IMPLEMENTATION OF THE LIBERIANIZATION POLICY UNDER THE LIBERIAN INVESTMENT ACT OF 2010
The Ministry of Commerce and Industry (MOCI), on behalf of the Government of Liberia and under the leadership of the Presidential Committee on Price & Economic Contradiction chaired by the Vice President of the Republic of Liberia, wishes to inform the public that the Government has commenced the enforcement and implementation of the Liberianization Policy as provided for under the Liberian Investment Act of 2010.
In line with the law, certain business activities in Liberia are exclusively reserved for Liberian citizens and Liberian-owned businesses. The Government has observed with serious concern the increasing participation of non-Liberians and foreign-controlled entities in businesses legally reserved for Liberians, thereby undermining local enterprise development, job creation, and national economic empowerment.
Accordingly, the Ministry hereby gives notice that all non-Liberian individuals and foreign-owned businesses currently operating within the reserved business sectors are required to immediately regularize their operations and begin withdrawing from such sectors within thirty (30) days from the date of this announcement.
Following the expiration of the 30-day period, the Government of Liberia, through the Ministry of Commerce and Industry and relevant enforcement institutions, shall commence nationwide inspections and enforcement actions, including:
- Closure of non-compliant businesses;
- Revocation of business licenses and permits;
- Fines and penalties consistent with the law; and
- Other lawful enforcement measures.
The Ministry further calls on all Liberian citizens to take advantage of the opportunities created under the Liberianization Policy to expand their participation in the national economy.
The Government remains committed to promoting economic inclusion, strengthening Liberian-owned businesses, and ensuring full compliance with the laws of Liberia.
For additional information or clarification, please contact the Ministry of Commerce and Industry.
