Special Economic Zones (SEZs) Development
Towards promoting and accelerating economic growth and national development, the Government enacted in 2017 a law to create a Liberia Special Economic Zone Authority (LSEZA). When established, the Authority will create and regulate Special Economic Zones (SEZs) across the country to facilitate the attraction of domestic and foreign investment capital.
Within each SEZ, the Authority will provide a One-Stop-Shop for business registrations and the issuance of licenses, permits, and approvals, as well as the collection of taxes and fees.
The SEZ law sets forth the rights, obligations of licensees, developers, and operators that will be in SEZs. The law provides for special tax and incentive regimes towards attracting both domestic and foreign investments. Implementation of international customs standards will be required. The exchange and transfer of funds from activities of SEZ licensees, developers, and operators will be permitted.
Currently, approximately 500 acres of land have been earmarked around the Port of Buchanan for the development of a Special Economic Zone.