President Joseph Nyuma Boakai has submitted a proposed US$18 million Investment Incentive Agreement between the Government of Liberia and CGL International Ltd. to the Legislature’s Committee on Investment for review.
The proposed investment seeks to establish a rubber processing facility in Bong County, a project expected to create approximately 300 direct jobs, enhance local value addition in Liberia’s rubber sector, and contribute to economic growth.
The deal aims to establish a rubber processing facility in Bong County, significantly boosting local value addition and creating over 300 direct jobs The project scope includes the construction of a modern rubber processing plant to process natural rubber. The company plans to expand operations to include cocoa powder production, wood products, and rain boot manufacturing.
On the economic impact, the agreement seeks the creation of more than 300 direct jobs, offering a major economic boost to Bong County and the surrounding rural communities. The agreement is currently under review by the Legislative Committees on Investment. The investor, CGL International Ltd., plans to process natural rubber and also venture into cocoa powder, wood products, and rain boot manufacturing.
In his communication to the Legislature, President Boakai said the project is in line with his administration’s push for value addition and industrialization. He noted that at least 300 Liberians will be employed directly over 10 years, with more jobs expected indirectly through suppliers and service providers.
The House, after deliberation, forwarded the agreement to the Committee on Investment for a week-long review when Session resumes. Lawmakers are expected to assess the fiscal incentives, job projections, and community impact before ratification.
If approved, the Bong County facility would mark one of the first major rubber value-addition projects under the Boakai administration and strengthen the country’s industrial base, support employment opportunities, and increase the processing of locally produced rubber rather than relying primarily on raw exports.
