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Liberia: Ellen Withdraws Another Proposed Act
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The NEWS (Monrovia)
2 April 2008
Posted to the web 2 April 2008
Benjamin B. Sworh
Monrovia
Barely a month after she requested for return of the controversial draft Act amending the Investment Incentive Act of 1973 from the House of Representatives, President Ellen Johnson-Sirleaf has again requested the return of another draft Act intended to amend sections 204(e) and 2212 of the Liberian Revenue Code of 2000.
In a communication to members of the House of Representatives, the Liberian Leader noted that this would enable the executive to review the proposed draft Act along with the Act amending the Investment Incentive Act of 1973 that was recently returned to the executive.
On January 30th this year, President Johnson-Sirleaf submitted to the House two draft Acts including an Act amending the Investment Incentives Act of 1973 and another Act to amend sections 204(e) and 2212 of the Liberian Revenue Code of 2000.
The President indicated that the return of the proposed Act of 1973 was for more consultations with Liberians concerning the economy and the citizenry.
According to President Johnson-Sirleaf, the fundamental objectives envisaged to be achieved after the amendment of the proposed Acts are to restructure the economy and create a viable broader market-based economy that would attract more private investments.
She said the executive still maintains that these objectives are in the long term best interest of the country.
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"However, there are intermediate steps that are needed to accelerate our development agenda, especially in the short term-run," she noted.
The proposed amendment to the investment incentive Act seeks to remove restriction placed on some 26 categories of businesses set aside exclusively for Liberians.
The 26 business include the operation of gas stations, drug stores, travel agencies, cinemas as well as sale of used cars, used clothing, among others.
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