Monrovia, Liberia – The necessity for the nation to create its own version of the “Doing Business Survey” has been emphasized by Augustine Kpehe Ngafuan, Minister of Finance and Development Planning.
According to him, the study should be driven by the need for the nation to do it rather than because the IMF and World Bank have asked Liberia to so.
A Liberian Government-Business Dialogue, he continued, will offer a forum for interaction with the leaders of State Owned Enterprises, from which certain objectives may be set with the aim of accomplishing them within a given time frame.
The finance minister promised to meet with the Liberian Chamber of Commerce and the Liberian Business Authority on a quarterly basis.
According to the Minister, he views the gathering as a “top policy engagement” with the goal of hearing different perspectives on how to enhance the economic environment in the nation.
He proposed that “we (the government) need to take some actions, but we need to plan the actions that we take” in order to enhance the economic environment. He stated that he plans to interact, collaborate, and take action with private sector actors.
Minister Ngafuan further stated that the government is working on a number of initiatives, the most significant of which is the ARREST Agenda for Inclusive Development, which replaces the Pro-Poor Agenda for Development.
He said in creating the nation’s five-year national development plan, the administration has heavily included partners and other stakeholders.
Additionally, Minister Ngafuan disclosed that the government made important steps to remove growth obstacles in the development of FY2025, which he believes would unlock the nation’s commercial potential.
He elaborated on the limitations, stating that, for instance, there is an excess supply of some items that far exceeds demand in some areas because they are inaccessible (due to poor roads).
Minister Augustine Kpehe Ngafuan was the guest speaker at the Liberia Chambers of Conference Business Luncheon on Thursday, November 21, 2024, in Monrovia.
A number of partners attended the event, including numerous leaders from the Liberian business sector, US Ambassador Mark Toner, and EU Head of Delegation Ambassador Nona Deprez.
