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NIC Embarks On New Measures To Protect Businesses

19 October 2015, 12:32 pm Written by 
Published in LINA Bulletin
Read 1294 times

(LINA) - The National Investment Commission (NIC) is implementing a Free Prior Informed, Consent (FPIC) process in awarding and expanding concessions contract in the country.

The FPIC process provides for consultation, agreement and consent by inhabitants of an area poised to be explored before being declared available for exploration by the commission to interested investors.

NIC Executive Director George Wisner speaking at the Ministry of Information press briefing recently said the intent of the FPIC process is to also help reduce and, if possible, curb the growing wave of violence in concession areas, many of which are predominantly based on dissatisfaction and complaints of encroachment.

He vowed to apply the FPIC process to all existing and future concessions contracts to enhance smooth and secure investment environment in the country.

Wisner also cited the commission preparedness to address concerns by the local investment community on the lack of investment incentives for new businesses they want to undertake.

He, meanwhile, is urging citizens to take collective actions that will promote and protect investors, adding, “The protection and promotion of investors in the country is not the business of government alone, but also the responsibility of every Liberian.”
LINA BMK/JGT/PTK

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