The Republic of Liberia has signed seven Memoranda of Understanding (MOUs) with Korean multinational companies during President Joseph Nyuma Boakai, Sr.'s visit to South Korea. These agreements, facilitated by the National Investment Commission, the Ministry of Foreign Affairs, and the Ministry of Agriculture, aim to enhance key sectors such as agriculture, food production, energy, water supply, and financial investment.
The MOUs include initiatives for developing solar energy power plants to strengthen the energy sector, investing in agricultural research to boost food productivity and seed development, and supplying prepaid meters to improve access to water. Additionally, these agreements encompass significant investments in the financial sector and job creation ventures.
The involved companies include Daehan Smart Meter Co., Samdo Electric Energy, Korea-Agro Fisheries and Food Trade Corporation, Korea SOiVA R&D, the Africa-Korea Economic Development Association, and the MAKE Group. These entities are committed to contributing substantially to Liberia's development.
Minister of Foreign Affairs Sara Beysolow Nyanti expressed confidence in the delegation's engagement and highlighted that these MOUs resulted from preparatory meetings and business roundtables led by her ministry. She emphasized the government's commitment to implementing these agreements successfully and thanked Korean business leaders and the government for their support.
President Boakai reiterated his dedication to improving Liberians' livelihoods. He believes that once implemented, these memoranda will create job opportunities and positively impact citizens' lives while positioning Liberia as a key investment and tourism destination.
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