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Step To Obtaining an Investment Incentive Contract
*A simple application in the form of a Letter of Intent followed by a detailed project proposal shall be simultaneously submitted to The Chairman of the NIC and the relevant Government Ministry responsible for the sector in which the Approved Investment Project is to operate.

Address of the Chairman of the NIC:
Richard Tolbert
National Investment Commission (NIC)
P.O. Box 9043
Monrovia, Liberia
E-mail: info@nic.gov.lr

*The project is then assigned to an analyst at the NIC for initial review analysis and the preparation of an evaluation report.

After the analysis of the project is completed, a draft of the evaluation report is reviewed by an in—house screening committee to ensure that the project is in accordance with the guidelines established by the Commission.

*Copies of the final evaluation report are then circulated to the Commission members and other related government agencies to facilitate the final review of the report by these commissioners as the basis for a final decision to accept or reject the application for investments.

*Cases where the investment is above $10,000,000 US dollars, the contract requires the approval by the President and ratification by the National Legislature.

In order to be eligible for the incentives, the project must:

> Employ and train Liberians at all levels and increase their numbers in case of expansion;
> Use raw materials and other supplies of Liberian origin when their quality and price is roughly equal     to that of imports, as determined by the government;
> Produce local value added of 25% or more; and
> Leave an option open for Liberians to purchase shares or, otherwise, participate in the ownership of    the project.
> US$1 million under the proposed revised Investment Code of 2008)

In addition to the conditions listed above, the investor needs to ensure that the investor’s own risk-bearing capital is not less than one-third of the borrowed capital (if any). In granting incentives, the NIC takes into consideration the location of the project, its environmental impact and its potential for job creation.

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