President George Weah has made a request to the House of Representatives to grant a tax waiver to the Liberian American Poultry Farm to facilitate the construction of a US$15 million farm, which is expected to boost egg production in the country by over 100 million eggs annually.
The President noted that the request is part of his commitment to fostering investment and economic growth in the country’s agriculture sector.
If approved, the exemption would enable the company to construct a state-of-the-art farm, which would significantly reduce the country’s egg imports, heralding a new era of self-sufficiency in the nation’s food chain.
“I am pleased to submit to the Legislature for ratification an investment incentive agreement for the construction of a poultry farm that is designed to produce about one hundred eighty-six million one hundred fifty thousand eggs annually,” Weah wrote in a communication.
The poultry complex, which is owned by United Commodities Incorporated, a company heavily involved in the importation of rice in the country, already has over 170,000 chickens it farms in Bomi, supplying the country daily with thousands of eggs. However, the volume is not enough to reduce Liberia’s heavy reliance on egg imports.
The country’s import data for eggs, which is an important source of protein for millions of Liberians, stood at US$13.4 million in 2021, effectively making Liberia the 55th largest importer of eggs in the world, data from the Observatory of Economic Complexity shows.
Also, eggs in that same year were the country’s 39th most imported product in Liberia with imports primarily from: Spain ($4.72M), Poland ($4.04M), Ukraine ($1.92M), Turkey ($963k), and Portugal ($557k).
The President’s request, if approved, would grant the Liberian American Poultry Farm about 10 years’ tax waiver and the creation of 250 direct jobs and 500 indirect jobs.
Under the Agreement, Weah noted that the company would also grow maize on 200 acres of land to produce 30,000 tons of chicken feed annually, while at the same time, “working with smallholders by providing seed inputs and technical support for the growth of maize.”
“Additionally, the project shall create about 250 direct jobs and over 500 indirect jobs for our people,” the President added. “Most importantly, the success of this project will offset the deficiency of the random shortage of eggs, making provision to produce fresh eggs on our market, as well as exporting fresh eggs to neighboring countries.”
Meanwhile, the House has mandated its Joint Committee on Investment & Concessions, Agriculture and Forestry, as well as Judiciary committees, to review the tax waivers’ report before the closure of the House’s Special Sitting.
