To Support Medium, Small Investors in Liberia:

first_imgAs part of its effort to promote Liberia’s investment opportunities, the National Investment Commission (NIC), has entered into an agreement with Liberty Finance, a Liberian micro finance institution. The Agreement called for the provision of financial opportunities to medium and small investors across the country.In a chat with journalists recently at his Mamba Point office in Monrovia, NIC Chairman Michael S. Wotorson said his entity wants to place a great deal of focus on Liberian Institutions and businesses.The exercise, according to Wotorson, is to promote Liberian businesses but also not to discriminate against foreign businesses.He said, it was important to provide more opportunities for Liberian businesses and institutions to strengthen the country’s financial capacity.“If you invest in medium and small businesses to expand and stand stronger, you will change economic growth for the better, because you are providing opportunities for many people at a lower level.”“What I try to do at the NIC is to place a great deal of focus on our interactions with Liberian institutions and businesses, not that I want to discriminate against foreign businesses. I think it is extremely important that we provide more financial spaces for Liberian institutions,” he added.At NIC, Mr. Wotorson said, there is something his administration formulated called the ‘special investment incentives.’  “This package is a basic idea that when a business comes to us, and before we even look at the owner’s application, we require you to go out and enter into a relationship with a technical vocational Educational institution, like the Liberia Opportunities Industrialization Center (LOIC) or the Monrovia Vocation Training Center (MVTC), and establish an agreement with them.”Thereafter, he said, the NIC had requested foreign investors to hire certain number of graduates from these training centers and subsequently promote those graduates to leadership and managerial positions in a way that will be monitored and quantified.“So we actually tell you that within a certain period of time that we want to see [certain] number of people you took from LOIC placed in these kind of positions, and we don’t let you agree verbally but we allow you sign an agreement with LOIC or MVTC and bring that agreement to us,” he indicated.He said the NIC also wants foreign investors set up agreements with businesses that are majority (at least 51%) owned by Liberians, to procure as many of their needed items as possible. “Lastly, we will require you to sign an agreement with us that says everything we require you to do, you will agree to do it. Once we have done all of those things, we will now look at your application and evaluate it and determine whether  or not you are eligible and you receive a special investment incentive, the NIC Chairman said.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

We cannot go on with an illegal Government, punitive measures must be applied now

first_imgDear Editor,The present shenanigans by Granger and crew is a direct violation of Article 106 (6) and (7) of the Constitution of this country. It has been seven months to the date of a Successful NCM, but the Government of David Granger remains intact. We have seen the PNC-led Government trying every which way to circumvent this aspect of the Constitution, with their lying excuses, absolutely nothing has changed. There have been several rulings by our final appellate court, the CCJ, and not one, I repeat not one of its rulings has been adhered to.In all of this, Granger can consider himself “successful” because his Government has remained in office without any change or respect for the Constitution or any ruling of the final court. He can also consider himself a clever fox in outsmarting the Opposition Leader in every aspect of a successful no-confidence vote on his Government, so, Granger and his cabal persist.So, let us for one final time, review the occurrences of this Government since the December 21, 2018, NCM;1. A successful passage of a No-Confidence Motion and the automatic activation of Articles 106 (6) and (7)2. The Granger Government appealed the matter, hoping for a favourable response from the Court.3. The Chief Justice ruled that the NCM was valid and the Government has to resign and call elections.4. The PNC-led Government then appealed the High Court ruling to our Court of Appeal which in part granted them a reprieve in that the Appeal Court erroneously stated that 34 constitutes a majority vote to topple the Government.5. The Opposition then went on to the CCJ, which is our final court on the matter. The CCJ upheld every aspect of the rulings of the High Court of Guyana including the matter of the unilateral appointment of the GECOM Chairman, Retired Justice Patterson, on the grounds that his appointment was illegal, null and void.6. The Granger Government was asked by the CCJ to respect the constitutional ruling of Articles 106 (6) and (7).7. To date, Granger has not honoured any of the CCJ’s ruling, but has remained in office illegally since.Now, this is the position we have come to in our country, where we have a President who is illegally occupying his post and presiding over a Government that does not want to face the electorate. This is a vexing situation to which we have come and there are calls for something more serious and pressing to force him to comply with the law, this will only come in the international community issuing sanctions on the Granger regime. The ABC and E Governments must start the process of issuing travel bans, and the revocation of visas. we are also looking forward to the seizure of the assets of Government officials overseas. These and other punitive actions will force Granger to comply.Finally, Granger is still on a “three card game of tricks” with that move of not selecting a nominee submitted by the Opposition Leader. Instead of selecting a name from the Opposition’s list, he has stubbornly stalled the process with a list of his own choosing, which is another blatant violation of the Constitution of Guyana. The Constitution of Guyana emphatically states that the President must choose a name from the list submitted by the Opposition. Granger will have none of that, which is a very sad and dangerous place to be.Now, it is very clear that this President is hell-bent on having his way, and his mistaken belief that nothing can be done about it, well I have news for Mr Granger.This is what is going to happen come midnight on Monday, July 15, 2019, if a name is not selected by Granger, and I am speaking of a name from Jagdeo’s list, not one from Granger’s list. If Granger does not select a name from the Opposition Leader’s list, then Jagdeo will have one recourse and that is to call on the assistance of the United Nations to intervene.They have the right to intervene in the domestic affairs of any country that has a dictator regime as its Head and one who refuses to respect the rule of law. Guyana is a signatory to the UN Charter on such matters, so they must adhere to the UN Charter.The Opposition Leader also has the option of calling on the UN to send in troops to supervise the process, because we do not have faith in a “kith and kin”. Security forces to supervise a free and fair process or a process free from fear. I rest my case.Respectfully,Neil Adamslast_img read more