Sierra Leone
A disorderly resolution of an organized conflict: The military dimension and the spread of HIV/AIDS in Sierra Leone
Sierra Leone
The preparation of national accounts statistics in Sierra Leone is undertaken by Statistics Sierra Leone. The following tables have been prepared from successive replies to the United Nations national accounts questionnaire.
The investment framework
Sierra Leone is putting in place one of West Africa's most ambitious reform agendas, which includes investment-related issues. The objectives are to improve the country's investment framework and attract FDI to revitalize economic development. After a number of years of stability and peace, substantial investment-related reforms (annex 1) have been made. In this context, chapter II reviews Sierra Leone's policy framework for investment and provides recommendations to improve it.
Managing development challenges by attracting Beneficial FDI to Sierra Leone: Main findings and recommendations
Sierra Leone is a country of important investment opportunities, endowed with rich natural resources (including minerals, fertile land, water, fish stocks and energy), a strategic maritime location, abundant labour at relatively low cost, as well as growth potential in various sectors of the economy, including services (e.g. tourism and transport), agro-business and, as expected, mining. Since 2002, the government has made significant progress, with the support of the international community, towards achieving peace and stability and the promotion of a comprehensive reform programme. In this context, attraction of FDI has become an important element of the national development strategy.
FDI Trends and impact
Sierra Leone is a country in transition from post-conflict stabilization to economic rehabilitation and growth. Following 11 years of civil war (1991–2002), which devastated Sierra Leone's social, economic and institutional conditions, political stability has been re-established as reflected in two successful presidential and district-level elections, which included a peaceful transfer of power. During this transformative period, the government has prioritized infrastructure development, reforms to domestic revenue collection and reforms supporting the development of the private sector. To support these priorities, national goals focus on increasing investment, including FDI, in the areas of energy, transport and agriculture.
Note
UNCTAD serves as the focal point within the United Nations Secretariat for all matters related to foreign direct investment, as part of its work on trade and development. This function was formerly carried out by the United Nations Centre on Transnational Corporations (1975–1992). UNCTAD's work is carried out through intergovernmental deliberations, research and analysis, and technical assistance activities.
Preface
The UNCTAD Investment Policy Reviews are intended to help countries improve their investment policies and familiarize governments and the international private sector with an individual country's investment environment. The reviews are considered by the UNCTAD Commission on Investment, Enterprise and Development.
Introduction
The civil war that ended in 2002 inflicted significant damages to Sierra Leone's investment and growth potential. Its low ranking in the Human Development Index illustrates the severity of Sierra Leone's poverty conditions.