The Director General of the National Social Security and Insurance Trust (NASSIT), Mohamed Fuaad Daboh, has informed the Minister of Employment, Labour and Social Security that NASSIT has signed a Memorandum of Understanding (MOU) with Liaoning Xinchi Industrial Development Company Ltd for investment in tourism and infrastructure.
Mr. Daboh made the disclosure during a courtesy visit to Minister Mohamed Rahman Swaray at his New England office in Freetown on Friday, 5th December 2025. Introducing the delegation, he said NASSIT has been engaging investors at home and abroad in line with PricewaterhouseCoopers’ recommendations and efforts to strengthen the Trust’s investment portfolio.
“Today’s meeting is a testament to these engagements,” he stated. “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 Golden Tulip Kimbima Hotels.”
He further noted that Liaoning Xinchi Industrial Development Co., Ltd had made several presentations to NASSIT, including a company profile outlining proposed areas of collaboration. “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,” Mr. Daboh said. He added that the MOU marks the beginning of a partnership expected to drive economic growth and create new opportunities for Sierra Leoneans.
Welcoming the team, Minister Swaray described the initiative as a “golden opportunity” and emphasised the need for swift implementation of the PwC recommendations to transform NASSIT’s investment landscape. He noted that President Julius Maada Bio is committed to positioning Sierra Leone as a middle-income country by creating a favourable investment environment.
“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, Chairman Zhao Hai Feng expressed appreciation to NASSIT for the partnership and reiterated his company’s interest in investing in Sierra Leone’s tourism sector. He said the organisation is prepared to collaborate with NASSIT on the redevelopment, upgrading, or construction of facilities on the properties 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 confident of its success. We look forward to working with all parties involved to achieve the goals outlined in the MOU,” he concluded.
