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Sierra Leone Investment Forum

23 March 2006

Investors are being invited to Sierra Leone for a first-ever global investment forum since the end of years of civil conflict in that country. The Forum, to be held from 27 to 30 March 2006 in the capital, Freetown, will be organised by the Commonwealth Business Council (CBC) in partnership with the Government of Sierra Leone.

Dr Mohan Kaul, Director-General of the CBC, said: "There has never been a better time for international investors and entrepreneurs to take a look at a country on the verge of recovery-led growth."

In August 2005, a United Nations Security Council Resolution mandated the newly established UN Integrated Office in Sierra Leone to create an enabling environment for private investment. In the months that followed, international donors pledged US$800 million for national reconstruction.

Dr Kaul said the next step is for the private sector to take these enabling measures forward through investment on the ground. This forum will therefore provide the private sector with its first opportunity to take a holistic view of what the country has to offer and to make a real contribution to sustainable prosperity and peace in the West African region.

The objective of the forum is to examine the challenges facing government and the private sectors in making these opportunities a reality. Discussions will focus on: the economic and institutional environment, incentives, and removing administrative barriers to investment and transparency; post-conflict infrastructure needs, and opportunities for public-private partnerships; in-depth exchanges on investment conditions in the core sectors of mining and minerals, agriculture and agro-industries, fisheries and tourism; and access to finance.

With the endorsement and participation of President Ahmad Tejan Kabbah, the Sierra Leone Investment Forum will bring senior international business executives together with ministers, domestic and regional corporate players, multilateral organisations and international financial institutions.

Dr Kaul said Sierra Leone should be attractive to investors as it is resource-rich in diamonds, gold, bauxite, chrome, iron ore and other resources. "Investment, cultivation, processing and export offer huge opportunities. Major players are already investigating the options for expansion in fisheries and aquaculture in abundant waters," he added.

For more information on the Sierra Leone Investment Forum or future International Business Forums hosted by the Commonwealth Business Council, contact James Newton, CBC Business Development, on +44 (0)20 7024 8200 or e-mail: james.newton@cbcglobal.org.

CNIS - Commonwealth News and Information Service, Issue 277, 22 March 2006