Liberia News: Modad Vows To Diversify The Economy


By, Washington Tumay Watson 

Monrovia-February-26-TNR:Commerce Minster Amin Modad has vowed to diversify the Lieria’s economy under the Joesph Boakai led administration.

He said the economy is not going to be export but value addition with a focus economy and Liberians taking the lead.

Speaking to the media on Truth FM over the weekend, Liberia’s Commerce Minister asserted that the country’s comparative of the economy last in the country’s resources and how it is handled as a government in the area of developing the resources.

Minister Modad committed the government through the Ministry of Commerce to develop the county’s economy through the private sector development.  

He said this will focus on the country export but indicated that the government needs to address the private sector transformation including the developing of the production capacities.

Mr. Modad further remarked that the country is not only going to export but first to satisfy the domestic needs of sustainable and reliance economy. 

He noted that there are several factors that have been prohibiting Liberians’ involvement into the country’s economy stressing the country economy is been in the care of foreigners.

“The economy is controlled by foreign businesses just unimageable and I think we have not to only focus with the policies that are there but the leaders that we have, since November 2023 more than 6050 IPDs alone, more than 6050 I pd were signed just on freezing food all going to large foreign importers,” he disclosed.   

According to him, his administration will ensure that Liberians are giving the opportunity to be part of the economy and not only foreigners.  

He said the building of the country’s economy is a gradual step in achieving such stressing that if the government can dedicate three million United States Dollars to the value addition chain, the country economy will resuscitate.

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