By Prince J Musa in Kenema
The National Investment Board has on 20th February 2020 concluded a regional consultative engagement with stakeholders in the eastern region of Sierra Leone for their input into an investment policy developed before it is tabled for cabinet approval.
In attendance at the event at Albertson hotel in Kenema were paramount chiefs, private investment companies, agricultural organizations including financial institutions.
The Executive Director National Investment Board, Professor Maada Mustapha said the purpose of the regional consultation is to get the input of the people on how the government plans to improve on private investment and attract more investors to come into the country.
He said, the aim of the National Investment Board is to establish one secretariat which will coordinate all investors coming to invest in the country including the existing ones.
“This board will protect the investors and attract more investors into the country,” he said.
He said that the government alone in any country cannot afford to create job opportunities for all its citizens but through investment companies “investment partners are key to any national development. We are working in consonance with the local councils since the councils are center of any development,” he said.
Professor Mustapha added that the existence of the National Investment Board will open the country to more international investors to operate factories and industries.
He added that the existence of the board will prevent investors from being exploited by Ministries Department and Agencies as only one secretariat will handle all documentation of investors ``From our findings a lot of investors have run away as a result of too much bureaucracy by MDA’S in getting their licenses”.
He said the government wants the document to be owned by the citizens after parliamentary approval. He added that the Attorney General and the Ministry of Justice is working on the legal instrument for it to be legal.
He said business people have lost trust in government institutions due to corruption and requests for bribery by officers in the MDA’s before processing their documents.
“NIB secretariat will now access the investor’s first and process necessary documents and direct it to a particular ministry for operation based on areas of investment,” he said.
Speaking on behalf of his colleague paramount chiefs of eastern province, the regional chairman east, council of paramount chief, PC David Kellie Coomber of Mobai chiefdom Kailahun district referred to the venture of the government as the right way of motivating investors to come.
“We as paramount chiefs need development for our people as that will help to reduce poverty in our communities, as most vulnerable people do cry on to paramount chief for help,” he said.
He added that traditional leaders yearn for investment as long as it’s not a criminal activity, adding that lack of Jobs for youths will lead to an increase in crime rates.
He assured the government that paramount chiefs will be committed to ensure that the dream of the president becomes achievable. “We own our land with our people, without land no tangible development will take place,” he said.
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