The Minister of Finance and Development Planning, Augustine Kpehe Ngafuan, has emphasized the importance of developing a Liberian-specific version of the “Doing Business Survey.”
Minister Ngafuan stated that such a survey should not be implemented simply to meet the demands of international institutions like the International Monetary Fund (IMF) and the World Bank. Instead, it should reflect the nation’s internal priorities and commitment to improving its business climate.
He proposed that a Liberian Government-Business Dialogue could serve as a vital platform for engaging heads of State-Owned Enterprises (SOEs) to identify specific goals and set clear timelines for achieving them.
The Minister also committed to holding quarterly meetings with the Liberian Business Authority and the Liberian Chamber of Commerce. He described these engagements as critical for policy discussions and soliciting innovative ideas to enhance the business environment.
“To improve the business environment, we need to take deliberate actions,” Ngafuan said. “These actions must be well-planned and executed in collaboration with private sector actors.” He expressed his commitment to working closely with the private sector to identify challenges and implement practical solutions.
Ngafuan highlighted the government’s ongoing efforts to develop policies that promote inclusive growth, noting that the ARREST Agenda for Inclusive Development will succeed the Pro-Poor Agenda for Development. He explained that this five-year national development plan has been formulated with significant input from development partners and other stakeholders.
Addressing fiscal priorities, the Minister disclosed that the government took bold steps in formulating the FY2025 budget to tackle key constraints to economic growth. For instance, he pointed out that inaccessibility due to poor road infrastructure in some regions has led to an oversupply of goods in certain areas, which exceeds local demand.
Minister Ngafuan made these remarks as a guest speaker at the Liberia Chamber of Commerce Business Luncheon held on Thursday, November 21. The event was attended by prominent stakeholders, including U.S. Ambassador Mark Toner, EU Head of Delegation Ambassador Nona Deprez, and several leaders of Liberia’s private sector.
The luncheon provided a platform for discussing strategies to unlock Liberia’s business potential and address challenges impeding growth, reaffirming the government’s commitment to fostering a more conducive business environment.
