Liberia Market Entry

Liberia Market Entry

Subchapters:

  • Market entry
  • Forms and conditions of operation on the market
  • Marketing and Communications
  • Issues of intellectual property protection
  • Public procurement market
  • Payment terms, payment ethics and resolution of commercial disputes
  • Visas, fees, specific conditions of travel to the territory
  • Employment of citizens from the Czech Republic
  • Fairs and events

Market entry

According to cheeroutdoor.com, consumer goods are mostly imported and distributed by (especially Lebanese) wholesalers. Importers of more luxurious goods usually buy directly from the manufacturer. An additional role is played by the national mining fair. In addition to the factors operating in all the countries of the region (low purchasing power, geographical distance, laboriousness of cases, the question of seriousness of the partner, corruption…) there are also specific factors – the absence of a contractual base, orientation towards traditional (mainly American) partners (donors/suppliers) and an extended system of frauds of the so-called Nigerian type, incl. of the Internet (fraudsters are very inventive and aggressive – in addition to financial loss there is also a risk of physical harm) A condition for successful business is establishing a relationship with a local, reliable partner (importer, distributor, representative) with good contacts.

Forms and conditions of operation on the market

The market is liberal. Foreign investments are not restricted (even a company with 100% foreign ownership can be registered), holding land by foreign owners is not allowed. (Technically immature, but cheap) work. power is available, the tax burden is small. Play companies can operate locally as Locally Incorporated Entities or multinational branches, but a local residential address (resident agent/office) is required. The procedure for establishing a company is relatively undemanding in terms of formality (theoretically within 48 hours). After registering the name and status of the company (Articles of Incorporation) and submitting the application in the semi-autonomous state agency (Liberia Business Registry – one-stop-shop) and depositing the fee in the bank (LD1400), the applicant will receive a confirmation (Journalizing Slip) on the spot.

Marketing and communication

Advertisements in the media, advertising on radio or television.

Due to the low quality of services, however, it is recommended that Czech companies purchase advertising and promotional materials from Czech companies.

Marketing research. One of the companies doing marketing research in Liberia: http://www.mblent.com/

Advertising Agency. Liberia Advertising Company Link: http://www.championdesignsinc.com/

Newspaper advertisement. Overview of online newspapers in Liberia where you can advertise: http://www.onlinenewspapers.com/liberia.htm

Liberia Television TV commercial – liberiatelevision.com LNTV Liberia

Advertisement on Star RadioCommunity Radio

Issues of intellectual property protection

Protection of privacy property/investment is guaranteed by the Liberian Constitution (including the 2010 Investment Act). However, the government focuses on solving the basic existential problems of the population, the protection of intellectual property is not one of its priorities. Intellectual property laws in Liberia cover areas such as domain names, traditional knowledge, technology transfer and patents/copyrights etc. The Liberia Intellectual Property Law 2014 was passed into law in June 2016 and provides the legal and administrative framework for protection of copyright and industrial property rights. The law calls for the establishment of the Liberia Intellectual Property Office (LIPO), a corporate semi-autonomous agency operating under the supervision of the Ministry of Trade and Industry (MOCI) Liberia is a member of the hl. limit. conventions – Bern, Lisbon, Madrid, Paris, Vienna, Washington; WIPO/World Intellectual Property Organization). The Copyright Office (CRO) and the Industrial Property Office (IPO) became the supervisory authority. However, the personnel capacity of both institutions is weak, and the implementation of measures (enforcement in practice) is inadequate. A number of fakes are circulating (tarmacs, cosmetics, clothing, software/hardware, films, songs, etc.), fees for broadcasting rights are not paid. Intellectual property must be specifically mentioned when importing/registering a company (Import Permit, Business Registration Form). cosmetics, clothing, software/hardware, films, songs, etc.), fees for broadcasting rights are not covered. Intellectual property must be specifically mentioned when importing/registering a company (Import Permit, Business Registration Form). cosmetics, clothing, software/hardware, films, songs, etc.), fees for broadcasting rights are not covered. Intellectual property must be specifically mentioned when importing/registering a company (Import Permit, Business Registration Form).

Public procurement market

Local public procurement agency Public Procurement and Concessions Commission publishes information in the daily press. The PPCC Act 2010 allows procuring entities to decide how public procurement notices and awards are published. International tender:

International competitive bidding (ICB) is used whenever open tendering is used and local suppliers cannot be obtained unless they are invited to bid by a foreign firm. All international documents submitted must be in English. The call for tenders or the call for pre-qualification shall be published in the Public Procurement Gazette, the gazette, the national print media of wide circulation and the electronic media and, where applicable, also the selected international media.

National Tender: The call for tenders or call for pre-qualification will be published in the Public Procurement Gazette, Gazette, national print and electronic media and, in the case of the ICB, in selected international media. In National Competitive Bidding (NCB) tenders, only domestic suppliers or contractors are authorized to submit bids. International companies can register locally and can also bid through local partners. If an international company is not registered in Liberia, the law allows the local partner of that company in Liberia to submit a bid on their behalf in a national competitive bidding process.

Restricted Tendering: Restricted tendering is used when the goods, work or services are available only from a limited number of bidders; in addition, if the time and cost of evaluating a large number of bids is disproportionate to the estimated value of the tender. The call for tenders or call for pre-qualification shall be published in the Public Procurement Gazette, Gazette, national print and electronic media and, in the case of the ICB, in selected international media. The opportunity to submit bids is limited only to suppliers who have been sent an offer to submit bids by the procuring entity.

Payment terms, payment ethics and resolution of commercial disputes

The Liberian legal system was adopted from the US (the judicial hierarchy rests on the Supreme Court and subordinate tribunals). Anglo-American customary law (Common Law) was supplemented by provisions of traditional law (Local Customary Law). The weakness of the system is the still low evaluation of judges (judgments can in principle be bought, including companies are at a disadvantage) and long trial periods. The Commercial Code was adopted, the Commercial Court was established (September 2011). However, the bankruptcy law does not yet exist (mandatory/voluntary liquidation of institutions is governed by the Financial Institutions Act, 1999). In any case, it is recommended to include a provision in the contract, on the basis of which any arbitration would take place outside the country, to give priority to out-of-court negotiations when resolving disputes. More information: http://judiciary.gov. lr/commercial-court/ Risks The Liberian market is small, with rel. weak absorption potential, it is price-oriented. A Czech company must be prepared for a certain degree of instability, non-standard procedures and actions of partners, opaque laws, high corruption, low qualification of the workforce, poor infrastructure. Investments are still more or less uninsurable, you have to count on practice. difficulties in enforcement or receivables. Government guarantees are provided but do not guarantee actual payments. Infrastructural coverage as well as the banking system are a challenge. Payment Terms and Morality There is no agency that would be able to check the reliability of a business partner.

Liberia Market Entry