The Chairman on House Committee on Commerce has called for stronger measures to protect Liberian businesses against foreign investors, whose investment activities are in flagrant disregard of the Liberianization policy.
Representative Samuel G. Kogar, district #5, disclosed at a press conference held on Monday, February 8, 2021 at his Capitol Building office, that the continued interference of foreign investors with Liberian-owned businesses undermine the intent and purpose of the framers of the law, intended to build a vibrant middle-class for a stainable economy.
Representative Kogar noted that foreigners are involved with trading in used clothes and other forms of retailing, which are set aside by law exclusively for Liberians.
The Nimba lawmaker maintained that the committee on Commerce and Industry is poised to carry out a full-scale investigation into the matter, and at the same time invite stakeholders in the industry to solicit expert opinion on how to improve the sector through the exercise of robust oversight.
The Chairman flagged, among others, the Fulas, Chinese, Labanese and Indians as dominant among those practicing illegal business activities, thereby undermining the Liberianization Policy.
Representative Kogar pointed out that the delay in the clearing of goods and extra charges at the Freeport of Monrovia are major problems hindering the Liberian business community.
The Chairman however expressed his disappointment over what he believes is the overlapping of functions between GTMS and BIVAC.
The Liberianization Policy was enacted in 1998, when 26 businesses were set aside exclusively for Liberians.