Monrovia – In a bid to empower local businesses, the Government of Liberia through the Ministry of Commerce has placed a ban on the importation of several goods that can also be manufactured in Liberia.
Report by Gerald C. Koinyeneh, [email protected]
The goods include biscuits, candies, cement, detergents, flour, insecticides, juices and nails.
In a communication dated February 18, the Ministry of Commerce instructed the Managing Director of BIVAC, Laurent Koenig to stop any further processing of Import Permit Declaration (IPD) documents of these products effectively immediately.
BIVAC, is the short form of Bureau Varitas Company Group and among other things is responsible for pre-shipment inspection services for sea import.
It can be recalled that the Minister of Commerce and Industry, Prof. Wilson Tarpeh announced the measure recently at a business climate forum in Ganta, Nimba County.
According to Commerce Minister Tarpeh, the move by his Ministry aims at empowering local businesses, which are involved with the production of these products.
The forum, which was held under the theme, “Resolving Challenges to Getting Credit; Resolving Insolvency, Enforcing Contract” was supported by Liberia Macroeconomic Policy Analysis Center, LIMPAC, National Port Authority (NPA), the Swedish International Development Cooperation Agency (Sida), International Finance Corporation (IFC), World Bank-IFC, the Liberia Electricity Corporation (LEC), Liberia Petroleum Refining Corporation (LPRC), the Liberia Bank for Development and Investment (LBDI), the Ministry of Finance and Development Planning (MFDP), National Fisheries and Aquaculture Authority (NaFAA), among others.
The business climate forum also aims at gathering the views of others on the improvement of the business climate of the country.
The Finance and Development Planning Minister said there is the need for a collaboration of both public and private agencies in order to improve the system.
The forum was also in line with the Coalition for Democratic Change’s (CDC) five-year development plan — “Pro-poor Agenda for Development and Prosperity (PADP),” which intends to build more capable and trusted state institutions for a stable, resilient and inclusive nation.
The Finance Minister noted that the goal of President Weah is to empower Liberians with the tools to gain control of their lives, reaching the farthest first and leaving no one behind and creating jobs and economic, sustaining the peace and government and transparency among others.
The President for the Liberia Bank for Development and Investment (LBDI), Mr. John B. S. Davies, III, stressed the need for more rural financial banking institutions in the country.
According to him, there are several criteria that must be observed in term of getting credit and improve the system.
Mr. Davies said the country does not have public and private credit registry that meets the benchmark criteria.
The LBDI boss further stated that infrastructure also plays key role in obtaining credit.