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06 Oct 09 - Vice-President of Sierra Leone visits UNCTAD

Sierra Leone coat-of-armsThe Vice-President of Sierra Leone, in a meeting with UNCTAD Secretary-General Dr. Supachai Panitchpakdi, expressed his country's appreciation for UNCTAD's technical assistance and endorsed the main recommendations of the forthcoming Investment Policy Review.


The Vice-President of Sierra Leone, H.E. Alhaji Samuel Sam-Sumana, met with UNCTAD's Secretary-General, Dr. Supachai Panitchpakdi, to discuss UNCTAD's technical assistance for the country's development, notably in the area of investment.

The Vice-President was accompanied by the Honourable Minister of Information and Communication, Mr. I.B. Kargbo, the Consul of Sierra Leone in Switzerland, Mr. Emile Edouard Luy, and Dr. Alpha Grace, an international consultant and entrepreneur in the country.

Vice-President of Sierra Leone, H.E. Alhaji Samuel Sam-Sumana (third from the left) with Dr. Supachai Panitchpakdi, Mr. Emile Edouard Luy (right) and Hon. I.B. Kargbo, Minister of Information and Communication (left)
Vice-President of Sierra Leone, H.E. Alhaji Samuel Sam-Sumana (third from the left) with Dr. Supachai Panitchpakdi, Mr. Emile Edouard Luy (right) and Hon. I.B. Kargbo, Minister of Information and Communication (left)

Dr. Supachai and H.E. Sam-Sumana discussed some of the key findings of UNCTAD's Investment Policy Review (IPR) of Sierra Leone.

The IPR looks at the regulatory framework for foreign direct investment (FDI) in Sierra Leone and provides several recommendations to make the investment climate more attractive. In accordance with the Government's request, it also elaborates on an overall strategy to attract beneficial inflows of FDI.

Recommendations include:

  • Tackling infrastructure deficiencies

  • Building human capital

  • Establishing a competitive fiscal regime

  • Facilitating business and trade

  • Promoting and facilitating FDI

  • Targeting investment in selected sectors such as mining, commercial agriculture, fisheries and tourism

The draft IPR will be presented at a national workshop in Freetown on 8 October 2009. The workshop will be attended by high-level Government officials, including the Honourable Minister of Trade and Industry, Mr. David Carew, and representatives of the private sector, civil society and international community.

The Vice-President took the opportunity to inform Dr. Supachai about the Sierra Leone Investment and Donor Conference to be held in London on 18 and 19 November 2009, and invited UNCTAD to contribute to the conference.


 

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