Senator Amara Konneh write .Today, we urged the Senate Plenary to review investment incentives, a critical fiscal and economic tool.

Senator Amara Konneh write .Today, we urged the Senate Plenary to review investment incentives, a critical fiscal and economic tool.

In the aftermath of Liberia’s prolonged conflict, which led to a significant economic collapse over twenty years ago, various administrations have implemented investment incentives—such as tax exemptions and royalty reductions—to attract foreign direct investment and support recovery. These measures have stimulated investment, created some jobs, and strengthened the mining, agriculture, forestry, and energy sectors.

As a country, we stand at a pivotal juncture in our development journey. The global economic landscape is experiencing significant and often unpredictable changes, bringing uncertainties related to bilateral and multilateral financial institutions, trade policies, and the overall trajectory of global capitalism, in which every country is looking inward by leveraging our natural endowments, ensuring our investment incentives and fiscal policies support our development agea and are adaptable to the evolving circumstances.

To address these issues proactively, we propose that the Senate Plenary hold a formal review session to evaluate the effectiveness of Liberia’s investment incentive frameworks today compared to two decades ago. We need a new framework that supports our current realities.

We thank the President Pro Tempore for elevating this issue.