By Stephen N. Tokpah-Bong (freelance)
The Minister of Commerce & Industry, Amin Modad, has embarked on a nationwide tour in his quest to address commerce challenges and champion sustainable business practices in Liberia.
The tour is part of the MOCI’s broader strategy to empower local enterprises and stimulate economic activities outside the capital, Monrovia.
In Gbarnga, Bong County’s administrative capital, Minister Modad told journalists on September 17, 2024, that the primary objective of the tour is to identify specific challenges facing local businesses and discuss ways to bolster commerce.
According to Minister Modad, his itinerary included stops at Business Registration Centers in Margibi, Bong, and Nimba counties, where he and his team met with local officials and business owners to gauge market conditions and explore avenues for economic growth.
“We are here to evaluate the market environment and see what steps the government can take to improve the business climate,” Modad told reporters after a visit to Gbarnga General Market, where he directly engaged with traders and entrepreneurs.
He added: “Our focus is on empowering the Liberian people by fostering an environment that supports small businesses and promotes job creation.”
Minister Modad emphasized the need to tailor economic development efforts to the unique strengths and comparative advantages of each county.
He further revealed that there is a need for leveraging the county’s potentials in agriculture & food processing, forestry, and mining, as part of the government’s strategy to spur decentralized growth.
“We need to build the county’s development around these comparative advantages to create jobs and improve the livelihoods of the people.”
He further stressed the importance of investing in young people and women, whom he calls “the backbone of the President’s ARREST agenda.”
According to the minister, targeted support for these groups will be key to unlocking the potential of Liberia’s rural economies.
During the Gbarnga interaction with reporters, Minister Modad addressed concerns about commodity prices, particularly gasoline.
He acknowledged the challenges posed by global market fluctuations, but assured reporters that the government has been working to stabilize prices in Liberia.
“For the past six months, we have seen a consistent downward trend in gasoline prices, and we are committed to continuing this trajectory,” Modad noted.
He added that while Liberia is not immune to global market conditions, the Ministry of Commerce is working to cushion the impact on Liberian consumers.
However, Minister Modad also highlighted one of his administration’s key achievements: increasing Liberian participation in the country’s economy.
Since taking office, he has issued 12 permits for the importation of rice, all to Liberian-owned businesses, a key departure from past practices where foreign entities dominated essential imports.
“We want to decentralize economic activities and take them out of Monrovia,” Modad said. “The only way to do this is to fully understand what we inherited and build from there.”
As part of the tour, Minister Modad praised the increase in business registrations in Margibi, Bong, and Nimba counties over the last few months.
He pledged to improve service delivery at the registration centers, announcing that the Liberia Business Registry is in the process of implementing a new digital registration system.
This digital system, according to Modad, is designed to reduce bureaucracy, curb corruption, and significantly shorten the time it takes for businesses to register. “By improving our human-to-human transactions, we will make it easier for businesses to start and grow, creating more jobs for Liberians,” he concluded.
