The NEWS (Monrovia)
Doe S. K. Davies
14 April 2008
Monrovia — Commerce Minister Frances Johnson-Morris has disclosed plans by the Liberian Government and partners to inaugurate a "one stop shop" for the formalization of business by potential investors and entrepreneurs.
Speaking briefly at the University of Liberia during the Public Policy Forum (PPF) held Monday under the aegis of the Liberia Better Business Forum (LBBF) in collaboration with the Government of Liberia on the proposed Investment Act, Madam Morris divulged that the government has been trying for the past few weeks to review the procedures for starting a business.
She noted that starting a business in Liberia is very cumbersome considering the number of procedures, time and the number of government ministries and agencies involved in formalizing a business entity.
Cllr. Morris indicated that this tedious task involves procedures and processes at the ministries of Commerce, Finance, Public Works and Foreign Affairs, Lands, Mines and Energy as well as the Central Bank of Liberia and the Probate Court.
She indicated that the LBBF thematic working group on streamlining administrative processes and the Committee on Starting a Business have come to the decision that the solution for such an exhaustive problem was to establish a one stop shop where all government functionaries could gather and carry out their various functions to the relief of potential investors.
Madam Morris who is also the Governing Chair of the LBBF further disclosed that the one stop shop would be located at the Ministry of Commerce where representatives of key ministries and agencies would be stationed to carry out their respective functions in the formalization of various businesses.
Liberia was ranked 170 overall among 178 nations world-wide on the Ease of Doing Business by the World bank Group's flagship publication 2008 Doing Business Survey.
Notwithstanding, the Liberian Government has been receiving technical and financial assistance from the Investment Climate Team for Africa (ICTA) through the International Finance Corporation (IFC) of the World Bank Group to effect the necessary administrative, political, legal and economic reforms to enhance improved ranking for Liberia beginning this year.
The passage of the draft Investment Act and the establishment of the one stop shop to formalize businesses would definitely ensure better ranking for Liberia in the 2009 Doing Business survey expected to be released at the latter part of September 2008.
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