Grand Cape Mount County Senator Simeon Boimah Taylor, barely a year of Representation says Liberian economy is hijacked due to the absolute non-involvement of Liberians.
According to the lawmaker, the economy is hugely being controlled by foreign direct investment; something according to him is the result of the poor social development of Liberians.
Senator Taylor disclosed that with the level of foreign direct investment in Liberia, a population of approximately 4 million people should feel the impact of those investments.
Speaking further, the Grand Cape Mount County Senator stated that “If Liberians are not making decisions in their economy and the larger portion is being controlled by foreign investors than our economy is hijacked.”
The Grand Cape Mount County senator who is also chairman of the Senate’s Committee on Lands, Mines and Energy expressed contrary view of the World Bank 2021 report projecting Liberia’s economy to expand by an average of 4.9% in 2022-2023 stating that an economic growth that doesn’t influence the lives of the citizenry is a statistical growth.
The Liberian lawmaker also questioned government’s policy which specified ownership restrictions to few sectors and industries to be operated by only Liberians according to the Investment act and Revenue code of Liberia.
According to Senator Taylor, this policy is not being enforced by the requisite government functionaries.
The Grand Cape Mount County lawmaker furthered mentioned that enforcement of government’s policies and regulations will greatly help keep the control of local markets or industries in their citizens’ hands.
“National Investment Commission, Ministry of Labor, Ministry of Commerce and Industry should effectively enforce government’s policies and regulations which will help keep the control of local markets or industries in our citizens’ hands,” he said.
Senator Simeon Taylor however challenged the Ministry of Labor to disprove his assertion that Chapter 2, Subchapter D, Section 75 of the Liberia Labor law is not being violated by foreign investors.
”Except for administrative, supervisory, or technical positions, it shall be unlawful to hire an alien employee unless and until the list of qualified Liberians has been exhausted or there is no qualified person on the list capable of performing the job to be filled” Labor Law.
Senator Taylor argued that foreigners are drivers, store-boys and even receptionists in foreign corporations, something Senator Taylor referred to as opportunities for Liberians.
The Liberian lawmaker has however encouraged his colleagues to keep the feet of the Executive to the fire by initiating appearances of line government institutions including National Investment Commission, Ministry of Labor, Ministry of Commerce and Industry.
“In the spirit of Lawmaking, Oversight, and Representation which are our three cardinal functions, I encouraged my colleagues to keep the Executive feet to the fire by initiating appearances of requisite government functionaries,” he said.
Senator Taylor also cautioned Liberians to take advantage of restricted sectors and industries foreigners are prohibited to operate.
Simeon Taylor equally pleaded with Liberians who are high income earners to also invest in these restricted sectors and industries including Supply of sand, Block making, Travel agencies, Retail sale of rice and cement among others.
He stated that this will put Liberians in competition with foreign investors and create job opportunities.
