Monrovia – For the sole purpose of strengthening the role of commerce, trade and industry as engines of sustainable and inclusive growth, the Ministry of Commerce and Industry (MoCI) has launched a Five-Year Strategic Plan (2025-2029).

By Emmanuel M. Weedee-Conway

The launch of the five-plan document was held Monday, November 3, 2025 at the Ministry situated at the Ellen Johnson-Sirleaf Ministerial Complex in Congo Town, outside Monrovia with several local and foreign dignitaries in attendance.

Speaking at the ceremony, Commerce and Industry Minister, Madam Magdalene Ellen Dagosseh, said the plan signifies the Ministry’s renewed commitment to strengthen the role of commerce, trade, and industry as engines of sustainable and inclusive growth.

She affirmed the Ministry’s commitment to standing as a cornerstone for national transformation, a driver of policy, innovation, and enterprise.

According to her, MOCI aims to create a business environment that empowers entrepreneurs, attracts investment, promotes competition, and generates decent and sustainable jobs for our people.

This Strategic Plan, she noted, is a guiding document – a visionary roadmap that captures the Ministry’s aspirations and defines a path toward economic resilience and industrial empowerment.

Minister Dagosseh furthered that the plan is anchored in the Economic Transformation Pillar of the ARREST Agenda, which emphasizes Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism as key pedals for national renewal.

‘‘Under this Five-year Strategic Plan, the Ministry of Commerce and Industry is tasked with ensuring that trade and industry become pillars of economic growth, driving productivity, innovation, and competitiveness in every sector.’’

At the center of the next five years (2025-2029), she mentioned that strategic priorities will focus on the promotion of industrialization and value addition to reduce import dependency and stimulate local production, enhancement of trade facilitation and export promotion to expand market access for Liberian goods and services.

Other areas of focus entail:  strengthening the business regulatory environment to encourage entrepreneurship and private sector participation, ensuring that our policies and programs remain climate-sensitive, inclusive, and innovation-driven and deepening collaboration with development partners, the private sector, and other government institutions to accelerate progress.

This plan, she indicated, envisions a modern, competitive, and sustainable economy, one that places the private sector at the center of Liberia’s development story.

‘‘As we transition from planning to implementation, we must now focus on delivery and accountability. A strategic plan is only as effective as the actions it inspires. Therefore, we are committed to ensuring that this plan is translated into measurable outcomes, creating real opportunities for our citizens, particularly our youth and women entrepreneurs.’’

‘‘The successful execution of this 5-year plan requires collective ownership and partnership. We call upon our development partners, the private sector, civil society, and all Liberians to join hands with the Ministry of Commerce and Industry in realizing this shared vision. Together, we can build a resilient economy that fosters innovation, reduces poverty, and secures prosperity for all.’’

‘‘Distinguished ladies and gentlemen, the launch of this Five-Year Strategic Plan is both a commitment and a challenge, a commitment to excellence, inclusion, and progress, and a challenge to transform our words into meaningful action,’’ added the Commerce Minister.

Renowned Liberian economist, Dr. Toga Gayewea McIntosh, extolled the Government and People of Liberia through the Ministry of Commerce and Industry for what he described as a visionary and ambitious plan.

But the Liberian economist urged the Ministry and its partners to now move towards its execution strategy as many other plans had been launched and failed in the country. 

‘‘Many plans have been launched. We must move to execution. Our development plan must be executed. There must be an implementation and execution plan to the plan itself,’’ he added with a pledge to help the Ministry develop an execution plan at zero cost.

Guest speaker at the occasion, James Strother, President of the Liberia Business Association (LIBA) also lauded the Ministry of Commerce and Industry and vowed a strong working relationship between the Ministry and the private sector.

Also in remark, Dr. Anna Brzozowska, Team Leader for Governance at the European Union (EU), emphasized the critical importance of cooperation between the government and the private sector for Liberia’s economic growth and the attraction of foreign investors.

She said the EU shares the mission and values outlined in Liberia’s current development strategy and plans to launch a significant private sector development program in the near future.

This program, she pointed out, will focus on value addition in the fisheries, forestry, and cassava sectors, while also working to increase trade and investment opportunities and the nation’s visibility globally.

Ultimately, the EU official stressed the need for strong Liberian leadership to facilitate effective public-private partnerships and realize short-term economic opportunities.

Monrovia – The Ministry of Commerce and Industry, in collaboration with the International Development Association (IDA) of the World Bank on Thursday the launched the Small and Medium Enterprise (SME) Technical Assistance Program (TAP) known as Accelerate360, a transformative initiative under the Liberia Investment, Finance, and Trade (LIFT) Project.

Accelerate360 is a key component of the LIFT Project, which supports the Liberian government’s strategic objectives to promote private sector development.

The initiative focuses on addressing critical market challenges that hinder SMEs’ access to markets and finance, while also strengthening the capacity of the Small Business Administration (SBA) and Business Development Service Providers (BDSPs) and Entrepreneurship Support Organizations (ESOs).

Accelerate360 is an initiative under the Liberia Investment, Finance, and Trade (LIFT) Project which aims to empower SMEs with access to markets, finance, and technical assistance.

In September 2024, the Ministry of Commerce and Industry signed a partnership agreement with Bridgewater Advisors to provide hands-on support to 165 growth-oriented SMEs. 

These are businesses that are innovating, adding value, and helping to shape Liberia’s future not only for the local market but for regional and global trade as well.

The Minister of Commerce and Industry Madam Magdalene Ellen Dagoseh speaking during the program on Thursday said the Accelerate360 program will Boost SME Capacity and Drive Economic Growth in Liberia.

The Minister praised the members of the National Project Steering Committee of LIFT, Ms. Alari Mahdi of the World Bank Group, Representatives from the private sector and business associations, Our Small and Medium Enterprises (SMEs), Mr. Prosper Doe Melomey and the Bridgewater Advisory team. 

“This program the ACCELERATE 360, is more than a technical assistance project. It is part of a bold vision to change the narrative for Liberian SMEs,” Minister Dagoseh said.

According to the Minister of Commerce, no economy can succeed without a strong private sector. Small and medium enterprises are the backbone of job creation, innovation, and inclusive growth. 

“They are the engine that drives economic transformation,” she said.

Madam Dagoseh added: “Under the ARREST Agenda, we are putting Liberian-owned businesses at the center of our national development strategy. Our message is clear: prosperity must be owned locally. Yes, we welcome investment – but true development happens when local businesses grow, compete, and lead.”

“Accelerate 360 is a top component of what was originally known as the Liberia Economic Recovery and Transformation Project – the LIFT Project. Today, LIFT is a foundation of our post-crisis recovery, and we are proud to have the World Bank as a steadfast partner on this journey, she asserted.

According to her, improving the business climate, expanding access to finance for SMEs and enhancing trade efficiency are some of the areas the program will be looking at.

“We are collaborating with over 10 government institutions to build a more SME-friendly Liberia. Together with the Central Bank and the World Bank, we’ve launched a national electronic payment system, a credit reference bureau, and a $2.5 million credit line dedicated to small businesses,” the Minister said.

She added: “Looking ahead, we are preparing to roll out several major initiatives –like a faster, digital business registration system, upgrades to the asycuda trade system and the development of a national electronic single window for customs and trade facilitation.”