Liberia: Amid Challenging Business Climate, Businessman Amin Modad Unveils Beach Escape
Monrovia – A dismal economic outlook has not stopped businessman Amin Modad from investing in his homeland.
Despite having a number of successful businesses including Bella Casa Hotel/Restaurant, and a food production company that produces bottled water, juices, and packaged red palm oil for export, the businessman is this weekend unveiling a first-class beach escape.
“I’ve grown to except that we are in a changing and challenging world and I should not be limited by mediocrity, the challenges, or individuals that get in the way of my goals. I grew up down Water Side, coming from a humble background, I believe that challenges also provide opportunities if you are prudent, sincere, hardworking and have the motivation to identify them.”Amin Modad, Businessman
Modad says, the slow economy is no excuse to give up on Liberia, in spite of the challenges. “My motivation comes from the fact that beyond being able to take care of my family, I’m impacting the economy and the lives of the people.”
Modad, a who served as Liberia’s first representative to World Trade Organization, was instrumental in coordinating the development of most of the contemporary trade related policies. He realized even then, that tourism happens to be a trade related industry that has one of the highest potentials of positively impacting the entire country.
Yet he says the sector remains largely untapped and underexploited. “I am someone who walks the talk and lead by example. Thus, all my investments are in line with those policies that I developed and the sectors I proposed as viable and key to our national development. The plan for this property extends beyond the beach. This is one industry that I hope to lead and encourage other Liberians to invest in by effectively competing with our foreign counterparts.”
In Liberia, tourism forms a small part of the national economy with frequent visitors from the United States of America. Although the economy, including the tourist industry, was badly damaged by civil war in the country, it has seen a steep spike in recent years with the launching of a Tourism Association.
On why he’s taking yet another risk in a difficult investment climate, Modad says the question is one he’s often asked with undertones of skepticisms from inquiring minds. “People ask me this all the time. Indeed, sometimes it gets so inhibitive and discouraging, you think it’s best to stop investing in Liberia or to try investing elsewhere. But for me, it is not all about the money and profits; I truly love my country and I have nowhere else to go.”
Modad says he feels proud and obligated to give back and impact the society through his investments. “Regardless of how bad it gets, no situation or individual will deter me from playing the role I must play.”
The businessman says he approaches business as all endeavors in his life, heads on, and with equanimity. “I’ve grown to except that we are in a changing and challenging world and I should not be limited by mediocrity, the challenges, or individuals that get in the way of my goals. I grew up down Water Side, coming from a humble background, I believe that challenges also provide opportunities if you are prudent, sincere, hardworking and have the motivation to identify them.”
Interest from Radisson
The beach escape primarily located near the old fish market community on Tubman Boulevard offers fine dining, swimming pools, good music and a comforting environment, Modad says has lots of rooms for expansion with some major investors looking to explore. “That’s the plan. Radisson has expressed interest in partnering on a US$21M Radisson Blu project.”
Modad says the property remains the only stretch of property in Monrovia of such size (4 acres) that extends from the main Tubman Boulevard to the beach. “In fact, though Monrovia is along the Atlantic coast, no hotel in Monrovia has such size of land and access so strategically positioned. Let’s see how this first step that I’m taking on my own works; the level of support I receive from the government and interests from the financial community might encourage me to pursue the partnership.”