KAKATA. Nov 17 (LINA) – Participants at a two-day regional consultation on private sector development strategy have cited lack of political will by policy makers, efficient communication and coordination, and electricity as major setbacks to a vibrant private sector in Liberia.
They said grappling with these hurdles will result in the emergence of a strong and vibrant private sector.
The participants made the recommendation at the end of a two-day private sector strategy development consultation on Saturday at the Booker Washington Institute in Kakata, Margibi County.
In remarks, an official of the National Investment Commission (NIC), Kanio Bai- Gbala said the Government through the NIC in June this year signed a five-year private sector development and natural resource management program with the United Nations Development Program (UNDP).
Gbala, who heads the NIC Project Implementation Unit, said the program is intended to improve equal access to sustainable livelihoods in an innovative and competitive private sector.
Also speaking, the Program Associate of UNDP, Blamo Nimle assured the participants that their suggestions and observations would be considered and said the program, through collaboration with the UNDP and the World Bank, will seek to develop a private sector strategy.
He added that the NIC will serve as clearing house to filter key issues arising from the regional consultation.
Blamo said the consultation was intended to derive qualitative and broad-based inputs for inclusion in the final draft of the Liberia Private Sector Development Strategy being developed by the UNDP and the World Bank in partnership with the Liberian Government.
Participants for the regional consultation were drawn from local government, Liberia Business Association, Liberia Marketing Association, Federation of Liberian Youth, Women groups, Traditional Leaders, Farmer groups and local entrepreneurs, among others.
By Richard Baysah