The Algeria Ambassador to Guinea, accredited to Sierra Leone, Guinea and Liberia Ambassador S.E.M Fassih Kabah, on the 4th February 2019, visited the Sierra Leone Investment and Export Promotion Agency (SLIEPA) for information on the country’s investment opportunities, priorities and the intricacies involved in investing in Sierra Leone.
The Ambassador’s visit to SLIEPA was as a result of subsequent meetings with the Ministry of Foreign Affairs and International Corporation for a reinforcement of bilateral corporation between Sierra Leone and Algeria. According to him, they have proposed to Sierra Leone eight draft agreement among which they have a memorandum of understanding (M.O.U) in training (vocational training), economic corporation (Agriculture, plant protection, plant quarantine, livestock and fisheries) and diplomacy and politics. He said, more importantly for SLIEPA, is the proposed M.O.U between the Sierra Leone and Algeria Foreign Trade Promotion Agencies and that of the Chambers of Commerce of Trade. To finalize this corporation between the two countries, the Minister of Foreign Affairs and International Corporation, Dr. Ali Kabba has been given an official invitation to Algeria for March 2019, he explained.
Having disclosed their intent to bring in entrepreneurs from Algeria, Ambassador Kabah asked SLIEPA to bring up a document that clearly depicts the investment areas that Sierra Leone would want to work on with Algeria and as well a legal framework on investment policy including taxation and government incentives.
The Chief Executive Officer of the Sierra Leone Investment and Export Promotion Agency (SLIEPA) Mr. Sheku Lexmond Koroma, welcomed the Ambassador with delight. Going further, Mr. Koroma highlighted several investment opportunities on which Sierra Leone will collaborate with Algeria; these opportunities span from Agribusiness, marine fisheries, road infrastructure, energy, tourism, mining, oil and gas etc. He encouraged the Ambassador to link Sierra Leone with companies that will also utilize the country’s product as a way of creating room for export.
Responding to Ambassador Kabah, the SLIEPA Acting Director of Investment, Mr. Victor Bangura, joined the CEO to further reference three areas of the country’s interest: manufacturing, education and Health. He said, the Government is promoting economic diversification programmes, therefore whatever business that is coming in has to have a clear program on how to support our local businesses, for which government encourages the establishment of manufacturing facilities; if you are interested in livestock or rice for example, government would encourage you to have a processing outlet. What is key in that light is the quest of the government to promote the Local Content Policy, he said.
Moreover, Mr. Bangura said, the President Retired Brigadier Julius Maada Bio is very much particular about Education; being the government’s flagship program. He said, the private sector is growing because the government has opened up the space, so the country expects that there will be opportunities for skill development through training programs as a way to match with the country’s needs. Mr. Bangura added the need for private universities that will be able to admit students emerging from the Free Quality Education by the next three years. He said, government is promoting public private partnership in the health sector and it is also looking at eco-tourism to move out of Freetown to the provinces where eco-tourism opportunities are.
The Chief Executive Officer of SLIEPA Mr. Sheku Lexmond Koroma, thanked the Ambassador for their willingness to invest in Sierra Leone and also assured him of SLIEPA’s readiness to corporate with their proposer
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