With the country’s unemployment rate increasing, President Boakai is appealing to foreign investors to consider Liberia as a destination.
By: Kruah Thompson
Monrovia, Liberia – March 5, 2025 – President Joseph Nyumah Boakai has emphasized the urgent need to attract foreign direct investment (FDI) to generate large-scale employment opportunities for Liberian youth.
Speaking at a cabinet meeting on Monday, March 3, 2025, President Boakai acknowledged that local businesses alone cannot absorb the growing number of unemployed young people in the country.
According to him, bridging the unemployment gap requires strategic concessions and investments that will unlock sustainable job opportunities across the country.
Speaking at the Ministry of Information, Cultural Affairs, and Tourism’s (MICAT) regular press briefing on Tuesday, Information Minister Jerolinmek Matthew Piah reiterated the president’s commitment to job creation but noted that maintaining those jobs is a shared responsibility. “While the government will do its part to create jobs, the people must also do their part in protecting them,” he stated.
According to him, the recent incidents of violence, particularly at mining companies, which resulted in the burning of some company facilities, were deeply concerning.
He stated that due to the destruction, hospitals and schools owned by those companies were forced to shut down, leading to significant job losses.
Therefore, he emphasized that while the government is working to create employment opportunities, citizens must equally work to protect and sustain those jobs.
He made these remarks while providing updates on the President’s ongoing cabinet meeting.
The cabinet meeting focused on reforms in critical government sectors, including the rule of law, security, education, healthcare, infrastructure development, donor funding, and road rehabilitation. Minister Piah noted that these efforts aim to strengthen governance and drive national development.
However, Minister Piah revealed that one major area of concern highlighted during the meeting was airport security.
According to him, the president has also prioritized strengthening security at the airport to curb mineral trafficking.
He further warned that Liberia’s international airport could face sanctions if it does not maintain global safety standards.
Additionally, he says the President at the meeting also called for full transparency in ongoing investigations into corruption and mismanagement cases and urged that they be concluded swiftly.
Regarding international aid, Minister Piah disclosed that the U.S. Agency for International Development (USAID) has reduced funding to Liberia, impacting critical sectors such as education and healthcare.
He says the USAID cut has particularly affected the HIV/AIDS program, which provides essential medication for people living with the disease.
“The drugs are not meant to be paid for, but the AIDS Commission is now struggling due to low budgetary support after the USAID cut,” Piah explained. He noted that the commission has engaged the president on the issue, emphasizing the need to find solutions that will prevent the funding shortfall from worsening conditions for those affected.
Despite the USAID cut, he noted that Liberia continues to receive significant aid. The country’s overall donor portfolio stands at approximately $500 million, of which USAID contributed around $87 million.
However, he reassured the public that the government is exploring alternative funding sources to offset the shortfall.
Minister Piah narrated that during the meeting, the Liberia Revenue Authority (LRA) informed the president that efforts to increase domestic revenue collection could help mitigate the impact of reduced donor funding.
“If the LRA meets its target and increases the national budget to $1.2 billion, it could help cover the gap left by the USAID suspension,” he added. -Edited by Othello B. Garblah.
