A vibrant private sector will increase income, promote human development and create jobs for the wide majority of Liberians, says Natty B. Davies, head of the National Investment Commission (NIC) who is leading a Liberian business delegation to Turkey.
According to a release from the NIC, Davies said stressed the need to begin discovering partnerships for achieving the newly formulated Liberia Agenda for Transformation (AFT).
"The Private sector is the engine of growth in AFT, and the growth of the private sector is essential if the objectives of the Liberia medium term agenda for poverty reduction must be achieved," he said.
Several Liberian business delegates are currently in the Turkish city of Istanbul discussing the formulation of a comprehensive strategy for the development of the private sector in Liberia, a release from the National Investment Commission (NIC) said Tuesday.
The statement also noted that the delegation comprising representatives of the Chamber of Commerce, Ministry of Commerce and former government officials would share knowledge on modules related to the formulation of a private sector development strategy (PSD) to develop new opportunities for investment in Liberia. The mission is supported by the United Nation Development Fund (UNDP), the release said.
"While in Turkey, the delegation will focus on common agenda and formalize proposals for cooperation. The delegates are expected to meet with high level Turkish officials.
"The outcome of the meeting will be strengthening technical assistance for the formulation of a comprehensive strategy for the development of Liberia private sector particularly building partnerships for new skills and technologies for growth of Liberia's micro small and medium enterprises; recommendations for legislative revision to expand the space for growth of the private sector through promoting commercial justice," the statement said.
The delegation would also discuss the expansion of public private partnerships for the construction of low carbon and a low cost housing estates amongst others.