Published: November 22, 2024
Monrovia – Finance and Development Planning Minister Augustine Kpehe Ngafuan has called for the creation of a Liberia-specific “Doing Business Survey” to assess and improve the country’s business environment. Speaking at the Liberia Chamber of Commerce Business Luncheon on Thursday, November 21, 2024, Minister Ngafuan emphasized that this initiative should be driven by Liberia’s own priorities and not solely by the recommendations of international organizations such as the International Monetary Fund (IMF) and World Bank.
“This should be propelled by the necessity of doing it as a country,” Ngafuan stated, highlighting the need for localized data and analysis to guide reforms in Liberia’s business sector.
The event, attended by notable partners including U.S. Ambassador Mark C. Toner, EU Head of Delegation Ambassador Nona Deprez, and prominent Liberian private sector leaders, provided a platform for the minister to outline his vision for enhancing Liberia’s business climate.
Ngafuan stressed the importance of the government’s dialogue with the business community, stating that regular engagement with key stakeholders, including heads of State-Owned Enterprises (SOEs), would help identify specific goals and timelines for achieving measurable progress. He pledged to convene quarterly meetings with the Liberian Chamber of Commerce and other business leaders, describing the initiative as a “top policy engagement” aimed at fostering collaboration and generating actionable ideas to improve the country’s investment climate.
“My intention is to engage with private sector actors, work with them, and act,” he said, underscoring his commitment to practical solutions.
Ngafuan also called for strategic and well-planned actions to address the challenges facing the business community. “We must move beyond discussions to take meaningful actions that will have a direct impact on the business sector,” he noted.
Minister Ngafuan revealed that the government is developing the ARREST Agenda for Inclusive Development, a five-year national development plan that will replace the Pro-Poor Agenda for Prosperity and Development. He disclosed that the government has engaged extensively with development partners and stakeholders in formulating this new agenda, which aims to tackle critical constraints to growth and unlock Liberia’s business potential.
In discussing these constraints, the minister highlighted the issue of infrastructure, particularly the inaccessibility caused by deplorable roads in certain regions. “In some areas, there is an excess supply of goods that far surpasses demand simply because of the lack of connectivity. Addressing these issues is key to unlocking economic opportunities,” Ngafuan explained.
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