29 Jan Interview with Hon. Prince A. Wreh, Executive Chairman of Liberia Special Economic Zones Authority (LSEZA), Liberia
What has been the vision behind LSEZA’s establishment, and how does the Authority aim to transform Liberia into a hub for trade and investment?
In 1975, under President William Tolbert, Liberia aimed to build a strong industrial sector and attract foreign investment. This led to the creation of the Monrovia Free Zone, focusing on import, export, and diversifying beyond iron ore and minerals into agriculture and aquaculture. From 1975 to 1980, GDP growth and job creation were notable, but the civil war halted progress.
In October 2017, under President Ellen Johnson Sirleaf, legislation formally established LSEZA. While it was not fully operational under subsequent administrations, President Joseph Boakai recognized SEZs as a key engine for economic growth, foreign investment, and job creation. In April 2024, I was nominated as the first Executive Chairman. Since then, we have focused on implementing the law and building a platform that extends beyond any single administration.
Our vision aligns with the ARREST Agenda, particularly pillar two, which emphasizes opening investment corridors, developing low- and medium-skill manufacturing, and adding value to Liberia’s key sectors—rubber, coffee, cocoa, palm, and aquaculture.
How does LSEZA work with investors to ensure a business-friendly environment while maintaining compliance with national laws and standards?
Partnership is our guiding principle. LSEZA offers a clear regulatory framework with approved incentives for developers, investors, and operators. Companies in our zones benefit from a 25-year renewable investment term, 100% exemption from input duties, and a 5% SEZ tax—fully documented and government-approved.
Our goal is to provide an enabling environment. Liberia has enjoyed 20 years of peace and political stability, rare in the region. Combined with our incentives, this makes the country an attractive destination for international investors.
How is LSEZA developing Infrastructure and logistics assets to support industries and encourage both local and international companies to establish operations in Liberia?
A key focus is improving port access so investors can efficiently export their goods. Our ports now operate 24/7, supporting the goals of LSEZA. We actively encourage public-private partnerships and provide infrastructure, internal routes, and reliable electricity, now supported in the national budget.
What measures has LSEZA implemented to simplify licensing, approvals, and operational requirements for businesses in the economic zones?
We’ve developed implementing regulations to streamline the investor experience, creating a true one-stop shop. In partnership with the National Investment Commission (NIC) and relevant ministries, we provide electronic and in-person platforms where all government services – permits, taxes, and documentation – can be handled under one roof, specific to each economic zone.
How does LSEZA ensure that local communities benefit directly from investment in the economic zones?
Our mandate goes beyond designating economic zones—we focus on creating jobs through capacity building and Technical and Vocational Education and Training (TVET) for local communities. We prioritize empowering women and youth, ensuring they have access to skills development and opportunities to improve livelihoods.
For American investors and global companies exploring opportunities in Liberia, what message would you share about the potential of the country’s economic zones?
Liberia has a longstanding relationship with the United States, including economic ties through the AGOA Treaty, which benefits Sub-Saharan countries like ours. In July, we met with former U.S. Ambassador Toner to discuss renewing the treaty, with updates expected by September. In 2024, Liberia-US trade totaled $620 million. With a youthful workforce and a government committed to protecting investments, Liberia is open – and serious about business. We encourage American investors to explore the opportunities our country offers.
Looking ahead, what is LSEZA’s long-term vision for Liberia’s special economic zones, and how do you see the Authority contributing?
My vision has two parts: supporting the president’s agenda for Liberia’s success and, as the authority’s leader, building a long-term, investor-friendly environment that drives business growth and transformation for our people. We see great potential in sectors like tourism, particularly eco-tourism, and aim to partner with the Tourism Authority to responsibly develop economic zones that attract diverse investors. Our long-term vision aligns closely with the government’s transformational agenda.