Gov’t Nets US$500m Investment Package

The President Pro-tempore of the Liberian Senate, Nyoblee Karnga-Lawrence has concluded a meeting with Mr. Zhang Hui (Hardy), President of the Hidier Group International Holdings Limited, and his team.

According to Pro-tempore Karnga-Lawrence, the company has expressed keen interest in the development of the Monrovia Industrial Park (MIP), a vital component of the country’s economic growth strategy.

“Mr. Hardy shared that his group has earmarked a substantial investment portfolio of US$500 million for the MIP project over the next decade. With a successful track record of operating industrial parks in Nigeria, hosting numerous foreign companies and providing hundreds of jobs for locals, their expertise and commitment are commendable,” the Pro-tempore further disclosed.

She furthered, “During our discussion, I directed them to engage with the National Investment Commission (NIC), the appropriate government entity for such endeavors. It’s crucial that all foreign direct investment interests are channeled through the NIC to ensure proper vetting and alignment with national development goals.”

She added that what’s particularly intriguing about their plan for the MIP is the innovative approach to providing electricity. “Similar to their operations in Nigeria, they plan to build a power plant that will supply electricity to all companies within the industrial park, as well as other high-power users within a 10KM radius. This initiative will significantly reduce reliance on diesel and other costly sources, promoting sustainability and cost-effectiveness,” Pro-tempore Karnga-Lawrence added. “I’m excited about the potential this partnership holds for Liberia’s economic prosperity and look forward to seeing the Monrovia Industrial Park flourish under their leadership. Stay tuned for further updates on this transformative project,” she concluded.