Ganta, Nimba - Finance and Development Planning Minister, Hon. Samuel D. Tweah Jr., has expressed the need for practical approach to be taken in order to enhance growth and development in the business sector.
He said such growth and development requires Practical approach under the Pro-Poor agenda for Prosperity and Development of President Weah administration.
Minister Tweah spoke on Friday February 1, 2019 at a two-day Business Climate Forum organized by the Business Climate working Group.
The forum was held under the Theme: Resolving Challenges to: Getting Credit, Resolving Insolvency and Enforcing Contract held in Gompa City Nimba County.
Minister Tweah told the gathering that practical approach is keen towards Growth and Development in the Business sector, because it will help improve the business environment for investment.
‘’ We need a collaborative effort of the judicial sector, business sector, and the banking sector including Development partners to address problem of access to credit and contract enforcement for investment across the private sectors”. Minister explained.
According to him, the complexity in credit access particularly in the agriculture is impeding the growth and development of the business sector, and expressed the need to resuscitate the former agriculture bank. “We need to bring partners together to see how we set up the agriculture bank again” Minister Tweah adds.
The Finance Minister believes that practical solution needs to be adopted over the next three to six months to improve and transform the business and investment climate.
Liberia needs to be seen as a very easy place to do business by resolving insolvency, enforcing contract and accessing credit which will improve the business environment.
He disclosed that countries of the world are doing well, so it was important for Liberia to move faster in doing business. He urged businesses to move towards collateral and monitoring systems were banks and customers who want to sell can post and get their cash quick to do business.
The forum brought together members of the banking association, members of the Liberia Chamber of Commerce, Development Partners, amongst others.