Vice President Boakai Addresses Investment Forum In London

Friday, 14th September 2012
London, U.K. - Vice President Joseph N. Boakai has told investors attending the UK-Liberia Forum  that the focus of the Government of Liberia now is gaining access to finance, reducing the cost of doing business, building linkages between entrepreneurs in countries abroad and those in Liberia by promoting partnerships, and Promoting education and job skills training.

He said The Government of Liberia recognizes that the growth and development of small and medium enterprises contributes significantly to the growth of the economy and that Government is aware that there are not only capacity issues, but that one of the most serious impediments to most small, medium enterprises is lack of access to capital.

The Vice President was speaking today when he delivered the keynote address at the UK-Liberia Investment Forum convening here in the British Capital.

He said one of the most devastating effects of the Liberian civil war was the destruction of the Mount Coffee Hydroelectric power plant.  Today, the loss of that facility translates into a significantly high cost of doing business in Liberia especially since businesses are dependent upon the generators and diesel fuel and pointed out that Government is currently doing all it can to rehabilitate the hydro in an effort to lower the cost of doing business, a dispatch from London quotes the Vice President as saying.

Speaking further, the Vice President said linking the budding entrepreneurial class at home with those abroad so they can receive mentoring, broader perspective and support is a priority of the Government, adding, we need investors who will facilitate cross-border links by enabling European and young Liberian entrepreneurs to connect with each other to explore more productive interests mutual to them.  Such linkages the Vice President emphasized will help unleash the potential and broaden the horizons of our local entrepreneurs, who now have to confront the challenges that prevent them from achieving their full potentials.

Touching on skills and training for Liberian youths, Vice President Boakai said one of the things Government hopes and plans to achieve is job skills training and education. “We want to train our youths to workplace success, job skills that are high in demand in the private sector. The multitudes of able-bodied and sound-minded young people currently lying idle needs to be put on a more useful and socially productive trajectory by ensuring the availability of job skills training and employment opportunities” a release from London quotes the Vice President.