Liberia: Commerce Minister Seeks Collaboration to Enhance Vibrant Business Climate

Liberia’s new Commerce Minister, Amin Modad, has reassured the business community of the government’s preparedness and commitment to transform the Liberian economy and restore trust in the administration of President Joseph Nyuma Boakai.

Minister Modad, who served as keynote speaker during the installation ceremony of the new corps of officers of the Liberia Chamber of Commerce (LCC), expressed his elation at the prospect of collaboration with the business community to improve the country’s business climate. 

“I am elated with the hope that we can collaborate and change the business climate and the key role that the Chamber can play in our economy,” Modad declared. “I can reassure you that we are prepared and committed to transforming the Liberian economy and restoring trust in this government.”

He underscored the pivotal role that the Chamber of Commerce can play in bolstering Liberia’s economy.

Acknowledging the extensive array of challenges faced by the business community and the economy at various levels, Minister Modad highlighted issues such as access to finance, inadequate commodities, poor infrastructure, and an unskilled workforce, among others. 

He stressed the need for collective action to address these challenges, acknowledging that while some constraints might be beyond direct influence, collaborative efforts could mitigate their impact.

Drawing from his vast experience in both entrepreneurship and public service, Minister Modad articulated his understanding of the struggles faced by businesses firsthand. 

He spoke of bureaucratic bottlenecks, excessive fees, and the daunting task of navigating regulatory hurdles. Furthermore, he underscored the importance of fostering a competitive and fair environment while combating corruption and promoting good governance.

“Our priority will be value addition and creating linkages across sectors of the country in a self-sustainable, self-sufficient manner,” Minister Modad affirmed. He outlined plans for internal reforms within the Ministry of Commerce, including the establishment of quality and standard structures to regulate imported and locally produced goods.

Minister Modad outlined a series of initiatives aimed at streamlining business processes, reducing regulatory burdens, and facilitating ease of doing business. These initiatives included modernizing business registration processes, establishing one-stop business centers, and implementing measures to improve visa and work permit procedures.

“We are committed to fostering an inclusive private sector-led economy,” Minister Modad assured the audience. 

He outlined plans for strong public-private dialogue and the establishment of a presidential roundtable business forum to facilitate collaboration between the government and the private sector.

Minister Modad reiterated his commitment to fostering an inclusive and prosperous economic environment in Liberia, heralding a new era of collaboration and growth under the Boakai administration. 

He emphasized the importance of partnership and collaboration in driving Liberia’s economic development agenda forward. “We aim to develop a culture of partnership,” he concluded, inviting stakeholders to join hands in building a prosperous future for Liberia.