The Liberia Business Association (LIBA) has raised alarm over the growing presence of foreign businesses in sectors exclusively reserved for Liberians.
LIBA President James Strother criticized the Liberia Business Registry for issuing licenses to foreign entities, allowing them to operate in areas meant to empower local entrepreneurs.
Speaking at a press conference recently in Monrovia, Strother called on the government to take decisive action to address the issue, which he says is undermining Liberians' ability to benefit from their own economy.
"Foreigners engaged in sand mining, block making, and other businesses reserved for Liberians must be denied licenses. Liberians are tired of being excluded from their rightful place in the economy," Strother said. "If the government continues issuing these licenses, we will be forced to take our own actions to protect our interests."
Strother emphasized that certain industries, including sand mining, block factories, and retail operations, are legally set aside for Liberians under the nation's laws. However, he lamented that these sectors are increasingly dominated by foreign-owned businesses, leaving Liberian entrepreneurs at a disadvantage.
"We are witnessing a troubling overlap between Liberian and foreign businesses in retail, which is not only stalling growth but also driving Liberian businesses into debt," he said. "The law clearly states that the retail sector belongs to Liberians, yet it's not being enforced."
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He further urged the Liberia Business Registry to uphold its mandate by strictly enforcing restrictions on foreign participation in these sectors.
Strother argued that protecting these industries is critical to ensuring Liberians' economic independence and fostering sustainable growth for local enterprises.
"The government must stand by its commitment to safeguard the sectors reserved for Liberians," he added. "When foreigners dominate these industries, they strip Liberians of opportunities to thrive in their own economy."
LIBA's stance reflects the frustrations of many Liberian business owners who have long struggled to compete with foreign entities. The association's call for stricter enforcement of economic policies aims to restore balance and empower local businesses to succeed.
As pressure mounts, all eyes are now on the government to act decisively in addressing the concerns raised by LIBA and ensuring that Liberians can benefit fully from the country's economic resources.
