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BusinessGeneralLiberia news

Finance Minister promises Liberian-owned businesses

By Kruah Thompson (interm)

Local business owners and petty traders down Front Street in Monrovia have called on the Minister of Finance and Development Planning Samuel D, Tweah to intervene in the challenges facing them.

The made the appeal when Minister Tweah visited a longtime friend who sells used clothes along Front Street.

A spokesperson for the group told Minister Tweah they are being subjected to the high tariffs at the Freeport of Liberia to get their goods out of the Port, which is affecting their businesses.

They also complained that businesses designated by law for Liberians are being taken over by foreigners.

The marketers further complained of the lack of warehouses or storage facilities for their goods, which poses serious embarrassment, thereby putting a lot of them out of business.

In response, Minister Tweah said it was good that he came personally to hear their cries and interact with them, promising to take their request to the national government saying, “As a government, we need to do more for Liberian businesses.” 

Minister Tweah notes the issue of foreigners doing businesses designated for Liberians by law is a difficult issue to solve, on grounds that Liberians themselves are undermining the law.

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He also observed Liberians are fronting for foreigners by registering businesses for them under pseudo names.

 “That’s while it makes it difficult for the government to identify and prosecute foreigners who are doing these businesses”, he added.

However, he promised government will take practical steps to address these problems.

Tweah said he would meet with the Minister of Commerce and the Managing Director of the National Port Authority to find a remedy to problems facing Liberian-owned businesses.https://thenewdawnliberia.com/finance-minister-promises-mont-district13/ Editing by Jonathan Browne

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The New Dawn is Liberia’s Truly Independent Newspaper Published by Searchlight Communications Inc. Established on November 16, 2009, with its first hard copy publication on January 22, 2010. The office is located on UN Drive in Monrovia Liberia. The New Dawn is bilingual (both English & French).
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