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Monday, June 17, 2024

WEAH GOVERNMENT GIVES LOW KEY RESPONSE TO US INVESTMENT CLIMATE REPORT ON LIBERIA

Date:

LIBERIA – The Liberian Government has given a low-key response to the damaging 2022 Investment Climate Report on the country by the United States Department of State.

The United States 2022 Investment Climate Report revealed that the George Weah Government does much to discourage investors and investment in Liberia.

The statement revealed that some business leaders report that it is difficult even to meet with Liberian government representatives to discuss new investments or policies damaging to the business climate in the country.

According to the US Government Statement, a weak legal and regulatory framework, lack of transparency in contract awards, and widespread corruption inhibit foreign direct investment.

The statement adds that  Investors are often treated as opportunities for graft, and government decisions affecting the business sector are driven more by political cronyism than investment climate considerations.

According to the statement, many businesses find it easy to operate illegally if the right political interests are being paid, whereas those that try to follow the rules receive little if any assistance from government agencies.

But the Weah Government thinks otherwise. When the Liberian Government was contacted for its response by Smart News Liberia shortly after the release of the report, Information Minister Legerhood Rennie responded with a paragraph WhatsApp comment: “The Report does not take into account the current realities and substantial gains made in our macroeconomics management system..’ Mr. Rennie did not elaborate.

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Smart News Liberia is an online news outlet and a product of Smart Media Group Inc. Our website, smartnewsliberia.com, covers a broad spectrum of news content. For inquiries or information, you can reach us at 0777425285 or 0886946925, or email us at smartnewsliberia@gmail.com or info@smartnewsliberia.com.

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