When elected, president of Liberia, Alternative National Congress (ANC) Standard Bearer Alexander B. Cummings says his administration would prioritize the growth of the private sector and job provision.
He said his primary focus would be to ensure businesses at every level have access to credit facilities, in order to grow and expand.
This, he pointed out, 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.”
Mr. Cummings made the statement when he paid a courtesy visit with the new leadership of the Liberia Chamber of Commerce (LCC) to discuss issues affecting the growth and development of the private sector in Liberia.
Mr. Cummings congratulated Cllr. Oswald Tweh and his officials 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.
Cummings discussion with Tweh and the team also centered around 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.
The ANC flagbearer says 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, he told the meeting, adding that 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.
He thanked the chamber of commerce for the warm welcome and exchange of ideas and views on how to grow and develop the private sector.