The NEWS (Monrovia)
Benjamin B. Sworh
27 June 2006
Monrovia — As of part of efforts to ensure that the Liberianization Policy implemented to the letter, the National Investment Commission has earmarked on a US$1million dollar fund drive for Liberian businesses.
The Chairman of the NIC, Mr. Richard Tolbert made the disclosure yesterday at the launch of the Commission's Enterprises Development Fund in Monrovia.
He said the aim of the scheme is to encourage Liberian investors to engage in businesses in the country.
According to him, the amount earmarked is expected to be generated from the business community and some international partners who have been asked to assist the NIC to buttress its efforts to assist Liberian businesses to get actively involved in the economic growth of Liberia.
Mr. Tolbert revealed that the Liberian Government has already deposited the amount of LD$30,000 while the Liberian Bank for Development and Investment has made available LD$1million.
The NIC boss among other things indicated that the commission would prioritize Liberianization, decentralization of business, the ability to have good accountability and many others.
Flanked by foreign dignitaries and government officials, Mr. Tolbert pointed out that the government is trying to bring local businesses, which include a small medium enterprise that requires some US$5,000 to 25,000.
Mr. Tolbert assured the business community that under his administration, he would create about 500 to 600 businesses that would provide job opportunities for Liberian in the Country.
For her part, Commerce Minister, Mrs. Olubanke King Akerele said following the passage of the annual budget, her Ministry would contribute to the fund drive of the NIC.
LBDI President, Mr. Francis Dennis said amount of 1million Liberian dollar was their way of identifying with the business community as a way of encouraging them to engage into private investment.
He noted that LBDI will always assist the NIC to achieve its goals and objectives.
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