, it was the considered opinion of the joint committee that the plenary of the House of Representatives ratifies the agreement and send it to the Liberian senate for concurrence.

The committee said: “Hon. Speaker and my esteemed colleagues, the Joint Committee hereby report that after careful review and analysis of the investment incentive agreement between the Republic of Liberia and the RIA Hotels Resorts Inc. and realizing that the hotel or tourism business is struggling industry in our country’s economy, the joint committee has the honor most respectfully to recommend the ratification of this investment incentive Agreement.”

The committee said after conducting hearings with Representatives from the National Investment Commission (NIC), Ministry of Finance and Development planning, and the Liberia Revenue Authority (LRA) they gathered that when the agreement is ratified it will provide several benefits.

Some of the many benefits expected from the agreement include; providing more than a thousand jobs, electricity to the airport and its environs, provide modern public health conditions in accordance with generally accepted health and sanitation procedures and laws.

The agreement is also expected to bring about the construction and development of 164 rooms and suites, a presidential suite that will be used by the Hotel’s guest and patrons; Coffee shop; internet access; Restaurant and bar; multiple shops selling non-prescription drugs, gifts, sundries, flowers and apparel amongst others.

In reference the committee said, the RIA Hotels resorts is a corporation duly organized and registered under the laws of Liberia.

On May 1, 2011, the Hotel entered into a lease agreement for the period of the thirty (30) years for the purpose of constructing a five star multi-purpose hotel and resort facility.

The committee believes with the development carried out by the RIA Hotels resort will grow the private sector, as well as facilitate the growth and development of travel and tourism which will also have significant benefits to local economy, reduce high unemployment, revive financial wealth and promote economic development and sustainability.

“Honorable speaker and colleagues, the needs of business travellers and airline personnel for whom proximity to the Airport  is important, as well other analyses, conducted concerning the demand for hotel capacity and the historically low rate of hotel development in Liberia, demonstrates that the Hotel would serve unmet and new market demands,” the committee added.