By Amin Kef (Ranger)
Members of Parliament have on Thursday the 20th April, 2023 debated and ratified the framework agreement between the Republic of Sierra Leone and ARISE Integrated Industrial Platforms(ARISE IIP) relating to the implementation of a Special Economic Zone in Sierra Leone dated April 2023.
Minister of Trade and Industry, Dr. Hinga Sandy in his submission for the ratification of the agreement stated how it would enhance economic growth and provide huge employment for the people of Sierra Leone.
MPs who spoke to the debate acknowledged the importance of the agreement, whilst the Acting Leaders of the House applauded the initiative of the Government further expressing hope that the aforementioned agreement will yield dividends for the growth and development of the State.
It could be recalled that this medium previously reported that on the 26th April, 2023, all roads will lead to Port Loko District, Mile 36 , Koya Chiefdom ,as people from all walks of life will, converge at the Chiefdom close to the David School, to witness the manifestation of one of the Government’s Manifesto promises made by President Dr Julius Maada Bio, geared towards enhancing industrialization in order to create job opportunities, earn revenue that could help in eradicating poverty, for a Groundbreaking Ceremony for the development a Special Economic Zone to be known as the Koya Industrial Zone (SiZ-Koya), said to be a joint venture between the Republic of Sierra Leone and ARISE IIP under the patronage of H.E Brig.(Rtd) Dr Julius Maada Bio.
During the ceremony, the welcome address will be delivered by the Paramount Chief, Koya Chiefdom, PC Bai Kompa Bomboli 111 to be followed by the Project Presentation by the Logistics Value Chain Director of ARISE IIP, Jesper Boll.
Furthermore, speeches will be delivered by the President of AFREXIMBANK, Prof. Benedit Oramah, by the CEO of Africa Finance Corporation, Samalia Zubairu, the Minister of Lands, Housing and Country Planning, Dr Turad Senesie, the Minister of Trade and Industry, Dr Edward Hinga Sandy.
The keynote address will be delivered by His Excellency President Julius Maada Bio.
It must be noted that ARISE IIP has demonstrated impressive establishment of thriving Economic Zones in Benin and Gabon and has shown interest in replicating it here in Sierra Leone which to many is a positive move in the direction of promoting sustainable development just as they commended the initiative of the Government in joining partnership to translate into reality the wonderful transformation of the country’s airport at Lungi, which is an envy in the sub-region.
This medium learnt from a reliable source that ARISE IIP is set to pump in a lump sum of $1.2 Billion to establish a Special Industrial Zone in Sierra Leone, which is a specific area of the national territory that has been allocated by the Government to promote agricultural production and processing (cashew nuts, cotton, soybeans, Shea butter, pineapple etc) and other raw materials where fiscal and customs measures and facilities for setting up administrative procedures , infrastructure and services are put in place to attract investors.
Cognizance must be taken that the Industrial Zones set up by ARISE IIP in other African countries have contributed immensely to booming their economies through massive job creation, payment of royalties, rolling out corporate social responsibilities ,attracting more international and local investors.
The company has prior committed itself to spending a further $478 Million for the extension of the Pepel Railway and Port.
Authorities of the company revealed how they want to achieve major goals in the next twenty-four months in Sierra Leone to develop and manage the rail and port, to launch the industrial zone and to run passenger trains linking the whole country and neighbouring Guinea and Liberia.
Already, the company has put in place $85Million to kick-start the process of achieving its targeted objectives in Sierra Leone.
As a high profiled company, it is capable of bringing in major reputable and credible companies from across the globe to operate in the Industrial Zone in areas like textile, tile, processing agricultural raw materials etc.
“The Special Economic Zone will provide electricity, water supply, health and other basic amenities to investors working within the Zone,” it was revealed. ARISE IPP Chief Executive Officer Gagan Gupta, is on record, assuring Sierra Leoneans of massive Industrial Zone investment portfolios just like his company continues to do in Benin, Gabon and other parts of Africa, maintaining that in Sierra Leone there will be massive infrastructural and other developments in line with its mission and vision within 24 months through the intervention of his company.
