Senate Concurs With HoR on Liberty Investment Incentive Agreement

The Plenary of the Liberian Senate has concurred with the House of Representatives on the passage of the Investment Incentive Agreement between the Republic of Liberia and Liberty Investment Limited.

The decision by Plenary is predicated upon a report from the Joint Committee on Concessions & Investment and Judiciary, Human Rights, Claims & Petitions, recommending concurrence.

The Liberty Investment Limited is an Agreement for the period of 15 years with an investment portfolio of Twenty-Five Million United States Dollars (US$25,000,000) and will be located at Red Hill Community, Brewerville City, Montserrado County, Liberia.

According to the Joint Committee’s report, subject to the terms of the Agreement, the Investor shall construct, develop and operate Beverages and Packaging Production Materials Plant in accordance with applicable laws and standards on the basis of the development plan presented to the National Investment Commission and is to produce products such as Natural mineral water (bottle water), Carbonated drinks including soft drinks, malt, energy drinks and different types of alcoholic beverages that are legally acceptable for human consumption.

The Committee in its report stated that having assessed the immense benefits that Liberia as a nation and its people stand to accrue from the ratification of the Agreement, it is prudent that the Senate concurs with the House of Representatives on the ratification of said Agreement.

Accordingly, based on the Joint Committee’s report, Plenary voted to concur with the House of Representatives on the passage of the Investment Incentive Agreement between the Government of Liberia and Liberty Investment Limited.

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