Trade Minister woos Sethi Brothers to invest in Salone
Minister of Trade and Industry, Dr. Edward Hinga Sandy has in collaboration with Sierra Leone's Ambassador to Liberia engaged Sethi Brothers in Liberia to look at the possibility of investing in Sierra Leone.
Ambassador Eddie S. Massally had earlier reiterated to the Trade Minister the willingness of Sethi Brothers, who are currently engaged in business in Liberia to start investment in Sierra Leone.
Dr. Sandy visited Liberia to assess the Sethi Brothers, and to ascertain how the government will provide the enabling environment for them to start their business.
In a meeting with Paul Sethi, CEO of Sethi Brothers, the Trade Minister reiterated the government's determination to open up industries as was stated in the President's manifesto, adding that the government was already restructuring the industrial policy.
“Every year the government prepares a new financial Act that supports industry development as in line with the Medium Term National Development Plan. There are already two big vegetable oil Industries and two flour milling Companies among others currently operating in Sierra Leone,” he stated.
He also made mentioned of market opportunities offered by the ECOWAS Trade Liberalisation Scheme and the Continental Free Trade Agreement (AfCFTA) for which trading will commence in January 2021.
Dr. Sandy commended the CEO for his desire to establish an Industry in Sierra Leone with a focus on the production of Plastic materials and steels.
“Government looks forward to a private sector led economic growth in Sierra Leone through industry development with huge impact on job creation for the youths, technology and skills transfer and export promotion,” the Minister added.
On his part, the CEO of Sethi Brothers, Paul Sethi welcomed and thanked the trade minister and the Ambassador for the support provided.
He explained that the company was established in 1980 and presently operating in Guinea, Ghana and Liberia. According to him, the company is engaged in the production of Plastic materials, steels, paint, and cement.
Mr. Sethi expressed his willingness and determination to establish his company in Sierra Leone, and stated that their distributors have always been locals of the country of operations.
“My company has just bought the Coca Cola Company in Liberia. Building factories in Sierra Leone will create jobs for the youths, and peace for the country,” he said.
HE Eddie S. Massally thanked the minister for the assessment tour, and also expressed gratitude to the CEO of Sethi Brothers for his good intentions in establishing a multi-industry complex in Sierra Leone.