Pres. Boakai Calls for Operation of Golden Veroleum Limited Expansion in Liberia
By: Sylvester Choloplay
Bali, Indonesia: President Joseph Nyuma Boakai Sr. has called for a significant expansion of Golden Veroleum Limited (GVL), an Indonesian palm oil company operating in Liberia. The President made the call during a high-level bilateral talks with Indonesian President Joko Widodo at the 2nd Indonesia-Africa Forum.
In his address, President Boakai advocated for the establishment of a palm oil refinery in Liberia, highlighting its potential to boost value addition within the country’s palm oil sector and generate substantial employment opportunities for Liberians.
President Boakai emphasized that while GVL’s contributions to Liberia’s agricultural sector have been valuable, establishing a local refinery would significantly enhance the economic benefits derived from the palm oil industry.
This initiative is expected to create numerous jobs which is crucial for addressing Liberia’s employment challenges and fostering economic growth.
The refinery would enable Liberia to process palm oil domestically reducing reliance on imports and increasing the sector’s profitability.
According to Executive Mansion Press, during the discussions, President Boakai expressed gratitude for Indonesia’s historical support including its role in Liberia’s peacekeeping efforts and investments in various sectors.
He urged continued Indonesian support to address the challenges faced by Indonesian companies in Liberia particularly those operating in the palm oil industry.
In addition to the refinery proposal, President Boakai suggested several measures to strengthen bilateral relations such as, the exchange of Resident Ambassadors and the revitalization of the Joint Commission established in 2013.
He also extended a formal invitation to President Widodo to visit Liberia, aiming to further cement the partnership and explore new avenues for collaboration.
Responding to President Boakai’s call, President Widodo showed strong support for increasing Indonesian investment in Liberia.
He proposed enhancing cooperation in key areas including infrastructure development, capacity building, and technical support.
President Widodo also invited Liberia to join the Council of Palm Oil Producing Countries (CPOC) and participate in the South-South Tropical Forest Collaboration, recognizing Liberia’s extensive forest resources as a valuable asset.
Both leaders expressed optimism about the future of their partnership, focusing on creating economic opportunities, improving livelihoods, and supporting sustainable development in both nations.
