Sierra Leone is investment-friendly – President Bio told investors at the Turkey-Africa Partnership Summit

Sierra Leone Telegraph: 21 December 2021:

President Bio last weekend presented a strong case for investment opportunities in Sierra Leone at the third Turkey-Africa Partnership Summit, a two-day conference, hosted by President Recep Tayyip Erdoğan to launch a new stage in Turkey’s relations with the African Union and African countries.

“We have put in place investment-friendly tax incentives and policies; streamlined processes for expediting the establishment and protection of the interests of credible investors; and we offer diverse opportunities in agriculture, fisheries, tourism, infrastructure, manufacturing, energy, and mining to Turkish businesses.

“Turkish businesses will continue to be favourably considered for various investment portfolios. We will spare no efforts to make the business ecosystem ever more conducive to attract more Turkish capital and for those companies to maximise returns on their investment,” he assured.

President Bio also recalled that since 2018, Sierra Leone and Turkey had entered a new era of heightened diplomatic relations with the establishment of Embassies in both Freetown and Ankara, saying that this is  a bold step forward the two countries have taken to consolidate and deepen their warm bilateral ties and cooperation in several areas.

“Excellencies, distinguished ladies and gentlemen, at the national level, Turkey was, for years, a member of the Sierra Leone configuration of the United Nations Peace-building Commission and Turkey has continued to provide development assistance to Sierra Leone in various areas through the Turkish Cooperation and Coordination Agency.

“Permit me, Your Excellency, President Erdogan, to express Sierra Leone’s profound gratitude for Turkey’s continued support and unfailing interest in the Government and people of the Republic of Sierra Leone. Equally important, Your Excellency, the Government of Sierra Leone acknowledges and commends the activities of Turkish institutions and businesses in various sectors in Sierra Leone. We are committed to further heightening the growing economic and trade ties between our two countries,” he said.

The President also outlined progress in consolidating peace and democracy, ruling justly, and investing in people, adding that his development aspirations are outlined in his government’s comprehensive Medium-Term National Development Plan that is also aligned with both the 2030 Agenda for Sustainable Development of the United Nations and the 2063 Agenda of the African Union.

“We believe that a skilled, healthy, and productive population is a critical enabler of sustainable and inclusive development. Ours is a commitment to do right by our people and we will continue implementing the right reforms that prime Sierra Leone for sustainable development.

He closed by expressing hope that the number of agreements, protocols, and Memoranda of Understanding signed and ratified with the Republic of Turkey would further strengthen and operationalise mutual cooperation.

President Bio is among some 16 African Heads of State attending the summit, including Félix Tshisekedi, current chair of the AU, Senegal’s Macky Sall, Ghana’s Nana Akufo-Addo, representing Ecowas, Rwanda’s Paul Kagame, Zimbabwe’s Emmerson Mnangagwa and Muhammadu Buhari of Nigeria. They are accompanied by 102 ministers, including 26 foreign ministers, from 39 countries.

You can read the President’s full speech here:

Sierra Leone is investment-friendly – President Bio told investors at the Turkey-Africa Partnership Summit

2 Comments

  1. Most of our citizens respect President Bio for his frankness and honesty when he recently promised that “ For the benefit of our country to attract investors, he will continue to FLY”. Thanks to the almighty for his presence in this important investment meeting in Turkey. Thankfully, the Turks are one of our closest investment partner based on the fact that they are in the process of extending our Lungi Airport which analysts believe will be one of the best in our region with the capacity to accommodate up to a million passengers. I hate to repeat that former President Koroma had the opportunity as her Liberian counterpart former President Helen Johosom-Sirleaf who within 10 years constructed a New Airport, but unfortunately the lifetime leader of the APC only promised during the 2018 presidential elections about building a new Mamama Airport.

    Thankfully President Talk and Do Bio has fulfilled his promise in 3 years. I hope and pray that he will also convince Turkish investors who will soon be running our Ferries and the Tagrin, Kissy and Government Wharf terminals, to also invest in the Lungi Bridge project.
    Finally, I hope that we will also signed a defense agreement with Turkey which is a member of the North Alliance Treaty Organization (NATO), which will help boast our defense.

  2. There are plenty of investment opportunities in Sierra Leone. Naturally our country has a lot going for us. With the right political leadership, and investing in people, education and training, our country will lip frog majority of our West African neighbours to become an economic super power in the region that everyone will look up to as a beacon of hope and prosperity. , We have the human and natural resources.We have the English language in a region dominated by French speaking countries. Majority of business is conducted in the English language, so that is a huge advantage for our country. The young and diverse population is a plus. All we need to do is to invest in them. Because, when it comes to foreign direct investment, the first things, investors are looking for is how secure is the country.As a nation are we at peace with each other?

    If the country is faced with security challenges, chances are, the rule of law, and the respect to private property cannot be guaranteed. Looking at the West African region, it will take a brave investor with dip pockets, to want to invest in Boka Haram infested territory in Northern Nigeria, or the Sahel region, Mali, Bokina Fasso etc . So when Bio talks of investment opportunities, he is 100% right. But whilst he is selling Sierra Leone as a good place to come and invest, he is also blunting his message by arresting opposition leaders for flimsy excuses .Bio is the filp flopping President. Dr Blyden, and Rt Marjor poaulo conteh in 2020.Dr Samura Kamara, Dr.Bright and Mrs Cole in 2021.Naturally people are happy to cover the bad stories than the good stories that comes out of any African country.

    So if you are a British, American, Korean, Chinese, Turkish, Indian or European foreign investor that wants to invest in Sierra Leone, you visit any of this countries foreign ministry advice on Sierra Leone, you might have second thoughts. Bio needs to be consistent, and stop the mix messaging. You want foreign investors, or even Sierra Leoneans in the Diaspora to invest in our country, you need to put your acts together. Repect the rule of law, free speech, free press, stop detaining people for reasons best known to you.

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