Recently, the national legislature overwhelmingly passed the establishment of a tire factory in Liberia by a single Indian business establishment, the Jeety Corporation.
Despite occupying the world’s largest rubber company, Firestone in Liberia for nearly 200 years without manufacturing a single tire or rubber material, Jeety’s management has been praised by Liberians and foreign residents for their initiative to ‘invest in the sector.
However, in order to actualize its commitment to the Liberian people 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 operations in the country very soon, is owned by famous Indian business magnate Dr Upjit Singh Sachdeva.
It is commonly referred to as “Jeety” in Liberia
Dr Sachdeva is the CEO of Jeety Trading Corporation – a leading importer and distributor of hardware and building materials – and many other companies across the country.
Last week, the Liberian Senate agreed with the House of Representatives to pass the accord.
The Senators’ action comes after hours of deliberation on a report submitted to the Plenary by the Concessions and Investments, Ways, Means, Finances and Budget, and Judicial Commissions.
Under the agreement, Jeety Rubber LLC will build, 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 articles.
The processing plant is also expected to produce gloves, rain boots and rubber bands, among others.
The company will process around 25,000 tonnes of natural rubber per year.
This forces Jeety Rubber LLC to consider the interests of local rubber traders and others when purchasing raw materials.
In the wake of high unemployment in Liberia, the Jeety Rubber Processing Plant Agreement ratified by the Liberian government will help many citizens put food on the tables for themselves and their respective households.
More than 300 Liberians are expected to obtain full employment with the company from the start of its full operations.
Additional citizens will also be granted employment opportunities as a result of the expansion of the company’s operations.
Jeety Rubber LLC will also prioritize purchasing latex from local rubber growers in 15 counties in an effort to help develop the Liberian economy, which is going through a period of turmoil.
Local rubber producers are already struggling to grow, harvest or market their products due to the lack of investment opportunities in the sector.
The citizens of the area of activity of the company are those who will be privileged in terms of job offer.
The new accord ratified by the government of Liberia tends to tackle the high rate of poverty in Liberia as well.
It will alleviate the suffering of citizens by providing employment opportunities and contributions to basic social services and empowerment opportunities in accordance with its corporate social responsibility.
Many believed that the establishment and start of full operations of Jeety Rubber LLC in Liberia would now require other foreign and local rubber production companies operating in the country to muster the courage to ensure the construction of businesses to transform the companies. unfinished materials into finished products.
When this is done, it will go a long way in addressing security threats in Liberia due to the influx of vulnerable young people who continue to wander across the country due to lack of employment opportunities.
Some young people in Liberia are engaged in unhealthy practices in the country due to the lack of foreign direct investment opportunities to secure their jobs and in turn help meet their immediate needs and those of their respective family members.
With the latest agreement signed and ratified between the Liberian government and Jeety Rubber LLC, a win-win situation for all is certain as a result of the many challenges that Liberia and its citizens face.
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