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LIBERIA BETTER BUSINESS FORUM (LBBF)

LIBERIA BETTER BUSINESS FORUM (LBBF). Presented by W. Bako Freeman Program Coordinator - LBBF. Objectives. Improve the business culture and ethics in Liberia through joint Public and Private Sector Working Groups partnering to advocate, based on technical analysis of viable options.

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LIBERIA BETTER BUSINESS FORUM (LBBF)

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  1. LIBERIA BETTER BUSINESS FORUM (LBBF) Presented by W. Bako Freeman Program Coordinator - LBBF

  2. Objectives • Improve the business culture and ethics in Liberia through joint Public and Private Sector Working Groups partnering to advocate, based on technical analysis of viable options. • Ensure that the Private Sector is fully engaged as a responsible partner with Government to contribute evidence-based recommendations and inputs into economic planning and policy in a regular and structured dialogue. • Develop issue-specific Public and Private Sector Working Groups who will focus on analyzing identified issues/challenges/obstacles and barriers to doing business in Liberia and will together, propose and champion viable recommendations for reform. • Support the development of awareness creation, inclusion, consensus building and cooperation within a Private Sector that will be equally as accountable as the Public Sector for providing technical input into public policy.

  3. Structure Governing Board: Minister of Commerce Chair, National Investment Comm. (NIC) Coordinator, LRDC (Pres. Office) Private Sector Leaders Governing Board: Minister of Commerce Chair, National Investment Commission (NIC) Coordinator, LRDC (Pres. Office) Private Sector Leaders Governing Board: Minister of Commerce Chair, National Investment Commission (NIC) Coordinator, LRDC (Pres. Office) Private Sector Leaders Govt. coordination Govt. coordination Private Sector Coordination Private Sector Coordination Secretariat : Program Coordinator Operations Officer Communications Officer Secretariat : Program Coordinator Operations Officer Program Assistant Communications Officer • WG 3: • Adminis. Processes: • Business Startup • Trade Facilitation • Administrative Processes: • Business Startup • Trade Facilitation Legal & Regulatory Framework WG 1: Legal and Regulatory Framework WG 2: Physical and Social Infrastructure Physical & Social Infrastructure Institutional Enhancement (Cap. building) WG 4: Institutional Enhance- ment (Cap. Building) Trade & Export Promotion WG 5: Trade and Export Promotion Private/Public sector members co-chaired by both private sector and public sector champions

  4. Progress • Link to Cabinet Level Business Reform Committee (est. by President Johnson-Sirleaf) • Leveraging DB Results • Areas of Focus/ Reforms: • Starting a business: Reduction in time from 99 days to 10 • Trading across borders: Number of steps reduced from19 to 7 • Dealing with Licenses: Reduction in time and fees • Investment Law • Draft completed and LBBF helping to spearhead consultation along with Office of the President • General Business and Associations Law • Review of current law planned and recruitment of experts in process

  5. Business Start-Up Business Start-Up Trade Facilitation Trade Facilitation Dealing with Licenses Dealing with Licenses Legal and Regulatory Framework Legal and Regulatory Framework • A standard form for articles of incorporation • MOFA, MOF and Central Bank will second staff to the MOCI so that the entire process will be completed at Commerce. • Approval of new businesses within 10 business days. • Reducing costs of starting and doing business • Streamlining processes • Publication of regulations and procedures • Reduce the amount of time and effort to clear goods from the port. • Establishment of a “one-stop” shop of all related agencies • Reduce the number of signatures for customs clearance • Reduction in number of steps from 19 to 9 • Establishment of “one-stop” shop. • Standardized forms for export and import • Streamlining of approval process/ signatures • Standard checklist that will provide businesses with a list of all required forms and fees • Reduction of the approval time from 90 days (as reported in last years' survey) to 30 days. • Reduction of the signatures at Public Works from 4 to 2 • Reduce the administrative burden associated with obtaining a constrction license • Reduction in number of signatures • Legislative changes to support implementation (ex. Investment law, Gen. Business, etc.) • Capacity-building/training • Draft Investment Law completed • Review of General Business and Associations Law planned • Capacity building plan for NIC completed and some training has begun Progress Cont’d Objectives Reforms

  6. Communications • Newsletter/Website • Template completed and launch scheduled for end of April. • Sponsorship of Radio Program: “Business World” • Weekly program • Liberian Economic Journalists Association (LEJA)

  7. Next Steps • Second Annual Private Sector Day • Planned for 2nd half of the year • Advocacy Training • Partnership with Center for International Private Enterprise (CIPE) • Continued participation on the Business Reform Committee

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