Adopted Special Economic Zones Act of 2017

On 9 October 2017, Liberia adopted the Special Economic Zones Act of 2017. The Act established a framework for creating and regulating Special Economic Zones (SEZs) in Liberia. Key features of the Act include: • It created the Liberia Special Economic Zone Authority (LSEZA) to oversee the development and regulation of SEZs across the country. • It aims to promote economic growth and national development by attracting domestic and foreign investment. • It provides for special tax incentives and regimes to attract investments to the SEZs. • It sets forth rights and obligations for licensees, developers, and operators within SEZs. • It allows for the free exchange and transfer of funds from activities of SEZ licensees, developers, and operators. • It is mandated to provide a One-Stop-Shop within each SEZ for business registrations, licenses, permits, approvals, and collection of taxes and fees. • It allows for SEZs to be established in various parts of Liberia, subject to approval by the LSEZA.

This legislation represents Liberia's efforts to create a more attractive environment for investment and industrial development through the establishment of Special Economic Zones.

• Type:

  • Treatment and operation (Capital transfer and FOREX)
  • Promotion and facilitation (Investment facilitation , Investment incentives, Special economic zones)

• Industry:

  • Not industry specific

• Sources:

  • Government Portal, Special Economic Zone Act 2017, https://www.moci.gov.lr/index.php/document/special-economic-zone-act-2017, 01 Nov 2017
  • Government portal, Free Zones and Industrial Parks, https://www.investliberia.gov.lr/invest-in-liberia/free-zones-and-industrial-parks/, 01 Nov 2017