The National Chairman of the Patriotic Entrepreneurs of Liberia (PATEL), Dominic Nimely, has urged the government to implement the Liberianization Policy to empower Liberian businesses in the country.
Chairman Nimely noted that the lack of implementation of the Liberianization Policy has undermined the growth of the private sector and the overall development of Liberian businesses.
He made the statement over the weekend when he was honored as the “Business Tycoon for the Year 2024” by the National Mirror Newspaper.
Nimely asserted that government ministries and agencies do not patronize Liberian businesses in their procurement processes; rather, foreign businesses which continue to marginalize Liberian businessmen.
According to him, it is about time that President Joseph Nyuma Boakai and his government implement the Liberianization Policy, which reserved certain businesses for only Liberians.
Chairman Nimely lamented that the businesses reserved for only Liberians have been undertaken by their foreign counterparts while government officials continue to give blind eyes to them.
He indicated that if government does not implement the policy, it will prevent Liberian businessmen from developing their potential in doing effective businesses, adding that foreign businessmen are even involved with retail businesses.
He maintained that the empowerment of Liberian businesses is critical for the transformation and development of the country, noting that it is only Liberians that can develop their country and not foreign businessmen.
Chairman Nimely narrated that over the years government officials have denied Liberian businessmen the access to get better loans from the banking sector, but front for foreign businessmen to get huge loans. He emphasized that this needs to be changed.
According to him, PATEL will be requesting a US$50 million loan from the government to empower various Liberian business groupings, such as the Tailor and Garment Union, to bring in advanced tailoring equipment to sew the uniforms of the military, police and immigration, which are all being imported and undermining the tailoring profession from not receiving major contracts from government.
He explained that if government provides the US$50 million loan to PATEL to empower Liberian businesses, it will go a long way in ensuring the transformation of every sector of the society.
Chairman Nimely said it is unfortunate that the government, which is the biggest buyer of public goods and services, has neglected purchasing goods and services from Liberian businesses over the years but expect Liberian businesses to be vibrant as compared to their foreign counterparts in the business community.