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Minister Axel Addy Ministry of Commerce & Industry LIBERIA PPD Public Sector Co-Chair March 2014

Minister Axel Addy Ministry of Commerce & Industry LIBERIA PPD Public Sector Co-Chair March 2014. Agenda. Liberian Context What is the LBBF? LBBF Working Groups Challenges. Liberian Context.

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Minister Axel Addy Ministry of Commerce & Industry LIBERIA PPD Public Sector Co-Chair March 2014

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  1. Minister Axel AddyMinistry of Commerce & IndustryLIBERIA PPD Public Sector Co-ChairMarch 2014

  2. Agenda • Liberian Context • What is the LBBF? • LBBF Working Groups • Challenges

  3. Liberian Context • Following a protracted civil conflict that lasted over a decade, Liberia has been on the road to recovery and peace since late 2003. • The country was left with weak infrastructure and institutions and a battered economy. • In 2006, the Liberian Government requested assistance from the World Bank Group to help fuel private sector growth and attract both domestic and foreign investment. • After supporting initial administrative reforms and providing diagnostic support, the Bank Group focused on public-private dialogue as a way of providing advocacy support for the passage of key laws and reforms to improve the overall investment climate.

  4. What is the LBBF? • In July 2007 the Liberian Better Business Forum was launched and officially endorsed by Liberia’s government and private sector as a new mechanism to facilitate dialogue on investment climate issues. • The forum brings together the GOL and the private sector to engage in constructive dialogue on identifying, prioritizing, and resolving key constraints to private sector development. • The structure of the forum includes 3 bodies and the public and private sector share equal representation on the Governing Board and Working Groups.

  5. Working Groups • There are currently five LBBF Working Groups based on the business constraints prioritized by the forum’s membership. • Corruption • Tax Rates & Procedures • Access to Finance • Access to Electricity • Customs Rates & Procedures

  6. Challenges • Sustainability of reforms already enacted in addition to monitoring. • Capacity of all stakeholders to advocate for and research reforms • Ensuring budgetary support from both the Government and Private Sector once transition has been implemented. • Capacity building of the forum’s Secretariat post-transition • Ensuring GOL and Private Sector stays engaged and motivated to pass reforms based on recommendations from the forum post-transition • Specifically once a new administration has taken over in 2017

  7. On the Road to Recovery !!

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