Ratifies establishment of Koya Industrial Zone
20 Apr 2023
On 20 April 2023, the Parliament ratified the establishment of the Koya Industrial Zone, a public-private partnership with Arise Integrated Industrial Platforms, a developer and operator of industrial parks with projects throughout West Africa. The Industrial Zone is expected to comprise a port and rail system, energy systems and infrastructure to enable industrial activity. It is aimed at boosting economic growth and skilled jobs and raising export revenue by attracting investors through streamlined permits and approvals required to do businesses in Sierra Leone. The Koya integrated industrial zone is designed to host companies specializing, among other things, in agro-industry, timber processing, pharmaceuticals, consumer goods manufacturing, electric vehicle manufacturing, and cement and tile manufacturing. The initial focus is on import substitution by manufacturing tiles and processing iron-ore used in the construction industry, as well as creating pharmaceutical products. In agriculture, it will promote value capture by producing finished and packaged goods from forestry, cotton, soya and cashew.
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Promotion and facilitation (Investment facilitation , Special economic zones)
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