The Plenary of the Liberian Senate concurs with the House of Representatives on the passage of the Investment Incentive Agreement between the Republic of Liberia and Jeety Rubber LLC.
The Senate concurrence was triggered by a motion from Montserrado County Senator Abraham Darius Dillon.
In its report to the Body, the Joint Committee on Concession and Investment, Judiciary, Human Rights, Claims and Petitions as well as Agriculture, Fishery and Forestry informed Plenary that the People of Liberia will accrue many benefits from the Agreement when ratified.
According to the Joint Committee, the implementation of the Agreement will raise additional revenue for the consolidated account of Liberia as well as open more employment opportunities for Liberians.
The report highlighted that a processing plant will serve as motivation for other investors in the country to establish similar value-added projects and bring needed development in the concession area.
Accordingly, other benefits contained in the Agreement are health and educational programs in affected communities, including scholarships for students.
At the same time, the Agreement says the company shall occupy the total land space of 222.3 acres located in Gborplay Town, District #5, Margibi County with a lifespan of 15 years which is subject to renewal based on mutual consent of parties involved.
The Investment Incentive Agreement between the Government of Liberia and Jeety Rubber LLC was submitted to the Senate by President George Manneh Weah during the 15th day sitting of the special sitting of the Senate on Thursday, December 14, 2021, for ratification.