The Chief Executive Officer of the Public Procurement and Concessions Commission (PPCC), James Dorbor Jallah, says the Small Business Act (SBA) is intended to create Liberian millionaires.
Jallah explained that the SBA reserves 25 percent of all government procurements for Liberian businesses, and stressed the need for local businesses to meet the requirements prescribed by law to ensure their participation in the bidding process.
The PPCC official made the statement Wednesday at the start of two-day Public Procurement Seminar for road contractors in Liberia held at a local hotel in the Monrovia suburb of Sinkor.
He noted that Liberian businesses can be developed if Liberian entrepreneurs have the knowledge and understanding of how to take advantage of the 25 percent which is exclusively set aside for them, noting that Liberians are capable of doing business.
He indicated that to mitigate the challenges Liberian contractors faced in the past in securing government contracts, the PPCC has developed a database to register Liberian businesses across the country to ensure their full participation in securing contracts.
Meanwhile, the President of the Association of Liberia Construction Companies (ALCC), Foday Kamara, has stressed the need for Liberian contractors to gain better understanding of the procurement process.
Kamara observed that when Liberian businessmen acquire knowledge of the process it will go a long way in enhancing their capacity in participating in the bidding process and securing government contracts as indicated by law.