The Daily Observer welcomes President Weah’s appointment of a Steering Committee to ensure the establishment, with immediate effect, of a Special Economic Zone (SEZ) in Buchanan, Grand Bassa County. The Daily Observer however notes that this is not the first time that an SEZ has been established in Liberia. History recalls that the Liberia Industrial Free Zone Authority was first established by an Act of Legislature in 1975 with the objectives of attracting foreign investment promoting exports, increasing employment, and improving industrial technology through the establishment and operation of an Industrial Free Zone. The Act establishing the Free Zone Authority provided for the Zone to be customs free, and specifically stated that customs control will be withdrawn to the fenced-around boundaries of the entire area of the Industrial Free Zone and it was established with a substantial degree of autonomy. It is perhaps in recognition of the critical role that a Special Economic Free Zone could play in the country’s economic development that President Weah has commissioned the establishment of a Special Economic Free Zone(SEZ).

Source: Daily Observer April 15, 2019 02:15 UTC