Monrovia – The Liberia Special Economic Zones Authority (LSEZA) and the Liberia Revenue Authority (LRA) have signed a Memorandum of Understanding with the aim of positioning Liberia as a destination for investment and trade.
The MOU establishes a criteria for performance-based tax incentives, which will be tied to measurable outcomes such as job creation, infrastructure development, investment in green energy and technologies, and export volume. It also allows LSEZA and the LRA to jointly monitor and evaluate the performance metrics of all potential SEZs over a prescribed period.
Making remarks at the signing ceremony, LSEZA Executive Chairman (EC), Prince Wreh, termed the signing as a monumental milestone that puts the Special Economic Zones Authority on an irreversible path for the establishment of a one stop for trade and investment.
EC Wreh further stated that the signing will help to alleviate bottlenecks and enhance Liberia’s competitiveness on the world market for the attraction of Investment and trade opportunities through the provision of tax incentives.
Meanwhile, LRA Commissioner General, James Dorbor Jallah, termed the signing ceremony as a pivotal moment for industrialization, trade facilitation, and sustainable economic growth in through SEZs.
CG Jallah stated that the LRA will continue to support the work of LSEZA to ensure best practise and maximize development.
The Liberia Special Economic Zones Authority (LSEZA), established in 2017, is mandated to designate, regulate, and manage Special Economic Zones across Liberia in other to provide a stable regulatory environment and a one-stop shop for investment facilitation, licensing, and approvals with the goal of attracting domestic and foreign investment, job creation, and accelerating economic growth.
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