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Saudi Investors Set to Attend Sierra Leone Conference

Saudi Investors Set to Attend Sierra Leone Conference

Sierra Leone’s Ambassador to the Kingdom of Saudi Arabia has catalogued some of his country’s growing potentials to investors in Riyadh, the Kingdom’s capital.

Ambassador Alhaji M.S Kargbo told them about the opportunities his country can offer and also informed them about the upcoming Seventh Consultative Group meeting on Sierra Leone scheduled to take place at the conference center of the Radisson Blu Mammy Yoko hotel in the capital, Freetown from 18th -19th June 2014.

The meeting will be jointly hosted by the Government of Sierra Leone and one of its development partners, the African Development Bank.

Ambassador Kargbo said: “My country is open to investments in the areas of tourism, energy, agriculture, marine resources, fisheries, mining, telecommunication, aviation, infrastructure, to name but a few.”

The envoy said the Sierra Leone Government has been focusing on improving the investment climate by streamlining tax administration, enacting flexible business laws and cutting red tape, adding that his country has extra-ordinary potentials which he encouraged them to explore. He also assured them of the improved security situation in the country.

President Koroma’s envoy also disclosed that His Royal Highness Prince Alwaleed Bin Talal Bin Abdul-Aziz Alsaud, Chairman of Kingdom Holding Company (KHC), one of the world’s unrivalled international and most successful diversified investment holding companies has consented to send his Ghana based West Africa representative to attend the Seventh Consultative Group meeting.

Speaking on the telephone line from Freetown last night, a senior official at the Ministry of Finance and Economic Development said the Seventh Consultative Group meeting will be a forum to formally present President Koroma’s Agenda for Prosperity to development partners and highlight bankable investment opportunities to the Private Sector.

The Agenda for Prosperity focuses on diversifying the economy, improving accountable and transparent management of natural resources, promoting human development and youth employment, empowering women, and investing in sustainable and transformative infrastructure.

It would be recalled that the Government of His Excellency, Dr. Ernest Bai Koroma, through extensive nationwide consultations, developed the third generation Poverty Reduction Strategy, the Agenda for Prosperity 2013-18, as the country’s first five year plan to achieve middle income status by 2035.  Key potential investors from around the world are expected to attend.

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