Magazine article International Trade Forum

New Trade and Investment Agency in Sierra Leone

Magazine article International Trade Forum

New Trade and Investment Agency in Sierra Leone

Article excerpt

In its post-war efforts to revitalize exports, Sierra Leone has set up a new trade promotion authority, the Sierra Leone Investment and Export Promotion Agency.

The initiative is part of a larger reform process to make it easier to do business in Sierra Leone, supported by the World Bank, ITC and the Government of the United Kingdom. Tax and land registration reform, simpler business start-up procedures and better customs administration are also on the agenda.

The new agency aims to raise awareness in the international community about Sierra Leone, as both a producer and an investment destination. It will focus on improving the quality of traditional exports and look into new export sectors. This will now be matched by expertise to guide investment decisions.

"This is part of a general effort to improve the business climate, remove bureaucratic hurdles and increase transparency," said Philip Williams of ITC, a member of the team working to set up the new agency.

The success in creating the agency, he adds, is due to its champion, Dr Kadi Sesay, the Minister of Trade and Industry, whose efforts have been backed up by a team from ITC and the World Bank's Multilateral Investment Agency (MIGA) and Financial and Investment Advisory Service (FIAS). …

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