By Bill W. Cooper
A group of local businesses under the banner ‘Concerned Liberian International Businesses Association (COLINBO) has proffered series of recommendations to President Joseph Boakai on how to improve the country’s business sector.
In a meeting with the President yesterday, at his Executive Mansion office in Monrovia, the group begun by congratulating the President on his election victory as well as step taken to assist local businesses.
Key amongst these initiatives is the government’s decision to grant Liberian businesses rice import permit and negotiations to obtain funding from the World Bank and African Development Bank for Liberian SMEs.
In their meeting with the President, the group also discussed the challenges they face, thereby proposed solutions to boost economic growth and create a more conducive environment for businesses to thrive.
In their recommendations to President during the visit, COLINBO pleased with Boakai to review and reform the country’s tax regimes with the aim of providing tax incentives for Liberian businesses.
The group also wants the President to appoint Liberian entrepreneurs to boards of state-owned enterprises and regulatory agencies whose functions have bearings on businesses as having private sector representatives on such boards will business-minded decision making.
COLINBO, in its statement further asserted, “We are also calling on the government to help create the enabling environment for us to easily connect with our foreign counterparts to buttress government’s efforts in improving our country’s economy.”
COLINBO’s president, Joseph Kodah and the Board Chairperson Fomba Trawally further disclosed that one of the key issues affecting the business community is the high cost of doing business in the country.
They also named lack of infrastructure, including reliable electricity and transportation and good roads connectivity as major factors that has also led to increase in operating costs for businesses.
In addition, both Kodah and Trawally mentioned the complex and lengthy bureaucratic processes for obtaining permits and licenses, which they said have hindered the growth of small and medium-sized enterprises.
To address these issues, the two COLINBO executives called for the government to streamlining the process for obtaining permits and licenses, to make it easier for businesses to operate in the country
They at the same time emphasized the importance of creating a level playing field for all businesses operating in Liberia, regardless of status of business personnel and the sector as a whole.
In remark, President Boakai reiterated his government determination to ensure Liberian businesses take over their own economy as well as ensuring job opportunities for all Liberians irrespective of one’s political or religious affiliation.
The Liberian at the same time frowned on foreign investors who he said are only taking away from the country and vowed to ensure that foreign investors working in Liberia meets the country demands and help Liberian on their investments.
Boakai then welcomed the recommendations from the business community and pledged to work with them to implement the proposed solutions, emphasizing the importance of the private sector in driving economic growth and creating jobs in Liberia.
“I am committed to working with the business community to address the challenges they face and create a more conducive environment for businesses to thrive and by working together, we can unlock the potential of Liberia’s business sector and create a brighter future for all our citizens,” he added.
