The Liberia Special Economic Zones Authority (LSEZA) and the Liberia National Tourism Authority (LNTA) have signed a Memorandum of Understanding (MOU) to establish Liberia’s first Special Tourism Economic Zone (STEZ) at Lake Piso in Grand Cape Mount County.
The agreement provides a framework for collaboration between the two institutions to promote sustainable tourism investment, economic growth, environmental conservation, and community development through a dedicated eco-tourism Special Economic Zone.
The initiative supports the Government of Liberia’s ARREST Agenda for Inclusive Development (AAID) by encouraging private sector investment, creating employment opportunities, empowering local communities, and promoting environmental sustainability.
Speaking during the signing ceremony, LSEZA Executive Chairman Prince A. Wreh described the partnership as a major milestone in expanding Liberia’s Special Economic Zone program into the tourism sector.
He said the project is expected to attract domestic and foreign investment, generate employment, strengthen local businesses, and position Lake Piso as a leading eco-tourism destination in West Africa.
Under the agreement, LSEZA will oversee the designation and administration of the Special Tourism Economic Zone, manage investment incentives, coordinate infrastructure development, and provide a one-stop service platform for investors.
The Liberia National Tourism Authority, headed by Director General Princess Eva Cooper, will be responsible for regulating tourism standards within the zone, promoting Lake Piso internationally, and strengthening the capacity of tourism and hospitality operators.
According to the two institutions, the proposed Special Tourism Economic Zone will diversify Liberia’s economy by extending the country’s Special Economic Zone program beyond industrial and trade activities into high-value tourism services.
The signing of the MOU marks the beginning of closer collaboration between LSEZA and LNTA to unlock Lake Piso’s tourism and investment potential while positioning Liberia as a competitive destination for eco-tourism investment.
LSEZA is the statutory authority responsible for designating, promoting, developing, and managing Special Economic Zones across Liberia to drive industrialization, attract investment, and create sustainable employment opportunities.
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