MONROVIA – Former Finance Minister, Amara Konneh, has outlined several tasks ahead to be accomplished if the incoming administration headed by former Vice President Joseph Boakai should attract needed foreign investments into the country.
Boakai’s predecessor, former soccer star George Weah’s regime, all through its six-year span, fell short of attracting a single foreign direct investment, a situation that strained the country’s economy resulting to the Government solely relying on domestically gathered revenues that were to a large extent reportedly siphoned allegedly by public officials.
Howbeit, Konneh has disclosed that for the incoming Boakai leadership to get all the foreign investments it needs to boost the Liberian economy, the administration among other things, needs to do more to improve institutions responsible for business regulation in the country.
Konneh, who along with other members of a special team of the incoming administration on a trip in the United States, has recently been pivoting from bilateral and multilateral engagements to laying the foundation for attracting new foreign investment in Liberia, has also called on the new leadership headed by Boakai, to concentrate on the enforcement of contracts, as well as strengthening the rule of law, if foreign investments should flow into the country during the reign of the former VP, now President-elect.
Konneh also recommended that under Boakai, if foreign investments would be attracted into Liberia, the Government of Liberia must ensure the cleaning up of the country’s judicial system, which is deemed inherently corrupt by many.
Meanwhile, Konneh has been holding talks with several U.S. business tycoons, many of whom are leaders for mega companies having business ties in Africa.
According to Konneh, he explored opportunities to convene a roundtable for Liberia in New York, the United States, but did not disclose exactly when such a business-oriented confab would occur. However, he’s hopeful that it will be convened when the investment climate improves again for those he referred to as current and future serious investors.