Liberia Urges Investors to Create Jobs Through Local Production

Liberia is urging local and foreign investors to move beyond trading and exporting raw materials and invest in local production, manufacturing and agro-processing to create jobs and expand economic opportunities.

Acting Commerce and Industry Minister Stephen M. Yekeson, Jr. says the country’s next stage of economic growth will depend on its ability to process more of its natural resources at home, produce goods it currently imports, and build stronger local businesses around major investments.

Speaking at the Seventh Biennial Prosperity Africa Conference and Liberia Investment Forum in Monrovia on Tuesday, October 20, Yekeson identified agriculture, manufacturing, energy, infrastructure and digital services as key areas for investment.

He said Liberia’s growing economy presents opportunities for businesses willing to invest in production and build long-term partnerships with Liberian enterprises.

“The economics of tomorrow will not reward countries that only export raw materials,” Yekeson said. “It will reward countries that add value, that move goods and money quickly and cheaply, and that make rules businesses can plan around.”

The minister pointed to Liberia’s continued dependence on imported food as an opportunity for investment in rice milling, cassava and palm processing, packaging and cold-storage facilities.

He also called for greater investment in processing the country’s iron ore, gold and timber locally, arguing that stronger domestic industries could help retain more economic value in Liberia and expand employment opportunities for citizens.

Yekeson said investments in mining and other major sectors should create opportunities for Liberian businesses through local supply contracts, joint ventures, skills transfer and greater participation in production and distribution.

He also highlighted the need for investment in electricity generation, transportation and port infrastructure, saying unreliable and costly services remain important challenges for businesses seeking to operate and expand.

According to the minister, Liberia’s economic growth must translate into broader private-sector development rather than remain concentrated in a few industries.

He cited a June review by the International Monetary Fund that projected real gross domestic product growth of 5.5 percent for Liberia in 2026, driven largely by mining and supported by manufacturing and construction.

However, Yekeson acknowledged that economic stability alone would not transform the country, pointing to the dominance of small, informal businesses and the limited processing of locally produced raw materials.

He said the government intends to improve the business environment by simplifying trade procedures, expanding access to business training and finance, strengthening market regulations and making commercial information more accessible to investors.

The minister also called for stronger regional trade, saying Liberia’s participation in the African Continental Free Trade Area and the Economic Community of West African States could give businesses access to markets beyond the country’s borders.

He urged investors and business leaders attending the forum to establish concrete commercial agreements and integrate Liberian companies into regional supply chains.

“A factory in Liberia is not a factory for five and a half million people,” Yekeson said, adding that regional and continental trade arrangements offer access to a market of more than one billion people.

He further emphasized the importance of electricity and workforce development, calling for stronger partnerships between businesses and training institutions to ensure Liberians acquire the technical and digital skills employers need.

The Seventh Biennial Prosperity Africa Conference and Liberia Investment Forum brought together government officials, business leaders, investors and representatives of chambers of commerce from across Africa and beyond.

Held under the theme “Innovation in Business Leadership and the Economics of Tomorrow,” the forum seeks to strengthen business connections and promote trade and investment opportunities across the continent.

Yekeson said Liberia was prepared to work with investors but stressed that investment must be supported by predictable regulations, fair market practices and reliable government institutions.

He called on businesses to take a long-term approach to investing in Liberia, partner with local enterprises and prioritize projects that generate employment and expand domestic production.