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Lessons from foreign investments in Liberia Recommendations:
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The foreign investors should operate within a framework, defined by the Government of
Liberia and which is based on the principle of national
sovereignty. In the 1980s this right over the country’s natural resources had been
given away to foreigners as in the case of LAMCO JV and the Bong Mining Company
(BMC). In other cases, the Government tacitly allowed the illegal infringement
upon this sovereign right by foreign investors.
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This 50% participation / ownership entitled the Government of Liberia to
an equal share in the company’s profits. As a result, LAMCO and BMC
never paid one cent taxes over their profits!
Improvement of
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©
fpm van der kraaij
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