The Director General of the National Social Security and Insurance Trust has informed the Minister of Employment, Labour and Social Security that NASSIT has signed a Memorandum of Understanding with Liaoning Xinchi Industrial Development Company Ltd regarding tourism and infrastructure.

Mr Mohamed Fuaad Daboh made this disclosure during a courtesy visit to Hon Mohamed Rahman Swarray at his New England office in Freetown on Friday, 5th December 2025. Introducing the team, Director General Daboh informed the Minister that, in an effort to implement PricewaterhouseCoopers’ recommendations and to improve on the Trust's investment portfolio, NASSIT has engaged several investors both within and outside the country. “Today's meeting,” he went on, “is a testament to these engagements,” adding, “This group of Chinese investors has expressed interest in partnering with NASSIT to invest in tourism and infrastructure, particularly in the Radisson Blu Mammy Yoko and the Golden Tulips Kimbima Hotels.”

The Director General further informed the Minister that Liaoning Xinchi Industrial Development Co., Ltd has made several presentations to NASSIT, including its profile, which details the areas and nature of engagement it seeks with NASSIT. “I am pleased to inform you that we have signed a Memorandum of Understanding with this group, which has demonstrated a strong commitment to investing in our country,” he revealed. According to Mr Daboh, the MOU signifies the start of a fruitful partnership that will promote positive economic growth and development in the country. “I am confident that with the support of these investors, we will not only transfer the NASSIT investment portfolio but also create new opportunities for our people and further strengthen our country's competitiveness on the global stage,” he concluded.

Welcoming the team, the Hon. Minister expressed his enthusiasm about such a significant venture, describing it as a golden opportunity. He recognised the importance of swiftly implementing the PwC recommendations and transforming the institution's fortunes. According to the Minister, His Excellency the President, Brigadier Retired Julius Maada Bio, is eager to elevate Sierra Leone to a middle-income country by creating an enabling environment and a viable investment platform.

“I look forward to working closely with the team to ensure the successful implementation of our shared goals and objectives. Together, we can build a better future for our country and its citizens,” the Minister said.

Speaking on behalf of Liaoning Xinchi Industrial Development Company Ltd, the Chairman Zhao Hai Feng expressed his appreciation to NASSIT for its willingness to partner with his company in its efforts to invest in the tourism sector in Sierra Leone.

He further disclosed that his organisation is prepared to collaborate with NASSIT for potential redevelopment, upgrading, or construction of facilities on the land housing the Radisson Blu, Mammy Yoko Hotel, and the Golden Tulip, Kimbima Hotel. “As investors, we are excited to be part of this project, and we are confident of its success. We look forward to working together with all parties involved to achieve our common goals outlined in this MOU,” he concluded.
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