Augustus J. Flomo, Deputy Finance Minister for Economic Management, has informed international partners that President George Weah-led government is focused on having institutional mechanism to tap their capital and knowledge for the accelerated development of the country.
Minister Flomo made the comment when he led a high-powered Liberian delegation at the 108th Session of the African Pacific Caribbean (ACP) Ministerial Council and European Union (EU) Meeting in Brussels. He praised ACP-EU for their wonderful contribution to Liberia’s development.
ACP countries comprises of 79 countries in Africa, 16 from the Caribbean and 15 from the Pacific. European Union and the ACP Group began in 1975 with the First Lomé Convention.
Flomo outlined some measures taken by government as human capital development, digital economic and E-Governance as the four core areas highlighted in government’s development plan.
He also highlighted road, electricity expansion, agriculture diversification that will help to improve on food security and job opportunities for Liberians.
Minister Flomo recalled that in November last year, the government completed the country’s development plan with the goal of lifting one million citizens out poverty in the next five years.
He said that the government under the leadership of President Weah has embarked on a “very critical sector development’s program by recognizing that the private sector has a very important role to in delivering our services to the population.”
He added, “We considered sustaining our peace as critical in improving governance and providing opportunity for private sector to strive.”
“In that light, the government continues to look at specific programs that targets the private sector of supporting its development agenda, as well as economic expansion program,” Flomo said.
He also expressed the belief that a smart and comprehensive private development programs that is unique to “our country will support our development agenda under the ACP-EU private sector development framework.”
According to him, the government also believes that with a strong support of the private sector, “our domestic revenue generation capacity can be increased, thereby providing the opportunity to raise more domestic revenues that will support our development agenda.”
Minister Flomo added, “Along the path of the private sector, we have identified access to finance, market, and capacity-building of entrepreneurs and the regulatory framework as issues that have posed challenged to the government.”
He said the government and its partners, including the EU, and others should continue to work in expanding “our economic agenda, and working with the small, medium enterprises (SMEs) sector to enhance its capacity to increase productivity and efficiency in our private sector for delivery.”
Minister Flomo used the occasion to encourage the ACP-EU private sector framework to localize and program framework that will develop the private sector with specific focus on unique characteristic of “our individual economics.”
“We believe that achieving our development agenda, and promoting private sector growth will support our economic expansion plans, and thereby creating more jobs and opportunities in our local economy,” he added.