Finance Minister Calls for Stronger Collaboration with Business Community to Boost Liberia’s Revenue
Monrovia, Liberia – Finance and Development Planning Minister Augustine Kpehe Ngafuan has highlighted the vital role the business community plays in increasing the country’s revenue.
Minister Ngafuan chaired a high-level stakeholders' meeting on Tuesday at the Freeport of Monrovia, bringing together key players from the business sector to discuss operational bottlenecks and identify immediate solutions.
“We have a Budget, and we need to raise the revenue over a twelve-month period, and the business community is a key partner in this endeavour,” Ngafuan stated.
He emphasized that, for Liberia’s economy to thrive through effective revenue generation, it is crucial to tackle the challenges facing the business sector.
Minister Ngafuan explained that this stakeholders’ meeting was a follow-up to initial discussions with the private sector held in October of the previous year.
“The private sector is the engine of growth for Liberia’s economy,” said Minister Ngafuan.
“To ensure they can effectively drive economic development, we must foster consistent communication and a conducive environment for business prosperity.”
Focusing on the Freeport of Monrovia, Minister Ngafuan described it as the “gateway to the economy,” stressing that overcoming the challenges there is critical for sustained economic growth.
In her remarks, Commerce and Industry Minister Marthaline Dagoseh expressed the government’s deep concern about trade issues, recognizing the importance of ongoing dialogue with the business community.
She noted that in previous meetings with groups such as the Liberia Business Association, Liberia Chamber of Commerce, and Liberia Marketing Association, one recurring issue has been the tariff system at the Port.
“I hope that through these discussions, we will find practical solutions to address the concerns and develop a clear path forward for collaboration between the government and the private sector,”Minister Dagoseh said.
National Port Authority (NPA) Managing Director Sekou Dukuly also underscored the significance of the stakeholder engagement, calling it an essential component of their work at the port.
He added that the NPA has a comprehensive trade facilitation package for the year, but continuous engagement with relevant stakeholders is necessary to resolve emerging challenges.
Representatives from the business community shared their concerns during the meeting, addressing issues such as customs duties, tariffs, and other challenges.
This continued dialogue between the government and the business sector aims to streamline processes and ensure Liberia’s economic resilience through strategic revenue generation and trade facilitation.