Liberian Ministries and Agencies
The National Investment Commission (NIC), created by an Act of Legislature in 1975, is the primary Agency of Government responsible for developing strategies and policies to attract and promote foreign direct investment in Liberia and also stimulate the domestic private sector.
NIC’s primary mandate is to attract foreign direct investment to Liberia. The agency also allocates resources towards the stimulation and support of the domestic private sector, especially Liberian-owned businesses.
The National Investment Commission is a “One Stop Shop” for investors by acting as the primary channel for all investors coming into Liberia, interfacing with the Government on behalf of the investors in order to eliminate bureaucratic hurdles and aid investors at all stages of the investment process including but not limited to: market analysis, economic analysis, pre-feasibility studies, negotiations, documentation, land acquisition, granting of investment and leading investors to the relevant sectorial ministries and agencies of Government.
Ministerial Composition of NIC
- Chairman of NIC (Cabinet Minister Equivalent)
- Minister of Finance
- Minister of Justice
- Minister of Planning & Economic Affairs
- Minister of Commerce & Industry
- Minister of State for Finance & Legal Affairs
Incentives of NIC Under the Investment & Tax Codes
Under the Investment Act of 1975, NIC has the power to grant the following investment incentives:
- Duty-Free Privileges: 90% - 100% waiver on building materials, capital equipment, machinery, raw materials and spare parts
- Tax Holidays: Up to 5 years income tax waiver for selected investment projects
- Loss Carryover Provision: Allows businesses to offset losses in bad years against profits in good years, usually for a maximum of 5 years
- Accelerated Depreciation of Fixed Assets: Allows businesses to recoup investments in fixed assets faster and therefore do replacements more frequently
- Unrestricted repatriation of profits and dividends without cumbersome foreign exchange controls
- Special Excise Tax Exemption and other benefits for small/medium Liberian-owned enterprises
- Infant Industry Protection in the form of restriction on imports or higher duties for competitive products where local industry exists (import substitution)
- Export Subsidies (not favored by World Trade Organization)
Non Fiscal Incentives
- Preferential Lease of Land in the Industrial Park situated close to the Freeport of Monrovia
- Assistance in securing land on long-term lease especially for agriculture and real estate
- Support in securing loans and/or equity contribution by Government of Liberia or other investors
- Government equity, guarantee or loan participation in highly selective business
- Special incentives for enterprises engaged in agricultural or other essential production
Ministry of Agriculture
OUR VISION
Self-sufficient in staples, Self-reliant and Sustainable Agricultural Sector by the year 2015.
OUR MISSION
We believe that a modernized, sustainable and decentralised agricultural system is key to poverty reduction.
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OUR VISION
Self-sufficient in staples, Self-reliant and Sustainable Agricultural Sector by the year 2015.
OUR MISSION
We believe that a modernized, sustainable and decentralised agricultural system is key to poverty reduction.
The Ministry of Agriculture of the Republic of Liberia is dedicated to the mission of creating an enabling environment for a more dynamic and vibrant agricultural sector that is inclusive and shared to ensure sustainable food security and employment opportunities for all Liberians.
The Ministry of Agriculture of the Republic of Liberia is dedicated to the mission of creating an enabling environment for a more dynamic and vibrant agricultural sector that is inclusive and shared to ensure sustainable food security and employment opportunities for all Liberians.
The Ministry of Agriculture (MOA) is responsible for the development of the agriculture sector. It does so by ensuring that an effective organizational structure is put in place and is manned by staff capable of planning, coordinating, implementing, monitoring and evaluating agricultural development programs from time to time. It also ensures that its staff and the farmers are trained to cope with the challenges of the agricultural activities.
Additionally, the Ministry ensures that agricultural problems that impede production are investigated and lasting solutions found, and the farmers are provided the supportive services and the enabling environment to produce.
The Ministry’s core general areas of responsibility will most probably continue to consist of: agriculture, both smallholder and commercial; plantation crops; fisheries; and livestock.
Agriculture’s contribution to the economy is sufficiently important for its recovery to be crucial to Government’s declared goal of changing from a low-income developing country to a middle-income, medium human development country by 2015. In 2007, agriculture contributed 61.5% to the GDP of the country. Principal exports were rubber, US$170.9 million, cocoa and coffee US$1.3 million, others, (gold & diamonds) accounted for US$6.8 million
In 2006/2007 a comprehensive assessment of the Agricultural sector in Liberia (CAAS-LIB) was conducted to identify the problems, constraints, challenges and opportunities of the sector and to make recommendation for the way forward. The completed assessment identified the problems and constraints in the sector, which have direct linkage with the low nature of productivity of the sector and food insecurity in most parts of the country. The CAAS-LIB recommended among other things the formulation of an agricultural Policy and Strategy document that will guide the actions of the sector over time.
The Food and Agriculture sector is one of the working groups under the economic revitalization pillar of the Poverty Reduction Strategy (PRS), and as such had to develop the Food and Agriculture sector component of a three year National Development Plan that will conform to the Millennium Development Goals (MDGs) of 2015.
In an attempt to achieve these objectives a lot of strategic action plans were formulated to stimulate pro poor agriculture growth, enhance food security and build capacity in the sector.
Click here to read an excerpt of Liberia’s Poverty Reduction Strategy.
Click here to read an excerpt of Liberia’s National Health Plan 2007-2011.
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