PRESIDENT GEORGE MANNEH Weah, in his speech Monday reiterated his support for Liberian owned businesses, telling Liberians in his first speech on the state of the dismally-performing economy that his administration intends to embark upon a major push to ensure that Liberia becomes more competitive in terms of domestic production.
SAID PRESIDENT WEAH: “And in so doing, we intend to encourage and empower Liberian businessmen and Liberian-owned businesses to lead the transformation of the Liberian economy. We will enable them to become more competitive, by providing affirmative policies and support, including ready access to finance and expertise.”
IRONICALLY, the President has had at least three meetings with foreign business owners compared to only one with representatives of Liberian-owned businesses since his inauguration.
WHILE WE ARE IN TOTAL agreement with the President that the “the key to success in this endeavor is for Liberians to produce more goods and services locally, so that we reduce our importation of goods and services from abroad, whilst at the same time increasing our exports and adding value to the raw materials that we ship to the world,” we feel strongly that the President and his advisors are paying lip service to the plight of Liberian-owned businesses.
ALL THIS CONTRADICTS the President’s inaugural day pledge in which he said he would ensure that Liberians will not be spectators to their own economy. “As we open our doors to all foreign direct investments, we will not permit Liberian-owned businesses to be marginalized. We cannot remain spectators in our own economy,” President Weah said. He went on to say that his government will prioritize the interests of Liberian-owned businesses and offer programs to help them become more competitive. “We will offer services that international investors seek as partners.”
SHORTLY AFTER his inauguration on February 1, 2018, the President met in the audience the importers of rice, dominated mostly by foreign investors and stepped up efforts to ensure the price of the nation’s staple food is substantially reduced and made affordable for ordinary Liberians.
DURING THAT MEETING the President said it was intolerable that in the midst of acute hardship and mass unemployment the price of rice continues to increase, adding: “I am ready to work with you and resolve all the issues that underpin the galloping price of rice so that our people will afford to buy. If the government-imposed tax is an issue, you can rest assure that my government is more than ready to grant reasonable adjustments in the tax regime to make the reduction of rice price possible,” the President said.
IN A FEBRUARY 5, 2018 meeting with a delegation of the Liberia Business Association (LIBA) in the C. Cecil Dennis Auditorium at the Ministry of Foreign Affairs in Monrovia, applauded the President for taking the lead in listening to their plight.
THE PRESIDENT reassured the LIBA group of his government’s continued support and commitment in making sure they succeed. The President re-emphasized that Liberian businesses will prosper under his administration; that Liberians will no longer be spectators in their own economy and promised to meet with stakeholders who are connected to the business sectors of Liberia to ensure that Liberian businesses are developed.
LAST WEEK, THE PRESIDENT met with several members of the business community in a roundtable discussion looking to showcase policies aimed at fixing problems in the economy and efforts the administration is making toward a favorable business environment. The President assured the business community that his administration remains committed toward the creation of a conducive commercial environment for all businesses in the country. The President went on to explain that factors responsible for the current inflation in the country are now been addressed by his administration stressing that he has put into place several measures to mitigate the problems.
THE PROBLEM WITH that meeting was that a lot of prominent Liberian business leaders were omitted.
TODAY, SOME Liberian businesses are hurting because the government is not protecting them from foreign invasion.
BUSINESS ICONS like Eyvonne Bright-Harding, CEO, SHARK’s Entertainment Incorporated, who has been on the receiving end of this was elated and even embraced the idea to prioritize Liberian businesses. “We hope that the laws that already exist are fully implemented: laws concerning businesses set aside for Liberians. Laws are already on the book to protect our businesses, but they are not being implemented. We hope that he (President Weah) can prioritize their implementation by having good lieutenants around him.”
BRIGHT’S WELL-DOCUMENTED battle over her ice cream business is just one of many.
BUSINESSMAN AMIN MODAD’s water and hotel business could benefit from a boost as could various market men and women who are eager to feel part of the local economy. The likes of Sam Gibson and scores of other Liberians engaging in rice and other agriculture products are desperately in need of help with processing and preserving their farm products. This should be the direction Liberia should be pushing if we must save the economy from total collapse.
IT IS OUR HOPE that the Ministry of Commerce and Industry, which is the implementing arm will ensure that the laws relating to businesses set aside for Liberians will be implemented to the fullest. This is the only way local businesses will be empowered to compete with foreign businesses.
WHAT THE WEAH ADMINISTRATION should be doing now is empowering local businesses owners by giving them the same tax breaks that are given to foreign businesses.
IT IS REALLY UNFAIR to aid outsiders while Liberians are struggling just to stay afloat.
PRESIDENT WEAH has talked the right stuff – on more than one occasion, we are simply urging and encouraging him to take it a step further by doing all he can to level the playing field for everybody while giving those from the soil the extra impetus they need to battle with their foreign business counterparts.
