The Ministry of Commerce & Industry and the Liberia Business Association yesterday, August 8, 2017 signed a historic Memorandum of Understanding (MOU) aimed at strengthening and promoting Liberian small businesses around the country.
The colorful occasion was witnessed by officials of the Ministry of Commerce & Industry, stakeholders in the Liberian business community as both entities sealed the deal at a major press conference which was held at the newly renovated conference room of the Ministry.
Speaking during the ceremony, Minister Addy said the all-important agreement was reached after several weeks of consultation between his ministry and the Liberia Business Association.
He further disclosed that his ministry has fully recognized the authority given to LIBA by law as a statutory representation of all libertarian own businesses interest across the country.
Minister Addy also assured that his ministry will work with the Liberia Business Association for the successful implementation of the agreement so as to increase the number of Liberian businesses which constitute 25%. He said the agreement will ensure the increment of businesses exclusively for Liberians
He also disclosed that the Ministry of Commerce is working with the Ministry of Justice to help enforce the regulations on the investment plan, and lauded LIBA’s authorities for the efforts applied during the start of the agreement which has come to a reality.
For his part, the President of LIBA, Mr. Sembeh expressed thanks and appreciation to the Ministry of Commerce for the level of support given the new leadership of LIBA. He described the agreement between his institution and the Ministry of Commerce as a positive step in the right direction and a new beginning to boost postwar Liberia’s business environment.