Liberia Special Economic Zone Authority (LSEZA) has disclosed that the key investment subsectors are intended to think trade, attract investment and create job opportunities for Liberians.
According to the Executive Chairman of LSEZA, Prince A. Wreh, research indicates that rubber, oil palm, cocoa and fisheries value chains have the potential to provide jobs and improve livelihoods of 450,000 additional people in the economy by 2030 in a sustainable way.
Chairman Wreh made the disclosure Tuesday at the Center for Intellectual Exchange of Opinions (CIEO) in Monrovia as LSEZA create awareness for key subsectors investment.
He pointed out that rubber is the country’s number one foreign exchange earner and cocoa is Liberia’s second most important export crop.
He noted that together with oil palm and fisheries, they create opportunities for industrial growth and enhance wealth creation.
Chairman Wreh stated that rubber is the most important cash crop in Liberia, and it is estimated that a little over 200,000 hectors of rubber have been planted in Liberia, which over 65,000 are industrial estates and 130,000 are small and medium size private farms.
According to him, the rubber industry generated approximately US$218 million in revenue in 2007 but declined to US$178 million in 2011. However, it creates a steady stream of employment and supports the livelihoods of thousands of smallholder farmers.
He indicated that oil palm is an essential tree crop for smallholder, and it is estimated that there may be about 27,000 hectares of medium to large oil palm plantations which approximately 17,000 ha are state owned plantations while smallholder farms represent another 75,000 hectares.
Chairman Wreh revealed that Liberia’s fisheries sector, which includes an established marine fishery involving industrial and artisanal fishing activities and an island fishery that is exclusively artisanal, provides employment for about 37,000 fishermen and processors and contributes significantly to nutrition in terms of protein intake, making it of importance locally.
