Key Competitive Attractions
Liberia is arguably the only country in Africa never to have been subjected to European colonialism. The economy was severely disrupted by civil war from 1989 to 1996, but has been growing significantly since 2005.
The key sectors for economic growth are agro-forestry, mining, and energy. Exports include rubber, timber, oil palm and iron. The country also sits on deposits of gold and diamonds. In addition, Chevron is soon to begin deep-water oil drilling in Liberia’s exclusive economic zone in the Gulf of Guinea.
The country is the world’s second largest maritime licenser, with more than 1,700 vessel registered under the Liberian flag.
Foreign direct investment has grown sharply since 2005. Major investors include Anadarko, ArcelorMittal, BHP Billiton, Repsol, Severstal, Sime, Darby, Vattenfall, and Wysco Steel.
Liberia is member of the Economic Community of West African States (ECOWAS) and the Mano River Union (MRU).
Assistance and Support For New Business Investors
The National Investment Commission (NIC) is the Investment Promotion Agency of Liberia. The commission offers information and assistance to foreign investors and approves investment incentive assistance contracts.
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