Liberia and Korean Multinationals Sign Seven Key Agreements for Sector Improvements
Seoul, South Korea – President Joseph Nyuma Boakai, Sr.’s recent visit to the Republic of Korea marked a significant milestone as Liberia’s National Investment Commission, Ministry of Foreign Affairs, and Ministry of Agriculture signed seven Memoranda of Understanding (MOUs) with prominent Korean companies.
Key Highlights:
- Energy Sector Enhancement: The MOUs focus on strengthening Liberia’s energy sector. Solar energy power plants will be developed, ensuring a more reliable and robust energy supply.
- Agricultural Research and Food Productivity: Investment in agricultural research and seed development aims to enhance food productivity, benefiting both farmers and consumers.
- Water Supply Accessibility: Prepaid meters will facilitate easy and unhindered access to water supply, addressing a critical need for Liberians.
- Financial Sector Investments: The agreements involve substantial investments in Liberia’s financial sector, fostering economic growth and stability.
- Job Creation Ventures: The MOUs also support job creation initiatives, contributing to livelihood improvements for citizens.
Committed Companies: The involved companies, including Daehan Smart Meter Co., Samdo Electric Energy, Korea-Agro Fisheries and Food Trade Corporation, Korea SOiVA R&D, the Africa-Korea Economic Development Association, and the MAKE Group, are aligned in their commitment to making a substantial difference.
Government’s Confidence and Gratitude: Minister of Foreign Affairs and Dean of the Cabinet, Madam Sara Beysolow Nyanti, expressed unwavering confidence in the delegation’s engagement. She emphasized the promising potential of the signed memoranda and thanked Korean business leaders and the Korean government for their indispensable support.
President Boakai’s Vision: President Boakai reiterated his commitment to improving Liberians’ livelihoods. He believes that successful implementation of these agreements will not only create job opportunities but also position Liberia as a key investment and tourism destination.
