Liberia: Commerce Minister Says Liberian Businesses Losing Millions
Commerce Minister Axel M. Addy has pointed out that Liberian businesses are losing millions of United States dollars allotted for them by provisions of the Small Business Empowerment Act.
The Act provides that government institutions allot 25 percent of their budget for the purchase of goods and services from Liberian-owned businesses.
The goods and services, among other things, include Liberian products, catering and domestic and international travels.
Addressing the Ministry of Information regular press briefing recently, he noted that an estimated US$50 to US$75 million is in the 2015/16 National Budget for transactions with Liberian-owned businesses.
He, however, frowned on the small number of registered Liberian-owned businesses, something he attributed to lack of information.
Meanwhile, Minister Addy has challenged the media to help the ministry with a broader dissemination of the information on Liberian business registration to citizens.
By Ballah M. Kollie