Recently, the national legislature overwhelmingly passed into law the establishment of a tire factory in Liberia by a single Indian business establishment, the Jeety Corporation.
Despite the world’s largest rubber company, Firestone, occupying Liberia for nearly 200 years without manufacturing a single tire or rubber material, Jeety’s management has been hailed by Liberians and foreign residents alike for its initiative to investment in the sector.
However, in order to actualize its commitment to the people of Liberia in their quest to improve the livelihoods of all in the growth and development of the economy, the Coalition for Democratic Change (CDC) led the government of Liberia ( GOL), through President George Manneh. Weah, submitted the Jeety Rubber LLC Investment Incentive Agreement to the 54th National Legislature for ratification.
The company, which is expected to start full operations in the country very soon, is owned by famous Indian business tycoon, Dr. Upjit Singh Sachdeva.
He is commonly referred to as “Jeety” in Liberia
Dr. Sachdeva is the Chief Executive Officer (CEO) of Jeety Trading Corporation, a major importer and distributor of hardware and building materials, and dozens of other companies across the country.
Last week, the Liberian Senate agreed with the House of Representatives to pass the agreement.
The action of the senators comes after hours of deliberation on a report submitted to the plenary by the commissions of concessions and investments, ways, means, finances and budget and justice.
Under the agreement, Jeety Rubber LLC will construct, develop and operate a national rubber processing and production plant for the production of tires and other natural rubber products.
It includes long and short rubber items.
The processing plant is also expected to produce gloves, rain boots and rubber bands, among others.
The company will process approximately 25,000 tonnes of natural rubber per year.
This forces Jeety Rubber LLC to consider the interest of local rubber traders and others when purchasing raw materials.
In the wake of Liberia’s high unemployment rate, the Jeety Rubber processing plant agreement ratified by the Liberian government will help many citizens put food on the table for themselves and their respective households.
Over 300 Liberians are expected to gain full employment with the company upon the start of its full operations.
Additional citizens will also be granted employment opportunities following the expansion of the company’s activities.
Jeety Rubber LLC will also prioritize purchasing latex from small local rubber growers in the 15 counties in a bid to help develop Liberia’s economy which is going through a turbulent time.
Local rubber producers are already struggling to grow, harvest or market their products due to the lack of investment opportunities in the sector.
Citizens of the company’s area of activity are those who will be privileged in terms of job offers.
Fight against poverty
The new agreement ratified by the Government of Liberia aims to also address the high rate of poverty in Liberia.
It will alleviate the suffering of citizens by providing employment opportunities and contributions to basic social services and empowerment opportunities in line with its corporate social responsibility.
Many believed that the establishment and start of full operations by Jeety Rubber LLC in Liberia will now compel other foreign and local rubber producing companies operating in the country to muster the courage to ensure the construction of enterprises to process the materials unfinished into finished goods.
When this is done, it will go a long way in addressing security threats in Liberia due to the influx of vulnerable youths who continue to wander across the country due to lack of job opportunities.
Some youths in Liberia engage in unhealthy practices in the country due to the lack of foreign direct investment opportunities to secure their employment and in turn help meet their immediate needs and those of their respective family members.
With the latest agreement signed and ratified between the Government of Liberia and Jeety Rubber LLC, a win-win situation for all is certain following the many challenges facing Liberia and its citizens.
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