EU Delegation Meets with European Companies operating in Liberia

In support of improvement to the business and investment climate in Liberia, the EU Delegation held an informal session with European Companies operating in the country.

During the discussion, representatives of the EU Delegation and EU Member States (Germany, Sweden) in Monrovia listened to the companies' impressions on the prevailing business climate in the country and how the EU Delegation and EU Member States can better supports efforts aimed at fostering an enabling business and investment environment for private sector development, broad-based economic growth and job creation.

The EU Delegation supports the improvement of the business and investment climate in Liberia, by providing expert advice and by maintaining an active political dialogue with all parties concerned, together with EU Member States.

In this informal discussion, the EU Delegation presented the main outcomes of the 2019 World Bank Doing Business for Liberia and findings of recent business and investment climate studies on Liberia. The EU Delegation also informed representatives of EU companies about the EU External Investment Plan (EIP, http://ec.europa.eu/commission/eu-external-investment-plan_en) that can help Liberia address the most significant obstacles and challenges to improve the business and investment climate in the country.

EU companies operating in Liberia presented their views on the main constraints and challenges they face in their activity, as well as opportunities and recommendations for action.

In his remarks, the Chargé d;affaires a. i. of the EU Delegation, Juan Antonio Frutos, said, "An enabling business and investment climate is a necessary pre-condition for private sector development, economic growth, and job creation. We, the EU, believe that an enabling business and investment climate in Liberia is crucial, to diversify and expand the economy, to foster a broad-based economic growth, that can generate the much needed jobs and income for the Liberian people, and also internal revenue for the State to fund its development agenda. The EU has identified the improvement of the conditions for doing business and fostering economic growth as a critical area for EU support in Liberia. The EU and its Member States are already supporting Liberia in this field. This support targets infrastructure (electrification and roads), education and TVET, economic governance and access to finance. The EU Delegation has developed a European Economic Diplomacy (EED) Action Plan, and we will continue to support the Government to foster an enabling business and investment climate, which provides the right conditions for private sector development. "

The companies in attendance expressed their gratitude to the EU Delegation and asked for the repeat of such gathering.