Last week, we paid a courtesy visit with the new leadership of the Liberia Chamber of Commerce (LCC) and to discuss issues affecting the growth and development of the private sector in Liberia.
We congratulated Cllr. Oswald Tweh and his officials and exchanged ideas and views on what can be done differently to create a conducive business environment, and how the private sector could be a strong and vibrant engine for economic growth, to create jobs for Liberians.
Our discussion ranged from the challenges and difficulties of doing business in Liberia, access to credit facilities, lack of investment incentives, support and infrastructures, unfair competition, as well as stringent government regulations, and official misconduct.
It would be difficult to attract foreign direct investments in this environment, if nothing changes. Overregulation of the private sector, bribery, weak judicial system and difficulties in starting and doing business in Liberia are all factors that prohibit foreign direct investments. There is a need to revisit and simplify business regulations, fees, taxation, as well as stop the stealing and solicitation of bribes by public officials.
When elected, a Cummings administration would prioritize, the growth of the private sector and job provision. Our primary focus would be to ensure businesses at every level have access to credit facilities, in order to grow and expand.
This includes our agro-businesses, where farmers would be supported, having access to credit opportunities, and the relevant institutions including an Agriculture Bank would be revamped to make farming profitable. Other issues like farm to market roads and provision of storage facilities to preserve surplus produce by farmers, will also be prioritized.
Congratulations again to Cllr. Oswald Tweh and his team. We truly appreciate the warm welcome and exchange of ideas and views on how to grow and develop our private sector.