Monrovia, Liberia – Liberia’s Finance Minister Augustine Kpehe Ngafuan met with important representatives of the business sector on Tuesday during an inaugural interactive session held at a nearby hotel in Monrovia, marking a crucial step towards enhancing collaboration between the government and the private sector.
In a press statement from the MFDP dated October 15, 2024, Minister Ngafuan stressed the importance of the private sector as Liberia’s economic growth engine during the conference. He reaffirmed the government’s dedication to fostering an atmosphere that fosters economic growth and success.
To ensure that the private sector can effectively drive economic development, we must establish regular channels of communication, Minister Ngafuan stated.
The Finance Minister clarified that the meeting was only the start of an ongoing conversation in which the government will cooperate to put into effect practical measures while also paying attention to the demands and worries of the business sector.
Participants were given the assurance by Minister Ngafuan that the government is committed to resolving these concerns in partnership with leaders in the private sector. As Liberia proceeds to traverse its economic terrain, the Minister emphasizes the significance of collaboration between the public and private sectors.
Nuzhat Anwar, the International Finance Corporation’s Country Representative, described the meeting as a step toward fostering meaningful connections in an endeavor to advance the Liberian economy. According to Anwar, the meeting gave business executives a forum to discuss the potential and difficulties facing the industry right now.
Regulatory frameworks, financing availability, and infrastructural issues impeding company operations were among the main subjects covered. The government’s settlement of local debts, the approval of current mining regulations, and infrastructure upgrades in the areas of ports, electricity, and transportation are a few examples of feedback. Future policies that encourage sustainable economic growth will be heavily influenced by the input from these debates.
The Assistant Minister for Economic Policy, Henry D. Z. Yanquoi, the Deputy Finance Minister for Economic Management, Dehpue Zuo, and the Minister’s Chief of Staff, Edward R. Smith, accompanied the Finance and Development Planning Minister. Among the notable private sector figures present at the first talk were the president of the Liberian Business Association (LIBA), O. Natty B. Davies, II, the president of the Liberia Chamber of Mines, President Amara Kamara, executives from the banking industry, manufacturers, and regional agro-processors, among others.
Reported by: Prince Saah
Contact: +231778239813
Email: saahprince119@gmail.com
