In a move to spur economic growth and protect local industries, President Joseph Boakai has signed Executive Order No. 135, extending the measures instituted under Executive Order No. 119 to safeguard and stimulate local manufacturing.
The Executive Order aims to promote sustainable job creation, improve commerce and trade, and align with the goals outlined in the A.R.R.E.S.T. Agenda, a comprehensive economic development plan.
The order seeks to shield local businesses from unfair competition posed by international brands of locally manufactured goods, thereby fostering a conducive environment for the growth of Liberian industries.
“The issuance of Executive Order No. 135 underscores the commitment of the Liberian government to safeguard the interests of local manufacturers and ensure the sustainable growth of the country’s economy,” said President Boakai.
Under the new directive, the Ministry of Finance and Development Planning will publish a list of affected products and their corresponding import surcharge rates. This measure is designed to protect local industries from the potentially damaging effects of imported goods that could undermine the survival of Liberian manufacturers.
