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President Julius Maada Bio assures Investors of a Conducive Business Climate in Sierra Leone

Sochi, Russian Federation, Thursday 24 October 2019 – His Excellency President Dr Julius Maada Bio has assured his colleague Heads of State and business leaders that Sierra Leone is a perfect destination with a conducive ecosystem for credible businesses and investments.

Speaking at the Russia-Africa Forum in Sochi, the President said his resource-rich West African nation had prospects in value-addition and processing and that investors were assured of earning and repatriating profit from their investments in a peaceful country, adding that his government would provide a predictable regime of incentives and aftercare while actively encouraging businesses to grow and tell other investors why Sierra Leone was a credible and profitable investment destination.

He said the country was seeking closer partnerships and closer collaboration for its national development in human capital development – education, healthcare, and food productivity. He noted that Sierra Leone was looking forward to strengthening and deepening ties and sharing a future that would be based on mutual trust and respect in all fields.

“Africa and Russia share a strong sense of history and solidarity. Russia’s long history of bilateral cooperation and technical assistance has transformed the lives of millions of Africans throughout the post-independence period. Africa and Russia are at the threshold of negotiating a new and promising relationship. Africa offers an increasingly integrated market of 1.2 billion people; largely untapped mineral, hydrocarbon, and fisheries resources.

“Investment opportunities in tourism, infrastructure and agriculture, and a talented youthful population eager to explore the power of science and technology, and innovation for development. This is the new Africa at peace, integrated, and brimming with an opportunity that is open to Russia and which our individual governments are working hard to develop,” he said.

As Coordinator of the Committee of Ten African Heads of State, President Bio also used the opportunity to reiterate that Africa was firmly committed to the Common African Position on the reform of the United Nations Security Council and anticipated further discussions with the Russian Federation on the all-important issues in its relations with African states.

“Russia Federation has been a very good friend of Africa and we look forward to lowering all barriers to our relations while forging innovative, bolder, but closer, and mutually beneficial relations. As a continent and as a country, Sierra Leone looks forward to consistent and enduring partnerships with the Russian Federation,” he ended.

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