September 23, 2021
BY MOHAMED M.SESAY
During the budget hearing for the fiscal year 2022, the Chief Executive Officer of the Sierra Leone Investment and Export Promotion Agency (SLIEPA) Sheku Lexmon N. Koroma, has yesterday the 22nd of September, presented seven billion Leone as the annual budget for fiscal year 2022.
Speaking to journalists, Sheku Koroma disclosed that the 2022 annual budget that he presented to the Ministry of Finance are geared towards implementing projects that will be achieved by the Agency at the end of 2022. He added that globally, there are a lot of problems and that those problems could only be addressed when the country has multiple investors.
The five key deliverables for the fiscal year 2022 highlighted by Sheku Koroma are as follow; to develop sector profiles and briefs in key sectors (Agri-business, Tourism, Fisheries, Energy, Manufacturing, Health and ICT) in order to promote investment in key markets; to conduct investor aftercare study to develop blueprint for aftercare unit operation by conducting fifteen aftercare visits targeting 40 existing business and stakeholders consultation via public dialogue.
Sheku Koroma further presented key deliverables for 2022 to include; developing export opportunities in four value chains, Agro-processing, Light manufacturing, Arts and Craft, and fish processing); promote market linkages and facilitate twenty-five exporters and producers organizations for market access; develop the capacity of thirty staff of SLIEPA in specialized and technical courses to enhance performance; and to operationalize the Trade Information Center (TIC) and launch new SLIEPA website; Sixty local news article publications and two articles for international tabloid; and proactive national outreach campaign, quarterly newsletter publications and enhanced brand visibility.
“We have developed a lot of programmes which have been designed under investment, under export, under aftercare, under research and under provincial office operations. Investment is responsible to cater for investors. My office facilitates all investments and we have got new ideas which have been added to the budget presented to the Ministry of Finance for 2022”, he said.
In terms of export activities, he noted that the more the country brings in more investors the more export activities will increase. He added that because of the increased in the country’s investment, mining companies operating in the country have increased, new bakery has been established at Wellington, and recently, they have been in an agreement with an estate company to construct five thousand affordable houses.
He revealed that the seven billion Leones they presented to the Ministry of Finance is to actualize all the activities outlined in the 2022 budget adding that, the budget will help the country lure more investors through their activity plans. He concluded by encouraging government to approve the budget since SLIEPA is not a revenue generating agency.