The China Africa Development Fund (CDAFund) investment delegation headed by its ECO, Mr. Chi Jianxin visited Liberia from April 19 to 23.

The delegation paid a courtesy call on H.E. Joseph Boakai, Vice President of the Republic of Liberia, attended the China-Liberia Investment Forum and a dinner hosted by Vice President Boakai. They also visited several projects including the Bong Mine, the Mountain Coffee Hydro electric plant and the Bucanan Port during their stay in Liberia.

Journalists interviews Mr. Chi Xinjian, CEO of the CADFund

The Liberian Government attached great importance to the visit of the delegation and received them warmly. On April 22, Vice President Boakai met the delegation and conveyed a letter from H.E. Ellen Johnson Sirleaf, President of the Republic of Liberia. On the same day, a China-Liberia Investment Forum was hosted by Vice President Boakai, which was attended by nearly 100 personages including Minister of Foreign Affairs, Minister of State, Minister of Finance, Minister of Agriculture, Minister of Planning and Economics Affairs, Chairman of the National Investment Commission, several Deputy Ministers, Chinese Ambassador to Liberia, Liberian Ambassador to China, Managers from the state-owned-enterprises and journalists.

Vice President Boakai made a welcome remark at the opening of the Investment Forum. He said that the visit of the CADFund delegation is very timely. The investment brought by the delegation is very important to the development of Liberia, because it will be the best way to guarantee the peace and security in Liberia. The proposed investment by the CADFund are all at the core of Liberia's reconstruction and development program, which will bring enormous benefits to Liberia. Vice President Boakai said Liberian side is very pleased with Sino-Liberia partnership, because it incorporates mutual respect and interest. "You, Chinese have proved to be true partners…. This is highly commendable", commented the Vice President. He welcomed Chinese investors to invest in Liberia since there are plenty of opportunities as Liberia is on the track of rebuilding its country after long civil conflicts.

Vice President Boakai hosts Sino-Liberia Investment Forum

Mr. Chi Jianxin, CEO of the CADFund, made a brief introduction to the Fund at the Forum. He said, Chinese President Hu Jintao announced at the Beijing Summit of the Forum on China-Africa Cooperation last year to set up CADFund, as one of the 8 policy measures to support Africa. It is designed to encourage Chinese enterprises to invest in Africa and support African economic and social development. The Fund was established in June 2007 will eventually reach USD5 billions. Liberia is the seventh country visited by the Fund since its establishment, which indicate the importance attached to Liberia by the Fund. He hopes that Liberia side will provide favorable conditions and the Fund will provide capital support to potential Chinese investors to promote the development of Sino-Liberia economic cooperation.

Amb. Zhou Yuxiao thanked the Liberian Government for the warm welcome and the great importance attached to the visit. He said that the visit of CADFund might mark a "turning point" in the development of Sino-Liberia economic relations, namely, from a relation of economic aid to a relation of aid and investment. Amb. Zhou said "going to the sea by making boat itself" and " going to the sea by borrowing a boat" are two ways of doing things. Absorbing and using the foreign investment is the way of " going to the sea by borrowing a boat", which is the shortcut to develop, and also one of the successful experiences of China's development. He hopes the Liberian government will make favorable investment policies to attract foreign investors, including investors from China, to speed up Liberia's reconstruction and economic development.

Chinese Ambassador Zhou Yuxiao makes remarks at the Forum

The Chairman of the National Investment Commission, Minister of Agriculture, Minister of Planning and Economic Affairs introduced Liberia's investment environment and policies. Officials and entrepreneurs from Liberian side also hold interactive discussions on the several projects with their Chinese counterparts during and after the Forum.