Monrovia, Liberia, Tuesday, 14 February 2017, the Business Reform Committee met at the Ministry of Commerce and Industry for the first time in several years. The Committee was able to meet under the stewardship of the Honorable Minister of Commerce and Industry, Honorable Axel M. Addy.
A presentation was made on the Doing Business Indicators which are the core performance tracker of the Business Reform Committee. Deputy Minister for Commerce, Honorable Stephen Marvie, presented on the status of Liberia’s performance in the World Bank’s Doing Business Indicator Report. The presentation focused on the status of ten (10) indicators from 2015 to 2017. The Committee will focus on seven (7) of the ten (10) indicators which should improve the business climate and impact the overall performance of the economy. The seven indicators are Starting a Business, Getting Credit, Paying Taxes, Resolving Insolvency, Dealing with Construction Permits, Getting Electricity, and Trading Across Borders.
The Committee recommended the passage of the new Customs Code, the finalization of a regulation that clearly indicates the number of documents required for import and export, fast track the implementation of the single window and verification of conformity contracts, reduce the costs for import and export by conducting a national review of fees and charges, reduce customs re-inspections and its impact on MSMEs, publicize LEC “Getting Connected” Information, reduce the number of procedures and fees for construction permits, and sign the Insolvency Bill, etc.
Participants also agreed to focus on the low hanging fruits to be able to raise awareness with the private sector before the next Doing Business survey. The meeting adjourned on the note that the principals of the BRC will present their updates to the EMT and the government and Chamber of Commerce will organize a stakeholder meeting on Wednesday, 1 March 2017.