How Boakai’s Plan for FDI Aligns with Benefits of AML Expansion Deal

MONROVIA: President Joseph N Boakai Sr.’s inauguration marked a pivotal moment for Liberia as a nation with so much troubled history.

On Monday Mr. Boakai became president after he and Vice President Jeremiah K. Koung took the oath of office before foreign and local guests at the Capitol Building in Monrovia.

While presenting his inaugural address President Boakai emphasized a commitment to open the country to legitimate business aligning with the national development agenda of Liberia.

Boakai stressed the importance of wealth creation, increased productivity, and active Liberian economic participation.

In line with Boakai’s vision, ArcelorMittal Liberia (AML) embraces the same idea and ethos of responsible foreign direct investment (FDI).

AML’s expansion project aligns with Boakai’s ideals, which focus on fostering a partnership that not only focuses on mining but also prioritizes comprehensive development.

ArcelorMittal Liberia’s investment plan spans beyond profit, aiming to contribute significantly to the economic prosperity of Liberian citizens.

Boakai’s emphasis on growth tied to development found resonance in AML’s commitment to community development all in the communities affected by its mining and logistics operations.

The company recognizes that sustainable growth involves empowering local communities not just with projects but with credible skills that can yield long-term prosperity.

AML’s investment plan includes initiatives for education, healthcare, and infrastructure, ensuring a holistic approach that aligns with Boakai’s equitable growth principle as articulated in his speech.

In its expansion proposal, AML demonstrates a commitment to increasing social development, acknowledging that the success of the mining industry should translate into improved living standards for the Liberian people.

By investing in social programs, AML aimed to create a positive impact that aligns seamlessly with Boakai’s vision for inclusive growth.

Central to the business portion of Boakai’s inauguration statement was the call for Liberians to actively participate in building their country.

AML embraces this notion by prioritizing the training of Liberian staff, and through the company’s investment plan which is focused on skill development, empowering the local workforce to actively contribute to Liberia’s mining industry.

Boakai’s vision also resonates with AML’s commitment to avoiding profitability that does not translate into general economic prosperity.

AML knows the importance of ensuring that the benefits of mining activities extend to the broader population, aligning perfectly with Boakai’s call for equitable growth.

In a bold move, AML has outlined its total payment to the Liberian government as part of its investment plan in a transparent financial commitment that not only adheres to Boakai’s stance on profitability but also showcased a responsible approach to foreign investment, contributing to Liberia’s economic stability.

A crucial element of AML’s expansion project was its dedication to putting Liberia back on the map as a key mining country in Africa.

Boakai’s call for the country to be built by Liberians with the help of others found embodiment in AML’s efforts to position Liberia as a significant player in the mining sector, attracting global attention and investment.

So far, the alignment of President Joseph N Boakai Sr.’s vision on FDI with ArcelorMittal Liberia’s expansion project is evident in the comprehensive nature of AML’s investment plan.

From community development and social initiatives to local staff training and transparency in financial contributions, AML’s actions underscore a commitment to Boakai’s principles, ultimately fostering Liberia’s growth and prominence in the mining industry.

1 Comment
  1. E Massoud says

    FDI should be in line with AML building steel factories to produce steel sheets, steel rods etc made in Liberia as a recognized brand and Pellet and Washing Plants in addition to the Concentrator plant . This will turbo boost the economy and create countless jobs and increase skill workers training. Everything else is just commentary and fancy talk.

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