Business Investment in Liberia

Before the decline of the economy, which started in the 1980's, there were a number of large companies operating in Liberia. Political instability, and the war years, caused most of them to end operation, or severely cut back their operations.

With the elections of 2005, and the efforts of that elected government, large and small companies are now once again looking at Liberia. Some of them are the old companies that are, or are planning to, reinvest in the Liberian economy.

In the days of yore there was LAMCO, Bong Mining Company, Firestone, LAC, B.F. Goodrich, Mesurado Group, Cavalla Rubber Corporation and CEMENCO, just to name a few. These were names everyone knew. They were the major part of the backbone of the Liberian economy. Added to these, and other large companies, there were dozens of companies making such things as plastics, umbrellas, pottery, cooking utensils, and other commonly used items. Also, there were hundreds of profitable agricultural companies. Most of these large, and small, companies were closed by 1990.

Today, many of these companies are restarting operations. Firestone is looking much like it did in the 1970's, with a hospital and schools, and growing production. Smaller companies, such as DENCO Shipping Lines are growing again.

Also, a number of new major companies are investing in Liberia. Among them are Golden VerOleum (oil palm), ArcelorMittal (iron ore), Equatorial Biofuels, Lonestar Cell, AMLIB United Mineral, and Global Bank Liberia. This group of companies represents several billion dollars in investments over the next few years. These new and re-startup companies are opening up the opportunity for other smaller companies to provide logistics support, office supplies, health care, training of workers, food stuff, air transport, uniforms, general merchandise stores, communications services, internet services, and a host of other opportunities.

The Liberian economy, is making good headway towards a strong recovery. And with the continued progress, and stability, in the political arena, now is the time to take a strong, hard, look at getting involved in business in Liberia. Getting involved now will make for more rapid growth in the future.

written by: Clifton Flemister