Monrovia, Liberia - In a significant step towards strengthening collaboration between the government and the private sector, Liberia’s Finance Minister Augustine Kpehe Ngafuan met with key members of the private sector at an inaugural interactive session held at a local hotel in Monrovia on Tuesday.
During the meeting, Minister Kpehe Ngafuan emphasized the critical role of the private sector as the engine of growth for Liberia’s economy.
He reiterated the government’s commitment to creating an enabling environment that allows businesses to thrive and prosper. "To ensure that the private sector can effectively drive economic development, we must establish regular channels of communication," Minister Kpehe Ngafuan stated. "Today’s meeting is just the beginning of an ongoing dialogue where we will not only listen to the needs and concerns of the private sector but also work together to implement actionable measures," the Minister intimated.
Key topics discussed included improving regulatory frameworks, enhancing access to finance, and addressing infrastructure challenges that hinder business operations.
Minister Ngafuan assured participants that the government is dedicated to addressing these issues in collaboration with private sector leaders.
Speaking earlier, the Country Representative of the International Finance Corporation, Nuzhat Anwar, termed the gathering a move to build valuable relationships in an effort to develop the Liberian economy. The session also provided a platform for business leaders to voice their perspectives on current challenges and opportunities within the market.
Feedbacks include the ratification of existing mining laws, payment of local debts by the government, and improvements in roads, energy, and port infrastructure, amongst others.
The feedback from these discussions will be instrumental in shaping future policies that support sustainable economic growth.
As Liberia continues to navigate its economic landscape, Minister Kpehe Ngafuan’s proactive approach underscores the importance of partnership between the government and the private sector. Prominent amongst leaders of the private sector in attendance at the inaugural discussion were the President of the Liberian Business Association (LIBA), the President of the Liberia Chamber of Commerce, O. Natty B. Davies, II, the Liberia Chamber of Mines, President Amara Kamara, Executives of the Banking Sector, manufacturers, and local Agro-processors amongst others.
The Finance and Development Planning Minister was accompanied by the Deputy Finance Minister for Economic Management, Hon. Dehpue Zuo, the Assistant Minister for Economic Policy, Hon. Henry D.Z. Yanquoi, and the Chief of Staff to the Minister, Edward R. Smith.