The_Open_Door_deel1

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by Fouad Khalifa, a Lebanese, who is also the majority
owner of one of the major Lebanese commercial houses,
Younis Bros. & Company, Inc.
- Liberia Refining Company: producing refined oil; 291 employees;
operating under a concession agreement dating from
1961 although actual operation began only in 1969. An explosion
in 1976 caused a shutdown of operations at the refinery
and in 1978 the Liberian Government bought the company
from its U.S. owners, Sun Oil International (67%) and
Dynalectron Corporation (18$). Liberian private citizens
already held 15 percent of the capital stock of the company.
- LIDCO Distilleries: producing spirits; 125 employees;
operating without a concession agreement.
- the Mesurado Group of Companies? producing a large variety
of different products; 464 employees; operating without a
concession agreement.
- Monrovia Breweries Inc.; brewing of beer and related beverages;
294 employees; operating under a concession agreement
dating from 1956.
- Pioneer Biscuit Factory: manufacture of biscuits; 105 employees;
operating without a concession agreement.
Another foreign owned industrial establishment worth mentioning
here is the West African Explosives and Chemicals, Ltd. (EXCHEM),
operating in Charlesville, Marshall Territory and in 1977 employing
98 people (20K The company is majority owned by Canadian
Industries Limited of Montreal, Canada (CIL). The latter assumed
majority ownership in 1970 when it bought the shares of the
founder of EXCHEM, Joseph Baird of New York. The concession agreement
dates from I962 and production started in 1964.
0veralls industrial activities never accounted for more than 8
percent of G.D.P. during the 1970's and were reported to be valued
at $ 53.7 million in 1978 (see Annex 47). These figures should be
handled carefully since one does not know how they have been calculated
and given the absence of a proper and reliable reporting
system in the country.
Given the size and importance of the domestic market, and the
level of training and education of the labour force it is not
surprising that foreign investors have shown little interest in
investing in industrial activities in the country. The low purchasing
power of most Liberians has resulted in a very small domestic
market for industrial products whereas the low professional
level of the Liberian labour force has created the problem of
qualified labour. The educational system which put more emphasis
on the education of future preachers and politicians (see Chapter
10) than on vocational and technical training has resulted in an
abundance of unqualified labour which makes investments in extractive
and plantation activities even more attractive than they
already were. Liberia's potential, given the country's availability
of raw materials, already drew the attention of foreing investors
and the availability of a low paid unqualified labour force
only made any investment in extractive or plantation activities
more attractive.