MONROVIA — Liberia’s Vice President Jeremiah Koung says support for Liberian-owned businesses remains a major priority for this government.
He said the intent is to lift the citizens out of poverty.
According to a press Release From the Office of the Vice President, the Liberian Vice President said while the government encourages foreign investors to help in private sector growth, it hails local businesses for their consistency while assuring them of the government’s preparedness to create an enabling environment for expansion.
VP Koung was speaking Friday when he delivered the keynote address at the Aqualife Ribbon-Cutting Ceremony of the company’s newly constructed water facility in Virginia outside Monrovia.
He then commended Liberty Investment Limited and its subsidiary, Aqualife, for over a decade of investments in Liberia.
According to him, these investments have created employment opportunities for Liberians and contributed significantly to Liberia’s industrial and economic advancement.
Meanwhile, VP Koung identified what he called failure to identify sectors requiring immediate attention as a major obstacle to achieving a strong private sector
He said while he is aware of the many sectors seeking investment and attention, the need to prioritize sectors that provide immediate transformation cannot be overemphasized.
The Liberian Vice President who has a background in business believes that the strategy should tailored fully to develop the ARREST agenda which includes Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism.
He assured that with the support of the International Finance Corporation (IFC) of the World Bank, and other development partners, the government can mobilize funds for local businesses and industries to cultivate a competitive business environment conducive to economic growth and development.
Friday’s Aqualife Ribbon-Cutting Ceremony was graced by several dignitaries including House Speaker J. Fonati Koffa, Madam Dahila Khalifa, Regional Director for Central Africa and Anglophone West Africa for the International Finance Corporation and Commerce Minister Amin Modad, among others.