Farmington Hotel, Unification Town, Margibi County:- President Joseph Nyuma Boakai, Sr., has officially launched the 10-Year National Fisheries Plan to mobilize investment and collective action to develop Liberia’s fisheries sector to fully unlock its blue economy potential for national growth.

 Launching the initiative at the Farmington Hotel in Margibi County, on Monday, March 30, 2025, with theme, “Unlocking Blue Horizon; the Future of Fisheries and the Blue Economy”, President Boakai called on investors to invest in the fisheries sector, however sounding a caution that “Liberia is open for business not exploitation.”

“To those considering investment in Liberia’s fisheries, hear me clearly: we are open for business, but we are not open for exploitation. We seek partners who will build local capacity, who will respect our environmental standards, and who will share the benefits with our communities,” President stressed.

 The President said Liberia’s skilled waters are productive, and therefore his Administration is committed to creating an enabling environment through the new Public Private Partnership (PPP) strategy with streamlined regulations.

As a maritime nation, the launch of “Liberia’s Blue Economy” will explore waters extending 200 nautical miles into the Atlantic Ocean, covering some of the richest fishing grounds in the Gulf of Guinea. The country’s 570-kilometer coastline, with its estuaries, lagoons, and mangroves, serves as a nursery for over 254,000 metric tons of demersal species and approximately 94,000 metric tons of pelagic species.

 This initiative, named and styled in the Kpelleh language, “KPONGAMA” (group gathering), directly supports the Government’s ARREST Agenda for Inclusive Development, with a focus on job creation, economic empowerment, and accountability. It is also aligned with the African Union Blue Economy Strategy, the ECOWAS Fisheries Policy Framework, and Sustainable Development Goal 14 – Life Below Water. Through these efforts, Liberia is positioning itself not as a bystander, but as a regional leader in the blue economy.

 The President averred that Liberia possesses 579 kilometers of coastline and 200 Exclusive Economic Zone (EEZ) rich in marine life; yet imports more than 33,000 metric tons of fish annually, lamenting that Liberia’s catch of very high value species is landed in foreign ports because of its lack of a dedicated fishing harbor.

He stated that the artisanal fisher which provides about 80 percent of the domestic fish production operates without adequate cold storage, without digital payment systems, and too often, without the dignity their labor deserves, a condition his Administration has for now lived with. He pointed out however that,

“This is not a situation we accept. It is a challenge we embrace.”

 The Chief-Launcher revealed that when his Administration took over the affairs of the State, NaFAA moved away from reliance on industrial vessel licensing fees to private-sector-driven growth.

 The President recalled, “When I took office, I directed my Government to move NaFAA away from just over-reliance on industrial vessel licensing fees to a model that served bureaucracy more than it served our people,” noting further,

“We are pivoting toward private-sector-driven growth through public-private partnerships, and value-chain development that keeps jobs and revenue here in Liberia and increases our foreign direct earnings.”

 The Liberian Leader went on to say that his Administration has secured a €25 million grant from the European Union to enhance the artisanal fisheries value chain and that the Government has partnered with Orange Liberia to introduce mobile-based solutions and solar-powered cold storage that will reduce post-harvest losses. He also mentioned the Sea King, Liberia’s first semi-industrial fiberglass vessel, and the long-deserted Robertsport fishing cluster that was constructed by the World Bank in 2016 are about to become operational through a Public-Private partnership.

 The President said it’s the direction that his Government desires for the fisheries sector, assuring that he is not pursuing abstract policies, rather taking tangible steps to ensure a fisherwoman in West Point or a canoe captain in Harper can earn more from his/her catch.

 The President intimated that Liberia is already taking decisive steps to transform its fisheries sector into a modern, competitive, and investment ready industry.

 “Through the Liberia Sustainable Management of Fisheries Project, supported by the World Bank, we are strengthening institutions while directly improving livelihoods across our coastal communities, the President said, noting, “We are also introducing innovation through the deployment of solar-powered fiberglass canoes, bringing modern, energy-efficient technology to our small-scale fishers.”

 At the same time, he added that the Government is investing in infrastructures that will unlock long-term growth.

He disclosed that the design for Liberia’s fisheries harbor is nearing completion, and construction of a new national fisheries complex is expected to begin later this year. These investments, he predicts, will create a modern hub for fisheries management, logistics, and private sector engagement.

 He concluded that the Government of Liberia is already working with the World Bank on a follow up initiative that will consolidate these gains, deepen public private partnerships, and expand opportunities for investment while creating more jobs for Liberians.

 Meanwhile, Honorable Aliou Mamadou Dia, Resident Representative of the United Nations Development Program has pledged the support of the UNDP to ensure that the establishment of a national blue economy investment platform serve as a catalytic mechanism-bringing together stakeholders, structuring pipelines of bankable projects, and accelerating the transition from dialogue to delivery.

 “At UNDP, we remain fully committed to supporting the Government of Liberia building on ongoing initiatives such as the MMCRP, the Sinoe Coastal Protection Project, and investments in fisheries infrastructure while helping unlock larger, transformative opportunities across the blue economy,” the UNDP Boss assured.

 The Resident Coordinator asserted that Liberia stands at a pivotal moment where the foundations are being laid through strong national leadership and clear development vision.