A memorandum of understanding, which cements the deal between both parties, was signed on March 11 in the United Arab Emirates (UAE) by Finance Minister Samuel Tweah, on behalf of the Government of Liberia, and Sheikh Ahmed for his investment group.
The agreement covers foreign direct investment in Liberia and further enhances the bilateral relationship between both countries.
During the International Defense Exhibition Conference last month, the Crown Prince of Abu Dhabi, Sheik Mohammed Bin Zayed al Nahyan, said "President George Weah holds a “special place in the hearts of my compatriots,” while also expressing his country’s interest to explore investment opportunities in Liberia.
Sheik Ahmed Dalmook Al Maktoum, whose organization along with its partners has extensive experience in the power and energy sector across Asia, Africa and the Middle East, seeks collaboration to develop and implement projects in mining and infrastructure, ports
upgrade and expansion, including the development of new ones, oil and gas exploration, amongst several other projects.
Sheikh Ahmed Bin Dalmook Juma Al Maktoum is a billionaire member of the ruling family of Dubai, UAE, and founder of the diversified conglomerate, Africa Middle East Resource Investment (AMERI Group).
He has emerged as a strong force on the global front. His organization is expected to carry out preliminary feasibility study and site visits to Liberia, following which a formal proposal will be developed and submitted to the government.
During the launch of the Pro-poor Agenda for Prosperity and Development last year, President Weah told Liberians that the surest way to develop the country was through “good quality infrastructure.”
He announced that in the coming years the government plans to invest in roads, energy and ports in an effort to improve the derelict infrastructure of the country.