Liberia’s Commerce Minister, Amin Modad, recently provided a comprehensive overview of the Ministry of Commerce and Industry’s progress during a press briefing in Monrovia. He emphasized the Ministry’s commitment to establishing a vibrant and predictable business environment. Minister Modad highlighted significant improvements in revenue collection, indicating that the Ministry is on track to exceed its previous revenue targets, including a goal of surpassing $2.5 million. This surge in revenue is attributed to the Ministry’s vigorous assessment of rural services and an enhanced business registration exercise. Modad’s leadership has seen the Ministry achieve approximately $1.9 million in revenue so far this year, compared to just $1.9 million from the previous year, which underscores the positive trajectory under his administration.
Modad also discussed the Ministry’s proactive engagement with stakeholders regarding the 25% Procurement Law, which mandates that a quarter of public procurement opportunities be allocated to Liberian businesses, with a specific focus on women-owned Micro, Small, and Medium Enterprises (MSMEs). In collaboration with the Public Procurement and Concession Commission, the Ministry is actively working on ensuring compliance with this law by soliciting reports from various government agencies. This initiative forms part of the broader strategy to empower local businesses within the legal framework designed to fortify economic growth and inclusivity in procurement processes.
Significant strides have been made regarding the Ministry’s Inspectorate’s operations, which have been revitalized to better monitor pricing, product quality, and safety standards. Modad indicated that improvements included equipping the inspectorate with new uniforms and vehicles to enhance outreach and capability. As a result, the inspectorate has successfully curtailed illegal smuggling activities across borders, targeting commodities that threaten local health and safety standards. Additionally, the Ministry’s revenue collection from fines has seen remarkable success due to the Inspectorate’s increased vigilance in identifying malpractices in the marketplace.
Another notable development discussed by Minister Modad is the establishment of a “Made in Liberia” store within the Ministry to promote and market locally manufactured products. Plans are underway to replicate this initiative at Roberts International Airport to reach travelers and strengthen market access for Liberian products. Modad has also reported the Ministry’s plans to renovate the Jorkpentown Farmers Market to enhance the sale of locally grown agricultural produce after years of neglect. This revitalization effort is part of a broader campaign to support local agriculture and bolster the economic viability of farmers and traders.
In addressing market quality and safety issues, the Ministry has undertaken random sampling of various products to ensure compliance with safety standards. Testing has been conducted in collaboration with the Ghana Standards Authority to assess the safety of essential commodities like zinc, steel, and electric wires. Furthermore, new administrative regulations for the importation of critical goods, including electronics and frozen foods, have been implemented to promote quality control, competitive pricing, and increased government revenue while supporting local industries. This regulatory framework aims to enhance consumer safety and market efficiency, reflecting the Ministry’s proactive approach to safeguarding public welfare.
Finally, Minister Modad tackled the pressing issue of commodity pricing and the perceived scarcity of essential goods, particularly rice. He reassured citizens that the government has strategically managed rice trade to maintain stability in prices, noting recent tariff reductions from India as an opportunity to further fortify price control. Modad emphasized that the government’s overarching focus extends beyond rice to encompass broader food security strategies in collaboration with the Ministry of Agriculture. This initiative aims to diversify local food production, thereby enhancing food security and resilience for the Liberian economy in the long term. Overall, the Commerce Ministry under Modad’s leadership appears dedicated to laying down a robust foundation for sustainable economic growth through collective efforts in policy enforcement, regulatory compliance, and stakeholder engagement.
