TRADE, INVESTMENT AND ECONOMIC DIVERSIFICATION

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Presentation transcript:

TRADE, INVESTMENT AND ECONOMIC DIVERSIFICATION Joe Demby, Presidential Adviser on Economic and Financial Policy Sheku Lexmond Koroma, Chief Executive, Sierra Leone Investment and Export Promotion Agency (SLIEPA) Michala Mackay, Chief Executive, Corporate Affairs Commission June 2019 UK – SL Trade and Investment Conference

Priority sectors for economic diversification Exports FDI stock Priority sectors for economic diversification USD 840 million USD 1.4 billion Agriculture Fisheries Tourism Industries FDI flow (2017) Imports USD 1.3 billion USD 560 million

Market access 3hrs from Lagos 6hrs From Europe 8hrs from the Americas Strategic access to markets, boasting a natural deep water harbor. By air: 3h from Lagos, 4h from Casablanca, 6h from Europe, 8h from the Americas Duty free access to global markets (EU, USA, ECOWAS, Mano River Union) 3hrs from Lagos 6hrs From Europe 8hrs from the Americas

Exports by Product – US$840m

Imports by Product – US$1.3bn

Exports by Destination – US$840m

Imports by Origin – US$1.3bn

Economic Diversification Programme Public Infrastructure Investment Private Infrastructure Investment Technology and Innovation Investment Policy and Institutional Reforms Human Capital Development Targeted Industry Growth: Agro-processing Fishing Tourism Mineral Beneficiation

National Investment Board Chaired by President and Vice-President with Senior Ministers and Economic and Infrastructure Advisers National Investment Board Participating Agencies Sierra Leone Investment and Export Promotion Agency NIB Operating Arm Ultimate Authority on Investment Affairs One-Stop Shop Inaugurated as Advisory Board Plans for statutory constitution NMA CAC NRA others

Infrastructure Investment Fund Fund Adviser

Perceived Opportunity Mining Tourism

Actual Opportunity Agrobusiness Mining Fisheries Tourism

TRADE, INVESTMENT AND ECONOMIC DIVERSIFICATION Joe Demby, Presidential Adviser on Economic and Financial Policy Sheku Lexmond Koroma, Chief Executive, Sierra Leone Investment and Export Promotion Agency (SLIEPA) Michala Mackay, Chief Executive, Corporate Affairs Commission June 2019 UK – SL Trade and Investment Conference