Press Statement / 06/08/2024

President Joseph Nyuma Boakai, Sr.’s visit to the Republic of Korea has led to a significant milestone as the National Investment Commission, the Ministry of Foreign Affairs, and the Ministry of Agriculture have signed seven Memoranda of Understanding with Korean multinational companies.

These agreements are poised to bring about substantial improvements and developments in key sectors.

Upon implementation, these MOUs will ensure a more robust and reliable energy sector through the provision and development of solar energy power plants, investment in agricultural research to enhance food productivity and seed development, and the supply of prepaid meters to facilitate easy and unhindered access to water supply.

Additionally, these MOUs involve significant investments in the financial sector and job creation ventures, among several other impactful initiatives.

The involved companies, including but not limited to, Daehan Smart Meter Co., Samdo Electric Energy, Korea-Agro Fisheries and Food Trade Corporation, Korea SOiVA R&D, the Africa-Korea Economic Development Association, and the MAKE Group, are aligned and committed to making a substantial difference.

Speaking on behalf of the Liberian Government, the Minister of Foreign Affairs and Dean of the Cabinet, Madam Sara Beysolow Nyanti, has conveyed unwavering confidence and enthusiasm in the robust engagement of the delegation as these were also an outcome of the preparatory meetings and the business and investment roundtables led by the Foreign Minister.

This underscores the promising potential of the signed memoranda and the government’s commitment to their successful implementation. Minister Beysolow Nyanti also expressed profound gratitude to the Korean business leaders and the government of Korea for their indispensable support throughout the process.

In separate remarks, President Boakai has reiterated his steadfast commitment to improving the livelihood of the Liberian people. He firmly believes that once implemented, the signed memoranda will not only create job opportunities and positively impact the livelihood of the citizens but will also open up the country to promising opportunities, ultimately establishing Liberia as a key investment and tourism destination.